What is the global market size of IOT In Healthcare Market?

IOT In Healthcare Market size was valued at USD 215.4 billion in 2021 and is poised to grow from USD 252.1 billion in 2022 to USD 926.9 billion by 2030, growing at a CAGR of 16.8% in the forecast period (2023-2030).

Who are the key vendors in the Global IOT In Healthcare Market?

The Global IOT in Healthcare Market are characterized by a fragmented landscape and fierce competition among industry participants. The players have focused their efforts on bolstering their IOT in Healthcare Market position through mergers and acquisitions, alliances, and global development. These techniques assist businesses in expanding their geographic reach and improving their service offerings in both domestic and foreign markets. 'AdhereTech', 'Capsule Technologies, Inc.', 'Cerner Corporation', 'Cisco Systems, Inc.', 'GE Healthcare', 'Honeywell International, Inc.', 'IBM Corporation', 'Intel Corporation', 'Koninklijke Philips N.V.', 'Medtronic Plc', 'Microsoft Corporation', 'NXP Semiconductors N.V.', 'Qualcomm Life, Inc.', 'Siemens AG', 'STMicroelectronics N.V.', 'Telit Communications PLC', 'Terumo Corporation', 'Texas Instruments Incorporated', 'Welch Allyn, Inc. (A Hill-Rom Company)', 'Zebra Technologies Corporation'.

What is the key driver of Global IOT In Healthcare Market?

The global IOT in healthcare market is driven by rising cases of chronic diseases such as genetic diseases, respiratory diseases, COPD, and others. The market is also growing due to favorable government policies and high internet accessibility. demand for disease management and cost efficient treatments is supporting the need for smart devices and wearables.

What is the key market trend for Global IOT In Healthcare Market?

People all over the world are becoming more aware of self-health management as early-life issues become more prevalent. The growing health-consciousness of the young and active population is driving the adoption of wearable devices. With the introduction of wearable medical devices, it has become much easier and more convenient to monitor health concerns. According to the International Diabetes Federation (IDF), the majority of the world is affected by diabetic issues. Nonetheless, 46% of patients are not diagnosed on time. As a result, people are increasingly turning to wearable medical devices to conduct regular health checks.

Which region accounted for the largest share in Global IOT In Healthcare Market?

The North American segment accounted for a key share in 2020 and is predicted to continue this trend due to rapid technological advancements, increasing investments from top players, supportive government regulations, and a rise in the prevalence of chronic diseases, and the demand for cost-effective disease management. In contrast, Asia-Pacific is expected to register a CAGR of 17.40% during the forecast period. There are several reasons for this, including rapidly changing healthcare infrastructure in developing countries like India and China, a large patient population, public awareness, and increasing healthcare spending.

IoT In Healthcare Market Size, Share, Growth Analysis, By Component(Devices, System & Software, and Services), By Application(Patient Monitoring, Clinical Operation & Workflow Optimization, Connected Imaging, Fitness & Wellness Measurement), By End User(Healthcare Providers, Patients, Healthcare Payers, Research Laboratories), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35G2103 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 138 | Figures: 77

IoT In Healthcare Market Insights

Global IoT in Healthcare Market size was valued at USD 215.4 Billion in 2022 poised to grow from USD 252.1 Billion in 2023 to USD 926.9 Billion by 2031, growing at a CAGR of 16.8% in the forecast period (2024-2031).

The term "internet of things" (IoT) refers to a physical device network that leverages connectivity to allow for data exchange. Additionally, IoT is used in the healthcare field for data collecting, analysis, research, and monitoring of electronic health records, which include protected health information, personally identifiable information, and other machine-generated healthcare data. Furthermore, IoT applications in healthcare relieve some of the workload for medical professionals and facilitate crucial activities like improving patient outcomes. The healthcare industry can now monitor patients remotely thanks to Internet of Things (IoT)-enabled gadgets, which have enormous potential to keep patients safe and well.

The pandemic has altered providers' receptiveness to deploying IoT solutions, which has aided in the use of IoT for virus diagnosis. In addition, a lot of IoT technology is increasingly assisting authorities in treating sick individuals and stopping the spread of COVID-19. IoT, particularly and particularly in conjunction with other revolutionary technologies like cloud computing and artificial intelligence (AI). As a result, there were numerous IoT applications in healthcare during this crisis. For example, the WHO reports that in 2020, employees and patients at a field hospital in Wuhan, China, wore rings and wristbands that were synced with artificial intelligence.

US IOT In Healthcare Market is poised to grow at a sustainable CAGR for the next forecast year.

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The fierce competition between the top technology and healthcare businesses characterises the global IoT in healthcare industry. Medtronic, GE Healthcare, Philips, Siemens Healthineers, and IBM Watson Health are important participants. By improving healthcare delivery and operational efficiency, these companies foster innovation through cutting-edge IoT solutions for telemedicine, data analytics, and patient monitoring. Common tactics to keep a competitive edge and increase market presence include strategic alliances, acquisitions, and R&D expenditures. 'AdhereTech (US) ', 'Capsule Technologies, Inc. (US) ', 'Cerner Corporation (US) ', 'Cisco Systems, Inc. (US) ', 'GE Healthcare (US) ', 'Honeywell International, Inc. (US) ', 'IBM Corporation (US) ', 'Intel Corporation (US) ', 'Koninklijke Philips N.V. (Netherlands) ', 'Medtronic Plc (Ireland) ', 'Microsoft Corporation (US) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Qualcomm Life, Inc. (US) ', 'Siemens AG (Germany) ', 'STMicroelectronics N.V. (Switzerland) ', 'Telit Communications PLC (US)'

The healthcare sector has unavoidably been impacted by the Internet of Things. The number of health-connected devices and the connected medical device market are rising as connected technology permeates more aspects of daily life, according to the healthcare sector. With the use of linked medical equipment and medical mobile applications, IoMT connects people (patients, clinicians, and carers) and data (patient information or performance data).

AI and IoT in Personalized Therapy and Predictive Analytics: One of the main trends in the worldwide IoT in healthcare industry is the rise of wearable health devices. Leading the way are businesses like Apple and Fitbit, which provide cutting-edge monitoring solutions that track physical activity and vital signs. These gadgets improve data gathering and patient self-management for improved medical results.

North America's sophisticated technology infrastructure, large healthcare spending, and robust legislative support have allowed it to lead the world's IoT in healthcare sector. Thanks to large investments in R&D and innovation, the region has a high adoption rate of cutting-edge healthcare technology, including IoT. To improve patient care and operational efficiency, top IT businesses and healthcare organizations in North America are leading the way in IoT solutions for telemedicine, data analytics, and patient monitoring. The market is further propelled by encouraging government programmes and activities targeted at enhancing the quality and accessibility of healthcare.

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IoT In Healthcare Market Insights

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What is the global market size of IoT In Healthcare Market?

Who are the key vendors in the IoT In Healthcare Market?

What is the key driver of IoT In Healthcare Market?

What is the key market trend for IoT In Healthcare Market?

Which region accounted for the largest share in IoT In Healthcare Market?

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