Global IoT in Healthcare Market, By Component (Medical Device, Systems and Software, Services, and Connectivity Technology), Sensor Type (Pressure Sensor, Image Sensor, Temperature Sensor, Position Sensor, Chemical Sensor, Bio Sensor, Flow Sensor, Level Sensor, Radar Sensor, Motion Sensor, Others), Application (Telemedicine, Connected Imaging, and Inpatient Monitoring), End User (Automotive, Aerospace and Defense, Industrial, Electronics, Healthcare, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global IoT Healthcare Market
The IoT healthcare market is expected to witness market growth at a rate of 31.2% in the forecast period of 2021 to 2028. Data Bridge Market Research report on IoT healthcare market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
The IoT in Healthcare improves in delivery of healthcare services through improvised communication, between the patients and the healthcare workers, via connected medical devices. IoT in Healthcare facilitate the stakeholders specifically, workers and patients, to enhance patient care, lessen the costs regarding to healthcare, decrease in the errors, enhanced patient knowledge, and advanced patient outcomes coupled with better disease management.
The swift technological developments, the growing funds from the top manufacturers its broad products in the disease observing. Also, growing of the incidences of chronic diseases for example diabetes, asthma, COPD and others and rise in the collaborative partnership amongst top manufacturers are the factor that chiefly boost the growth of the IoT in healthcare market in the forecast period. Furthermore, factors such as the growing concentration on active patient engagement and patient-centric care, the increasing requirement for the acceptance of expense control measures in healthcare, the development and amplified acceptance of high-speed network technologies for IoT connectivity, progress of completing technologies, for example artificial intelligence and big data, requirement for healthcare in remote locations and the growing need for wearable devices amid the covid-19 pandemic outbreak are anticipated to further propel the growth of the IoT in healthcare market.
However, antiquated infrastructure that is delaying the digital growth of the medical industry, the internet disturbances heading to sturdy IoT device performance are most likely to hamper the growth of the IoT in healthcare market. Moreover, the high expenditures for IoT system assimilation, data privacy and safety concerns, absence of knowledge amongst people, and the dearth of trained workers in advancing nations are the major factors expected to most likely hinder the growth of the IoT in healthcare market in the forecast period. Additionally, the low doctor-to-patient proportion managing to enhanced reliance on self-operated eHealth platforms, government programs for promoting digital health and the IoT for covid-19 patient observing further extend advantageous profitable opportunities for the growth of the IoT in healthcare market in the near future. Despite that, the rise in the attack surfaces with an upsurge in the IoT devices because of the data security limitations, assimilation of multiple devices and protocols leading to data overwork and precision and the expenditure of the technology further challenge the growth of the IoT in healthcare market in the coming years.
This IoT healthcare market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on IoT healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
IoT Healthcare Market Scope and Market Size
The IoT healthcare market is segmented on the basis of components, sensor type, end user and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the component, the IoT healthcare market is segmented into medical device, systems and software, services, and connectivity technology.
- Based on the sensor type, the IoT healthcare market is segmented into pressure sensor, image sensor, temperature sensor, position sensor, chemical sensor, bio sensor, flow sensor, level sensor, radar sensor, motion sensor, others. Pressure sensor is further segmented into piezoresistive, capacitive, resonant solid state, electromagnetic, optics, others. Image sensor is further segmented into CMOS, CCD, others. Temperature sensor is further segmented into thermocouple, resistive temperature detector, temperature sensor IC, thermistor, others. Position sensor is further segmented into contact, non-contact. Chemical sensor is further segmented into electrochemical, optical, others. Bio sensor is further segmented into electrochemical, optical, piezoelectric, thermal, others. Flow sensor electromagnetic, thermal, others. Level sensor is further segmented into contact, non-contact. Radar sensor is further segmented into imaging, non-imaging.
- Based on the application, the IoT healthcare market is segmented into telemedicine, connected imaging, and inpatient monitoring.
- Based on the end user, the IoT healthcare market is segmented into automotive, aerospace and defense, industrial, electronics, healthcare, others.
IoT Healthcare Market Country Level Analysis
The IoT healthcare market is analysed and market size, volume information is provided by country, components, sensor type, end user and application as referenced above.
The countries covered in the IoT healthcare market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the IoT healthcare market because of the presence of large number of advanced infrastructures. Furthermore, developments in technology and devices coupled with rising spending on the infrastructure which in turn will further boost the growth of the IoT healthcare market in the region. Asia Pacific is expected to observe significant amount of growth in the IoT healthcare market because in the increasing number of medical resources throughout the advanced countries. Furthermore, to improvise the structure and address concerns for example corruption, various advancing countries are preparing to create modern models such as e-catalogues and price precision processes which will participate in the requirement for developed solutions in turn is anticipated to further propel the growth of the IoT healthcare market in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and IoT Healthcare Market Share Analysis
The IoT healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to IoT healthcare market.
The major players covered in the IoT healthcare market report are Medtronic, Cisco Inc, GENERAL ELECTRIC, STANLEY Healthcare, Capsule Technologies, Inc, IBM Corporation, Koninklijke Philips N.V., Microsoft, SAP affiliate company, AdhereTech, Cerner Corporation, PhysIQ, Meru Health, LifeFuels Inc, Keriton, CARRÉ TECHNOLOGIES INC., ConnectedHealth, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.