IoT Healthcare Market 2018-2024: Top Manufactures, Market Size, Applications

Posted by Yash Chauhan on February 28th, 2019

The global IoT healthcare market is growing at a significant rate, due to escalating investment for healthcare IoT solutions, and mounting access of connected devices in healthcare.

On the basis of the component, the market is subdivided into medical devices, services, and systems and software. Of all components, systems and software segment is expected to grow at the fastest rate in the market due to an elevated degree of data security and autonomy.

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On the basis of application, the market is subdivided into telemedicine, inpatient monitoring, clinical operations and workflow management, medication management, connected imaging, and others. The augmented efficiency of processes and convenience for patients in order to reduce the length of hospital stays is the factor responsible for the growth of the telemedicine.

The different end users of the market are hospitals, surgical centers, and clinics, government and defense institutions, clinical research organization (CRO), and research and diagnostics laboratories. Among all end users, the hospitals, surgical centers, and clinics accounted the largest share in the IoT healthcare market.

North America is the largest IoT healthcare market as in the region the healthcare spending is increased.

Asia-Pacific is observed to witness the fastest growth in the market, due to an upsurge in a number of hospitals and surgical centers. In addition, the upsurge in the requirement for cloud-based solutions is also creating a positive impact on the IoT healthcare market growth in the region.

Key players in the IoT healthcare market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe.

Medtronic Plc, Microsoft Corporation, Honeywell Life Care Solutions, Koninklijke Philips N.V., General Electric Company, SAP SE, Cisco Systems, Inc., Qualcomm Incorporated, International Business Machine Corporation (IBM), and Stanley Black & Decker Inc. are the key players offering IoT healthcare.

Source: VynZ Research