Bringing the Internet of Things to Healthcare Industry, Take Market is to Reach $136.8 Billion, Globally, by 2021

The Internet of Things (IoT) Healthcare Market size was evaluated worth $60 billion in 2014, and is estimated to reach net worth $136 billion by 2021. The market growth is expected to register a CAGR of 12.5% over the forecast period. Internet of things (IoT), comprising of intermediary components, such as devices, network connectivity, electronics system, and software, is basically the networking of smart electronic devices or things to transmit data signals between them in the absence of human intervention. In the healthcare segment, this technology can be implemented to manage and scrutinize available patient data as well as resources with great ease.

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The IoT healthcare market is anticipated to grow at a significant pace, owing to easy availability of wearable smart devices, increasing need for stringent regulations and decreasing cost of sensor technology. Furthermore, launch of technological advanced devices (smart shirts, smart lenses, smart bands and others) & analytics software, rising incidence rates of chronic diseases, surging demand for cost-effective treatment & disease management, better accessibility of high speed internet and implementation of favorable government regulatory policies, are also expected to fuel the growth of this market. Improvement in healthcare infrastructure in developing economies, increase in government support, high R&D investments by major players in developing better IoT infrastructure are expected to offer potential growth opportunities to the market. However, factors such as high costs associated with IoT infrastructure development, data privacy and security concerns, lack of awareness in developing economies and limited technical expertize are projected to restrain the market growth.

Services segment contributed to more than half of the market share in the overall IoT healthcare market in 2015. The segment covers architecture services for integration, consulting services for training & teaching and application development services to support & maintenance. Additionally, 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.

The North American internet of things (IoT) healthcare market is projected to offer beneficial growth opportunities during the forecast period owing to well established healthcare infrastructure, high patient awareness, increasing government supports and high investment from major IoT players. In North America, the U.S. dominates with maximum shares in IoT healthcare market.

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The key companies profiled in the report are 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.

Table Of Content

Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Research methodology
1.3.1 Secondary research
1.3.2 Primary research
1.3.3 Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective

Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top investment pockets
3.2.2 Top winning strategies
3.3 Porters five forces analysis
3.3.1 Moderate bargaining power of suppliers
3.3.2 High bargaining power of buyers
3.3.3 High threat of new entrants
3.3.4 High competitive rivalry
3.3.5 Low threat of substitutes
3.4 Regulatory scenario
3.4.1 HIPAA (Health Insurance Portability and Accountability Act)
3.4.2 HITECH (Health Information Technology for Economic and Clinical Health) Act
3.4.3 Affordable Care Act
3.4.4 FDASIA (Food and Drug Administration Safety and Innovation Act)
3.4.5 The MedTech (Medical Electronic Data Technology Enhancement for Consumers Health) Act
3.4.6 European Standards Organizations (CENELEC (European Committee for Electrotechnical Standardization), CEN and ETSI)
3.5 Latest development in IoT technology in healthcare
3.6 Drivers
3.6.1 Technological advancements
3.6.2 Increasing demand for low cost disease management and treatment
3.6.3 Rising prevalence of chronic diseases
3.6.4 Collaboration among companies
3.7 Restraints
3.7.1 Data privacy and security
3.7.2 Lack of awareness among consumers in developing regions
3.7.3 Lack of expertise in developing regions
3.7.4 Accuracy of sensors
3.8 Opportunities
3.8.1 Develop low-power wide-area networks (LPWANs)
3.8.2 Changing mentality among consumers

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