IoT in Healthcare Market to Reach USD 787.17 Billion by 2030, Driven by Growing Demand for Chronic Disease Management and Healthcare IT Integration
PUNE, India, Oct. 12, 2023 /PRNewswire/ -- Infinium Global Research has recently released a report on the IoT in Healthcare Market. This report offers an in-depth analysis of both global and regional segments and sub-segments within the IoT in healthcare market. It also examines the impact of drivers, restraints, and macro indicators on the market's short-term and long-term prospects.
Furthermore, the report provides a comprehensive presentation of the market's trends, forecasts, and monetary values. Notably, the IoT in healthcare market generated USD 227.33 billion in revenue in 2022, and it is anticipated to achieve a substantial growth trajectory, reaching USD 787.17 billion by 2030. This remarkable growth is expected to be driven by a robust compound annual growth rate (CAGR) of 14.70% during the forecast period from 2023 to 2030.
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Growing Demand for Technological Advancements in the Healthcare Sector are Poised to Create Numerous Opportunities
The rising prevalence of chronic diseases, including diabetes, heart conditions, and respiratory ailments among middle-aged and elderly populations, has spurred the demand for IoT devices in healthcare. These devices, such as smart wearables, pulse-oximeters, electrocardiograms, thermometers, fluid level sensors, and sphygmomanometers, enable real-time monitoring of vital signs, medication adherence, and patient behaviors. As a result, the demand for IoT technology in healthcare is on the rise, driven by the necessity for improved chronic disease management.
Furthermore, the integration of Information Technology (IT) within healthcare systems, including electronic health records and telemedicine, is fueling the demand for IoT applications in healthcare. IoT solutions, from remote patient monitoring to smart medical devices, streamline healthcare delivery, enhance patient outcomes, and reduce costs. This synergy between IT and IoT is transforming the healthcare industry, making it more accessible, efficient, and patient-centric.
However, one of the significant challenges posed by IoT in healthcare is data security and privacy. While IoT security devices capture and transmit data in real time, many lack adequate data protocols and security requirements. This issue is expected to hamper market growth. Nevertheless, ongoing improvements in healthcare infrastructure, increased investments in research and development, and the growing demand for technological advancements in the healthcare sector are poised to create numerous opportunities for IoT in the healthcare market in the coming years.
North America Dominates the Market with a Strong Emphasis on Healthcare Innovation
North America commands the leading market share in the IoT in the healthcare sector, driven by several factors. The region boasts a highly developed healthcare infrastructure, a tech-savvy consumer base, and a strong focus on healthcare innovation. The presence of major IoT and technology companies like GE Healthcare and Medtronic in North America contributes to the rapid adoption and development of healthcare IoT solutions. Additionally, favorable government policies, substantial investments, and increasing awareness of the benefits of IoT in healthcare are propelling market growth. North America's commitment to addressing healthcare challenges through technology solidifies its position as a dominant force in the global IoT in the healthcare market.
Asia-Pacific Emerges as the Fastest-Growing Region
Asia-Pacific emerges as the fastest-growing region in the IoT in healthcare market. The region's healthcare industry witnesses strong growth due to the increasing demand for cloud-based management systems. Furthermore, the presence of numerous hospitals, surgical centers, and expanding healthcare infrastructure is expected to further boost market growth in the Asia-Pacific region.
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Segmentation Overview
The report on the global IoT in healthcare market covers various segments, including technology, application, and end-user categories:
Technology:
- Wi-Fi
- NFC (Near Field Communication)
- Zigbee
- Bluetooth
- Others
Application:
- Clinical Operations
- Telemedicine
- Workflow Management
- Connected Imaging
- Inpatient Monitoring
- Medication Management
- Others
End User:
- Hospitals
- Surgical Centers and Clinics
- Clinical Research Organizations (CROs)
- Government
- Defense Institutions
- Research and Diagnostics Laboratories
Competitive Landscape
The report provides profiles of the companies in the market such as Medtronic, Cisco Systems, Inc., IBM Corporation, GE HealthCare, Honeywell Life Care Solutions (acquired by Clear Arch Health), Royal Philips, Microsoft Corporation, SAP SE, Francisco Partners (acquired Qualcomm Life), and STANLEY Healthcare (acquired by Securitas Healthcare).
