The IoT in healthcare market size is projected to grow from USD 55.5 billion in 2019 to USD 188 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 27.6% during the forecast period.
The IoT in healthcare market is driven by factors, such as advancement in technology coupled with rising demand for self-health management service and rise of digitalization and increase in the overall level of connectivity and innovations taking place in the modern healthcare ecosystem. However, lack of skilled digital workforce, and challenge for organizations due to security concerns related to the violation of crucial patient information are expected to retrict thre growth of the IoT in healthcare market.
Systems and Software segment to grow at the highest CAGR during the forecast period
The IoT in healthcare market by component is segmented into medical devices, systems and software, services, and connectivity technology. The systems and software segment is expected to grow at a rapid pace during the forecast period. Systems and software are the most promising components in the IoT in healthcare market as they create a high degree of smart characteristics and autonomy in the IoT ecosystem. They are designed to meet interoperability challenges that occur due to varied heterogeneous devices, along with managing large volumes of data and offering them security and privacy.
Hospitals, surgical centers, and clinics segment to hold the largest market size during 2019
The IoT in healthcare market by end user has been segmented into hospitals, surgical centers, and clinics; clinical research organizations; government and defense institutions; and research and diagnostic laboratories. IoT solutions in the healthcare sector are majorly catered by this segment that consists of hospitals, surgical centers, and clinics, as they are the most approached care centers by patients.
APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Factors, such as flexible economic conditions, industrialization- and globalization-motivated policies of the governments, as well as expanding digitalization, would support the growth of the IoT in healthcare market in the region.
The market study covers the IoT in healthcare market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as component, application, end user, and region. The study further includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The report includes the study of key players offering IoT in healthcare solutions and services. It profiles major vendors in the global IoT in healthcare market. Major vendors in the IoT in healthcare market are Agamatrix (US), Armis (US), Capsule Technologies (US), Comarch SA (Poland), Cisco Systems (US), GE Healthcare (US), IBM Corporation (US), Intel (US), KORE Wireless (US), Medtronic (Ireland), Microsoft Corporation (US), OSP Labs (US), Resideo Technologies (US), Royal Philips (Netherlands), SAP SE (Germany), Sciencesoft (US), Softweb Solutions (US), STANLEY Healthcare (US), Telit (UK), and Welch Allyn (US). It further includes an in-depth competitive analysis of key players in the IoT in healthcare market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the IoT in Healthcare Market 4.2 Market, By Component and Region, 2019 4.3 Market, Top 2 Components, 2019-2024 4.4 Market, By Region, 2019 Vs. 2024 4.5 Regional Market Potential
5 Market Overview and Industry Trends 5.1 Market Overview 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Rising Focus on Active Patient Engagement and Patient-Centric Care 22.214.171.124 Growing Need for the Adoption of Cost Control Measures in Healthcare 126.96.36.199 Growth and Increased Adoption of High-Speed Network Technologies for IoT Connectivity 188.8.131.52 Evolution of Complementing Technologies, Such as Artificial Intelligence and Big Data 184.108.40.206 Need for Healthcare in Remote Locations 5.2.2 Restraints 220.127.116.11 Outdated Infrastructure Hindering the Digital Growth of the Medical Industry 18.104.22.168 Internet Disruptions Leading to Rugged IoT Device Performance 5.2.3 Opportunities 22.214.171.124 Low Doctor-To-Patient Ratio Leading to Increased Dependency on Self-Operated Ehealth Platforms 126.96.36.199 Government Initiatives for Promoting Digital Health 5.2.4 Challenges 188.8.131.52 Increase in Attack Surfaces With a Rise in IoT Devices Due to Data Security Constrictions 184.108.40.206 Integration of Multiple Devices and Protocols Leading to Data Overload and Accuracy 220.127.116.11 Cost of the Technology 5.3 Use Cases 5.3.1 Use Case 1: Connected Healthcare 5.3.2 Use Case 2: Asset Tracking 5.3.3 Use Case 3: Remote Patient Monitoring 5.4 Industry Trends 5.4.1 Evolution 5.4.2 Regulatory Implications 18.104.22.168 ISO Standards - ISO 27799:2008 and ISO/TR 27809:2007 22.214.171.124 Internet of Medical Things Resilience Partnership Act (2017) 126.96.36.199 Health Insurance Portability and Accountability Act 188.8.131.52 HIPAA Privacy Rule 184.108.40.206 HIPAA Security Rule 220.127.116.11 CEN ISO/IEEE 11073 18.104.22.168 CEN/Cenelec
6 IoT in Healthcare Market, By Component 6.1 Introduction 6.2 Medical Devices 6.2.1 Stationary Medical Devices 6.2.2 Implanted Medical Devices 6.2.3 Wearable External Medical Devices 6.3 Systems and Software 6.3.1 Remote Device Management 6.3.2 Network Bandwidth Management 6.3.3 Data Analytics 6.3.4 Application Security 6.3.5 Network Security 6.4 Services 6.4.1 Deployment and Integration 6.4.2 Consulting 6.4.3 Support and Maintenance
8 Market, By Connectivity Technology 8.1 Introduction 8.2 Wi-Fi 8.3 Bluetooth Low Energy 8.4 Zigbee 8.5 Near Field Communication 8.6 Cellular 8.7 Satellite
9 IoT in Healthcare Market, By End User 9.1 Introduction 9.2 Hospitals, Surgical Centers, and Clinics 9.3 Clinical Research Organizations 9.4 Government and Defense Institutions 9.5 Research and Diagnostic Laboratories
10 Market, By Region 10.1 Introduction 10.2 North America 10.3 Europe 10.4 Asia Pacific 10.5 Middle East and Africa 10.6 Latin America
11 Competitive Landscape 11.1 Introduction 11.1.1 New Product Launches and Product Enhancements 11.1.2 Agreements and Partnerships 11.2 Market Ranking of Key Players
12 Company Profiles 12.1 Introduction 12.2 Cisco 12.3 IBM 12.4 GE Healthcare 12.5 Microsoft 12.6 SAP 12.7 Medtronic 12.8 Royal Philips 12.9 Resideo Technologies 12.10 Capsule Technologies 12.11 STANLEY Healthcare 12.12 Armis 12.13 Softweb Solutions 12.14 OSP Labs 12.15 Commarch S.A. 12.16 Telit 12.17 KORE Wireless 12.18 Sciencesoft 12.19 Intel 12.20 Agamatrix 12.21 Welch Allyn
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