This Research Provides an in-depth analysis of Global IoT Healthcare Market By 2021. The Research profiles companies like Medtronic, Philips, Cisco Systems, IBM Corporation, Microsoft Corporation, SAP SE, Honeywell Life Care Solutions, Stanley Healthcare, Qualcomm Life, Inc., HealthSaaS
Houston, TX -- (SBWIRE) -- 07/03/2018 -- The Internet of Things (IoT) medical market is expected to grow at a CAGR of +13% over the forecast period. The Internet of Things (IoT), consisting of intermediate components such as devices, network connections, electronic systems and software, is basically a networking device that transmits data signals through smart electronic devices or networking between things when there is no human intervention. In the medical field, this technology can be used to manage and fine-tune resources, as well as available patient data.
The Internet of Things (IoT) technology has the potential to revolutionize traditional paper-based healthcare therapies by simplifying access to real-time patient data and remote patient monitoring. With the advent of digital medical technology, the imminent need for better diagnostics and targeted treatment tools has been addressed. In addition to providing remote patient monitoring to physicians, it also provides fitness and wellness trackers for athletes and dose notifications for patients. With the successful implementation of IoT in remote monitoring of diabetic and asthmatic patients and the increased penetration of fitness and wellness devices, the demand for the IoT medical market is increasing.
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The Internet of Things (IoT) healthcare market is expected to grow considerably over the forecast period due to technological advances, increased incidence of chronic diseases, increased demand for cost-effective treatment and disease management, and improved high-speed accessibility. Internet, Enforcement of regulatory policies, and cooperation between top IT companies and medical specialists. In addition, the availability of customer-friendly devices, the need for tight regulation, and the price drop in sensor technology are some of the factors that are expected to drive growth in the IoT medical market scale. However, there is a potential for market growth to be hampered by IoT infrastructure development, data privacy and security concerns, lack of public awareness of developing countries, and high costs associated with limited technical knowledge. A variety of factors, including improving healthcare infrastructure in developing countries, government initiatives to support the IoT platform, and high R & D spending, are expected to drive market growth.
The report categorizes Iot medical market share based on components, applications, end users, and regions. Based on the components, the market is classified as devices, systems and software and services. Device segments are further subdivided into implantable sensor devices, wearable sensor devices, and several other sensor devices. Systems and software segments are divided into the network layer, the database layer, and the analysis layer. Service segments include architecture, consulting, and application development services. According to this application, the market is divided into patient monitoring, clinical operation and workflow optimization, linked images, fitness and wellness measurement, and drug development. Based on end users, the market is divided into medical service providers, patients, medical premium payers, laboratories and government agencies of pharmaceutical and biotechnology companies. North America, Europe, Asia Pacific, and LAMEA include geographic and in-depth analysis of each segment mentioned above.
Top Key Player Covered
Medtronic, Philips, Cisco Systems, IBM Corporation, Microsoft Corporation, SAP SE, Honeywell Life Care Solutions, Stanley Healthcare, Qualcomm Life, Inc., HealthSaaS, Inc
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The global market for healthcare is geographically divided into North America, Europe, Asia Pacific and other regions. North America continues to be the most profitable region and analysts predict that the region will remain at the forefront of global IoT in the healthcare market throughout the forecast period. The rapid growth of North American IoT in the medical market is attributable to the existence of advanced sophisticated medical infrastructure, major technological advances in medical software and medical devices, increased IoT research and development initiatives and higher levels of disposable products.
The IoT market in healthcare has been identified as the most profitable region, and the region is expected to grow strongly over the next few years. Rapid economic growth is one of the main reasons IoT will be expanded in the Asia-Pacific region, particularly in the medical sector in countries like China and India. Other factors affecting the local market include improved healthcare infrastructure, higher disposable income levels, increased presence of IT-enabled health services, the possibility of pricing smartphones and various wearable medical devices, and changes in lifestyle habits
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