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Global IoT Healthcare Market Trends in 2018 Competitive Landscape, Key Players,Development, Growth and Forecast 2024, Qualcomm Incorporated, International Business (IBM) Machine Corporation
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Different applications such as telemedicine, inpatient monitoring, clinical operations, and workflow management, and medication management contributed to the IoT healthcare market size. The market has witnessed a high demand for telemedicine due to the augmented efficiency of processes and convenience for patients in order to reduce the length of hospital stays.
Escalating investment for healthcare IoT solutions, mounting access of connected devices in healthcare, the mounting requirement for remote patient monitoring services, and development of artificial intelligence technology are the primary growth drivers for IoT healthcare market.
The mounting occurrence of chronic and lifestyle associated diseases, expanding acceptance of cloud technology in healthcare, and escalating demand of personalized medicine are also facilitating the growth for the IoT healthcare market.
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Geographically, North America is the largest IoT healthcare market as in the region the healthcare spending is increased. In addition, expanding the geriatric population, and improving healthcare infrastructure are also up surging growth of the North American IoT healthcare market.
Asia-Pacific is observed to witness the fastest growth in the market, due to an upsurge in a number of hospitals and surgical centers. In addition, the upsurge in the requirement for cloud-based solutions is also creating a positive impact on the IoT healthcare market growth in the region.
Key players in the IoT healthcare market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2015, IBM acquired Merge Healthcare Incorporated, to help healthcare providers and researchers to engage in personalized approaches to diagnosis, treatment, and monitoring of patients. Medtronic Plc, Microsoft Corporation, Honeywell Life Care Solutions, Koninklijke Philips N.V., General Electric Company, SAP SE, Cisco Systems, Inc., Qualcomm Incorporated, International Business Machine Corporation (IBM), and Stanley Black & Decker Inc. are the key players offering IoT healthcare.
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