Report Id: HIIOTHM117
Internet of Things (IoT) Healthcare Market Analysis by Size, Share, Growth, Market Trends and Forecast, 2023-2028
The IoT healthcare market is projected to grow from US$ 41.22 Billion in 2019 to US$ 755 Billion by 2028, at a CAGR of 30% from 2023 to 2028.
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Major Players
- Medtronic Inc
- Philips
- Cisco Systems
- IBM Corporation
- GE Healthcare
Study period:
Fastest Growing Market:
2023-2028
APAC
Base Year:
Largest Market:
2022
North America
CAGR:
30
REPORT DESCRIPTION
Internet Of things (IOT) is a network which connects objects via embedded electronics, sensors, and network connectivity. IoT gather devices and share the information, making it possible to collect and analyses data faster and accurately. IoT being used in healthcare sector acts as a catalyst for improving real-time communication between patients and the care provider’s. IoT applications are mostly used to improve access to care, quality of care, and reduce the cost of the total care. As the investment will increase in the healthcare systems, it will be used in telehealth systems delivering better care for remote locations and monitoring systems for better decisions.
The IoT healthcare market is projected to grow from US$ 41.22 Billion in 2019 to US$ 755 Billion by 2028, at a CAGR of 30% from 2023 to 2028. , mainly driven by growing investments in healthcare market by governments and various other stakeholders. The IoT healthcare market is analysed by six regions - North America, Western Europe, Asia-Pacific, Central Eastern Europe (CEE), Middle East & Africa and Latin America. Further the region markets are also analysed by countries to understand the healthcare spending, government initiatives and underlying opportunities for IoT healthcare market. North America is the most matured markets owing to its extensive health infrastructure and the ever increasing pressure to control the healthcare costs.
Healthcare providers, payers, bio pharma and medical devices companies are investing heavily in adopting new technologies, enter new markets with acquisitions and forge multiple collaborations to scale and be ahead of the competitors. Healthcare market is favoured by government mandates which reduce healthcare burden on individual. One of the major trend in the market is hit by high consumerization. Consumers want to take control of their health and which has boosted the market for fitness bands such as Nike Fuel band, Google Glass, and Fitbit. The devices provide data at regular or scheduled intervals of time which are often supported by analytics for consumer to take control of their health and be aware of any variations from the normal health condition.
Healthcare organizations adopting IoT solutions to reduce cost of healthcare and also improve quality of healthcare delivery. Major capabilities of customer intelligence solution are predictive analytics, decision management, real-time scoring, customer engagement, cross-campaign optimization, customer lifetime value segmentation. Some of the major market players include GE Healthcare, Medtronic, Koninklijke Philips NV, Stanley Healthcare, and AirStrip Technologies.
This study covers and analyses” IoT healthcare market “globally. Bringing out the complete key insights of this industry, this report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
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1 INTRODUCTION
1.1 Key Take Aways
1.2 Report Description
1.3 Markets Covered
1.4 Stakeholders
1.5 Research Methodology
1.5.1 Market Size
1.5.2 Market Share
1.5.3 Key Data Points From Secondary Sources
1.5.4 Key Data Points From Primary Sources
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 IoT Healthcare Market: Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the IoT Healthcare Market
4.2 Market: Market Share Across Various Regions
4.3 Market, By Component and End User Market
4.4 Life Cycle Analysis, By Region
