According to the global internet of things (IOT) in healthcare market report by IMARC Group, the market reached a value of US$ 277.8 Billion in 2021, and it is projected to reach a value of US$ 687.5 Billion by 2028, exhibiting a CAGR of 16.4% during 2022-2027.

The global Internet of things (IOT) in healthcare market size reached US$ 277.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 687.5 Billion by 2028, exhibiting a growth rate (CAGR) of 16.4% during 2023-2028.

what is internet of things (iot) in healthcare?

Internet of things (IoT) represents an interconnected arrangement of devices linked to the internet and can gather and transmit data over a wireless network without any human intervention. It relies on artificial intelligence (AI) or machine learning (ML) technologies to evaluate information and offer organizations access to advanced analytics by gathering data on customer behaviour.

IoT assists in making enhanced decisions, increasing security by monitoring digital and physical infrastructure for optimizing performance, improving efficiency, and reducing safety risks. As a result, this system finds widespread applications in the healthcare sector for research analysis, data collection, and monitoring of electronic health records across the global.

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Market Trends

The escalating prevalence of chronic obstructive pulmonary disease (COPD), genetic and respiratory illnesses, arthritis, and cancer is among the primary factors driving the internet of things (IoT) in healthcare market. Besides this, the elevating demand for cost-effective treatment and enhanced disorder management across the globe is further augmenting the market growth. In addition, the rising utilization of smart devices and wearables in self-health measurement among individuals is also catalyzing the global market.  Moreover, the inflating number of investments by the leading manufacturers in research and development (R&D) activities to integrate artificial intelligence (AI) with IoT for an improved patient experience are acting as significant growth-inducing factors.

Apart from this, the increasing awareness among the medical personnel toward the benefits of using these devices in the healthcare industry is also stimulating the market growth. Furthermore, the launch of several policies by the government bodies to promote the usage of electronic health records (EHR) is expected to bolster the internet of things (IoT) in healthcare market in the coming years. 

who are the key players/companies in the global internet of things (iot) in healthcare market?

Apple Inc., Cisco Systems Inc., Comarch SA, HQ Software, Intel Corporation, Koninklijke Philips N.V., Medtronic plc, Microsoft Corporation, Oracle Corporation, OSP Labs, Oxagile, Qualcomm Incorporated, Siemens AG and STANLEY Healthcare.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Medical Devices
  • Wearable External Devices
  • Implanted Medical Devices
  • Stationary Medical Devices

               System and Software

• Remote Device Management
• Network Bandwidth Management
• Data Analytics
• Application Security
• Network Security

Services

• System Integration Services
• Consulting, Training and Education
• Support and Maintenance Services

Breakup by Connectivity Technology:

• Wi-Fi
• Bluetooth Low Energy
• ZigBee
• Near Field Communication (NFC)
• Cellular
• Satellite

Breakup by Application:

• Telemedicine
• Medication Management
• Clinical Operations
• Inpatient Monitoring
• Connected Imaging
• Others

Breakup by End User:

• Hospitals and Clinics
• Clinical Research Organizations
• Research and Diagnostic Laboratories
• Others

Regional Insights:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

Key Questions Answered in the Global Internet of Things (IOT) in Healthcare Market Report
• How has the global Internet of Things (IOT) in Healthcare industry performed in the past and how will it perform in the near future?
• What is the impact of COVID-19 on the global Internet of Things (IOT) in Healthcare market?
• What are the key regions in the global Internet of Things (IOT) in Healthcare industry?
• What are the major driving factors and challenges in the global Internet of Things (IOT) in Healthcare market?
• What is the structure of the global Internet of Things (IOT) in Healthcare industry and who are the leading players?
• What is the degree of competition in the market?

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