Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) in Healthcare" report has been added to ResearchAndMarkets.com's offering.
This market report has been segmented by solution, application, connectivity, end user and region. The report provides an overview of the global IoT in healthcare market and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period, from 2021 to 2026.
The healthcare sector rapidly adopted various IoT solutions by creating the Internet of Medical Things (IoMT). Devices like heart monitors and pacemakers collect and send patient health statistics over various networks to healthcare providers for monitoring, analysis and remote configuration. Although many of these devices are being used in the industry, FDA approval has been a key hurdle for widespread adoption. Another hurdle is insurance, which plays a key role in the healthcare industry.
Some major factors driving investment into IoT include advanced and precise results, growing cloud-based infrastructure, and the availability of more cost-effective smart devices. However, market growth for IoT in healthcare is restrained by factors such as lack of funding and business model and data security and privacy issues.
In this report, the market has been segmented based on component, application, connectivity, end-user and geography. Based on component, the IoT in healthcare market has been categorized into medical devices, systems and software, services, and technology.
Service providers in the healthcare IoT market deliver customized and integrated programs that help companies generate consistent and improved business results and handle the entire life cycle of services. Integration of IoT medical devices involves several smart, connected devices that can be used to track patient health and alert physicians before any infection occurs.
The focus of IoT healthcare systems and networks is to minimize project delivery times and costs through device management and deployment, data security, data collection, and data analytics. Processes and software include remote device management, management of bandwidth use, data science, privacy applications and information security strategies.
The global IoT in healthcare market based on connectivity has been categorized into Wi-Fi, Bluetooth, Zigbee and other connectivity types. The Wi-Fi connectivity-type segment dominated the market in 2020. Some of the major connectivity types under the other connectivity-type segment include Loran and LTE-M. LTE-M is the wireless network of a cellular carrier, endorsed by the industry group GSMA and by the group of standards 3GPP.
It offers cell-tower, tracking-based location services without the need to use satellite-based systems like GPS or Galileo. This feature provides a significant cost reduction for OEMs that require devices to have a fundamental location system. Also, LoRa is a widely used connectivity choice for the deployment of IoT in large areas with many non-critical sensors and control devices.
Its use of unlicensed radio makes LoRa the best option for city-wide environmental sensors, streetlamp regulation and surveillance, simple agricultural field control units, and tracking of small objects. The fastest-growing connectivity type in the healthcare IoT market is Zigbee.
Revenue forecasts for this period are segmented based on solution, application, connectivity, end user and geography. Market values have been estimated based on the total revenue of IoT in healthcare solution providers. This report covers the market for IoT in healthcare with regards to applications in various end-use industries across different regions.
It also focuses on the major trends and challenges affecting the market and the vendor landscape. This report estimates the global market for IoT in healthcare in 2020 and provides projections on the expected market size through 2026.
Report Includes
- 70 data tables and 25 additional tables
- An up-to-date review and analysis of the global market for Internet of Things (IoT) in healthcare specific applications
- Analyses of the global market trends, with historic market revenue (sales data) for 2020 and 2021, estimates for 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026
- Highlights of the market potential for IoT in healthcare, and areas to forecast this market into various segments and sub-segments
- Evaluation and forecast the global IoT in healthcare market size, projected growth trends, and corresponding market share analysis by component, solution, device type, connectivity, application, end-user vertical, and geographic region
- Discussion on evolution and various applications of IoT solutions across different healthcare verticals, medical connected devices, and updated information on latest market developments
- Assessment of viable technology drivers through a holistic review of various healthcare specific applications for new and existing IoT technologies and cloud architecture
- Discussion of the industry value chain analysis providing a systematic study of the key intermediaries involved, along with a PESTEL analysis for IoT in healthcare
- In-depth information on increasing investments on R&D activities, key technology issues, industry specific challenges, major types of end-user markets, and COVID-19 implications on the progress of this market
- Analysis of patents granted for IoT in healthcare devices between 2018 to Mar 2022 across each major category
- Descriptive company profiles of the leading global players, including Cisco Systems Inc., IBM Corp., GE Healthcare, Medtronic plc, Koninklijke Philips N.V, and Siemens Healthcare
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value (USD) in 2021 | $99.8 Billion |
| Forecasted Market Value (USD) by 2026 | $253.7 Billion |
| Compound Annual Growth Rate | 20.5% |
| Regions Covered | Global |
IoT in Healthcare Market Overview
Market Drivers
- Advanced, Precise Result
- Iot for Elder Care
- Improving Cloud Infrastructure in Healthcare
- Increasing Demand for Smart Devices in Healthcare
Market Restraints
- Funding and Lack of Business Model
- Growing Vulnerability of Device and Data Security
Market Opportunities
- Government Initiatives Promoting Digital Health
- Emergence of Tele-Health
Applications of IoT in Healthcare
- Ecg Monitoring
- Temperature Monitoring
- Blood Glucose (Bg) Monitoring
- Asthma Monitoring
- Mood Monitoring
- Oxygen Saturation Monitoring
- Rehabilitation Systems
- Wheelchair Management
- Medication Adherence
- Drug Management
- Chronic Disease Management
- Smartphone Solutions
- Trends in Healthcare IoT Market
- Electronic Health Record (Her) Systems for Multi-Specialty Applications
- Patient Portal and Self-Service Software
- Blockchain Technologies
- Enterprise Software Design
- Advanced Analytics
- Healthcare Emerging Technologies
- Cloud Computing
- Grid Computing
- Big Data and Related Networks
- Augmented Reality
Company Profiles
- Abbott Laboratories
- Adheretech
- Agamatrix Inc.
- Armis, Inc.
- Biotronik Se & Co. Kg
- Boston Scientific Corp.
- Capsule Technologies, Inc.
- Cisco Systems, Inc.
- Ge Healthcare
- Intel Corp.
- Irhythm Technologies
- International Business Machines Corp. (Ibm)
- Johnson & Johnson Services Inc.
- Koninklijke Philips N.V.
- Medtronic plc
- Microsoft Corp.
- Omron Healthcare Inc.
- Resideo Technologies, Inc.
- Sap Se
- Stanley Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/w4s40z
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