Global Internet Of Things for Healthcare Market Opportunities and Strategies to 2027: COVID-19 Impact and Recovery

Before Internet of Things, patients’ interactions with doctors were limited to visits, and tele and text communications. There was no way doctors or hospitals could monitor patients’ health continuously and make recommendations accordingly.

Internet of Things (IoT)-enabled devices have made remote monitoring in the healthcare sector possible, unleashing the potential to keep patients safe and healthy, and empowering physicians to deliver superlative care. It has also increased patient engagement and satisfaction as interactions with doctors have become easier and more efficient. Furthermore, remote monitoring of patient’s health helps in reducing the length of hospital stay and prevents re-admissions. IoT also has a major impact on reducing healthcare costs significantly and improving treatment outcomes.

IoT is undoubtedly transforming the healthcare industry by redefining the space of devices and people interaction in delivering healthcare solutions. IoT has applications in healthcare that benefit patients, families, physicians, hospitals and insurance companies.

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IoT for Patients - Devices in the form of wearable’s like fitness bands and other wirelessly connected devices like blood pressure and heart rate monitoring cuffs, glucometer etc. give patients access to personalized attention. These devices can be tuned to remind calorie count, exercise check, appointments, blood pressure variations and much more.

IoT for Physicians - By using wearables and other home monitoring equipment embedded with IoT, physicians can keep track of patients’ health more effectively. They can track patients’ adherence to treatment plans or any need for immediate medical attention. IoT enables healthcare professionals to be more watchful and connect with the patients proactively. Data collected from IoT devices can help physicians identify the best treatment process for patients and reach the expected outcomes.

IoT for Hospitals - Apart from monitoring patients’ health, there are many other areas where IoT devices are very useful in hospitals. IoT devices tagged with sensors are used for tracking real time location of medical equipment like wheelchairs, defibrillators, nebulizers, oxygen pumps and other monitoring equipment. Deployment of medical staff at different locations can also be analyzed real time.

The spread of infections is a major concern for patients in hospitals. IoT-enabled hygiene monitoring devices help in preventing patients from getting infected.

IoT devices also help in asset management like pharmacy inventory control, and environmental monitoring, for instance, checking refrigerator temperature, and humidity and temperature control.

IoT for Health Insurance Companies – There are numerous opportunities for health insurers with IoT-connected intelligent devices. Insurance companies can leverage data captured through health monitoring devices for their underwriting and claims operations. This data will enable them to detect fraud claims and identify prospects for underwriting.

IoT devices bring transparency between insurers and customers in the underwriting, pricing, claims handling, and risk assessment processes. In the light of IoT-captured data-driven decisions in all operation processes, customers will have adequate visibility into underlying thought behind every decision made and process outcomes.

Insurers may offer incentives to their customers for using and sharing health data generated by IoT devices. They can reward customers for using IoT devices to keep track of their routine activities and adherence to treatment plans and precautionary health measures. This will help insurers to reduce claims significantly. IoT devices can also enable insurance companies to validate claims through the data captured by these devices.

The report includes the latest coverage of the impact of COVID-19 on the Internet Of Things for Healthcare Market industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.

Internet Of Things for Healthcare Market: Competitive Landscape

The market analysis entails a section solely dedicated for major players in the Global Internet Of Things for Healthcare Market wherein our analysts provide an insight to the financial statements of all the major players along with its key developments product benchmarking and SWOT analysis. The company profile section also includes a business overview and financial information. The companies that are provided in this section can be customized according to the client’s requirements.

Global Internet Of Things for Healthcare Market, By Product

• Medical Devices
• Systems And Software
• Services

Global Internet Of Things for Healthcare Market, By Application

• Telemedicine
• Store-and-forward Telemedicine
• Remote Patient Monitoring
• Interactive Medicine
• Clinical Operations and Workflow Management
• Others

Internet Of Things for Healthcare Market, Key Players

• Agamatrix
• Armis
• Comarch SA
• Cisco Systems
• Capsule Technologies
• GE Healthcare
• IBM Corporation

Key point summary of the Internet Of Things for Healthcare Market report:
This report gives a forward-looking prospect of various factors driving or restraining market growth.

-It presents an in-depth analysis of changing competition dynamics and puts you ahead of competitors.

-It gives a six-year forecast evaluated on the basis of how the market is predicted to grow.

-It assists in making informed business decisions by creating a pin-point analysis of market segments and by having complete insights of the Internet Of Things for Healthcare Market.

-This report helps users in comprehending the key product segments and their future.

In the end, the Internet Of Things for Healthcare Market is analyzed for revenue, sales, price, and gross margin.

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