IoT Enabled Healthcare Equipment Market Overview, Growth, Share, Opportunities, Sales, Trends, Supply, Forecast To 2030

IOT Enabled Healthcare Equipment Market - By Type (Diagnostic Equipment, Implanted Devices, Wearable Devices), By Country, By Company Profiles, And By Region, Opportunities And Strategies – Global Forecast To 2030 By The Business Research Company

The market for IoT medical devices reached a value of nearly $18.8 billion in 2018, having grown at a compound annual growth rate (CAGR) of 22.7% from 2014, and is expected to grow at a CAGR of 29.9% to nearly $69.7 billion by 2023.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.

IoT Enabled Healthcare Equipment Market Drivers:
The Key drivers of the IoT enabled healthcare equipment market include:
Technological Advances-Advances in wireless technology and miniaturization (which refers to designing smaller components for medical devices) drove innovation in IoT healthcare devices. For instance, Dexcom and Verily Life Sciences collaborated in August 2015 to develop miniature continuous glucose monitoring (CGM) systems for type II diabetes patients. Verily developed miniature sensor electronics on an adhesive patch for continuous monitoring. Mobile applications, advanced sensors and embedded software also created new opportunities for medical technology companies.

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IoT Enabled Healthcare Equipment Market Segmentation:
The IoT enabled healthcare equipment market is segmented by type, and by geography.
By Type - The IoT enabled healthcare equipment market is segmented by type into
a) Diagnostic Equipment
b) Implanted Devices
c) 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

Some of the major key players involved in IoT enabled healthcare equipment market are
• Medtronic plc
• General Electric Company
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Fujifilm Holdings Corporation

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