IoT in Healthcare Market by Competitive Landscape, SWOT Analysis, Opportunities and Challenges, Growth by 2022 to 2030

 

IoT in Healthcare Market

IoT in Healthcare Market was valued at $113.75 billion in 2019 and is expected to reach $332.67 billion by 2027, registering a CAGR of 13.20% from 2020 to 2027.

The rising focus on active patient engagement and patient-centric care, the growing need for cost-control measures in the healthcare sector, the growth of high-speed network technologies for IoT connectivity, and the increasing focus on patient-centric service delivery through various channels are key factors driving the growth of the IoT in healthcare market.

The internet of things (IoT) is a network of physical devices that employs connectivity to allow data to flow between them. IoT is also employed in the healthcare field for data collecting, analysis, and monitoring of electronic health records that contain personally identifiable information, protected health information, and other machine-generated healthcare data. Furthermore, IoT applications in healthcare help with critical duties including improving patient outcomes and relieving part of the strain from healthcare providers. Remote monitoring in the healthcare industry is now possible thanks to Internet of Things (IoT)-enabled gadgets, which have the potential to keep patients safe and healthy while also empowering clinicians to provide superior treatment.

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Global IoT in Healthcare Market: By Key Players

Stanley Healthcare (U.S.)

Medtronic Plc (U.S)

Qualcomm Life, Inc. (U.S.)

Cisco Systems Inc. (U.S)

SAP SE (Germany)

IBM Corporation (U.S.)

Microsoft Corporation (U.S.)

Royal Philips (The Netherlands)

Honeywell Life Care Solutions (U.S.)

GE Healthcare (U.S.)

Global IoT in Healthcare Market: By Types

Medical Device

Systems & Software

Service

Connectivity Technology

Global IoT in Healthcare Market: By Application

Telemedicine

Work Flow Management

Connected Imaging

Medication Management

IoT in Healthcare Market: Regional Outlook

Based on the region, the global IoT in healthcare market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America has the largest share market in IoT in Healthcare due to the high adoption rate of advanced technologies in the healthcare sector in the region, especially in the US. Moreover, Asia Pacific is expected to project a considerable CAGR in IoT in healthcare market during the forecast period. This growth is attributed to the increasing spending of the governments on improving the medical facilities.

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Factors Influencing the IoT in Healthcare Industry Over the Forecast Period:

The key factors for industry growth are the increasing adoption of wearable technology, the emergence of connected cars, and investments in digital technologies in healthcare applications. Moreover, the increasing focus on technological advancements and the increasing geriatric population associated with rising chronic conditions prevalence rates positively impact the market expansion rate in the coming years.

According to one research executed by a network provider company in Aruba, almost 87% of the healthcare organizations worldwide will adopt IoT services by 2020. Researchers surveyed include approximately 3,100 IT enterprises comprised of healthcare and business decision-makers in 20 countries. This study concluded that healthcare institutions launched IoT to foster innovations, improve patient monitoring, and reduce costs.

Some Points from Table of Content

1 IoT in Healthcare Introduction and Market Overview

 1.1 Objectives of the Study

 1.2 Overview of IoT in Healthcare

 1.3 IoT in Healthcare Market Scope and Market Size Estimation

 1.3.1 Market Concentration Ratio and Market Maturity Analysis

 1.3.2 Global IoT in Healthcare Revenue and Growth Rate from 2018-2030

 1.4 Market Segmentation

 1.4.1 Types of IoT in Healthcare

 1.4.2 Applications of IoT in Healthcare

 1.4.3 Research Regions

 1.5 Market Dynamics

 1.5.1 IoT in Healthcare Industry Trends

 1.5.2 IoT in Healthcare Drivers

 1.5.3 IoT in Healthcare Market Challenges

 1.5.4 IoT in Healthcare Market Restraints

 1.6 Industry News and Policies by Regions

 1.6.1 Industry News

 1.6.2 Industry Policies

 1.7 Mergers & Acquisitions, Expansion Plans

 1.8 IoT in Healthcare Industry Development Trends under COVID-19 Outbreak

 1.8.1 Global COVID-19 Status Overview

 1.8.2 Influence of COVID-19 Outbreak on IoT in Healthcare Industry Development

2 Industry Chain Analysis

 2.1 Upstream Raw Material Supply and Demand Analysis

 2.1.1 Global IoT in Healthcare Major Upstream Raw Material and Suppliers

 2.1.2 Raw Material Source Analysis

 2.2 Major Players of IoT in Healthcare

 2.2.1 Major Players Manufacturing Base of IoT in Healthcare in 2022

 2.2.2 Major Players Market Distribution in 2022

 2.3 IoT in Healthcare Manufacturing Cost Structure Analysis

 2.3.1 Production Process Analysis

 2.3.2 Manufacturing Cost Structure of IoT in Healthcare

 2.3.3 Labor Cost of IoT in Healthcare

 2.4 Market Channel Analysis of IoT in Healthcare

 2.5 Major Down Stream Customers by Application

3 Global IoT in Healthcare Market, by Type

 3.1 Global IoT in Healthcare Revenue and Market Share by Type (2018-2021)

 3.2 Global IoT in Healthcare Production and Market Share by Type (2018-2021)

 3.3 Global IoT in Healthcare Revenue and Growth Rate by Type (2018-2021)

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The Internet of Things (IoT) has the potential to transform traditional paper-based healthcare by making real-time patient data and remote patient monitoring more accessible. The rise of digital healthcare technology has addressed the urgent demand for improved diagnostics and tailored therapy solutions. It also serves as a fitness and wellness tracker for athletes, as well as a dosing reminder for patients, in addition to providing remote patient monitoring to clinicians. The IoT healthcare market is in high demand due to the effective application of IoT in remote monitoring of diabetes and asthma patients, as well as the high penetration of fitness and wellness gadgets.

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