What's driving the IoT Healthcare Market Trends? | Key Players are physIQ, AdhereTech, Proteus Digital Health, Inc, Cisco, Honeywell, IBM, Microsoft, Stanley Black & Decker, Inc.

Growing demand for remote patient monitoring, mHealth technologies, and advanced healthcare information system, as well as increasing prevalence of chronic disease and rising government support are driving the market for IoT healthcare. Valued at $56.1 billion in 2017 by P&S Intelligence, the IoT healthcare market is projected to witness a CAGR of 30.2% during the forecast period 2018–2023. The study also estimated its 2023 size to be $267.6 billion.

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When talking specifically of the healthcare sector, internet of things (IoT) refers to all the medical devices that can communicate with each other via sensors, in-built software or internet connection. On segmenting the IoT healthcare market by component, we get medical devices, systems and software, and services as the three categories. Among these, the medical devices category dominated the domain in 2017 with 44.6% revenue share. These devices record patients’ medical data and send it over to the cloud for storing, sharing, and analyzing.

During the forecast period, the IoT healthcare market is expected to witness the fastest growth in Asia-Pacific (APAC), at a CAGR of 34.4%. This growth in the regional-level market is mainly due to the growing geriatric population and surge in the occurrence of various chronic diseases such as diabetes, chronic obstructive pulmonary disease, asthma, and others. Furthermore, North America held the largest share in the global market, contributing over 44.3% revenue in 2017, owing to improved healthcare infrastructure and increased healthcare spending.

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Key players in the IoT healthcare industry are seeking partnerships and acquisitions to provide more effective solutions. For instance, in February 2018, Qualcomm Life Inc., a subsidiary of Qualcomm Incorporated, announced an exclusive strategic licensing agreement with AlertWatch Inc., an Ann Arbor based company, for the development of intelligent care software systems to assist the real-time care of patients in the operating room. The agreement provides Qualcomm Life Inc. with exclusive rights to market and sell AlertWatch, used by clinicians for secondary monitoring of patients in operating rooms.

Some of the other key players operating in the IoT healthcare industry:
1- physIQ
2- AdhereTech
3- Proteus Digital Health, Inc
4- Cisco
5- Honeywell
6- IBM
7- SAP SE
8- Microsoft
9- Stanley Black & Decker, Inc.

GLOBAL INTERNET OF THINGS (IoT) HEALTHCARE MARKET SEGMENTATION
Market Segmentation by Component
• Medical Devices
o Wearable External
o Implanted
o Stationary
• Systems and Software
o Remote Device Management
o Network Bandwidth Management
o Data Analytics
o Application Security
o Network Security
• Services
o System Integration
o Professional
o Support and Maintenance

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Market Segmentation by Technology
• Wi-Fi
• BLE
• NFC
• ZigBee
• Cellular
• Satellite
Market Segmentation by Application
• Telemedicine
o Remote Patient Monitoring
o Store-and-Forward Telemedicine
o Interactive Telemedicine
• Clinical Operations and Workflow Management
• Connected Imaging
• Inpatient Monitoring
• Medication Management
• Others
Market Segmentation by End User
• Hospitals, Surgical Centers, and Clinics
• Clinical Research Organizations
• Research and Diagnostic Laboratories
• Others

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