New York, NY, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “IoT Healthcare Market By Component Type (Medical Devices, Systems & Software, and Services), By Connectivity Technology Type (Wi-Fi, Near Field Communication (NFC), Bluetooth Low Energy, Zig-Bee, Satellite, and Cellular), By End-User Type (Clinical Research Organization (CR), Research & Diagnostics Laboratories, Government & Defense Institutes, and Hospitals, Surgical Centers, & Clinics), and By Application Type (Clinical Operations & Work Flow Management, Inpatient Management, Telemedicine, Medication Management, and Connected Imaging): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”.
According to the research study, the global IoT Healthcare Market was estimated at USD 9,187 million in 2018 and is expected to reach USD 21,004 million by 2025. The global IoT Healthcare Market is expected to grow at a compound annual growth rate (CAGR) of 12.59% from 2019 to 2025.
IoT technology has made remote monitoring of patient health possible in the healthcare industry, thereby unraveling the potential of the healthcare business for maintaining the health of the patients along with empowering the doctors for delivering excellent patient care. Moreover, IoT healthcare has raised patient engagement & satisfaction as communication with physicians has become easier. The connected technology has assisted in minimizing the hospital stay of the patients and help in reducing the patient re-admission to clinics to a larger extent.
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• 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Successful execution of IoT for patient health monitoring to steer the market growth
The successful utilization of the connected things or IoT in remotely monitoring diabetics and asthma patients along with high penetration of connected technology across the health, fitness, & wellness industry will drive the growth of the IoT healthcare market over the forecast timeline.
Furthermore, a decrease in the waiting period at emergency rooms has led to the massive acceptance of connected devices in the medical sector. This, in turn, has embellished the market growth. Additionally, the rise in chronic ailments, a huge need for cost-efficient medical therapies, enhanced drug management activities, seamless experience to patients, and easy availability of high-speed web connectivity will further steer the business growth over the forecast timeline. Nonetheless, a low level of competency in the deployment of IoT solutions will inhibit market growth over the forecast timeline.
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Top Market Players
Some of the key participants in the business include Cerner Corporation, Medtronic Public Limited Company, Diabetizer Ltd. & Co. KG, Infosys Limited, Proteus Digital Health, Qualcomm Life, Inc., STANLEY Healthcare, AdhereTech Inc., Cisco Systems Inc., Apple Inc., Philips, Castlight Health, SAP SE, IBM, Microsoft, Aeris, and PhysIQ.
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Systems & Software to lead the component type segment by 2025
The segmental growth during the forecast timeline is attributed to technological breakthroughs along with the rise in the allocation of funds by key industry players for creating new connected solutions for the Biotechnology, Pharmaceutical, and Lifesciences sectors. Apart from this, a prominent bulge in acceptance of digital & connected technologies across the healthcare units is likely to steer the expansion of the segment over the period from 2019 to 2025. Additionally, the requirement of proficiently handling the medical data in the emerging economies will favorably influence the need for system & software services over the forecast timeframe.
Telemedicine segment to dominate the application landscape over the forecast timeframe
The growth of the segment during the forecast period is due to the rapid increase in the acceptance of telemedicine as a result of comfort offered to the patients by telemedicine. Apart from this, it also offers patient monitoring from distant locations by the healthcare service provider.
Browse the full “IoT Healthcare Market By Component Type (Medical Devices, Systems & Software, and Services), By Connectivity Technology Type (Wi-Fi, Near Field Communication (NFC), Bluetooth Low Energy, Zig-Bee, Satellite, and Cellular), By End-User Type (Clinical Research Organization (CR), Research & Diagnostics Laboratories, Government & Defense Institutes, and Hospitals, Surgical Centers, & Clinics), and By Application Type (Clinical Operations & Work Flow Management, Inpatient Management, Telemedicine, Medication Management, and Connected Imaging): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025" report at https://www.fnfresearch.com/iot-healthcare-market-by-component-type-medical-devices-297
North America to account for major revenue share of the global market by 2025
The regional market growth during the period from 2019 to 2025 is due to advanced healthcare infrastructure and rapid acceptance of connected technology in the healthcare industry along with the large presence of reputed firms in countries like the U.S.
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This report segments the IoT Healthcare market as follows:
IoT Healthcare Market: By Component Type Analysis
- Medical Devices
- Implanted Medical Devices
- Stationary Medical Devices
- Wearable External Medical Devices
- Systems & Software
- Data Analytics
- Application Security
- Remote Devices Management
- Network Security
- Network Bandwidth Management
- Services
- Professional Services
- Maintenance & Support Services
- System Integration Services
IoT Healthcare Market: By Connectivity Technology Type Analysis
- Wi-Fi
- Near Field Communication (NFC)
- Bluetooth Low Energy
- Zig-Bee
- Satellite
- Cellular
IoT Healthcare Market: By Application Type Analysis
- Clinical Operations & Work Flow Management
- Inpatient Management
- Telemedicine
- Remote Patient Monitoring
- Interactive Telemedicine
- Store & Forward Telemedicine
- Medication Management
- Connected Imaging
IoT Healthcare Market: By End-User Type Analysis
- Clinical Research Organization (CR)
- Research & Diagnostics Laboratories
- Government & Defense Institutes
- Hospitals, Surgical Centers, & Clinics
Key Features of IoT Healthcare Market Report:
- IoT Healthcare Market structure: Overview, industry life cycle analysis, supply chain analysis
- IoT Healthcare Market: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- IoT Healthcare Market size, trend, and forecast analysis
- IoT Healthcare Market segments’ trend and forecast
- IoT Healthcare Market’s competitive landscapes: Market share, Product portfolio, new product launches, etc.
- IoT Healthcare Market attractiveness and associated growth opportunities
- Emerging Trends in the IoT Healthcare Market.
- Strategic growth opportunities for the existing and new players
- Key success factors
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