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IoT in Healthcare Market Overview 2018-2025 | Future Trends And Forecast By Top Key Players - GE Healthcare (US), IBM Corp. (US), Koninklijke Philips N.V. (Netherlands), Medtronic plc. (Ireland), Microsoft Corporation (US), Proteus Digital Health, Inc. (U
IoT in Healthcare Market to 2025 - Global Analysis and Forecasts by Solution
The rising incidences of chronic diseases and constantly increasing elderly population particularly, in US and Europe along with increase the dependency of elderly population on working population are the factors influencing the growth of the market. On the other hand, the decrease in the costs of healthcare facilities with the deployment of IoT in healthcare are the reasons for its growth in developing economies such as China, India, Brazil etc.
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Recently, global IoT in Healthcare market have experienced a significant growth with its new and innovative applications such as medication management, patient monitoring, fitness & wellness measurement, clinical workflow management and others. Companies operating in the IoT in healthcare market are constantly focusing on the development of innovative and customer-friendly solution to deliver enhanced patient care, better patient outcomes and reducing the cost of healthcare facilities.
Major Key Players
The report profiles major players such as. GE Healthcare (US), IBM Corp. (US), Koninklijke Philips N.V. (Netherlands), Medtronic plc. (Ireland), Microsoft Corporation (US), Proteus Digital Health, Inc. (US), Qualcomm Life, Inc. (US), Siemens Healthcare GmbH (Germany), STANLEY Healthcare (US) and Verily Life Sciences LLC (US).
The benefits delivered by IoT in healthcare sector such as improved disease management, decrease in costs, enhanced outcomes of treatment, reduction in errors, improved management of drugs and greater patient experience are few factors driving the market growth. However, rising data privacy concerns, high prices of smart devices and inadequate infrastructure in developing and under-developed economies is expected to obstruct the global market growth. The patient monitoring segment leads the IoT in healthcare market currently and is expected to hold the significant market share during the forecasted period by accounting for 46.54% of the total market revenue share in the year 2025
The global IoT in Healthcare market has been segmented by Solution into medical systems & devices; and software solutions & tools. The medical systems & devices market is further sub-segmented into on-body wellness, on-body healthcare and implanted devices. Furthermore, the software solutions & tools market is sub-segmented into data analytics tools & solutions, network management solutions and security solutions. On the basis of services, the market is bifurcated into professional and integration services. The application segment of IoT in Healthcare market is classified into medication management, patient monitoring, fitness & wellness measurement, clinical workflow management and others. Also, by end-user, the market is categorized into patients & individuals, diagnostic & research centers and labs, hospitals & healthcare institutes and government authority. The geographical segment is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa and South America.
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Global IoT in Healthcare Market - By Solution
Medical Systems & Devices
On-Body Wellness
On-Body Healthcare
Implanted
Software Solutions & Tools
Data Analytics Tools & Solutions
Network Management Solutions
Security Solutions
The overall IoT in Healthcare market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the IoT in Healthcare market.
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