The emergence of high-speed networking technology and the growing penetration of mobile devices will propel the growth of the IoT medical devices market.
Vancouver, BC -- (SBWIRE) -- 12/21/2020 -- IoT Medical Devices Market
IoT medical devices confer several advantages such as uninterrupted EHR transfer, minimal medical errors, enhanced patient safety, augmented patient engagement, and enables patient-centric care. The evolution of advanced network technologies and other facilities in the healthcare sector is boosting the adoption of IoT medical devices. The global IoT Medical Devices Market is projected to reach USD 161.73 Billion by the end of 2027, growing at a CAGR of 25.6% throughout the forecast period, according to the latest report by Emergen Research.
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Key participants include- GE Healthcare, Medtronic, Abbott Laboratories, Siemens, Johnson & Johnson, Boston Scientific, Philips Healthcare, Honeywell Life Care Solutions, Omron, and Biotronik, among others.
Market Drivers
Rising investment by the hospitals and other care settings to incorporate advanced technology in both the developing and developed economies is forecasted to fuel the demand for IoT medical devices, thereby driving the industry's growth. Growing awareness about the benefits of IoT and connected devices is further expected to bolster the market growth. The emergence of advanced sensors, embedded software, and mobile applications, and the increased access to these devices through online platforms is further expected to propel the industry's expansion. Furthermore, to manage the growing patient data to improve patient outcomes and enhance interoperability are estimated to bolster the market growth significantly.
Product Outlook (Revenue, USD Billion; 2017-2027)
Vital Signs Monitoring Devices
Blood Pressure Monitors
Blood Glucose Monitors
ECG/Heart Rate Monitors
Oximeters
Multiparameter Monitors
Respiratory Devices
Fetal Monitoring Devices
Neurological Devices
Implantable Cardiac Devices
Implantable Cardioverter Defibrillators
Implantable Cardiac Monitors
Pacemakers
Hearing Devices
Anesthesia Machines
Patient Monitors
Ventilators
Imaging Systems
Infusion Pumps
Other Products
Type Outlook (Revenue, USD Billion; 2017-2027)
Wearable Medical Devices
Implantable Medical Devices
Stationary Medical Devices
Other IoT Medical Devices
Connectivity Technology Outlook (Revenue, USD Billion; 2017-2027)
Bluetooth
Wi-Fi
ZigBee
Near Field Communication (NFC)
Other Connectivity Technologies
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Nursing Homes, Assisted Living Facilities, Long-term Care Centers, & Home Care Settings
Other End Users
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Elucidating the competitive landscape of the Global IoT Medical Devices Market:
The global IoT Medical Devices market report offers viable insights into the competitive spectrum of the IoT Medical Devices business sphere.
The report systematically profiles the company information of each market player.
It identifies the estimated industry share, production facilities, development prospects, and geographies served by each market player.
The study showcases the extensive product portfolios of the prominent market contenders.
It offers critical data & information about the product application scope and the end-user landscape.
The study provides salient information about the pricing models of the products offered by these companies. Moreover, it determines the gross profits and losses experienced by them throughout their market tenures.
Regional Analysis
North America is forecasted to be the critical revenue-generating region during the estimated timeframe attributable to the advancement in technology and its implementation in medical devices leading to improved patient care and fueling the market demand. Asia Pacific is foreseen to register the highest CAGR in the estimated timeline. This can be accredited to the escalating adoption of cutting edge medical devices in hospitals and clinics in developing economies across the region.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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