The IoT in healthcare market continues to evolve and innovate, offering a wide range of applications and solutions that promise to revolutionize the healthcare industry. With the market projected to reach new heights by 2030, stakeholders across the healthcare ecosystem are gearing up to harness the potential of IoT technologies to improve patient care and outcomes.
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. IoT in Healthcare Market Highlights
2.2. IoT in Healthcare Market Projection
2.3. IoT in Healthcare Market Regional Highlights
Chapter 3. Global IoT in Healthcare Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter`s Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Technology
3.4.2. IGR-Growth Matrix Analysis by Application
3.4.3. IGR-Growth Matrix Analysis by End User
3.4.4. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of IoT in Healthcare Market
Chapter 4. IoT in Healthcare Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global IoT in Healthcare Market
5.2. Companies Profiles
5.2.1. Medtronic
5.2.2. Cisco Systems, Inc.
5.2.3. IBM Corporation
5.2.4. GE HealthCare
5.2.5. Honeywell Life Care Solutions (acquired by Clear Arch Health)
5.2.6. Royal Philips
5.2.7. Microsoft Corporation
5.2.8. SAP SE
5.2.9. Francisco Partners (acquired Qualcomm Life)
5.2.10. STANLEY Healthcare (acquired by Securitas Healthcare)
Chapter 6. Global IoT in Healthcare Market by Technology
6.1. WI-FI
6.2. NFC
6.3. ZigBee
6.4. Bluetooth
6.5. Others
Chapter 7. Global IoT in Healthcare Market by Application
7.1. Clinical Operations
7.2. Telemedicine
7.3. Workflow Management
7.4. Connected Imaging
7.5. Inpatient Monitoring
7.6. Medication Management
7.7. Others
Chapter 8. Global IoT in Healthcare Market by End User
8.1. Hospitals
8.2. Surgical Centers and Clinics
8.3. Clinical Research Organization (CRO)
8.4. Government
8.5. Defense Institutions
8.6. Research and Diagnostics Laboratories
Chapter 9. Global IoT in Healthcare Market by Region 2023-2030
9.1. North America
9.1.1. North America IoT in Healthcare Market by Technology
9.1.2. North America IoT in Healthcare Market by Application
9.1.3. North America IoT in Healthcare Market by End User
9.1.4. North America IoT in Healthcare Market by Country
9.1.4.1. The U.S. IoT in Healthcare Market
9.1.4.1.1. The U.S. IoT in Healthcare Market by Technology
9.1.4.1.2. The U.S. IoT in Healthcare Market by Application
9.1.4.1.3. The U.S. IoT in Healthcare Market by End User
9.1.4.2. Canada IoT in Healthcare Market
9.1.4.2.1. Canada IoT in Healthcare Market by Technology
9.1.4.2.2. Canada IoT in Healthcare Market by Application
9.1.4.2.3. Canada IoT in Healthcare Market by End User
9.1.4.3. Mexico IoT in Healthcare Market
9.1.4.3.1. Mexico IoT in Healthcare Market by Technology
9.1.4.3.2. Mexico IoT in Healthcare Market by Application
9.1.4.3.3. Mexico IoT in Healthcare Market by End User
9.2. Europe
9.2.1. Europe IoT in Healthcare Market by Technology
9.2.2. Europe IoT in Healthcare Market by Application
9.2.3. Europe IoT in Healthcare Market by End User
9.2.4. Europe IoT in Healthcare Market by Country
9.2.4.1. Germany IoT in Healthcare Market
9.2.4.1.1. Germany IoT in Healthcare Market by Technology
9.2.4.1.2. Germany IoT in Healthcare Market by Application
9.2.4.1.3. Germany IoT in Healthcare Market by End User
9.2.4.2. United Kingdom IoT in Healthcare Market
9.2.4.2.1. United Kingdom IoT in Healthcare Market by Technology
