IoT in Healthcare Market: Summary
The Global IoT in Healthcare Market is projected to reach a value of USD 250.97 billion by 2027 at a CAGR of 21.1%.
The Internet of Things (IoT) is described as a network of physical devices, which uses the connectivity to improve the exchange of data. It helps to enable interoperability, machine-to-machine communication, information exchange, as well as data movement that makes healthcare service delivery more effective. IoT for healthcare can be also be used for research purposes. Global IoT in healthcare market is rising with growth of big data in healthcare. However, data privacy and security concerns are expected to hinder the growth of the market.
IoT in Healthcare Market: Market Dynamics
- Demand IoT for COVID-19 Patient Monitoring
- There has been demand of IoT for COVID-19 patient monitoring will play a significant role for the IoT in healthcare market. As the novel coronavirus pandemic has led to cause a significant changes in the healthcare sector. The hospital and the diagnostic centers has started the adoption of IoT based system
- In 2020, as per the World Health Organization (WHO) the medical professionals and the patients at the field hospital in Wuhan China has been started adopting Cloud Mind AI synched bracelets as well as the rings synched with the AI platform. Hence, this will lead to use for constant monitoring of the vital signs such as temperatures, heart rate and the blood oxygen level in the Covid-19 pandemics
- For example, the rapid spread of the virus and the limited medical staff has lead the governments to take initiatives for the adoption of technologies such as IoT, blockchain and artificial intelligence. These is projected to support the medical professional to treat patients and consult in the remote location area
- The patient monitoring facilities the healthcare sector to real time monitor patients from any location throughout the globe. This will also lead to help the patient located at the remote areas
- Furthermore, the real time patient monitoring has assisted in controlling the spread of the Covid-19, lead to increase the growth of IoT.
- Rising Government Support to Promote Digitization
- Rising Demand for Wearable Devices
- Data Privacy and Security Concerns
IoT in Healthcare Market: Key Segments
The IoT in healthcare market is majorly segmented into component, connectivity technology, application and end-user.
- On the basis of component, the market is sub segmented into medical devices, system and services, and services.
- On the basis of connectivity technology, the market is bifurcated into Wi-Fi, near field communication (NFC), cellular, satellite, Bluetooth low energy and zigbee. The cellular segment is projected to emerge as the largest segment. As this technology permit the send the huge amount of data over a long range.
- On the basis of application, the market is sub segmented into telemedicine, connected imaging, medication management, clinical operations, inpatient monitoring and others. The inpatient monitoring is excepted to hold the share in the forecast period. As it involved continuous measurement of the patient physiological functions for the guiding management decision as well as making therapeutic interventions.
- On the basis of end-user, the market is bifurcated into clinical research organizations, research and diagnostic laboratories, hospitals and clinics and others.
IoT in Healthcare Market: Key Regions
On the basis of region, the market is divided into Americas, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Americas accounted for the major market share, as the US is accounted for the largest revenue share in the region. The rising initiatives by the government for the adoption of digital platform also create a major opportunities for the market growth in the region. However, Asia-Pacific is projected grow at the fastest growth rate, increasing initiatives for promoting connected health services in the region.
IoT in Healthcare Market: Report Scope
The report on the IoT in healthcare market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
2020-2027 (2020 estimated year, forecast up to 2027)
Value (USD Million)
Component, Connectivity Technology, Application, and End-User
Americas, Asia-Pacific, Europe, Middle East & Africa
Key Companies Covered
- Capsule Technologies, Inc. (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
- Cerner Corporation
- Cisco Systems, Inc.
- General Electric
- IBM Corporation
- Koninklijke Philips NV
- SAP SE
- Other Key Companies
IoT in Healthcare Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
IoT in Healthcare Market, by Component
- Medical Devices
- Stationary Medical Devices
- Wearable External Devices
- Implanted Medical Devices
- System And Software
- Application Security
- Network Security
- Remote Device Management
- Network Bandwidth Management
- System Integration
- Consulting and Training
- Support and Maintenance Services
IoT in Healthcare Market, by Connectivity Technology
- Near Field Communication (NFC)
- Bluetooth low energy
IoT in Healthcare Market, by Application
- Connected Imaging
- Medication Management
- Clinical Operations
- Inpatient Monitoring
IoT in Healthcare Market, by Application
- Disaster management
- Energy and Resource Management
- Surveillance and Monitoring
IoT in Healthcare Market, by End-User
- Clinical Research Organizations
- Research and Diagnostic Laboratories
- Hospitals and Clinics
IoT in Healthcare Market, by Region
- North America
- Latin America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- IoT in Healthcare Market Providers
- IoT in Healthcare Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of IoT in Healthcare Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE IoT in Healthcare Market STUDY