The Internet of Things Could Revolutionize Medical Services
Amid the Covid-19 pandemic, there’s been a heavier reliance on technology, including the internet of things to facilitate communications amid social distancing and lockdown measures. However, it’s also positively impacting the way medical services are delivered with more advanced technology.
“The Internet of Things (IoT) is revolutionizing the way we live and work,” wrote Alyssa Rapp in a Med Tech Intelligence article. “From tweeting refrigerators to driverless cars, a vast array of physical devices are now connected to the Web.”
“Nowhere is the impact felt as acutely as in the healthcare sector,” Rapp wrote. “This year, IoT deployments will grow faster in the health arena than in any other industry. In fact, according to McKinsey, the so-called ‘Internet of Medical Things’ (IoMT) will have a global economic impact of $1.6 trillion by 2025.”
From robots to artificial intelligence, a number of disruptive technologies are entering the fray to combat Covid-19. That also goes for applying internet technology to medicine.
“Web-enabled medical technology has the potential to be truly transformative,” Rapp added. “To understand why, you only need to consider some of the potential applications. Imagine, for instance, a ‘smart pill’ that, once swallowed, could collect diagnostic information from inside your body, and wirelessly transmit its findings to your doctor. Or how about a wearable ECG that inconspicuously monitors your heart 24/7 and pings an early warning to your doctor days or weeks in advance of a cardiac event?”
Here are a pair of funds to consider:
- Global X Internet of Things ETF (SNSR): seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Global Internet of Things Thematic Index. The fund invests at least 80% of its total assets in the securities of the underlying index. The underlying index is designed to provide exposure to exchange-listed companies in developed markets that facilitate the Internet of Things industry, including companies involved in wearable technology, home automation, connected automotive technology, sensors, networking infrastructure/software, smart metering, and energy control devices.
- Global X Funds – Telemedicine and Digital Health ETF (EDOC): The Global X Telemedicine & Digital Health ETF (EDOC) seeks to invest in companies positioned to benefit from further advances in the field of telemedicine and digital health. This includes companies involved in Telemedicine, Health Care Analytics, Connected Health Care Devices, and Administrative Digitization. The Global X Telemedicine & Digital Health ETF (EDOC) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Telemedicine & Digital Health Index.
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