Diabetes is a condition that requires significant management. It is this extraordinary workload that has many people with diabetes turning to high-tech devices to help them manage their health and keep their blood sugars within a more normal range. This trend toward a greater reliance on personal medical technology is growing throughout the medical industry. In fact, MarketsandMarkets has projected that the Internet of Medical Things (IoMT) market will grow at a compound annual rate of 30.86% between 2017 and 2022. The Software as Medical Device (SaMD) niche, specifically, will see a large portion of this growth and is predicted to grow at a rate of 28.5% during this same period.
Advancements in sensor technology are driving the field of remote patient monitoring. To compete in this growing market, MedTech companies need to take note of the success of innovative startups and ensure they build tech that is ready for the future of RPM.