IoT Medical Devices Market Growing at 25.2% CARE to 2023, Driven by Penetration of Health Treatment Through Smartphones, Tablets and Mobile Phones

Growth in IoT medical devices market is mainly driven by factors like increasing government initiatives for promoting digital health, growing need for cost-containment in healthcare delivery, rising focus on active patient engagement & patient-centric care delivery, & growing focus on patient safety are major factors driving growth of IoT medical devices market.

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Global IoT medical devices market is projected to reach USD 63.43 billion by 2023 from USD 20.59 billion in 2018, at a CAGR of 25.2% during forecast period. In 2017, stationary medical devices segment dominated IoT medical devices market.

North America dominated the IoT medical devices market in 2017, followed by Europe, Asia Pacific, the Middle East & Africa, and Latin America. In North America, the US is expected to held the largest share of the IoT medical devices market in 2017, due to the increasing prevalence of chronic diseases.

Target Audience Covered in IoT medical devices market are Telecom service providers, Wireless device manufacturers, Healthcare technology suppliers, Application developers and app stores, IoT infrastructure and service providers, M2M, IoT, and general telecommunications companies, Internet identity management, privacy, and security companies, Sensor, presence, location, and detection solution providers, Data management and predictive analysis companies, Semiconductor companies, Embedded systems companies, Regulators and governmental agencies, Hospitals and clinics, Nursing homes and assisted living facilities and Research institutions.

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Geographically, IoT medical devices market has been studies for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America dominated the IoT medical devices market, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. In North America, the US held the largest share of the IoT medical devices market in 2017.

The IoT medical devices market in this report is segmented by product, type, connectivity technology, end users, and regions. It provides detailed information regarding major factors influencing the growth market (drivers, restraints, opportunities, and industry-specific challenges).

IoT medical devices offer several advantages, such as seamless transfer of EHR, reduces medical errors, enhances patient safety, allows patient engagement and helps in patient centric care delivery. The IoT medical devices market is expanding with the evolution of high speed networking technologies and increasing penetration of smartphones, tablets, and other mobile platforms in healthcare.

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Prominent players in IoT medical devices market are GE Healthcare (US), Philips (Netherlands), Medtronic (US), Honeywell Life Care Solutions (US), BIOTRONIK (Germany), Boston Scientific (US), Johnson & Johnson (US), Siemens (Germany), Omron (Japan), Bio Telemetry (US), AliveCor (US), iHealth Lab (US), AgaMatrix (US), Abbott Laboratories (US), STANLEY Healthcare (US), and Welch Allyn (US).

The study tracks and analyzes competitive developments (such as partnerships, agreements, collaborations, mergers & acquisitions, product developments, geographical expansions, and R&D activities) and strategically profiles the key players and comprehensively analyzes their market ranks and core competencies in the IoT medical devices market.

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