The Internet of Things (IoT) in healthcare connects all devices and operating machinery and enables data transfer and storage via the internet. The rising demand for connected medical devices and automated remote patient care is expected to drive IOT in Healthcare Market expansion.
For several years, the healthcare sectors of several developed countries have shifted away from paper-based clinical records and toward electronic health record systems. The rapid advancement of technology encourages the government to invest in IoT to enable remote access to healthcare services. As a result, government initiatives to support technology development and adoption are expected to drive significant growth in the IoT in the healthcare market.
Market Overview:
The Global IOT in Healthcare Market was valued at USD 87.06 Billion in 2021, and it is expected to reach a value of USD 332.52 Billion by 2028, at a CAGR of 21.10% over the forecast period (2022-2028).
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Top Key players operated in Global IOT in Healthcare Market:
- Medtronic (US)
- GE Healthcare (US)
- Koninklijke Philips N.V. (Netherlands)
- Honeywell Life Care Solutions (US)
- BIOTRONIK (Germany)
- Boston Scientific Corporation (US)
- Johnson & Johnson Services Inc. (US)
- Siemens AG (Germany)
- Omron Healthcare Inc. (Japan)
- BioTelemetry Inc. (US)
- AliveCor Inc. (US)
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Key Offerings:
- Global IOT in Healthcare Market Size & Forecast by Revenue | 2022−2028
- Global IOT in Healthcare Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by Component, application end-user and geography
- Competitive Landscape – Top key vendors and other prominent vendors
Global IOT in Healthcare Key Market Trends
- 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.
- Companies such as Dexcom and Eversense are the first to receive FDA approval for glucose monitor devices, which help monitor blood sugar levels for 90 days.These IoT-powered wearable devices are also assisting in the monitoring and alerting of remote patients suffering from chronic illnesses. This wearable device aids in the diagnosis of sudden cardiac arrest. As a result of the effectiveness of IoT devices, people are adopting these devices for health monitoring, which is expected to drive IOT in Healthcare Market growth.
The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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