28.6% growth by 2023 in the Internet of Things (IoT) in the Healthcare Market| Key Players - IBM, INTEL CORPORATION, ERICSSON, KONINKLIJKE PHILIPS NV, MEDTRONIC, CISCO SYSTEMS INC., MICROSOFT CORPORATION, QUALCOMM, amongst others

Market Analysis:

Asia-Pacific to Register the Highest CAGR
The high growth rate in the Asia-Pacific IoT healthcare market can be attributed to the increase in a number of hospitals and surgical centers in this region. The rise in the demand for cloud-based solutions from the manufacturing and other verticals, is driving the IoT healthcare market in this region.

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IoT system includes every device that is connected to the internet for a wide range of applications, such as tracking patients or equipment, collecting data, and analyzing the collected data. The high per capita expenditure on healthcare in developed regions, such as North America and Europe, is expected to increase further. To contain the expenditure on health, there is an urgent need to decrease the total cost of such regular monitoring. These costs can be minimized or eliminated with the help of remote patient monitoring device, a healthcare IoT product. This need is driving the market for IoT. The emergence of big data in healthcare, increase in the adoption of information technology in the healthcare sector, need to reduce hospital re-admissions, and advancements in the field of information technology, are some of the other factors contributing to the growth of the market. The data privacy concerns are still holding back the market growth.

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Market Segments:
Internet of Things (IoT) in the Healthcare Market is segmented by:
1. Type: Wearable External Devices, Implantable Devices, Stationary Devices
2. Application: Patient Monitoring, Telemedicine, Medication Management, Clinical Workflow management, Others
3. Component: Hardware, Software, Services
4. End-users, Hospitals, Pharmaceuticals, Home, Biotechnology, Others
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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