IoT in Healthcare Market Supply Chain Anaysis, Top Companies, Revenue Growth and Business Developmen
Author : jay sharma | Published On : 17 Sep 2021
The Global IoT in Healthcare Market size is forecast to grow from USD 60.83 Billion in 2019 to USD 260.75 Billion by 2027, delivering at a CAGR of 19.8% through 2027. The market growth is driven by increasing focus on active patient engagement and patient-centric care, growth of high-speed network technologies for IoT connectivity, and the surging need for the adoption of cost-control measures in the healthcare sector.
The increasing prevalence of AI (Artificial Intelligence) in the medical industry has revolutionized patient care. In 2018, the global spending on IoT initiatives was nearly USD 646 billion. Medical practitioners are increasingly banking on real-time data for rendering immediate services, for the treatment of various diseases, and even for tracking resources like staff, assets, patients, and others. This has led to increased penetration of real-time monitoring systems and connected devices into the healthcare sector. The connected devices are being leveraged for gathering extensive data recording and analysis.
The proliferation of IoT in hospitals has improved functional efficiency, enabling better patient care, improved disease management, and treatment outcomes. High investments by hospitals for the adoption of advanced technology for the best medical care in both developed and developing economies will boost IoT in healthcare market growth. Moreover, the introduction of new healthcare products integrated with IoT will foster IoT in healthcare market revenue share over the forecast period. For instance, Ericsson and Brighter introduced Actiste, in October 2019, which is the first complete IoT-health solution for treating and monitoring insulin-dependent diabetes.
Top Companies Profiled in the Report Include:
CISCO Systems, Qualcomm Life, Honeywell International, Backbone Labs, IBM Corporation, Microsoft Corporation, GE Healthcare, Proteus Digital Health, Stanley Healthcare, and SAP SE
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The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the IoT in Healthcare market in these key regions.
Country-wise regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Additionally, the report consists a detailed analysis of the segmentation of the IoT in Healthcare market based on product types and end-use/application offered in the IoT in Healthcare market.
Component Outlook (Revenue, USD Billion; 2017-2027)
- Medical Devices
- Portable diagnostic devices
- Non-portable diagnostic devices
- System and Software
- Remote Device Management
- Data Analytics
- Network Bandwidth Management
- Network Security
- Application Security
- Consulting, Training, and Education
- Support and Maintenance services
- System Integration Services
Connectivity Technology Outlook (Revenue, USD Billion; 2017-2027)
- Near Field Communications
Application Outlook (Revenue, USD Billion; 2017-2027)
- Medication Management
- Connected Imaging
- Inpatient Monitoring
- Clinical Operations Management
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Clinical Research Organizations
- Government Institutions
- Research and Diagnostic Laboratories
- Defense Institutions
- Hospitals and Clinics
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