Jun 01, 2020 (Market Insight Reports) -- Selbyville, Delaware According to Market Study Report, Has Added A New Report On Internet of Things (IoT) in Healthcare Market That Provides A Comprehensive Review Of This Industry With Respect To The Driving Forces Influencing The Market Size. Comprising The Current And Future Trends Defining The Dynamics Of This Industry Vertical, This Report Also Incorporates The Regional Landscape Of Internet of Things (IoT) in Healthcare Market In Tandem With Its Competitive Terrain.
According to a new study the global Internet of Things (IoT) in healthcare market size is anticipated to reach USD 477.9 billion by 2025.
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Internet of Things in healthcare integrates advance technology with medical devices to collect or exchange data, which can be used to create a well-organized healthcare system in terms of energy, time, and cost. Integration of IoT with medical devices helps to monitor patients more effectively. Data obtained from device assist physicians and healthcare providers to make decision regarding patients who require more care and attention. Moreover, IoT in healthcare helps in proactive management of disease by providing early diagnosis with accurate data.
One of the important components of IoT based healthcare management system is e-health. Among various other services, an online appointment service is the most common e-health service. Online appointment services allow easy as well as quick access to online healthcare record of patient along with online interaction of a physician. Moreover, these service tracks and monitors location of specialist and patients and alarms user before expiry of equipment.
Increasing prevalence of chronic disease such as cardiovascular disease, neurological and cancer ailments, increasing demand for cost-effective disease management, advancement in IoT technology, and implementation of favorable government regulatory policies are the some of the key factors driving growth of the global IoT in the healthcare market.
The global Internet of Things (IoT) in healthcare market size is segmented on the basis of component, technology, application, and end user. By component, the global Internet of Things (IoT) in healthcare market size is further segmented into system and software, medical devices, and services. The system and software segment is expected to witness highest growth during the forecast period. System and software segment is further segmented into network management, remote device management, data analytics, application and network security. The medical devices segment is further segmented into implantable, stationary, and wearable medical devices. The services segment by component is further segmented into three major categories including managed services, system integration & consulting services, and support & maintenance services.
By end user, the global IoT in healthcare market is further segmented into hospitals, clinics and surgical centers, clinical research organization, diagnostics and research labs, and defense and government institutes. Clinical Research Organization (CRO) segment is expected to register high growth during the forecast period. Increasing adoption of IoT in pharmaceutical and biotechnology industry for development of efficient healthcare infrastructure is expected to drive the growth of this segment in the global market.
The key players operating in global IoT healthcare market include Medtronic PLC, Royal Philips, Cisco Systems, Inc., IBM Corporation, GE Healthcare, Microsoft Corporation, SAP SE, Qualcomm Life, Inc., Koninklijke Philips N.V., Honeywell Life Care Solutions, and Stanley Healthcare among others. Major market players are focused on strategic partnership, innovative product launches to maintain their positions in IoT healthcare market.
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