|Going forward, mHealth data will be a critical component of artificial intelligence tools and of the healthcare industry as a whole. mHealth, through mobile apps and devices will be an important source of big health and wellness data. Availability of these massive datasets could open new perspectives in the development of AI-based health and health care tools. More affordable sensors, rich real-time data, and powerful analysis tools are powering the next generation of mobile apps.
mHealth data, extracted from wearable devices and patient monitoring tools, will play a critical role in powering artificial intelligence and analytics technology in the future, according to a recent analysis from Frost & Sullivan.
“As mHealth rapidly gains traction, wearables, telehealth, social media, and patient engagement are expected to find adoption among more than half of the population in developed economies by 2025,” said Sowmya Rajagopalan, Advanced Medical Technologies Global Director.
“In the future, patient monitoring data will be combined with concurrent streams from numerous other sensors, as almost every life function will be monitored and its data captured and stored,”
The industry will also see a surge in wearables and biosensors, largely due to the rise of chronic disease and an industry shift from treatment to prevention. Continuous glucose monitors, pulse oximeters, and electrocardiogram monitors are some of the main tools that will dominate in the next few years. Smart prosthetics and smart implants, which help to measure key parameters to support monitoring and early intervention, will also likely be critical tools in the coming years.
“The patient monitoring market is expected to be worth more than $350 billion by 2025, as the focus is likely to move beyond device sales to solutions.”
The estimated increase in the global AI economy by 2022 is $3.9Tn from $1.2Tn in 2018. This increase can be attributed to machine learning tools and deep learning techniques. The spending in the healthcare industry alone is estimated to reach $36.1Bn in 2025 with a CAGR of 50.2%. It is predicted that the biggest investors in this technology would be hospitals and physicians as well as individual caregivers.
According to WEF these are 3 ways AI will change healthcare by 2030
1.- AI-powered predictive care.
“In 2030, the healthcare systems can anticipate when a person is at risk of developing a chronic disease, for example, and suggest preventative measures before they get worse. This development has been so successful that rates of diabetes, congestive heart failure and COPD (chronic obstructive heart disease), which are all strongly influenced by SDOH, are finally on the decline.”
2.- Networked hospitals, connected care to a single digital infrastructure . Locations connected through a supply demand balancing approach.
3.- Better patient and staff experiences, reduce admin burden. By learning from every patient, every diagnosis and every procedure, AI creates experiences that adapt to the professional and the patient. This not only improves health outcomes, but also reduces clinician shortages and burnout, while enabling the system to be financially sustainable.