Our comprehensive research on the Global IoT in healthcare Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global IoT in healthcare market size was US$ 167.5 billion in 2021. The global IoT in healthcare market is forecast to reach US$ 238.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 20.4% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The rising trend of wearable technology is forecast to drive the growth of the global IoT in healthcare market. In addition, the increasing penetration of digital technologies in healthcare segment will propel the IoT in healthcare market forward.
The growing focus of healthcare bodies towards adopting advanced technologies will contribute to the market growth. In addition, the growing geriatric population and growing cases of chronic diseases will propel the IoT in healthcare market forward.
The increasing number of partnerships and acquisitions will contribute to the market growth. For instance, Philips inked a pact with Open Market to introduce a remote sensor technology that also offers mobile messaging, called e-Alert. Thus, more such advancements are likely to surge the growth of the global IoT in healthcare market.
Regional Analysis
North America is forecast to dominate the global IoT in healthcare market, owing to the rising adoption of advanced technologies. In addition, high healthcare expenditure and the increasing prevalence of diseases will contribute to the growth of the regional market.
Asia-Pacific IoT in healthcare market is forecast to gain traction due to favorable government policies and rising healthcare expenditure. In addition, the increasing prevalence of diseases in the region will benefit the regional IoT in healthcare market.
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Competitors in the Market
- Agamatrix Inc.
- Armis Inc.
- Capsule Technologies, Inc.
- Cisco Systems Inc.
- Comarch SA
- GE Healthcare
- HQSoftware
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Intel Corporation
- KORE Wireless Group
- Medtronic PLC
- Microsoft Corporation
- Oracle Corporation
- OSP Labs Pvt. Ltd.
- Oxagile LLC
- Resideo Technologies, Inc.
- SAP SE
- ScienceSoft
- Siemens AG
- Softweb Solutions Inc.
- STANLEY Healthcare Solutions
- Telit
- Welch Allyn, Inc.
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the IoT in healthcare industry experienced notable growth in its workforce. Starting in January, employment within the IoT in healthcare sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global IoT in healthcare output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
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Forecasts indicate that the global IoT in healthcare output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global IoT in healthcare market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the IoT in healthcare market.
Market Segmentation
Based on the component, the IoT in the healthcare market has been segmented into –
- System and Software
- Medical Devices
- Services
- Connectivity Technology
Based on the application, the IoT in the healthcare market has been segmented into-
- Inpatient Monitoring
- Telemedicine
- Connected Imaging
- Clinical Operations and Workflow Management
- Others
Based on the connectivity, the IoT in the healthcare market has been segmented into-
- Wi-Fi
- Satellite
- Cellular
- BLE
- Near Field Communication
- Zigbee
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Based on the end-user, the IoT in the healthcare market has been segmented into-
- Hospitals and Clinics
- Research Laboratories
- Clinical Research Organizations
- Others
Based on the region, the IoT in the healthcare market has been segmented into-
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global IoT in healthcare Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global IoT in healthcare Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global IoT in healthcare Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global IoT in healthcare Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level IoT in healthcare market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the IoT in healthcare market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of IoT in healthcare business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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