Product Code: RP-ID-10352106 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10352106
Market Overview:
Global IOT Healthcare Market Analysis & Outlook 2030
​​The value of the global Internet of Things in the healthcare market in 2021 is estimated at USD 125 billion and is expected to expand at a compound annual growth rate of 12% between 2022 and 2030. In addition, in the field of healthcare, the Internet of Things is used for data collection, research and analysis, and monitoring of electronic medical records, which contain personally identifiable information, protected health information, and other machine-generated healthcare data. In addition, IoT applications in healthcare facilitate important tasks such as improving patient prognosis and provide some relief for healthcare professionals.
Devices that support the Internet of Things (IoT) enable remote monitoring in the healthcare sector, unleash the potential to keep patients safe and healthy, and enable doctors to provide first-class care. In addition, from 2022-2030, the growth of IoT healthcare applications is expected to accelerate, because IoT is a key component of the digital transformation of the healthcare industry, and various stakeholders are stepping up their efforts in this area. The willingness of vendors to implement IoT solutions to help diagnose viruses using the Internet of Things has changed. In addition, many IoT technologies are playing an increasingly important role in helping the authorities treat infected people while preventing the further spread of COVID-19.
The Internet of Things, especially when combined with other transformative technologies such as cloud and artificial intelligence (AI). During this crisis, this led to a wide range of IoT applications in the healthcare sector. For example, according to the World Health Organization, in 2020, patients and staff in a field hospital in Wuhan, China, wore bracelets and rings synchronized with AI. CloudMinds is a Beijing-based intelligent robot cloud system operator. This platform can continuously monitor vital signs during the Covid-19 pandemic, including body temperature, heart rate, and blood oxygen levels.
In addition, in India, a mobile application called aarogya setu, launched by the Indian Ministry of Health on April 2, 2020, can help users determine if they are at risk of contracting COVID-19. As a result, Covid-19 has increased the demand for the Internet of Things in the healthcare market and provided opportunities for manufacturers of various applications in the healthcare sector during the forecast period. The main factors that promote the growth of the Internet of Things in the healthcare market. Including the increase in the incidence of chronic diseases (such as chronic obstructive pulmonary disease, genetic diseases, respiratory diseases, etc.) due to technological progress, better access to high-speed Internet, and the implementation of favorable governments Regulatory policy.
In addition, there is a growing demand for cost-effective treatments and disease management, the increasing adoption of smart and wearable devices, increased interest in self-health measurement, and the use of advanced and cost-effective Internet of Things in care products and Reduce medical costs in the solution. In addition, the growing interest of emerging companies in the IoT healthcare industry (such as MedAngelONE, Amiko, SWORD Health, and Aira) is expected to drive market growth. However, factors such as high costs associated with developing IoT infrastructure, data security and privacy issues, lack of public awareness in developing regions, and limited technical knowledge are expected to hinder market growth. Factors such as government initiatives to support IoT platforms, improvements in medical infrastructure in developing countries, and high R&D expenditures are expected to drive market growth.
Global medical IoT market segmentation:
This report segments the medical IoT market based on components, applications, end users, and regions. Based on components, the market is segmented into equipment, systems, software, and services. The device market segment is further subdivided into implantable sensor devices, wearable sensor devices and other sensor devices. The system and software are further divided into network layer, database layer and analysis layer. In addition, the service department also includes architecture, consulting and application development services.
Depending on the application, the market can be subdivided into patient monitoring, clinical operation and workflow optimization, connected imaging, health and wellness measurement, and drug development. According to end users, the global IoT in the healthcare market is subdivided into healthcare providers, patients, healthcare payers, research laboratories of pharmaceutical and biotech companies, and government authorities. The markets in four regions were analyzed, namely North America, Europe, Asia Pacific and LAMEA. Market segmentation: According to components, the market is divided into equipment, systems and software, and services. In addition, the service sector accounted for the majority of the healthcare IoT market in 2020 due to the increasing demand for uninterrupted data streams that can improve the efficiency of medical systems, improve security, and make smart decisions in real time.
Decision-making:
The key factor to promote the service sector. However, due to advances in wearable sensor devices, implantable sensor devices and other fixed devices, the device segment is expected to become the fastest growing segment of the global IoT in the healthcare market during the forecast period. Among these devices, wearable devices are the fastest growing device market. This is due to increased awareness of the use of wearable devices, increasing trends in self-monitoring, and analysis of health data. In addition, portable medical devices can also help measure blood pressure, cholesterol, blood sugar and other information, thereby driving the growth of the device market during the forecast period.
Main benefits for stakeholders:
This report involves detailed quantitative analysis and current global healthcare IoT market trends from 2022-2030 to identify major opportunities and strategic assessments. From 2022-2030. The medical IoT market size and estimates are based on a comprehensive analysis of key developments in the industry. Qualitative analysis based on innovative products helps strategic business planning. Including the development strategies adopted by major market participants to understand the competitive landscape of the market.
Main market segments:
Device by component, implantable sensor device, wearable sensor device, other sensor device system and software network layer database layer data layer analysis service architecture (system Integration) Consulting application development (support and maintenance) Patient monitoring through the application CLI Unique operation and workflow optimization clinical imaging health and health measurement drug development through end-user care provider medical patient healthcare payer research laboratory (biotechnology /Pharmaceutical) government agencies.
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