Internet of Things in Healthcare Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, Australia, India, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3133
Internet of Things in Healthcare Market size is projected to experience significant growth from 2019 to 2025.
Growing demand for remote patient monitoring in order to improve out-of-hospital care will be one of the major market driving factor responsible for the market growth. As per the recent news, remote patient monitoring is estimated to be standardized in all forms of healthcare services in order to manage the growing geriatric population suffering from chronic diseases properly. Increase in patient demand for better access to healthcare and aging population with chronic conditions that require regular checkup and care will lead to boosting the demand and adoption of smart healthcare products, enhancing the business growth.
Recent technological advancements in healthcare IT infrastructure will make it easy for implementation of healthcare internet things. The healthcare organizations are in dire need of efficient IT solutions in order to enhance operational, clinical and administrative properties. Proper healthcare IT infrastructure will be a prerequisite for better implementation of new solutions and technology. Hence, these recent technological advancements in healthcare industry will favor the growth of internet of things in healthcare market.
Lack of security and privacy will leave the patient data at risk due to the sensitivity and criticality of the information. Also, lack of awareness among the people living in developing economies will impede the market growth in the forthcoming years.
Medical devices market segment is estimated to show robust growth over the forecast time period. As the global population is aging and the number of people suffering from chronic disease is increasing, healthcare companies are rapidly shifting towards providing high-tech solutions. The production of advanced wearable and medical devices is reducing healthcare cost and improving patient outcomes. Hence, these advantages will be responsible for driving the business growth in near future.
The use of internet of things in telemedicine will witness significant amount of growth in the forthcoming years. Telemedicine has shown crucial applications to overcome barriers in health services caused by distance between service provider and patient. Also, the use of telemedicine can help enhance the quality of care for patients with both mental and medical health conditions. Increase in applications in telemedicine will lead to growing demand adoption of the products, fueling the industry growth.
The hospitals segment is forecasted to show significant amount of growth over the upcoming years. Several benefits such as less hospital stays, efficient diagnosis, reduce risk of hospital infections and proper data management in the hospitals will result in high adoption, augmenting the market growth in the near future.
U.S. internet of things in healthcare market is forecasted to show high market share owing to presence of well established market players in the country, high healthcare expenditure, and presence of technologically advanced healthcare infrastructure. Also, high prevalence of chronic disorders in the region will lead to growing demand and adoption rate of smart healthcare devices, fueling the business growth.
India internet of things in healthcare market will witness significant growth over the forecast timeframe. Growing elderly population in the region, rise in awareness among the people regarding applications of internet of medical things and increase in healthcare expenditure will pave way for the business growth in the upcoming years.
Few of the key industry players include GE Healthcare Ltd., Medtronic PLC, St. Jude Medical Inc., International Business Machine Corporation (IBM) and Microsoft Corporation. These companies focus mostly on novel product launches, merger, approvals and acquisition as their main market expansion strategies.
Internet of Things in Healthcare Market, by Product, 2014-2025 (USD Million)
- Medical Devices
- Wearable devices
- Implantable devices
- Stationary devices
- Software & Systems
- Network bandwidth management
- Remote device management
- Data analytics
- Application security
- Network security
- Support and maintenance services
- Consulting and training services
- System integration services
Internet of Things in Healthcare Market, by Application, 2014-2025 (USD Million)
- Connected imaging
- Clinical operations and workflow management
- Inpatient monitoring
- Medication management
Internet of Things in Healthcare Market, by End-use, 2014-2025 (USD Million)
- Hospitals and Clinics
- Clinical research organizations
- Government and defense organization
- Research and diagnostic laboratories
- Individual user
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- GE Healthcare Ltd.
- Medtronic PLC
- St. Jude Medical Inc.
- International Business Machine Corporation (IBM)
- Microsoft Corporation
- Koninklijke Philips N.V.
- Qualcomm Life Inc.
- Cisco Systems Inc.
- Proteus Digital Health Inc.
- Alphabet Inc. (Google)
- Cerner Corporation
- Qualcomm Life
- Stanley Healthcare
LSI key words
- Internet of Things (IoT) In Healthcare Market
- IoT in Healthcare Market
- Healthcare Internet of Things Market
- Internet of Medical Things (IoMT) Market
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