Press release
IoT in Healthcare Market Set to Reach $312.7 Billion by 2030, Revolutionizing Patient Care
[Redding, California, 23-02-2024] - Meticulous Research® , a pioneering force in global market research, unveils its latest report titled 'IoT in Healthcare Market: A Comprehensive Analysis of Components, Applications, End Users, and Geographical Forecasts up to 2030.'In a groundbreaking revelation, the report predicts that the IoT in Healthcare market is poised to achieve a staggering valuation of $312.7 billion by the year 2030, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 15% from 2023 to 2030.
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The rise of IoT in healthcare signifies a paradigm shift in patient care, offering remote monitoring capabilities and facilitating precise diagnoses and treatment modalities, thereby enhancing the quality of healthcare services worldwide. The market's growth is fueled by the escalating adoption of digital solutions in healthcare, a burgeoning emphasis on patient-centric care delivery, and widespread digital health initiatives.
However, challenges such as the risk of data breaches and the high costs associated with IoT infrastructure deployment pose obstacles to market expansion, particularly in developing nations.
Key Market Players
Leading players in the IoT in Healthcare market include Medtronic plc, GE Healthcare Technologies Inc., Koninklijke Philips N.V., Siemens Healthineers, Abbot Laboratories, and others. These industry giants drive innovation and spearhead advancements in IoT-enabled healthcare solutions.
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Market Segmentation
The IoT in Healthcare Market is meticulously segmented based on components, applications, end users, and geography.
Component Segmentation: Medical devices segment expected to dominate the market, offering patients greater control over their care and treatment through accurate, real-time data monitoring.
Application Dynamics: Telehealth/Telemedicine segment anticipated to hold the largest market share, driven by the growing geriatric population and increasing demand for cost-effective healthcare delivery.
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End User Insights: Home care & long-term care centers segment projected to witness the highest CAGR, propelled by the rising demand for convenience in care delivery and the penetration of digital technologies.
Geographical Trends: North America set to lead the market, supported by widespread adoption of advanced technologies, increased health consciousness, and a robust digital healthcare infrastructure.
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We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition. Through our mixed bag of research offerings - syndicated research, custom research, and analyst engagement - we enable smart decision making to enhance business performance for global organizations. Our focus is also on finding answers to the challenging questions that global business leaders face on a daily basis. Each year, we deliver more than 300 syndicate studies and 60+ consulting projects across eight industry verticals in 20+ geographic markets.
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