IoT Healthcare Market categorizes the global market by components as medical device, system and software, service, connectivity technology, by application as telemedicine, workflow management, connected imaging, medication management, by end user & by region."
Seattle, WA -- (SBWIRE) -- 07/21/2017 -- The report "IoT Healthcare Market by Components (Medical Device, System and Software, Service, and Connectivity Technology), Application (Telemedicine, Workflow Management, Connected Imaging, Medication Management), End-User - Global Forecast to 2020", the global IoT in healthcare market is expected to grow from USD 32.47 Billion in 2015 to USD 163.24 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 38.1% during the forecast period. In the current scenario, North America is expected to be the largest market on the basis of market size and technological advancements.
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The IoT in healthcare terminology is used to define the implementation of the IoT-based technology solutions and associated services into the various applications healthcare sector. The solutions are primarily aimed at achieving the integration of connected medical devices and intelligent data analysis to enhance the operational efficiency of healthcare organizations. It also improvises the healthcare outcomes with reduced cost of care, using efficient tools and techniques. It imparts benefits to the various end-to-end needs, such as real-time patient engagement, remote monitoring, chronic disease management, inpatient monitoring, medication management, efficient clinical operations, and workflow management.
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The global IoT in healthcare market has been segmented on the basis of types of medical devices, systems and software, connectivity technologies, services, applications, end users, and regions. The report includes various types of medical devices, namely, wearable external medical devices, implanted medical devices, and stationary medical devices. Systems and software include remote device management, network bandwidth management, data analytics, application security, and network security. Connectivity technologies have been segmented into Wi-Fi, BLE, NFC, ZigBee, cellular, and satellite technologies. The services have been segmented into system integration, professional services, and support and maintenance. In addition, the report classifies the market into the regions such as North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America.