Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) — The “Internet of Things (IoT) in Healthcare” report has been added ResearchAndMarkets.com offer.
This market report is segmented by solution, application, connectivity, end user, and region. The report provides an overview of the global IoT in healthcare market and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period of 2021 to 2026.
The healthcare sector has rapidly adopted various IoT solutions, creating the Internet of Medical Things (IoMT). Devices such as cardiac monitors and pacemakers collect and send patient health statistics to healthcare providers over various networks for monitoring, analysis and remote configuration. Although many of these devices are used in industry, FDA approval has been a major barrier to widespread adoption. Another barrier is insurance, which plays a key role in the healthcare industry.
Some of the key factors driving investment in IoT include advanced and accurate results, growing cloud-based infrastructure, and the availability of more affordable smart devices. However, the growth of IoT market in healthcare is limited by factors such as lack of funding and business model, data security and privacy issues.
In this report, the market is segmented on the basis of component, application, connectivity, end user, and geography. Based on component, the IoT in healthcare market has been classified into medical devices, systems and software, services, and technology.
Service providers in the healthcare IoT market provide customized and integrated applications that help companies create consistent and improved business outcomes and manage the entire lifecycle of services. The integration of IoT medical devices involves several smart, connected devices that can be used to monitor a patient’s health and alert doctors before any infection occurs.
The focus of IoT healthcare systems and networks is to minimize project delivery times and costs through device management and deployment, data security, data collection and data analytics. Processes and software include remote device management, bandwidth usage management, data science, privacy programs, and information security strategies.
The global IoT in connectivity healthcare market is categorized into Wi-Fi, Bluetooth, Zigbee and other connectivity types. In 2020, the Wi-Fi connectivity segment dominated the market. The main connection types of the other connection type segment include Loran and LTE-M. LTE-M is a mobile operator’s wireless network certified by the GSMA industry group and the 3GPP standards group.
Without the use of satellite-based systems such as GPS or Galileo, cell tower offers tracking-based location services. This feature provides a significant cost reduction for OEMs who require devices to have a core deployment system. Also, LoRa is a widely used connectivity option for deploying IoT over large areas with many non-critical sensors and control devices.
Its use of license-free radio makes LoRa the best choice for urban-scale environmental protection sensors, street lamp regulation and control, simple agricultural field controls, and small object tracking. The fastest growing type of connectivity in the healthcare IoT market is Zigbee.
Revenue forecasts for this period are segmented based on solution, application, connectivity, end user and geography. Market values were calculated based on total revenue from IoT in healthcare solutions providers. This report covers the IoT in healthcare market with respect to applications in various end-use industries across various regions.
It also focuses on key trends and issues affecting the market and vendor landscape. This report estimates the global market for IoT in healthcare in 2020 and provides forecasts of the expected market size through 2026.
Included in the report
- 70 data tables and 25 additional tables
- Up-to-date analysis and analysis of the global market for Internet of Things (IoT) in healthcare specific applications
- Analysis of global market trends with historical market revenues (sales data) for 2020 and 2021, estimates for 2022 and 2024 and forecasts of compound annual growth rates (CAGRs) to 2026
- Highlights of IoT in Healthcare market potential and areas to forecast this market into various segments and sub-segments
- Assessment and forecasting of the global IoT in healthcare market size, projected growth trends and relevant market share analysis by component, solution, device type, connectivity, application, end-user vertical and geographic region
- Discussing updated information on the evolution and various applications of IoT solutions in different healthcare verticals, medical connected devices and latest market developments
- Assessing viable technology drivers through a comprehensive review of various healthcare specific applications for new and existing IoT technologies and cloud architecture
- Discussion of industry value chain analysis providing systematic study of key intermediaries along with PESTEL analysis for IoT in Healthcare
- Detailed information on increasing investment in R&D activities, key technological challenges, industry-specific challenges, key types of end-user markets, and the impact of COVID-19 on the growth of this market
- Analysis of patents issued for IoT in healthcare devices between 2018 and 2022 by each major category
- Descriptive company profiles of leading global players including Cisco Systems Inc., IBM Corp., GE Healthcare, Medtronic plc, Koninklijke Philips NV and Siemens Healthcare
| Report Attribute | Details |
| Number of pages | 222 |
| Forecast Period | 2021 – 2026 |
| Estimated market value in 2021 (USD). | 99.8 billion dollars |
| Projected market value by 2026 (USD). | $253.7 billion |
| Compound annual growth rate | 20.5% |
| Areas covered | Global |
IoT in Healthcare Market Overview
Market drivers
- Advanced, Accurate Results
- Iot for Elderly Care
- Improving Cloud Infrastructure in Healthcare
- Growing Demand for Smart Devices in Healthcare
Market restrictions
- Lack of Funding and Business Model
- Increased Device and Data Security Vulnerabilities
Market Opportunities
- Government Initiatives Promoting Digital Health
- The emergence of Tele-Health
IoT applications in healthcare
- ECG Monitoring
- Temperature monitoring
- Blood glucose (Bg) monitoring
- Asthma Monitoring
- Mood monitoring
- Oxygen Saturation Monitoring
- Rehabilitation systems
- Wheelchair management
- Medication Compliance
- Drug Administration
- Chronic Disease Management
- Smartphone Solutions
- Trends in the Healthcare IoT Market
- Electronic Health Record (His) Systems for Multispecialty Applications
- Patient Portal and Self-Service Software
- Blockchain Technologies
- Enterprise Software Design
- Advanced Analytics
- Emerging Technologies in Healthcare
- Cloud Computing
- Grid Computing
- Big data and connected networks
- Augmented Reality
Company Profiles
- Abbott Laboratories
- Adheretech
- Agamatrix Inc.
- Armis, Inc.
- Biotronik Se & Co. Kg
- Boston Scientific Corp.
- Capsule Technologies, Inc.
- Cisco Systems, Inc.
- Ge Healthcare
- Intel Corp.
- Rhythm Technologies
- International Business Machines Corp. (Ibm)
- Johnson & Johnson Services Inc.
- Koninklijke Philips NV
- Medtronic plc
- Microsoft Corp.
- Omron Healthcare Inc.
- Resideo Technologies, Inc.
- Sap Se
- Stanley Healthcare
For more information on this report, visit https://www.researchandmarkets.com/r/w4s40z
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Global IoT in Healthcare Market