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The IoT in Healthcare Market report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market. The report focuses on global major leading companies providing information such as company profiles, sales, sales revenue, market share and contact information. Finally the marketing, feasibility of new investment projects are assessed and overall research conclusions offered.
According to our new research study on “IoT in Healthcare Market Forecast to 2025 –Global Analysis – by Solution, Services, Application, and End User,” the market is expected to reach US$ 135.87 billion in 2025 from US$ 20.15 billion in 2015; it is estimated to grow at a CAGR of 21.2% from 2016 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the artificial intelligence in healthcare market is attributed to the increased adoption of smart devices and wearables, need for workforce optimization, and decreasing cost of sensors. However, high cost associated with smart devices and IoT infrastructure, security and privacy concerns and varying standards and lack of interoperability are the major factor hindering the market growth.
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IoT is gaining much traction in several industries and devices are becoming intelligent, instrumental and interconnected. The IoT technology is changing the way people live and work. IoT is transforming healthcare industry as well by redefining how devices, applications and people connect to deliver healthcare solutions. The constant development of new tools and efficiencies to upgrade healthcare system is helping in improving patient care, reducing treatment costs as well as treatment outcomes.
The global IoT in Healthcare market has been segmented by Solution into medical systems & devices; and software solutions & tools. The medical systems & devices market is further sub-segmented into on-body wellness, on-body healthcare and implanted devices. Furthermore, the software solutions & tools market is sub-segmented into data analytics tools & solutions, network management solutions and security solutions.
On the basis of services, the market is bifurcated into professional and integration services. The application segment of IoT in Healthcare market is classified into medication management, patient monitoring, fitness & wellness measurement, clinical workflow management and others. Also, by end-user, the market is categorized into patients & individuals, diagnostic & research centers and labs, hospitals & healthcare institutes and government authority. The hospital & healthcare institutes under end-user segment had accounted for the largest share of the IoT in Healthcare market in 2015 and is expected to continue its dominance to grow at the highest CAGR of 21.7% between 2016 and 2025.
IoT in healthcare market by end-user vertical is segmented into patients & individuals, diagnostic & research and labs, hospitals & healthcare institutes and government authority. The various government initiatives for increasing the deployment of IoT technologies in healthcare to reduce costs associated to healthcare facilities and need for optimization of clinical workflow for cost reduction and better patient outcome by healthcare institutions is propelling the market growth.
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The geographic segments included in this report are North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The growing adoption of wearable wellness and fitness devices such as smart watches, fitness bands, rings etc. owing to the rising awareness for self-health among people is also propelling the IoT in healthcare market. These bands helps the wearer to keep track of their daily activities and transmits the health information recorded such as sleeping pattern, steps taken, heart rate, blood pressure etc. with the help of sensors embedded in them to the connected device. IoT in healthcare is making a strong impact on healthcare facilities across the globe with continuous advancement in technology, growing data analytics, and decreasing cost of connected medical devices.
Leading Players are:
The major industry players in the IoT in Healthcare market include GE Healthcare (US), IBM Corp. (US), Koninklijke Philips N.V. (Netherlands), Medtronic plc. (Ireland), Microsoft Corporation (US), Proteus Digital Health, Inc. (US), Qualcomm Life, Inc. (US), Siemens Healthcare GmbH (Germany), STANLEY Healthcare (US) and Verily Life Sciences LLC (US).
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