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Global Internet of Things in Healthcare Market Report and Forecast 2023-2031
Market Report I 2023-05-06 I 140 Pages I EMR Inc.
Global Internet of Things in Healthcare Market Report and Forecast 2023-2031
Global Internet of Things in Healthcare Market Outlook:
The global internet of things in healthcare market value was USD 186.6 billion in 2022, driven by the increasing need for efficient and cost-effective healthcare solutions across the globe. The market size is anticipated to grow at a CAGR of 19.1% during the forecast period of 2023-2031 to achieve a value of USD 892.8 billion by 2031.
Introduction
The Internet of Things (IoT) has revolutionized various industries, and healthcare is no exception. IoT in healthcare refers to the integration of internet-connected devices and sensors with healthcare systems, allowing for seamless data exchange, remote monitoring, and improved patient care. This technology has the potential to transform healthcare delivery, enhance patient outcomes, and optimize resource utilization.
In the healthcare sector, IoT devices are used in a wide range of applications, including remote patient monitoring, medication management, wearable devices, smart hospital infrastructure, and asset tracking. These devices collect real-time data such as vital signs, medication adherence, patient activity, and environmental conditions, enabling healthcare providers to monitor patients remotely, detect early signs of deterioration, and intervene proactively.
Key benefits of IoT in healthcare include improved patient outcomes, enhanced patient engagement, increased operational efficiency, and cost savings. IoT devices enable healthcare providers to deliver personalized care, promote preventive measures, and support patients in managing their own health. The continuous monitoring and data analytics capabilities of IoT systems enable early detection of health issues, reducing hospital readmissions and emergency room visits.
Key Trends in the Internet of Things in Healthcare Market
Some key trends involved in the Internet of Things in healthcare market are as follows:
- Remote Patient Monitoring: With the increasing adoption of IoT in healthcare, there is a growing trend towards remote patient monitoring. IoT devices, such as wearable sensors and smart medical devices, enable real-time monitoring of patient vital signs, medication adherence, and other health parameters. This trend allows healthcare providers to remotely monitor patients, collect data, and intervene when necessary, leading to improved patient outcomes and reduced healthcare costs.
- Data Analytics and Artificial Intelligence: IoT-generated data in healthcare is vast and complex. To derive meaningful insights from this data, there is a rising trend of utilizing advanced data analytics and artificial intelligence (AI) techniques. AI algorithms can analyze large volumes of data to identify patterns, predict outcomes, and support clinical decision-making. This trend is expected to enhance disease management, personalized medicine, and population health management.
Internet of Things in Healthcare Market Segmentations
Market 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
Market by Connectivity Technology
- Wi-Fi
- Bluetooth
- ZIGBEE
- Near-Field Communication
- Cellular
- RFID
- Satellite
Market Breakup by Application
- Telemedicine
- Patient Monitoring
- Connected Imaging
- Clinical Operations
- Medication Management
- Others
Market Breakup by End User
- Hospitals & Clinics
- Clinical Research Organizations
- Research and Diagnostic Laboratories
- Others
Market Breakup by Region
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Internet of Things in Healthcare Market Scenario
The market for IoT in healthcare is experiencing significant growth and is poised for further expansion in the coming years. The integration of IoT devices and systems in healthcare settings has the potential to revolutionize the industry by enabling advanced data collection, analysis, and remote monitoring capabilities.
One of the key drivers of the IoT in healthcare market is the increasing need for efficient and cost-effective healthcare solutions. The rising prevalence of chronic diseases, aging population, and the demand for personalized care have created a need for innovative technologies that can improve patient outcomes and streamline healthcare processes. IoT devices provide real-time monitoring and data collection, enabling healthcare providers to make informed decisions, deliver timely interventions, and improve overall patient care.
In conclusion, the market for IoT in healthcare is witnessing significant growth due to the increasing demand for efficient healthcare solutions, advancements in connectivity technologies, and the shift towards preventive care. The integration of IoT devices and systems has the potential to transform healthcare delivery, improve patient outcomes, and enhance the overall efficiency of the healthcare industry.
Internet of Things in Healthcare Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Medtronic
- Cisco Inc
- GENERAL ELECTRIC
- STANLEY Healthcare
- Capsule Technologies, Inc
- IBM Corporation
- Koninklijke Philips N.V.
- SAP affiliate company
- AdhereTech
- Cerner Corporation
- Meru Health
- LifeFuels Inc
- CARRE TECHNOLOGIES INC.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Internet of Things in Healthcare Market Analysis
8.1 Key Industry Highlights
8.2 Global Internet of Things in Healthcare Historical Market (2018-2022)
8.3 Global Internet of Things in Healthcare Market Forecast (2023-2028)
8.4 Global Internet of Things in Healthcare Market by Component
8.4.1 Devices
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 Breakup by Type
8.4.1.3.1 Wearable Sensor Devices
8.4.1.3.2 Implanted Sensor Devices
8.4.1.3.3 Other Sensor Devices
8.4.2 System and Software
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.2.3 Breakup by Type
8.4.2.3.1 Network Layer
8.4.2.3.2 Database Layer
8.4.2.3.3 Analytics Layer
8.4.3 Services
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Internet of Things in Healthcare Market by Application
8.5.1 Patient Monitoring
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Clinical Operation and Workflow Optimisation
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Connected Imaging
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Fitness and Wellness Measurement
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Drug Development
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.6 Global Internet of Things in Healthcare Market by End User
8.6.1 Healthcare Providers
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Patients
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Healthcare Payers
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Research Laboratories
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Government Authority
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
8.7 Global Internet of Things in Healthcare Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Internet of Things in Healthcare Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Internet of Things in Healthcare Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Internet of Things in Healthcare Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Internet of Things in Healthcare Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Internet of Things in Healthcare Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Apple Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Alphabet Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Cisco Systems, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 International Business Machine Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Microsoft Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
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