Overview:
Globally, the healthcare industry is at transition stage, where the rising competition level, changing business models, customer demands, increasing health concerns, and government rules & regulations have led the players to move towards the adoption of advanced technology in their business. On the other side, the consumers are also looking for easy & quality services, and flexible access to their health information anywhere and anytime.
Internet of Things (IoT) is transforming the healthcare industry by allowing patients, healthcare professionals, and value chain players to connect with each other at anytime and anywhere. IoT implementation in healthcare helps providers and payers to better understand health and wellness of individuals, helps in decision making, and improves productivity.
Market Analysis
Trends Market Research forecasts the “IoT in Healthcare” market to grow at a CAGR of 26.0% during the forecast period 2016–2022. The market is segmented into types, technology, services, applications, and regions. The increasing adoption of digital technologies, mobile based medical applications, rising adoption of healthcare connected devices (wearable devices), and connected hospital infrastructures are expected to drive the market in the upcoming years.
Segment Analysis
The applications covered in this report are telemedicine, electronic health record, clinical care, diagnostic management, drug management, cognitive assessment, artificial intelligence, and additive manufacturing. The rising usage of mobile applications to find providers, schedule appointments, view medical records from the consumers and video-based telemedicine has made the industry players to invest in IoT in healthcare applications market. The telemedicine application segment market is expected to reach $54.99 billion by 2022.
Region Analysis
The regions covered in the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is set to be the leading region for the market growth followed by Europe. Evolving healthcare IT landscape, changing customer lifestyle and income level, rising investment in healthcare organizations & government sector, encouragement for mHealth applications, and FDI inflow have made Asia Pacific to be the most attractive destination for key stakeholders. The Asia Pacific market is expected to reach $46.52 billion by 2022. Latin America and MEA are set to be the emerging regions for the market growth.
Key Players
Microsoft Corp., IBM Corp., Cisco System, SAP SE, Cerner Corp., GE Healthcare, Medtronic Inc., Philips, Stanley Healthcare, Airstrip Technologies, Vivify Health Inc., Proteus Digital Health Inc., AdhereTech Inc., Diabetizer Ltd. & Co. KG, Propeller, Health Sense Inc. and other predominate & niche players.
Completive Analysis
The organizations in the healthcare sector are focusing on expanding their offerings and scaling up by forging multiple partnerships with technology providers. They are also collaborating and developing new solutions to cater the market. Start-ups in the healthcare sector are truly revolutionary with smart systems such as adhere mechanisms to control drug usage and after-effects of the drugs in-taken. Big IoT players are acquiring small players to increase their footprints and coming up with new products in the market.
Key Benefits
The study covers and analyzes the “Worldwide IoT in Healthcare” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for key stakeholders to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps venture capitalists in understanding the companies better and take informed decisions.
- The report gives an opportunity to the players to improve their current business approach by providing strategic intelligence about the competition
- The report also provides the competitive landscape of the leading players specific to healthcare market that helps them to understand about their competitor’s landscape
- The report can also be tailored as per the specific info required by the users. The customization of the report is available on the basis of distribution channels, and vendor profiles
