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IoT Enabled Healthcare Equipment Market Research Insights By Leading Key Players, Opportunities and Strategies to 2023
The IoT enabled healthcare equipment market consists of manufacturers' sales of healthcare devices that use IoT enabled technology. IoT is defined as a network of physical objects supported by technology and sensors for electronic data communication. IoT healthcare devices are medical devices which are equipped with IoT enabled technology such as wireless technology to assess and monitor patient's health.
Growth is mainly due to increasing access to these devices through online platforms and a rapid decline in their prices owing to manufacturers passing on a significant drop in the prices of components. Increasing awareness of the benefits of these devices will also contribute to explosive growth. Skills shortages, high costs associated with the development of IoT healthcare devices and regulatory hurdles are potential threats.
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The top opportunities in the global IoT enabled healthcare equipment market will arise in the wearable devices segment which will gain $19.6 billion of global annual sales by 2023. The IoT enabled healthcare equipment market size will gain the most in the USA at $15.78 billion. IoT enabled healthcare equipment market-trend-based strategies include engaging in partnerships and collaborations with technology companies, undertaking mergers and acquisitions and investing in MBAN devices to benefit from their increasing popularity and to gain share in the market.
IoT Enabled Healthcare Equipment Segmentation: -
By Type - The IoT enabled healthcare equipment market is segmented by type into
1. Diagnostic Equipment
2. Implanted Devices
3. Wearable Devices
Wearable devices had the highest growth rate of nearly 32.2% during the historic period. The fastest growth in the historic period can be attributed to increased awareness and access to these devices. Significant decreases in wearable device prices also contributed to this growth.
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By Geography - The IoT enabled healthcare equipment market is segmented into
1. North America
2. Western Europe
3. Asia Pacific
4. Eastern Europe
5. South America
6. Middle East
7. Africa
North America is the largest market for IoT enabled healthcare equipment, accounting for 35.2% of the global market. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, Asia-Pacific, South America will be the fastest growing regions in this market.
Major Competitors of global IoT enabled healthcare equipment market are Medtronic plc, General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Fujifilm Holdings Corporation, Shimadzu Corporation, Hitachi, Ltd., Onex Corporation, Hologic, Inc., Konica Minolta, Inc.
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