9.2.4.2.2. United Kingdom IoT in Healthcare Market by Application
9.2.4.2.3. United Kingdom IoT in Healthcare Market by End User
9.2.4.3. France IoT in Healthcare Market
9.2.4.3.1. France IoT in Healthcare Market by Technology
9.2.4.3.2. France IoT in Healthcare Market by Application
9.2.4.3.3. France IoT in Healthcare Market by End User
9.2.4.4. Italy IoT in Healthcare Market
9.2.4.4.1. Italy IoT in Healthcare Market by Technology
9.2.4.4.2. Italy IoT in Healthcare Market by Application
9.2.4.4.3. Italy IoT in Healthcare Market by End User
9.2.4.5. Rest of Europe IoT in Healthcare Market
9.2.4.5.1. Rest of Europe IoT in Healthcare Market by Technology
9.2.4.5.2. Rest of Europe IoT in Healthcare Market by Application
9.2.4.5.3. Rest of Europe IoT in Healthcare Market by End User
9.3. Asia Pacific
9.3.1. Asia Pacific IoT in Healthcare Market by Technology
9.3.2. Asia Pacific IoT in Healthcare Market by Application
9.3.3. Asia Pacific IoT in Healthcare Market by End User
9.3.4. Asia Pacific IoT in Healthcare Market by Country
9.3.4.1. China IoT in Healthcare Market
9.3.4.1.1. China IoT in Healthcare Market by Technology
9.3.4.1.2. China IoT in Healthcare Market by Application
9.3.4.1.3. China IoT in Healthcare Market by End User
9.3.4.2. Japan IoT in Healthcare Market
9.3.4.2.1. Japan IoT in Healthcare Market by Technology
9.3.4.2.2. Japan IoT in Healthcare Market by Application
9.3.4.2.3. Japan IoT in Healthcare Market by End User
9.3.4.3. India IoT in Healthcare Market
9.3.4.3.1. India IoT in Healthcare Market by Technology
9.3.4.3.2. India IoT in Healthcare Market by Application
9.3.4.3.3. India IoT in Healthcare Market by End User
9.3.4.4. South Korea IoT in Healthcare Market
9.3.4.4.1. South Korea IoT in Healthcare Market by Technology
9.3.4.4.2. South Korea IoT in Healthcare Market by Application
9.3.4.4.3. South Korea IoT in Healthcare Market by End User
9.3.4.5. Australia IoT in Healthcare Market
9.3.4.5.1. Australia IoT in Healthcare Market by Technology
9.3.4.5.2. Australia IoT in Healthcare Market by Application
9.3.4.5.3. Australia IoT in Healthcare Market by End User
9.3.4.6. Rest of Asia-Pacific IoT in Healthcare Market
9.3.4.6.1. Rest of Asia-Pacific IoT in Healthcare Market by Technology
9.3.4.6.2. Rest of Asia-Pacific IoT in Healthcare Market by Application
9.3.4.6.3. Rest of Asia-Pacific IoT in Healthcare Market by End User
9.4. RoW
9.4.1. RoW IoT in Healthcare Market by Technology
9.4.2. RoW IoT in Healthcare Market by Application
9.4.3. RoW IoT in Healthcare Market by End User
9.4.4. RoW IoT in Healthcare Market by Sub-region
9.4.4.1. Latin America IoT in Healthcare Market
9.4.4.1.1. Latin America IoT in Healthcare Market by Technology
9.4.4.1.2. Latin America IoT in Healthcare Market by Application
9.4.4.1.3. Latin America IoT in Healthcare Market by End User
9.4.4.2. Middle East IoT in Healthcare Market
9.4.4.2.1. Middle East IoT in Healthcare Market by Technology
9.4.4.2.2. Middle East IoT in Healthcare Market by Application
9.4.4.2.3. Middle East IoT in Healthcare Market by End User
9.4.4.3. Africa IoT in Healthcare Market
9.4.4.3.1. Africa IoT in Healthcare Market by Technology
9.4.4.3.2. Africa IoT in Healthcare Market by Application
9.4.4.3.3. Africa IoT in Healthcare Market by End User
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of IoT in healthcare.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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