IoT Healthcare Market Grow at a Higher CAGR of 30.76% by 2023| Microsoft, Wipro GE Healthcare Pvt Ltd, IBM, Cisco Systems, STANLEY Healthcare, Medtronic, SAP SE

Industry Trend Analysis

The IoT Healthcare market was worth USD 18.49 billion in 2014 and is expected to reach approximately USD 206.71 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 30.76% during the forecast period. The rising investments in order to execute healthcare IoT arrangements, usage of IoT solutions for the lessening in the cost of care, development of artificial intelligence technology, and the expanding infiltration of connected devices in the healthcare sector are a the key factors anticipated that would drive the IoT healthcare market overall locales.
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Component Outlook and Trend Analysis

On the basis of components, the IoT healthcare market has been portioned into systems & software, technology, medical devices, and service. The systems & software portion is foreseen to develop at the most elevated CAGR throughout the estimate time frame. IoT healthcare systems and software incorporate remote device management, applications security, network bandwidth management, data analytics, and network security arrangements. Systems & software render solutions for the IoT healthcare market which make a high level of information autonomy and security. This factor is driving the systems & software section in the IoT human healthcare market.

Application Outlook and Trend Analysis

In terms of application, the telemedicine fragment is foreseen to represent the biggest share of the IoT social insurance market in 2017. Telemedicine empowers the trade and exchange of therapeutic data starting with one site then onto the next by means of media transmission framework to enhance, maintain, or help with giving data about the medical status of a patient. The development of this section is credited to the expanded effectiveness of procedures and accommodation for patients, while curbing hospital stays.

End User Outlook and Trend Analysis

Based on end user the market is segmented into surgical centers, hospitals, clinics, Clinical Research Organizations (CRO), research and diagnostics laboratories and government and defense institutions. The Clinical Research Organization (CRO) end user section is foreseen to develop at the highest CAGR amid the estimate time frame as it renders support to pharmaceutical, biotechnology and medical device industries in the form of research services. Furthermore, it also supports universities, research institutes and government organizations. The hospitals, surgical centers, and clinics section is anticipated to be the biggest market in 2017, as this segment is needed for the efficient management of patients, medical equipment and employees.
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Regional outlook and Trend Analysis

North America is foreseen to be the biggest income generating area for the IoT healthcare market in 2017. These is majorly because of the early implementation of cutting edge IoT healthcare software and services, increasing adoption of advanced phones, high innovative awareness, and ascend in investments and different activities in the human services area by governments, particularly in the developed economies of North America. The Asia-Pacific district is anticipated to be the quickest developing local market for IoT social insurance. Development in this district is basically anticipated that would be driven by the critical ventures being embraced in IoT healthcare.

Competitive Insights

The leading players in the market are Microsoft, Wipro GE Healthcare Pvt Ltd, IBM, Cisco Systems, STANLEY Healthcare, Medtronic, SAP SE and Honeywell Life Care Solutions. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The IoT Healthcare market is segmented as follows-

By Component:
Service
Medical Devices
Systems & Software

By Application:
Inpatient Monitoring
Medication Management
Telemedicine
Clinical Operations and Workflow Management
Connected Imaging
Others

By End User:
Clinical Research Organizations (CRO)
Government and Defense Institutions
Hospitals, Surgical Centers, and Clinics
Research and Diagnostic Laboratories

By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe

Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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This release was published on openPR.