Internet of Things Market in Healthcare Introduction
Internet of things (IoT) has become a synonym for disruption in healthcare industry, transforming healthcare sector dramatically by integrating connectivity features in medical devices and healthcare delivery process. Healthcare sector remains one of the major end users to adopt connected solutions and more resistance to technology disruptions. Growing uptake of connected mobile apps, activity tracker during treatment, connected inhalers and sensors is an emerging trend witnessed in the healthcare industry.
Drivers & Restraints
Emerging IoT platforms and solutions allow healthcare organizations to integrate smart features in medical devices and other crucial systems and software. This, in turn, is increasing the uptake of advanced IoT solutions and services in healthcare sector. Also, rising demand for remote patient monitoring, predictive maintenance and asset management solutions and systems to reduce overall operational and maintenance cost is expected to fuel growth of the internet of things market in healthcare sector. Further, growing focus of healthcare institutes and hospitals to enhance overall patient experience, real time data management, and treatment outcomes is boosting growth of the IoT market in healthcare industry. In contrast, threats associated with patient data security and privacy breach is anticipated to impede adoption of IoT solutions and systems in healthcare organizations.
The scope of IoT market in healthcare takes in different levels of segmentations including offering, hardware, solution, service and end user. The global IoT market in healthcare can be segmented based on offering into hardware, solution and service. By solution the market has been segmented into remote patient monitoring, remote device diagnostic, clinical trial monitoring, telemedicine, mhealth and electronic health record solution. Hardware segmented into connected medical devices and wearable fitness devices. The IoT market in healthcare can also be segmented based on services into app development service, consulting, implementation & integration, repair and maintenance and other services. Based on end user the global IoT market in healthcare can be bifurcated into hospital, nursing home, physician, clinical research organization and other end users.
The global Internet of things market in healthcare covers major geographies such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and Middle East and Africa. Healthcare services and medical care represent most attractive application area for IoT technology in North America, thus, making it largest regional market among regions, followed by Europe. Also, major hospitals and healthcare organizations are focusing on overcoming regulatory issues associated with enhancing healthcare services and patient monitoring. This is expected to boost growth of IoT market in healthcare sector in these regions. Further, adoption of connected healthcare solutions and systems in emerging regions such as Asia Pacific and Middle East is projected to increasing in near future, propelling market growth.
Internet of Things Market in Healthcare Competitive Landscape
Prominent players operating in the healthcare IoT market are GE Healthcare, Medtronic PLC, IBM Corporation, Cisco System Inc., Microsoft Corporation, Qualco Life Inc., SAP SE, Honeywell International Inc., Apple Inc. and Atanley Healthcare Solutions.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on IoT market in healthcare would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.