5 IoT Healthcare Market Overview
5.1 Introduction
5.2 Market Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Reduced Cost of Care
5.3.1.2 the Need for Improved Healthcare Outcomes
5.3.1.3 Evolution of High-Speed Networking Technologies
5.3.2 Restraints
5.3.2.1 Insufficient IoT Technology Skills
5.3.2.2 Lack of Governance Standards
5.3.3 Opportunities
5.3.3.1 Increasing Penetration of Connected Devices in Healthcare
5.3.3.2 Rising Adoption of Remote Patient Monitoring
5.3.4 Challenges
5.3.4.1 Data Security and Privacy
5.3.4.2 Lack of Data Management and Interoperability
5.4 Regulatory Implications
5.4.1 ISO Standards - ISO 27799:2008 & ISO/Tr 27809:2007
5.4.2 Health Insurance Portability and Accountability Act (HIPAA)
5.4.2.1 HIPAA Privacy Rule
5.4.2.2 HIPAA Security Rule
5.4.3 Health Information Technology for Economic and Clinical Health Act (Hitech)
5.4.4 CEN ISO / IEEE 11073
5.4.5 CEN / Cenelec
5.4.6 ETSI
5.5 Innovation Spotlight
6 IoT Healthcare Market: Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Pest Analysis
6.3.1 Political Factors
6.3.2 Economic Factors
6.3.3 Social Factors
6.3.4 Technological Factors
6.4 Strategic Benchmarking
7 IoT Healthcare Market Analysis, By Component
7.1 Introduction
7.2 Medical Devices
7.2.1 Wearable External Medical Devices
7.2.2 Implanted Medical Devices
7.2.3 Stationary Medical Devices
7.3 System and Software
7.3.1 Remote Device Management
7.3.2 Network Bandwidth Management
7.3.3 Data Analytics
7.3.4 Application Security
7.3.5 Network Security
7.4 Market Size Estimation, By Service
7.4.1 System Integration Services
7.4.2 Consulting, Training, and Education
7.4.3 Support and Maintenance Services
8 IoT Healthcare Market Analysis, By Connectivity Technology
8.1 Introduction
8.2 Wi-Fi
8.3 Bluetooth Low Energy (BLE)
8.4 Zigbee
8.5 Near Field Communication (NFC)
8.6 Cellular
8.7 Satellite
9 IoT Healthcare Market Analysis, By Application
9.1 Introduction
9.2 Telemedicine
9.2.1 Store-And-Forward Telemedicine
9.2.2 Remote Patient Monitoring
9.2.3 Interactive Telemedicine
9.3 Clinical Operations and Workflow Management
9.4 Connected Imaging
9.5 Inpatient Monitoring
9.6 Medication Management
9.7 Others
10 IoT Healthcare Market Analysis, By End User
10.1 Introduction
10.2 Hospitals, Surgical Centers, and Clinics
10.3 Clinical Research Organization (CROS)
10.4 Government and Defense Institutions
10.5 Research and Diagnostic Laboratories
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific (APAC)
11.5 Latin America
11.6 Middle East and Africa (MEA)
12 Competitive Landscape
12.1 Overview
12.2 Competitive Situation and Trends
12.2.1 New Product Launches
12.2.2 Partnerships, Agreements and Collaborations
12.2.3 Mergers and Acquisitions
12.2.4 VC Funding
13 Company Profiles
13.1 Introduction
13.2 Medtronic, Inc.
13.3 Philips
13.4 Cisco Systems
13.5 IBM Corporation
13.6 GE Healthcare
13.7 Microsoft Corporation
13.8 SAP SE
13.9 Qualcomm Life, Inc.
13.10 Honeywell Life Care Solutions
13.11 Stanley Healthcare
Got a question? We've got answers. If you have some other questions, see our support center.
What is the predicted growth rate of IoT healthcare market?
The market is expected to grow at a CAGR of 30% during the study period (2022-2027)
How big is the IoT healthcare market value?
The IoT healthcare market is projected to grow from USD 41.22 Billion in 2019 to USD 581 Billion by 2027
What is the segment’s covered for the IoT healthcare market?
The segment included in the IoT healthcare market is Component, Connectivity Technology, Application, End User and region.
Who are the major key vendors in the IoT healthcare market?
Some key players operating in the IoT healthcare market include Medtronic, Inc, Philips, Cisco Systems, IBM Corporation, GE Healthcare, Microsoft Corporation
What are the different forms of the report available?
We can offer several formats of the market research reports including,
• PDF
• PPT
• Spreadsheet/ Workbook
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