Software
Global Internet of Things (IoT) in Healthcare Market Opportunities and Forecast 2022-2029
  • DLR504
  • 31 October, 2022
  • Service & Software
  • Pages: 120
  • Global
Global Internet of Things (IoT) in Healthcare Market Forecast 2029

IoT comprises of intermediary components, which includes devices, network connectivity, electronics system, and software, which are basically the networking of smart electronic devices or things to transmit data signals in the absence of human presence. Increasing focus on active patient engagement and patient-centric care and growing need for adoption of cost-control measures in the healthcare sector are the factors driving the growth of the IoT in healthcare market. IoT, has the potential to revolutionize the traditional paper-based healthcare treatment through simplifying access of remote patient monitoring and real-time patient data. The emergence of this digital healthcare technology, has addressed the impending need for better diagnostics and targeted therapeutic tools.

The Internet of Things (IoT) is revolutionising healthcare by making it possible for various devices and systems to communicate with each other. This interconnectedness can provide a wealth of data that can be used to improve patient care, manage chronic conditions, and even predict epidemics.

The potential applications of IoT in healthcare are nearly limitless. For example, hospitals can use IoT-enabled devices to track inventory levels and movements in real time, which can help reduce waste and improve efficiency. Patients can also benefit from wearable devices that track their health data and alert their doctors of any changes.

IoT is still in its early stages in healthcare, but the potential benefits are already clear. As the technology continues to develop, we can expect even more transformative applications that will change the way we provide and receive healthcare

Market Overview:

The growth of high-speed network technologies for IoT connectivity, and increasing focus on patient-centric service delivery through various channels are also anticipated to increase the market potential in the forecast period. The global internet of things (IoT) healthcare market is projected to witness considerable growth during the forecast period, attributed to technological advancements, growing demand for cost-effective treatment and disease management, rising incidence rates of chronic diseases, better accessibility of high-speed internet, favourable government regulatory policies, and collaboration of leading IT companies with healthcare industry. The outdated infrastructure limiting the digital growth of the medical industry is projected to hamper the growth of the Internet of Things (IoT) in healthcare market in the projected period.

Report Description:

  • The base year for the study has been considered 2019, historic year 2018, 2019, and 2020, the forecast period considered is from 2022 to 2029
  • The study delivers a comprehensive analysis of global Internet of Things (IoT) in healthcare market based on segmentation, component, application, technology, end-user, and region
  • The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2022 to 2029
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the global Internet of Things (IoT) in healthcare market. This report incorporates the industry analysis which is focused on providing an extensive view of the Internet of Things (IoT) in healthcare market
  • The study also includes attractiveness analysis of component, application, technology, end-user, and region which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market
  • The report provides company profile of the key players operating in the Internet of Things (IoT) in healthcare market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases
The Benefits of Internet of Things (IoT) in Healthcare Market:

The Internet of Things (IoT) in healthcare is a network of devices, sensors, and software that collect and exchange data. The IoT has the potential to transform how healthcare is delivered and managed.

There are many benefits of IoT in healthcare, including:

1. Improved patient care: The IoT can help doctors and nurses provide better patient care by giving them real-time access to patient's vital signs and medical records.
2. Reduced costs: The IoT can help healthcare organizations reduce costs by automating tasks, such as medication administration and asset management.
3. Improved coordination: The IoT can improve coordination between different members of the healthcare team, such as doctors, nurses, and pharmacists.
4. Better decision-making: The IoT can help healthcare professionals make better decisions by providing them with data from a variety of sources. 
5. Increased security: The IoT can help increase security in healthcare facilities by providing real-time monitoring of patients and staff.

Market Dynamics:


Drivers:
  • Increasing Focus on Active Patient Engagement and Patient-Centric Care
  • Growing Need for the Adoption of Cost Control Measures in Healthcare
  • Rising Development of High-Speed Network Technologies for IoT Connectivity
Restraints:
  • Outdated Infrastructure Limits the Digital Growth of the Medical Industry which is hampering the growth of the market
Opportunities:
  • Government Initiatives for Promoting Digital Health
  • Increasing Investment in Healthcare Industry

Segmentation Analysis:

  • The Internet of Things (IoT) in Healthcare market is segmented on the basis of component, application, technology, and end-user.
  • On the basis of component, the IoT in healthcare market is segmented into medical device, systems & software, services, and connectivity technology. The medical device segment dominated the global Internet of Things (IoT) in healthcare market
  • On the basis of application, the IoT in healthcare market is segmented into telemedicine, connected imaging, inpatient monitoring, clinical operations and workflow management, medication management, and others. The inpatient monitoring segment held the largest share as it provides various monitoring systems designed to collect physiological information, which is analyzed and stored using gateways and clouds
  • On the basis of technology, the IoT in healthcare market is divided into wi-fi, bluetooth low energy, zigbee, cellular, and satellite. The plastic segment hold largest market share owing to increasing demand of Internet of Things (IoT) in Healthcare made of plastic Technology
  • On the basis of end-user,  the IoT in healthcare market is segmented is divided into hospitals, surgical centers, and clinics, clinical research organizations, government and Defence institutions, and research and diagnostic laboratories. Offline segment is further segmented into large format stores, specialty stores, and small retail stores. Hospitals, surgical centers, and clinics segment is leading the demand for Internet of Things (IoT) in healthcare industry owing to increasing deployment of IoT in hospitals, surgical centers, and clinics.

Regional Segmentation Analysis:

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific region is projected to dominate the global Internet of Things (IoT) in healthcare market as it holds near to 50% of the world’s population, and therefore major technological shifts, which includes IoT are likely to shape the future of the region. Many Asian countries, such as China, India, and Japan, are leveraging information-intensive IoT technologies, to cater to the increasing healthcare service demand.

Global Internet of Things (IoT) in Healthcare Market Competitive Analysis:

Key players in the Internet of Things (IoT) in healthcare market are Agamatrix, Armis, Capsule Technologies, Comarch SA, Cisco Systems, GE Healthcare, IBM Corporation, Intel, KORE Wireless, Medtronic, Microsoft Corporation, OSP Labs,  Resideo Technologies, Royal Philips, SAP SE, Sciencesoft, Softweb Solutions, STANLEY Healthcare, Telit, and Welch Allyn and among others competitors.

All our reports are customizable as per customer requirements:

This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2027. Global Internet of Things (IoT) in Healthcare market on the basis of below mentioned segments:

Global Internet of Things (IoT) in Healthcare Market, By Component:
  • Medical Device
  • Systems & Software
  • Services
  • Connectivity Technology

Global Internet of Things (IoT) in Healthcare Market, By Application:
  • Telemedicine
  • Connected Imaging
  • Inpatient Monitoring
  • Clinical Operations and Workflow Management
  • Medication Management
  • Others

Global Internet of Things (IoT) in Healthcare Market, By Technology:
  • Wi-Fi
  • Bluetooth Low Energy
  • Zigbee
  • Cellular
  • Satellite

Global Internet of Things (IoT) in Healthcare Market, By End-User::
  • Hospitals, Surgical Centers, and Clinics
  • Clinical Research Organizations
  • Government and Defence Institutions
  • Research and Diagnostic Laboratories

Global Internet of Things (IoT) in Healthcare Market, By Region:
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • UAE
    • Rest of LAMEA


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