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Aug 17, 2023
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A Global Internet of Things in Healthcare Market Research Report from Emergen Research has been formulated by analyzing key business details and an extensive geographic spread of the Internet of Things in Healthcare industry, encompassing key business details and extensive geographical coverage. In addition to providing crucial statistical data about the Internet of Things in Healthcare market, this study covers qualitative and quantitative aspects of the Internet of Things in Healthcare market. A comprehensive analysis of established and emerging players in the market is summarized in the report. The report also covers the business overview, the product portfolio, and the strategic alliances and expansion strategies of the companies.
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.
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Due to movement restrictions and lockdowns due to the current COVID-19 pandemic, the growth of the Internet of Things in Healthcare industry is expected to be negatively affected. In addition to the impact of the COVID-19 pandemic on numerous global markets, the Internet of Things in Healthcare industry is expected to feel the effect as well. The slowdown in economic growth and dynamic changes in demand will further affect industry growth. The report covers the impact analysis of the COVID-19 pandemic on the overall Internet of Things in Healthcare industry.
Radical Highlights of the Internet of Things in Healthcare Market Report:
Comprehensive overview of the Internet of Things in Healthcare market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Internet of Things in Healthcare market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Internet of Things in Healthcare market expected to boost the growth of the industry in the coming years.
Internet of Things in Healthcare Market Segmentation:
Component Type Outlook (Revenue, USD Billion; 2019-2032)
Medical Devices
Systems & Software
Services
Deployment & Integration
Consulting
Support & Maintenance
Remote Device Management
Network Bandwidth Management
Data Analytics
Application Security
Network Security
Stationary Medical Devices
Implanted Medical Devices
Wearable External 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
Clinical Operations & Workflow Management
Connected Imaging
In-Patient Monitoring
Medication Management
Other Applications
Remote Patient Monitoring
Interactive Telemedicine
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Internet of Things in Healthcare market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Medtronic, Cisco Systems, Inc., IBM Corporation, GE Healthcare, Microsoft, SAP, Infosys Limited, Oracle, Qualcomm Technologies, Inc., Intel Corporation
Regional Landscape section of the Internet of Things in Healthcare report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Additional information offered by the report:
Along with a complete overview of the global Internet of Things in Healthcare market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Internet of Things in Healthcare market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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Highlights of Table of Contents (TOC):
Overview of Global Internet of Things in Healthcare Market
Competitive analysis of the Internet of Things in Healthcare market
Regional analysis of Global Internet of Things in Healthcare market production and revenue
Regional analysis of Global Internet of Things in Healthcare market supply, consumption, and export & import
Type-based market analysis of global Internet of Things in Healthcare production, revenue, and price trends
Application-based analysis of the global Internet of Things in Healthcare market
Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Internet of Things in Healthcare market
Conclusion of the research report
Appendix
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