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Growing demand for better disease management by the execution of IoT technology is expected to fuel the growth of the IoT healthcare market
According to the World Health Organization (WHO), around 1.6 million deaths in 2015 were directly caused by diabetes and will increase by more than 50% before the age of 70 years by 2030. Moreover, according to the Centers of Disease Control and Prevention, 2017, in every 1 in 13 people is suffering from asthma and approximately 25 million Americans is suffering from asthma. The data represent the increasing prevalence of chronic diseases and growing demand for better disease management and cost-effective treatment, which is expected to accelerate the growth of the IoT healthcare market.
Increasing accessibility of internet and execution of government regulatory policies to make IoT nation in different platform will favor the growth of IoT healthcare market. For instance, in 2017, Brazilian government launched, Internet of Things: an Action Plan for Brazil strategy to enhance their economy and development in four different areas. It includes, healthcare, agribusiness, smart cities and manufacturing and will implement in between 2018 to 2022. Thus, this implementation may help to gain growth of the IoT healthcare market in near future.
Key players in IoT healthcare market include, Medtronic Plc, Royal Philips, Cisco Systems Inc., IBM Corporation, GE Healthcare, Microsoft Corporation, SAP SE, Qualcomm Life, Inc., Honeywell Life Care Solutions, and Stanley Healthcare.
Global IoT Healthcare Market Taxonomy:
On the basis of type of component, application and end-user, global IoT healthcare market is segmented into,
◦ Implantable Sensor Devices
◦ Wearable Sensor Devices
◦ Others Sensor Devices
• System and Software
◦ Network Layer
◦ Database Layer
◦ Analytics Layer
◦ Architecture (System integration)
◦ Application Development (support and maintenance)
• Patient Monitoring
• Drug Development
• Clinical Imaging
• Clinical Operation and Workflow Optimization
• Fitness and Wellness Measurement
• Healthcare Providers
• Healthcare Payers
• Research Laboratories
• Government Authority
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