Press release
What's driving the IoT Healthcare Market Technology and growth? Key players IBM Corporation, Medtronic Inc., Microsoft Corporation, General Electric, Honeywell International, Cisco Systems Inc, Stanley Healthcare, Qualcomm Inc., SAP SE
IoT Healthcare Market
The IoT healthcare market is primarily driven by the implementation of advanced digital solutions across the sector. The integration of such technology in the healthcare infrastructure is expected to streamline the operations, improvise the patient interactions and enhance the efficiency of processes. Increasing penetration of smartphones coupled with the improved internet connectivity worldwide is expected to fuel the growth. IoT has potential to reshape the industry due to the benefits such as remote monitoring of patients and management of facility assets. IoT Healthcare Market is set to exceed USD 10 billion by 2024; according to a new research report.
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Increasing aging population in Japan and several other European countries such as Italy & Germany coupled with the rising number of chronic diseases will drive the IoT healthcare market growth over the forecast timeline. Technological advancements in the sector to provide accessible & inexpensive patient care solutions widens the scope for adoption of such solutions. It is gradually transforming the sector by focusing on the way devices, application as well as people interact with each other.
The U.S. IoT healthcare market is anticipated to hold majority of revenue share owing to the presence of highly advanced healthcare infrastructure coupled with the early adoption of sophisticated technologies. Mobile based applications offered by the technology providers has made it easier for facilities to share data with the patients. Increased spending on digital technologies by the regional government further contributes to the U.S. IoT healthcare market growth.
Players in the IoT healthcare market include Microsoft Corporation, General Electric, IBM Corporation, Honeywell International Inc. and Cisco Systems Inc, Stanley Healthcare, Qualcomm Inc., SAP SE and Medtronic Inc. Considering the potential of implementing IoT solutions in the sector, players are increasingly investing on developing infrastructure for deployment of such technological solutions.
Lack of interoperability may hamper the IoT healthcare market growth. Interoperable systems enable share & retention of data automatically, eliminating the possibility of re-entering data each time. Issues such as difficulty in integration of devices made by different manufacturers, their inability to operate on other operating systems, poses challenge to mass consumerization of IoT solutions. In order to reach mass adoption, overcoming such risks restricting boundless connections of a connected world is a primary concern to the technology providers. Other factors such as high cost of infrastructure development followed by data privacy & security issues are predicted to curb the demand.
Rising deployment of smart sensor technology in various systems enhances the capability of IoT healthcare market devices to collect more data associated with patient?s health. The gathered data is used to enhance the patient monitoring process and analyze it to discover new treatments for various other diseases. These technological solutions therefore help bridge the gap between the physical and the digital world.
The benefits such as fast scalability in meeting customer demands followed by the upgradation in privacy & security is expected to drive the telemedicine growth in the IoT healthcare market. The application allows seamless exchange of data related to patient health via a telecommunication network, being a cost-effective option.
Telemedicine solutions are specially meant for areas inaccessible to doctors where devices combined with satellite communications enable easy access.
Table of Contents:
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. IoT healthcare industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Platform trends
2.1.4. Technology trends
2.1.5. Service trends
2.1.6. Component trends
2.1.7. Application trends
Chapter 3. Industry Insights
Chapter 4. IoT Healthcare Market, By Platform
Chapter 5. IoT Healthcare Market, By Technology
Chapter 6. IoT Healthcare Market, By Component
Chapter 7. IoT Healthcare Market, By Service
Chapter 8. IoT Healthcare Market, By Application
Chapter 9. IoT Healthcare Market, By Region
Chapter 10. IoT Healthcare Market Company Profiles
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