Global IoT healthcare Market is Estimated to Reach $205 Billion by 2024, Says Accurize Market Research
The upsurge inaccessibility to high-speed internet, high demand for cost-effective treatment, and rising technological advancements across the globe to drive the growth of the market
Accessibility to high-speed internet, high demand for cost-effective treatment, and rising technological advancements fuel the demand for the global IoT healthcare market. Moreover, increasing the need for remote patient monitoring and fitness & wellness tracker for athletes also boost the growth of the market.
The global IoT healthcare market has been bifurcated on the basis of component type, delivery mode, application, end-user, and geography. The component type is further segmented into wireless sensor networks, embedded sensor networks, automation systems, control systems, other components types. Delivery mode segment is bifurcated into web-based, on-premises, and cloud-based. Furthermore, the application is segmented into telemedicine, clinical operations and workflow management, connected imaging, impatient monitoring, medication management, and others. End-user can be segmented into hospitals, surgical center, and clinics, clinical research organization, research, and diagnostic laboratory and others.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico, and Canada are covered under North America wherein Europe covers France, Germany, UK, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, the Middle East, and Africa.
“Web-based segment accounted for the largest market share in the delivery mode segment", says Accurize
By delivery mode, the web-based segment accounted for the largest market share in 2017 and is expected to continue its dominance during the forecast period 2017 – 2025, driven by easily accessibility of internet.
“Wireless sensor networks accounted for the largest market share in the component segment", says Accurize
By component segment, wireless sensor networks accounted for the highest market share in 2017, and it is also expected to grow at the fastest CAGR during the forecast period. The growth would be driven by growing usages of heart rate monitor, blood pressure monitor, and others.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted for the largest market share of 48.8% in 2017, owning to be increasing chronic diseases, growing government facilities in the region. Asia-Pacific is anticipated to attain the fastest CAGR during the forecast period 2017 – 2025. The growth is attributed to developing countries, an increasing number of IT healthcare services, and increasing disposable income.
Top players in the market
The key market players include GE Healthcare Ltd., Cisco Systems Inc., Google (Alphabet), International Business Machines Corporation, Proteus Digital Health, Medtronic PLC, Apple Inc., Microsoft Corporation, Qualcomm Life Inc., and St. Jude Medical Inc.
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