Healthcare IoT Market by Component (Medical Device, Connectivity Solutions, Systems and Software, Services), Application (Telemedicine, Clinical Operations and Workflow Management, Medication Management, Connected Imaging, Inpatient Monitoring), and by End User – Global Forecast to 2025
Healthcare IoT Market by Component (Medical Device, Connectivity Solutions, Systems & Software, Services) Application (Telemedicine, Clinical Operations and Workflow Management, Medication Management, Connected Imaging, Inpatient Monitoring) & by End User – Global Forecast to 2025
The global healthcare IoT market is expected to grow at a CAGR of 29.9% to reach $322.2 billion by 2025. The factors such as increasing number of digital health initiatives from governments across the globe, increasing need to reduce the cost of healthcare, rising focus on patient centric care delivery, and increasing penetration of smartphones and high-speed networking and connectivity solutions in emerging countries are expected to contribute to the growth of the global healthcare IoT technologies market during the forecast period. Furthermore, the technological advancements in the medical device industry driving entry of advanced connected medical devices in the market is also expected to drive greater adoption of IoT technologies among different end users, thereby contributing to the growth of this market.
Telemedicine accounts for the largest application market for healthcare IoT. As healthcare systems across the globe are aiming to improve the efficiency of healthcare delivery and minimize the cost of healthcare by reducing the hospital stays, the demand for telemedicine solutions is expected to grow in the coming years.
An in-depth analysis of the geographic scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. North America accounted for the largest share of the healthcare IoT technologies market in 2018. However, during the forecast period the APAC market is expected to register the fastest CAGR. The growth in this geographic market is primarily attributed to the growing smartphone penetration, widening internet connectivity and high-speed networks, need to manage growing burden of chronic diseases on healthcare providers, and government efforts to improve accessibility of healthcare services to remote locations.
The major players operating in the healthcare IoT technologies (IoT platforms and connectivity technologies) market include Cisco Systems Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Qualcomm Life, Inc. (U.S.), and Honeywell Life Care Solutions (U.S.); whereas, the leading players offering IoT-enabled medical devices include GE Healthcare (US), Siemens Healthineers (Germany), Medtronic (US), Philips (Netherlands), Honeywell Life Care Solutions (US), Boston Scientific (US), Johnson & Johnson (US), BIOTRONIK Germany), Omron (Japan), AgaMatrix (US), STANLEY Healthcare (US), AliveCor (US), iHealth Lab (US), and Welch Allyn (US).
Scope of the Report:
Healthcare IoT Market, by Component
Medical Devices Market, by Type
Implantable Medical Devices
Wearable Medical Devices
Other IoT Medical Devices Market
Medical Devices Market, by Products
Vital Signs Monitoring Systems
Implantable Cardiac Devices
Fetal Monitoring Device
Other IoT-enabled Medical Devices
Systems and Software
Healthcare IoT Market, by Application
Clinical Operations & Workflow Management
Healthcare IoT Market, by End User
Hospitals & Clinics
Home Care & Ling-Term Care Centers
Other End Users
Healthcare IoT Market, by Country/Region
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Middle East and Africa
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook