Westford, USA,, April 13, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Internet of Things (IoT) in Healthcare market will attain a value of USD 487.66 billion by 2030, with a CAGR of 21.10% over the forecast (2022-2030). Growing incidences of chronic diseases like COPD, respiratory illnesses, hereditary diseases, and others are driving the worldwide Internet of Things (IoT) in Healthcare market. The market is expanding because of supportive government regulations and widespread internet accessibility. The desire for smart gadgets and wearables is being supported by the demand for disease management and affordable medicines.
According to SkyQuest's, since early-life difficulties are more common, people all across the world are becoming more aware of self-health management. The popularity of wearable technology is being driven by the youthful, active population's increased health consciousness. The development of wearable medical technology has made keeping track of health issues considerably simpler and more practical. The majority of the globe is afflicted by diabetes complications, according to the International Diabetes Federation (IDF). Yet, 47% of patients do not receive a timely diagnosis. As a result, more and more people are using wearable medical technology to do routine health checks.
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- Pages - 242
- Tables - 92
- Figures – 71
The Internet of Things is a collection of physical objects that are connected to one another to share data (IoT). IoT is also employed in the healthcare industry for the gathering, analysis, and monitoring of protected health information, personal health records, and other data produced by devices. IoT applications in healthcare also lessen some of the burdens on healthcare professionals while facilitating crucial activities like improving patient outcomes.
Prominent Players in Internet of Things (IoT) in Healthcare Market
- Amazon, Inc.
- Cisco system Inc.
- Microsoft Corporation
- Wipro Ltd.
- General Electricity Company
- IBM Corporation
- Intel Corporation
- Senseonics Holdings, Inc.
- SAP SE
- Siemens AG
- Bio Telemetry, Inc.
- Koninklijke Philips N.V.
- SGH Group
- Omron Healthcare, Inc.
- TeleTracking Technologies Inc.
Hospital And Clinic Segment Grow at the Fastest Rate Due to Rising Increasing Adoption of IoT Technology
The hospital and clinic segment are anticipated to hold the majority of the market share. Due to the immediate and real-time attention offered by connected devices, the adoption of IoT has improved consumer experiences. Therefore, hospitals are making significant investments in IoT technologies. It is anticipated that wearable device use would increase, boosting IoT-powered clinics. Similar to this, laboratory researchers have begun integrating the technology with the study due to its capacity to deliver real-time data analysis. This business is being driven forward by the increased need to manage an ever-increasing volume of patient data as well as the growing demand for data accessibility and interoperability in hospitals and clinics.
North America accounted for a significant share and is expected to maintain this trend going forward due to the quick development of technology, rising investments from major players, favorable government regulations, an increase in the prevalence of chronic diseases, and the need for cost-effective disease management.
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Software And Services Segment is Expected to Grow the Market Due to Growing Demand for Improved Data Flow and Medical Systems
In 2021, the market for Internet of Things (IoT) in Healthcare was dominated by the software and services segment. The cost-effectiveness, utility, consistency, and precision of 3D printing services for medical devices are expected to drive market growth throughout the forecast period.
Asia-Pacific is anticipated to see a CAGR of 18.40% throughout the forecast period. Several factors contribute to this, including the enormous patient population, growing public awareness and rising healthcare spending in developing countries such as China and India, where the healthcare infrastructure is evolving quickly. In India, the population is growing, and the government is making significant expenditures, which are opening new potential for growth in the healthcare industry and driving regional expansion on the Internet of Things (IoT) in Healthcare market.
A comprehensive analysis of the major players on the Internet of Things (IoT) in Healthcare market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Internet of Things (IoT) in Healthcare Market
- In October 2022, The construction of an infrastructure Region in Thailand was announced by Amazon Web Services (AWS), a division of Amazon.com, Inc. Customers who want to keep their data in Thailand were able to do their startups, enterprises, as well as government, educational, and nonprofit institutions, to run applications and serve end users from AWS data centres in Thailand.
- In March 2022, HeartInsight was introduced by BIOTRONIK to aid in the early detection of heart failure admissions.
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Key Questions Answered in Internet of Things (IoT) in Healthcare Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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