The Internet of Things (IoT) has revolutionized various industries, and healthcare is no exception. The IoT in healthcare market is experiencing rapid growth, driven by the increasing adoption of connected devices and the need for efficient healthcare delivery. The integration of IoT technology in healthcare enables real-time monitoring, remote patient management, and improved operational efficiency.
The global Internet of Things (IoT) in healthcare market size was USD 108.40 Billion in 2022 and is expected to register a revenue CAGR of 17.50% during the forecast period, according to latest analysis by Emergen Research. One of the key drivers of the IoT in healthcare market is the growing demand for remote patient monitoring. IoT devices such as wearables, smart sensors, and connected medical devices allow healthcare providers to monitor patients' vital signs, medication adherence, and overall health remotely. This enables early detection of health issues, reduces hospital readmissions, and improves patient outcomes.
Another driver is the need for efficient healthcare delivery. IoT-enabled devices and systems streamline healthcare processes, automate data collection, and enhance communication between healthcare providers and patients. This leads to improved operational efficiency, reduced healthcare costs, and enhanced patient satisfaction.
However, there are certain restraints that may hinder the growth of the IoT in healthcare market. One of the major challenges is data security and privacy concerns. With the increasing number of connected devices and the exchange of sensitive patient information, there is a need for robust security measures to protect patient data from cyber threats and unauthorized access.
Additionally, interoperability issues pose a challenge to the widespread adoption of IoT in healthcare. The integration of various IoT devices and systems from different manufacturers can be complex, leading to compatibility issues and data fragmentation. Standardization efforts are underway to address these challenges and ensure seamless interoperability.
In terms of recent product launches, here are a few examples:
- In May 2023, Philips launched the Philips HealthSuite System, an IoT platform that enables the secure collection, storage, and analysis of healthcare data from various sources. This platform allows healthcare providers to gain insights and make informed decisions for personalized patient care.
- In April 2023, Medtronic introduced the Guardian Connect CGM system, an IoT-enabled continuous glucose monitoring system for people with diabetes. This system wirelessly transmits glucose data to a smartphone app, allowing users to monitor their glucose levels in real-time and make informed decisions about their diabetes management.
Emergen Research's latest market research report, titled Global Internet of Things in Healthcare Market, provides estimated market size and shares, latest industry trends, global market growth rates, key drivers and opportunities, constraints, product segmentation, and major market players. Cost structure, market size, competitive landscape, product portfolio and specifications, and company profiles.
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The Global Internet of Things in Healthcare Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario.
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Provide chapter-wise guidance on request 2022 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Emergen Research methodology.
Competitive Terrain:
The global Internet of Things in Healthcare industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Key Players Operating in the Global Internet of Things in Healthcare Market are:
Medtronic, Cisco Systems, Inc., IBM Corporation, GE Healthcare, Microsoft, SAP, Infosys Limited, Oracle, Qualcomm Technologies, Inc., Intel Corporation
The Research covers the following objectives:
To study and analyze the Global Internet of Things in Healthcare Market by key regions/countries, product type and application, history data from forecast to 2030.
To understand the structure of Internet of Things in Healthcare Market by identifying its various sub-segments.
Focuses on the key global Internet of Things in Healthcare Market manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, Porter’s five forces analysis, SWOT analysis and development plans in the next few years.
To analyze the Internet of Things in Healthcare Market with respect to individual growth trends, future prospects, and their contribution to the total market.
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Segments Covered in this report are:
-
Component Type Outlook (Revenue, USD Billion; 2019-2032)
- Medical Devices
- Stationary Medical Devices
- Implanted Medical Devices
- Wearable External Medical Devices
- Systems & Software
- Remote Device Management
- Network Bandwidth Management
- Data Analytics
- Application Security
- Network Security
- Services
- Deployment & Integration
- Consulting
- Support & Maintenance
- Medical Devices
-
Technology Outlook (Revenue, USD Billion; 2019-2032)
- Wi-Fi
- Bluetooth Low Energy
- ZIGBEE
- Near-Field Communication
- Cellular
- Satellite
-
Application Outlook (Revenue, USD Billion; 2019-2032)
- Telemedicine
- Remote Patient Monitoring
- Interactive Telemedicine
- Clinical Operations & Workflow Management
- Connected Imaging
- In-Patient Monitoring
- Medication Management
- Other Applications
- Telemedicine
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Regional Outlook:
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
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