Internet of Things (IOT) in Healthcare Market Report, Industry Size, Share, Trends, Growth and Forecast 2023-2028

IMARC Group has recently released a new research study “Internet of things (IOT) in healthcare Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the Internet of things (IOT) in healthcare Industry?

The global Internet of things (IOT) in healthcare market size reached US$ 277.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 687.5 Billion by 2028, exhibiting a growth rate (CAGR) of 16.4% during 2023-2028.

what is internet of things (iot) in healthcare market?

Internet of things (IoT) represents an interconnected arrangement of devices linked to the internet and can gather and transmit data over a wireless network without any human intervention. It relies on artificial intelligence (AI) or machine learning (ML) technologies to evaluate information and offer organizations access to advanced analytics by gathering data on customer behaviour.

 IoT assists in making enhanced decisions, increasing security by monitoring digital and physical infrastructure for optimizing performance, improving efficiency, and reducing safety risks. As a result, this system finds widespread applications in the healthcare sector for research analysis, data collection, and monitoring of electronic health records across the global.

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what are the major market drivers in the internet of things (iot) in healthcare market

The escalating prevalence of chronic obstructive pulmonary disease (COPD), genetic and respiratory illnesses, arthritis, and cancer is among the primary factors driving the internet of things (IoT) in healthcare market. Besides this, the elevating demand for cost-effective treatment and enhanced disorder management across the globe is further augmenting the market growth.

In addition, the rising utilization of smart devices and wearables in self-health measurement among individuals is also catalyzing the global market.  Moreover, the inflating number of investments by the leading manufacturers in research and development (R&D) activities to integrate artificial intelligence (AI) with IoT for an improved patient experience are acting as significant growth-inducing factors.

Apart from this, the increasing awareness among the medical personnel toward the benefits of using these devices in the healthcare industry is also stimulating the market growth. Furthermore, the launch of several policies by the government bodies to promote the usage of electronic health records (EHR) is expected to bolster the internet of things (IoT) in healthcare market in the coming years. 

who are the key players/companies in the global internet of things (iot) in healthcare market?

Apple Inc., Cisco Systems Inc., Comarch SA, HQ Software, Intel Corporation, Koninklijke Philips N.V., Medtronic plc, Microsoft Corporation, Oracle Corporation, OSP Labs, Oxagile, Qualcomm Incorporated, Siemens AG and STANLEY Healthcare.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

  • Medical Devices
    • Wearable External Devices
    • Implanted Medical Devices
    • Stationary Medical Devices

System and Software

  • Remote Device Management
  • Network Bandwidth Management
  • Data Analytics
  • Application Security
  • Network Security

Services

  • System Integration Services
  • Consulting, Training and Education
  • Support and Maintenance Services

Breakup by Connectivity Technology:

  • Wi-Fi
  • Bluetooth Low Energy
  • ZigBee
  • Near Field Communication (NFC)
  • Cellular
  • Satellite

Breakup by Application:

  • Telemedicine
  • Medication Management
  • Clinical Operations
  • Inpatient Monitoring
  • Connected Imaging
  • Others

Breakup by End User:

  • Hospitals and Clinics
  • Clinical Research Organizations
  • Research and Diagnostic Laboratories
  • Others

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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