IoT Healthcare Market by Component (Medical Device, Systems & Software, Service, Connectivity Technology), Application (Telemedicine, Work Flow Management, Connected Imaging, Medication Management), End User, and Region - Global Forecast to 2022

Published: April 2017
No. of Pages: 155
    ReportsandReports

“The IoT healthcare market is projected to grow at a CAGR of 30.8%from 2017 to 2022”

The IoT healthcare market is projected to grow from USD 41.22 billion in 2017 to USD 158.07 billion by 2022, at a CAGR of 30.8%  from 2017 to 2022. The healthcare sector relies heavily on IoT technology wherein device management and integration, information security, data collection, and data analytics can prove beneficial for healthcare organizations. Hospitals and clinical research organizations are focusing on the efficient management of medical equipment, patients, and employees. Hence, there is a huge demand for the integration of IoT healthcare solutions with other mainstream technologies, which is fueling the growth of the IoT healthcare market. However, lack of competence in deploying IoT healthcare solutions is restraining the growth of the IoT healthcare market.

“Based on component, the medical devices segment is estimated to account for the largest share of the IoT healthcare market in 2017”

Based on component, the medical devices segment is estimated to account for the largest share of the IoT healthcare market in 2017. Medical devices enable notifications and reminders to patients for the consumption of medicines, check blood pressure, and monitor health tracking activities. The medical devices segment is sub segmented into stationary medical devices, implanted medical devices, and wearable external medical devices. The growth of this segment can be primarily attributed to medical device providers offering cloud-based platforms that enable wireless transfer, storage, and display of clinical data. Hence, the medical devices segment is projected to grow at a high rate during the forecast period.

Based on application, the inpatient monitoring segment is projected to grow at a CAGR of 36.3% from 2017 to2022

The inpatient monitoring segment is projected to grow from USD 4.97 to USD 23.32 billion by 2022, at a CAGR of 36.3% from 2017 to 2022. Inpatient monitoring continuously observes and measures a patient’s physiological functions, helping in guiding management decisions and making therapeutic interventions. Inpatient monitoring generally includes all activities from patient admission to patient discharge, such as patient tracking and monitoring, medication administration, and diet and nutrition. Various vendors in the IoT healthcare market are providing inpatient monitoring, which can be deployed on-premises by the healthcare organization.

“North America accounted for the largest share of the IoT healthcare marketin2017”

The IoT healthcare market has been studied for North America, Asia-Pacific (APAC), Europe, the Middle East & Africa (MEA), and Latin America. North America is expected to lead the IoT healthcare market in 2017. The rising adoption of smart phones and high technological awareness is a major factor that is expected to drive the IoT market in North America. The increasing demand for innovative IoT healthcare systems and software from various end users including hospitals, surgical centers, clinics, clinical research organizations, government and defense institutions, and research and diagnostic laboratories is expected to drive the IoT healthcare market in North America.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:

  • By Company Type: Tier 1:35%, Tier 2: 40%, and Tier 3:25%
  • By Designation: C-level:45%, Director level:35%, and Others:20%
  • By Region: North America:24%, Asia-Pacific: 50%, Europe:26%

Key vendors profiled in the report are as follows:

  • MEDTRONIC PLC (U.S)
  • ROYAL PHILIPS (The Netherlands)
  • CISCO SYSTEMS INC. (U.S)
  • IBM CORPORATION  (U.S.)
  • GE HEALTHCARE (U.S.)
  • MICROSOFT CORPORATION (U.S.)
  • SAP SE (Germany)
  • QUALCOMM LIFE, INC  (U.S.)
  • HONEYWELL LIFE CARE SOLUTIONS (U.S.)
  • STANLEY HEALTHCARE (U.S.)

Study Coverage:

This study provides a detailed segmentation of the IoT healthcare market on the basis of component, application, end user, and region. Based on component, the IoT healthcare market is segmented into medical devices, systems and software, service, and technology. Based on application, the IoT healthcare market has been segmented into telemedicine, clinical operations and workflow management, connected imaging, inpatient monitoring, medication management, and others (fall detection, sportsmen care, and public health safety). Based on end user, the IoT healthcare market has been segmented into hospitals, surgical centers, clinics, Clinical Research Organizations (CRO), government and defense institutions, and research and diagnostic laboratories. A geographic analysis has been carried out for North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in the following ways:

  • To define, describe, and forecast the IoT healthcare market on the basis of component, application, end user, and region
  • To provide detailed information regarding factors influencing the growth of the IoT healthcare market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze each sub market with respect to individual growth trends and contribution towards the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast the market size of segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East &Africa (MEA), and Latin America
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze competitive developments such as mergers & acquisitions, and new product developments in the IoT healthcare market

Published By: MarketsandMarkets
Product Code: MarketsandMarkets2931


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