Compulsory Patient Monitoring Boosts Global Internet of Things Healthcare Market Growth

Internet of Things combined with wearable and mobile electronics was a great opportunity to take patient monitoring to the next level. The patient monitoring segment covers in-patient hospitalized patients, remote patient monitoring, and tele-health services. It has gradually emerged as the dominant application segment within the IoT healthcare market domain. Industry analysts estimate that remote patient monitoring would maintain its market share throughout 2015–2021. With the rapid adoption of IoT services in remote patient monitoring services and an incredible growth in consumer awareness for both healthcare professionals and patients is anticipated to foster the future growth of patient monitoring segment.

Global IoT Healthcare Market Growth Report: Opportunity Analysis and Forecast 2014–2021

Allied Market Research has published a detailed report on the Internet of Things (IoT) healthcare market during 2014–2021. It compiles the latest market intelligence regarding the market size, share, growth, trends, and forecasts, as analyzed by the industry experts. As per the findings of the report the global IoT healthcare industry is expected to reach $136.8 billion in terms of revenue by 2021. The projected growth statistics indicate that the market would register a net CAGR of 12.5% throughout the forecast period 2015–2021.

Read full summary of the report at: https://www.alliedmarketresearch.com/iot-healthcare-market

Among the covered sections within the scope the study, the services and system & software segments have been exhibited to hold a collective dominance over the global industry. Their contribution to demand figures would deliver a boost to the total expected growth of the market over the forecast period. Out of the application segments that have been included for study, the patient monitoring application would continue with its lead in terms of revenue generated, which is estimated to amount to $72.7 billion by 2021.

The global IoT healthcare market report is based on the regressive data analysis performed by core industry experts on vast data sets. Analysts have acquired these from organized primary and secondary market research. The report discusses the driving and restraining factors that have a direct impact on the growth channels. Among the major growth drivers, the study accounts for easy availability of wearable smart devices, an increase in need for stringent regulatory frameworks, and the decrease in the cost of available sensor technology.

In addition, the launch of technological advanced devices (smart shirts, smart lenses, and smart bands) & analytics software, rise in the incidence rates of chronic diseases, surge in demand for cost-effective treatment & disease management, better accessibility to high-speed internet, and implementation of favorable government regulatory policies are several factors that are expected to fuel the market growth.

Apart from these, the improved healthcare infrastructure across developing economies, the increase in government support, high investments into research& development projects by leading market players to bring better IoT infrastructure are the other drivers that would offer potential growth opportunities to the market. As per the discussions in the report, the high costs associated with IoT infrastructure development, data privacy and security concerns, lack of awareness in developing economies, and limited technical expertise would restrain the industry from achieving its complete growth potential.

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The global IoT healthcare market analysis report is segmented by component and application segments. As per the projections made, the services segment has been exhibited to contribute more than half of the share in the overall IoT healthcare market revenue in 2015. The segment covers architecture services for integration, consulting services for training & teaching and application development services to support & maintenance. The devices segment is expected to grow at highest growth rate during the forecast period owing to novel technological advancements and increasing popularity of wearable sensor devices.

Key findings of the Internet of Things (IoT) healthcare market report:
• The device segment would emerge as the fastest growing segment in the Internet of Things (IoT) healthcare market, with a CAGR of 16.6% during 2015–2021.
• Patient monitoring application segment is expected to continue its dominance in the global internet of things (IoT) healthcare market throughout the forecast period.
• Based on the end users, healthcare providers and patients would maintain their lead in the global market. They collectively accounted for more than three-fourths of the revenue share in 2015.
• The fitness and wellness measurement application segment has been projected to grow at the maximum CAGR of 15.7% over the study period as compared to other applications.
• Asia-Pacific would emerge as the fastest growing geographical region in the internet of Things (IoT) healthcare market. It is expected to register a CAGR of 17.0% between 2015 and 2021.

Based on the geographical segmentation of the global IoT Healthcare market, the report projects North America to offer beneficial growth opportunities throughout the forecast period. This prospect creation has been accredited to the established healthcare infrastructure, high level of patient awareness, greater federal support, and high investment from prominent industry leaders. U.S. enjoys singular dominance in the North American region with maximum shares in IoT healthcare market.

The report also provides in-depth company profiles of major players such as Apple Inc., Cisco Systems Inc., GE Healthcare Ltd., Google (Alphabet), International Business Machines Corporation, Medtronic PLC, Microsoft Corporation, Qualcomm Life Inc., Proteus Digital Health, Koninklijke Philips N.V., and St. Jude Medical Inc. This helps the readers understand the internal competitive biome of the market, and the competing companies strategize their business moves.

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