IoT Healthcare Market Definition
Internet of Things in healthcare integrates advanced technology with medical devices to collect data, which can be used to generate a well-organized healthcare system in terms of energy, time, and cost. IoT in Healthcare solutions and services are replacing the tradition diagnosis and treatment procedures with advanced technology. Integration of IoT with medical devices helps to monitor patients more effectively.
The market study is broken down, by Application (Telemedicine, Work Flow Management, Connected Imaging and Medication Management) and major geographies with country level splits.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global IoT Healthcare market throughout the predicted period.
Medtronic (Ireland), Philips (Netherlands), Cisco Systems (United States), IBM Corporation (United States), Microsoft Corporation (United States) , SAP SE (Germany), Stanley Healthcare (United States), GE Healthcare (United States) and HealthSaaS, Inc (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global IoT Healthcare market by Type, Application and Region.
On the basis of geography, the market of IoT Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Component, the sub-segment i.e. System and Software will boost the IoT Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by By End-User, the sub-segment i.e. Hospitals will boost the IoT Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In March 2017, Medtronic launched Reveal LINQ Insertable Cardiac Monitor (ICM) with TruRhythm Detection, an advanced cardiac monitor with high accuracy to efficiently identify abnormal heartbeats. The device communicates wirelessly with a patient’s bedside monitor, which uploads device data to the Medtronic CareLink network. This helped the company to offer highest quality products and services to deliver clinical and economic value to its consumers.
- Growing Adoption of Healthcare Information Systems
- Evolution of Artificial Intelligence Technology
- Rise in Investment in Healthcare Industry
- Rise in Geriatric Population with Multiple Chronic and Other Diseases
- High Demand from Healthcare for Managing Operational Workflows and Clinical Tasks
- Increasing Demand from Emerging Countries
- Increasing Adoption of IoT in the Pharmaceutical and Biotechnology Industry
- Lack of Capability in Installing IoT Solutions
- Increased Interoperability Risks Hospital Security
Key Target AudienceIT Service Providers and Distributors, Value-added Resellers, IoT Service Providers, System Integrators, IOT Healthcare Solution Vendors and Hospitals, Surgical Centers, and Clinics
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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