IoT in Healthcare Market Overview and Scope 2018 to 2024: Medtronic, Cisco Systems, IBM, GE Healthcaree, Honeywell Life Care Solutions, Royal Philips, Microsoft
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Robots uses of IoT in Healthcare sector drives the market of Iot in Healthcare Sector Market
The rising demand of chronic disease management, better connectivity between the doctors and the patients, Enhanced Drug delivery system in the healthcare sectors have created the demand of IoT in the healthcare sector. In addition, the IoT allows to interconnect devices with each other that improve patient monitoring, patient outcomes, decrease in errors and other benefits which is likely to boost the market growth. Due to the introduction of the IoT in the healthcare the efficiency, effectiveness and the quality of the service in healthcare has improved. In addition, the IoT in the healthcare is mostly used in the closed-loop insulin delivery, continuous glucose monitoring (CGM) system, Activity trackers during cancer treatment, and connected inhalers. In addition, the IoT in the healthcare sector also provides Ingestible sensors, connected contact lenses, Depression-fighting Apple Watch app, Coagulation testing and others.
The introduction of the artificial intelligence technology in healthcare is the major factor driving the growth of this market. In addition, some factors such as technological advancement in the healthcare sector, rising demand of cost effective management system for treatment, collaboration of IT companies with the major companies catering into healthcare are expected to fuel the market growth over the forecast period.
However, the issue associated with data privacy and security are expected to hamper the market growth. Moreover, ongoing Improvements in the healthcare infrastructure, rising investments for the R&D and growing demand of technological advancement in the healthcare sector is projected to create several opportunities for this market in upcoming years.
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North America accounts for the largest market share in the IoT in the healthcare market
North America accounts for the largest market share in the IoT in the healthcare market owing to the presence of major players such as GE Healthcare, Medtronic and many other. In addition, Asia Pacific is the fastest growing region in IoT in the healthcare market. The growing demand for cloud based management system in the healthcare industries drives the market growth in Asia pacific region. Furthermore, presence of various hospitals and surgical center and growing healthcare infrastructure are likely to escalate the market growth in Asia Pacific region
Thales and Device Authority partner to protect healthcare IoT
In July 2018, the two companies have jointly developed a solution which will help prevent hacking attacks against connected healthcare equipment. The solution uses DeviceAuthority's IoT identity and access management (IAM) to authenticate IoT devices and ensure the confidentiality and integrity of the data they rely on.
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