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Internet of Medical Things (IoMT) Market In India Statistics 2021: Key Factors Behind Market’s Hyper Growth

04-23-2021 03:34 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Internet of Medical Things (IoMT) Market In India Statistics

Internet of medical things (IoMT) is a sub category of applications of internet of things (IoT). It is a process of integrating medical devices and applications that can connect to health care information technology systems using networking technologies and help medical institutes with valuable patient information, which further helps in better healthcare services. IoMT devices consist of smart devices, such as wearables and medical/vital monitors, and associated real-time location, telehealth, and other services.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:
Growth in awareness about health issues among people and adaptation of digital technologies by the health-care industry are the major factor that drive growth of the market. However, data security and privacy concerns hamper the market growth. Furthermore, current situation of COVID-19 is a great opportunity for big players to market their products and is expected to provide lucrative opportunities for the internet of medical things (IoMT) market.

The market trends for Internet of Medical Things (IoMT) Market are as follows:
Smart healthcare devices to lead the market growth:
Increase in awareness about advantages of smart healthcare products are expected to drive the market growth. Smart wearable devices are expected to contribute highest market share in the growth of the IoMT market as people are getting aware and there is a high craze among youth to purchase smart wearable devices such as smart watches and fitness bands.

Notable developments in the field of internet of medical things (IoMT) market:
The market is very competitive so prominent players are adopting different strategies such as expansion of their services, new product launches, collaborations, partnerships, and mergers to increase their customer base. For instance, in 2019, General electric Healthcare acquired Monica Healthcare, which enhances GE Healthcare’s mobile and digital offerings by providing clinicians and patients across the globe with more innovative solutions for labor, delivery, and home care.

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Key benefits of the report:

This study presents analytical depiction of the global internet of medical things (IoMT) market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global internet of medical things (IoMT) market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis based on the present and future competitive intensity of the market.

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