EUROPEAN PHARMA
GETS CONNECTED The number of connected devices is expected to increase dramatically over the next decade. Big players within the European healthcare industry are taking this on board and embracing the latest IoT technologies, as Industry Europe discovers.
T
he IoT – the ever-expanding network of objects embedded with sensors, electronics chips, software and connected to the Internet – enables everyday objects to be monitored and controlled remotely. And with patients becoming more and more used to smart phone technologies in their daily lives, the healthcare sector – which currently consumes about 10 per cent of Europe’s GDP – has recognised the need to adopt these technologies more widely to increase efficiency and combat diseases. Achieving the kind of industry opportunities offered by the IoT in Europe requires the connection of some 25 billion objects in the EU28 6 Industry Europe
alone. This, according to the global management consultancy firm A.T. Kearney in its report, ‘The Internet of Things: A New Path to European Prosperity’ (2016), would represent an annual opportunity worth €80 billion for the entire gamut of IoT solutions providers, including Components and Module Makers (such as Telit and Gemalto); Object Manufacturers (such as Siemens or Philips); Connectivity Providers (such as Google or IBM) and more besides.
Promising areas for development There are a few key areas in which we can expect to see significant efficiency gains from IoT technologies in the coming years. It has
the capacity to improve monitoring of chronic conditions such as diabetes, asthma, multiple sclerosis and heart disease, and support better patient compliance with medication regimes. This could translate to huge savings: nonmedication compliance, for example, currently costs €66 billion and IMS Health-France has estimated that this could be reduced by up to €53 billion through the use of devices such as ingested sensor connected pillboxes. But it is not just about monitoring alreadydiagnosed diseases – the continuous monitoring of vital signs, motions and so on should also greatly improve the early detection of diseases and hence, the possibilities for disease
