The Worldwide Biomedical and ICT Convergence Industry is Expected to Reach $73 Billion by 2027

DUBLIN, Dec. 12, 2022 /PRNewswire/ -- The "Biomedical and ICT Convergence Market by Technology, Solution and Region 2022 - 2027" report has been added to  ResearchAndMarkets.com's offering. 

This report evaluates the market for convergence between the Information and Communications Technology (ICT) industry and biomedical science and technologies. The report evaluates the latter and analyzes the former in terms of ICT innovation such as connected medical devices.

In addition to forecasts for IoT-connected healthcare devices (standalone, wearable, and implantable), the report also assesses the outlook from 2022 to 2027 for various biomedical products, services, and solutions poised to benefit from various IT and telecom technologies.

Select Report Findings:

• The biomedical ICT market is expected to reach $73 billion USD by 2027
• North America will lead the biomedical ICT market during the forecasted period
• The hardware technology will represent over 52% of the biomedical ICT market by 2027
• Diagnostic and research will be the prime application area within the biomedical ICT market
• Biomedical and ICT convergence is the foundation for the preponderance of biomedical technology

The field of biomedicine is concerned with the application of various natural science disciplines for the development of knowledge, interventions, and/or technologies for use in healthcare. The Information and Communications Technology (ICT) sector focuses on telecommunications, computing, and the integration of both.

The convergence of biomedical and ICT represents a high opportunity area for both healthcare and ICT industries. In addition to seeking cures to disease and ailment prevention, combined biomedical and ICT solutions will lead to improved treatment efficacy as well as overall improvements in healthcare service delivery efficiency and effectiveness.

With healthcare costs growing much faster than the general inflation rate, it is of the utmost importance to simultaneously seek improved treatment while continuously driving down business costs. These costs include ongoing operational expenditures as well as expensive R&D such as drug discovery and other pharmaceutical-related areas such as vaccine development that takes into account precision medicine practices.

Various ICT tools may be employed such as IoT-enabled monitoring to determine the effectiveness of medical procedures, which can be especially important when administering new and unproven healthcare modalities. One specific example is the administration of vaccines, which is believed to potentially cause harm to a subset of the population based on epigenetics, which is the study of changes in organisms caused by modification of gene expression rather than alteration of the genetic code itself.

This is believed to be an area in which a healthcare modality (in this example, vaccines) is designed with one intent (to inoculate one to prevent the onset of disease), but may actually trigger unintended consequences such as causing harm based on an individual's unique gene expression.

One of the fastest-growing areas for ICT in healthcare is the use of wireless access by IP-enabled, handheld digital devices. Wearables and implantable technology hold the promise of a level of monitoring and healthcare administration that is unprecedented in the history of health science. Ranging from treatment administration to clinical decision support, connected devices are a rapidly evolving tool for the advancement of healthcare practices.

These same tools may be used for both reactive and proactive medical modalities such as insulin modification and vaccine optimization respectively. The convergence of ICT and biomedicine is therefore anticipated to lead to both improved economics (lower costs and improved revenues through the identification of new healthcare treatments) as well as improve overall public health.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Biomedical and ICT Technologies and Solutions

3.1 Technology Analysis

3.1.1 Biomedical Diagnostics Devices

3.1.1.1 Electrochemical Test Strips

3.1.1.2 Integrated Cartridges

3.1.1.3 Lateral Flow Assays

3.1.1.4 Molecular Diagnostics

3.1.2 Bionanotechnology

3.1.3 Temperature Sensors

3.1.4 Refrigerators and Freezers

3.1.5 Metal Equipment

3.1.6 Software Technology and ICT Services

3.2 Biomedical and ICT Application Analysis

3.2.1 Diagnostics and Research Solution

3.2.2 Tissue Engineering and Regeneration

3.2.3 Fermentation

3.2.4 Cell Based Assay

3.2.5 PCR Technology

3.2.6 Chromatography

3.2.7 Additive Metal Solution

3.3 Cloning and Somatic Cell Nuclear Transfer

3.4 Industry Specific Uses

3.4.1 Medical, Pharmaceutical, and Health

3.4.2 Food and Agriculture

3.4.3 Natural Resources and Environment

3.4.4 Industrial Processing

3.4.5 Bioinformatics

3.5 Cloud Deployment and IT Infrastructure Management

4. Company Analysis

4.1 Abbott Laboratories

4.2 Amgen Inc.

4.3 Analog Devices

4.4 AstraZeneca

4.5 Biogen

4.6 Bio-Rad Laboratories

4.7 Biodirection

4.8 BioTelemetry

4.9 Carpenter Technology

4.10 Celgene Corporation

4.11 Dentsply Sirona

4.12 First Sensor

4.13 GE Healthcare

4.14 Gilead Sciences

4.15 Haier Biomedical

4.16 Helmer Scientific

4.17 Hoffman-La Roche Ltd.

4.18 Honeywell

4.19 Johnson & Johnson

4.20 Lonza Group

4.21 Medtronic

4.22 Merck & Co

4.23 Nonin Medical

4.24 Novartis AG

4.25 Novo Nordisk

4.26 NXP Semiconductor

4.27 Panasonic

4.28 Pfizer Inc.

4.29 Sanofi Aventis

4.30 Smiths Medical Inc.

4.31 STMicroelectronics

4.32 TE Connectivity

4.33 Texas Instruments

4.34 Thermo Fisher

4.35 Wright Medical Group

4.36 Zimmer Biomet

5. Biomedical ICT Market Analysis and Forecast 2022 - 2027

5.1 Global Biomedical ICT Market 2022 - 2027

5.1.1 Aggregate Market 2022 - 2027

5.1.2 Market by Technology 2022 - 2027

5.1.2.1 Market by Hardware 2022 - 2027

5.1.2.1.1 Market by Diagnostic Device 2022 - 2027

5.1.2.1.2 Market by Temperature Sensor 2022 - 2027

5.1.2.1.3 Market by Refrigerators and Freezers 2022 - 2027

5.1.2.1.4 Market by Metal Equipment 2022 - 2027

5.1.2.2 Market by Software 2022 - 2027

5.1.2.3 Market by Service 2022 - 2027

5.1.3 Market by Solution 2022 - 2027

5.1.3.1 Market by Diagnostics and Research Solution 2022 - 2027

5.1.3.2 Market by Biomedical Metal Solution 2022 - 2027

5.1.4 Market by Industry Vertical 2022 - 2027

5.1.5 Market by Cloud Deployment 2022 - 2027

5.2 Regional Biomedical ICT Market 2022 - 2027

5.2.1 Market by Region 2022 - 2027

5.2.2 North America Market Forecast 2022 - 2027

5.2.3 Europe Market Forecast 2022 - 2027

5.2.4 APAC Market Forecast 2022 - 2027

5.2.5 Latin America Market Forecast 2022 - 2027

5.2.6 Middle East and Africa Market Forecast 2022 - 2027

6. Conclusions and Recommendations

7. Appendix: Connected Medical Device Market Analysis and Forecasts

For more information about this report visit https://www.researchandmarkets.com/r/ptrkfw

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets