Global IoT Healthcare Market is Estimated to Reach US$ 14668.59 Mn by 2022, Due to Increasing Use of Telemedicines by Patients

IoT Healthcare Market by Component, Services {Professional Services, System Integration Services, Maintenance & Support Services}, Systems and Software {Data Analytics, Remote Devices Management, Network Bandwidth Management, Network Security, Application Security,}); IoT Healthcare Market by Application Type (Connected Imaging, Medication Management, Inpatient Monitoring, Others); by Regions

Absolute Markets Insights offers its latest published report ‘IoT Healthcare Market by Component (Medical Devices {Implanted Medical Devices, Wearable External Medical Devices, Stationary Medical Devices}, Services {Professional Services, System Integration Services, Maintenance & Support Services}, Systems and Softwares {Data Analytics, Remote Devices Management, Network Bandwidth Management, Network Security, Application Security,}); by Application Type (Clinical Operations and Workflow Management, Telemedicine {Remote Patient Monitoring, Store & Forward Telemedicine, Interactive Telemedicine}, Connected Imaging, Medication Management, Inpatient Monitoring, Others); by Connectivity Technology (Wi-Fi, Bluetooth Low Energy (BLE), Zigbee, Near Field Communication (NFC), Cellular, Satellite); by End User (Clinical Research Organization (CRO), Government and Defense Institutions, Hospitals, Surgical Centers, and Clinics, Research and Diagnostics Laboratories); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 - 2026’. The author of the report analyzed that the Global IoT Healthcare Market accounted for US$ 8232.18 million in 2017. A number of IoT cloud providers are currently entering into the market to provide suitable and specific IoT based services.

There have been cases where IoT has been successfully implemented in remote monitoring of diabetes and asthma patients, coupled with high penetration of fitness and wellness devices. This has created strong demand for the IoT in the healthcare industry.

The validity and reliability of wearable devices are not always proven, especially in the case of fitness and lifestyle markets. Devices are marketed under the promise that they will help improve general health and fitness, but the majority of the manufacturers provide no empirical evidence to support the effectiveness of their products. Also, many of the wearable IoT devices are not cleared by the Food and Drug Administration (FDA). Owing to all such reasons, the government has imposed strict rules and regulations for the sale and manufacture of IoT healthcare devices. This is preventing the IoT Healthcare Market from growing.

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Many small to midsize businesses (SMBs) are evolving. They are demanding a technology that will help them operate more proficiently and save money. With IoT, small and medium-sized businesses will have exceptional access to new technologies, new markets, suppliers as well as customers. So, many of them are trying to incorporate IoT in their business.

The Telemedicine Segment of The IoT Healthcare Market Is Expanding at Greater Pace During the Forecast Period.

The use of telemedicine for patient monitoring even when the patient is outside hospital premises is growing rapidly. Many patients have chats and video calls with their doctors for primary care rather that physically visiting hospitals or clinics. This is causing the segment to grow rapidly. Telemedicine can be beneficial to patients in isolated communities and remote regions, who can receive care from doctors or specialists far away without the patient having to travel to visit them. Recent developments in mobile collaboration technology can allow healthcare professionals in multiple locations to share information and discuss patient issues as if they were in the same place.

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North America is Dominating IoT Healthcare Market as Many Companies Are Opening Up Their Offices in The Region.

Many companies have been set up in North America. Even many foreign companies are opening up their centers or distribution sites in the region. For Instance, Breathometer, Inc., a California based company launched Mint, a breathometer device that works with smartphone to help understand and improve oral health. Also, Backbone Labs, Inc. founded in 2016 uses the technology of IoT to correct the postures of users. The company is also headquartered in California. Due to the increasing number of big and small healthcare centers, cloud service providers and wellness groups, the region is dominating the market.

Market is Fragmented with the Presence of Small and Large Companies
Some of the key participants in the global IoT healthcare market are Cerner Corporation, Diabetizer Ltd. & Co. KG, Infosys Limited, Medtronic Public Limited Company, Microsoft, PhysIQ, Proteus Digital Health, Qualcomm Life, Inc., SAP SE, STANLEY Healthcare Information Solution Ltd, IBM, Philips, AdhereTech Inc., Aeris, Apple Inc., Castlight Health, Cisco Systems Inc. amongst others.

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IoT Healthcare Market – By Component
o Medical Devices
 Implanted Medical Devices
 Wearable External Medical Devices
 Stationary Medical Devices

o Services
 Professional Services
 System Integration Services
 Maintenance & Support Services

o Systems and Softwares
 Data Analytics
 Remote Devices Management
 Network Bandwidth Management
 Network Security
 Application Security

• IoT Healthcare Market – By Application Type
o Clinical Operations and Workflow Management

o Telemedicine
 Remote Patient Monitoring
 Store & Forward Telemedicine
 Interactive Telemedicine
o Connected Imaging
o Medication Management
o Inpatient Monitoring
o Others
• IoT Healthcare Market – By Connectivity Technology
o Wi-Fi
o Bluetooth Low Energy (BLE)
o Zigbee
o Near Field Communication (NFC)
o Cellular
o Satellite
• Market By End User
o Clinical Research Organization (CRO)
o Government and Defense Institutions
o Hospitals, Surgical Centers, and Clinics
o Research and Diagnostics Laboratories

• Market By Region
o North America
 U.S.
 Rest of North America
o Europe
 France
 The UK
 Spain
 Germany
 Italy
 Rest of Europe
o Asia Pacific
 China
 Japan
 India
 Southeast Asia
 Rest of Asia Pacific
o Middle East and Africa
 GCC Countries
 Southern Africa
 Rest of Middle East and Africa
o Latin America
 Brazil
 Rest of Latin America

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