Global IoT in Healthcare Market Overview:
The internet of things (IoT) has several applications in healthcare, from remote monitoring to smart sensors and medical device integration. Healthcare IoT has the potential to not only keep patients safe and healthy but to improve how physicians deliver care as well. Healthcare IoT can also boost patient engagement and satisfaction by allowing patients to spend more time interacting with their doctors. There are numerous benefits associated with the IoT in healthcare such as cut down on the medical costs improved patient experience, enhanced manageability of medical drugs and medicinal adherence, a dramatic reduction in errors, better control over wastage in the healthcare sector, and better outcomes of medical treatments. Owing to the occurrence of the blockchain, the revolution of healthcare IoT is already on its way. Some of the players profiled in the study are Medtronic (United States), Royal Philips (Netherland), Cisco Systems, Inc. (United States), IBM (United States), GE Healthcare (United States), Microsoft (United States), SAP SE (Germany), Qualcomm Life (United States), Honeywell Life Care Solutions (United States) and Stanley Healthcare (United States).
On the basis of geography, the market of IoT in 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). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Component, the sub-segment i.e. Medical Devices will boost the IoT in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End user, the sub-segment i.e. Hospitals, Surgical Centers, and Clinics will boost the IoT in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Implementation of IoT Solutions for Reduced Cost of Care
- Evolution of Artificial Intelligence Technology
- Rise in Investment for Healthcare IoT Solutions
- Increasing Penetration of Connected Devices in Healthcare
- Lack of Competence in Deploying IoT Solutions
- Lack of Governance Standards
- Rising Adoption of Telepresence Technology
- Growth Potential in Emerging Economies
- Increased Interoperability Risks Hospital Security
Key Market Developments:
On 12 Sept. 2018, Royal Philips, a global front-runner in health technology, and Integron, a leading supplier of managed IoT services for connected health, have announced a collaboration that brings together the Philips HealthSuite Digital Platform with Integronís strong solution deployment services. This joint offering will permit healthcare providers to deploy and build connected health solutions aimed at helping to improve patient outcomes whilst reducing costs. and On 10 April 2018, C3 IoT and Microsoft Corp. have declared a strategic partnership to offer new technology developments and go-to-market initiatives that will accelerate enterprise Artificial Intelligence (AI) and IoT application development.
On 15 Feb. 2018, STANLEY Healthcare, a market leading provider of visibility and analytics solutions for the healthcare industry, has announced a new cloud-based solution for monitoring conditions in the environment of care. The STANLEY Healthcare AeroScout Links IoT platform integrates smart sensors over a cloud-based network to enable small hospitals, outpatient service providers, pharmacies and other organizations to easily regulate cold storage as well as other aspects of their procedures that must be maintained at specific conditions for safe patient care.
IT service providers and distributers, IoT service providers, System integrators, Value-added resellers, IOT healthcare solution vendors and Hospitals, surgical centers, and clinics
Major Objectives Focused through this Study
To define, describe, and forecast the Global IoT in Healthcare market on the basis of product  , application [Telemedicine, Clinical operations and workflow management, Connected Imaging, Inpatient Monitoring, Medication Management and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the IoT in Healthcare market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the IoT in Healthcare industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Diabetizer GmbH & Co. Kg (Germany), Proteus Digital Health (United States), Adheretech (United States), Cerner (United States) and Physiq (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the IoT in Healthcare market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.