Healthcare M2M Market Business Growth Outlook 2021-2027

Precision Business Insights published a research report on “Healthcare M2M Market By Component (M2M Modules (Cellular & Satellite), Connectivity Services, and M2M Applications and Platforms), By Application (Patient Well-Being, Medical Facilities, Sports and Fitness, and Others (Implants and Research & Education)), and Geography - Global/Region/Country Forecast to 2027".

Healthcare is one of the most basic necessities that not only improves one's quality of life but also extends one's life expectancy, ensuring one's future stability. Machine to Machine (M2M) is a critical technology in healthcare for improving patient care and providing remote diagnostic solutions. It is made out of a sensor that records certain physiological conditions also including heart rate, brain imaging, and so on. Furthermore, the recording is sent to a specialized software programme through wired or wireless connectivity, which turns the recorded data into meaningful information for physicians sitting far away from the patient. These sensors may be placed to a patient's body 24 hours a day, seven days a week, to allow a physician to monitor their health. Machine-to-machine communication may improve healthcare facilities in a variety of ways, including improved patient care and ease for both caregivers and care recipients. Machine to machine technology is divided into two categories: wired and wireless technologies. Both are connected to equipment of the same kind and allow communication between them. These gadgets are crucial in lowering healthcare expenses, improving patient care, and increasing adherence to medication regimens. M2M healthcare is advantageous because it saves time by allowing healthcare practitioners, patients, and treatment systems to communicate via the internet. Home monitoring, supported living, clinical monitoring, and telemedicine are some of the key activities performed by M2M healthcare systems.

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Increased healthcare expenditures worldwide, particularly in developed nations such as North America, are a major element driving development in the healthcare M2M industry. Patients' financial burden is increased when they visit hospitals, as hospitals have significant maintenance costs owing to pricey technology. As a result, M2M facilities would be helpful to all of these healthcare stakeholders. The global incidence of chronic diseases like as diabetes, cardiovascular disease, and cancer is propelling the healthcare M2M market's growth. In 2017, the International Diabetes Federation's (IDF) Diabetes Atlas estimated that almost 425 million people globally had diabetes. Cancer is one of the most common noncommunicable diseases and the second largest cause of death globally, according to the World Health Organization (WHO). According to the International Agency for Research on Cancer (IARC), cancer affected approximately 14.5 million new cases, 8.7 million deaths, and 31.5 million people in 2012. As a result of the high frequency of chronic disease, ongoing monitoring and follow-up with a physician is required, which may not be achievable if physical infrastructure is only relied upon. Furthermore, the healthcare M2M market is being driven by continual advancements in wireless technology to bridge the gap between both the healthcare provider and the healthcare receiver.
On the basis of Types, the market is classified into Software Platforms & Applications, the Connectivity Services, and M2M Modules. Based on Applications, the market is categorized into Clinical Monitoring, Fitness & Wellness, Remote Health Monitoring, and Others.

In 2013, the largest geographical market for M2M linked healthcare was North America. North America's dominant position in this market segment is due to the well-established healthcare infrastructure of the United States and Canada, as well as the presence of a huge pool of technically-savvy patient population. After North America, Europe was the second-largest market.

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There are some major players working in healthcare m2m market, which include Telit Communications (UK), U-blox Holding AG (Switzerland), Intel Corporation (US), Texas Instruments Incorporated (US), Gemalto N.V. (Netherlands), Vodafone Group PLC (UK)

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