Global Internet of Things (IoT) in Healthcare Market Report 2022-2026 with Key Players Profiles

DUBLIN, December 2, 2022 /PRNewswire/ — The “Internet of Things (IoT) in healthcare” report has been added to offer.

This market report has been segmented by solution, application, connectivity, end user and region. The report provides an overview of the global IoT in Healthcare market and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period, 2021 to 2026.

The healthcare industry has rapidly adopted various IoT solutions creating the Internet of Medical Things (IoMT). Devices such as heart rate monitors and pacemakers collect and send patient health statistics over various networks to healthcare providers for remote monitoring, analysis and configuration. While many of these devices are used in industry, FDA approval has been a key obstacle to widespread adoption. Another obstacle is insurance, which plays a key role in the health sector.

Some of the major factors driving IoT investments include advanced and accurate results, a growing cloud-based infrastructure, and the availability of more affordable smart devices. However, the growth of the market for IoT in healthcare is being held back by factors such as lack of finance and business model, and data security and privacy concerns.

In this report, the market has been segmented on the basis of component, application, connectivity, end user, and geography. On the basis of components, the IoT in healthcare market has been categorized into medical devices, systems and software, services and technology.

Service providers in the healthcare IoT market offer customized and integrated programs that help companies generate consistent and better business outcomes and manage the entire service lifecycle. The integration of IoT medical devices involves several smart and connected devices that can be used to monitor the health of patients and alert doctors before an infection occurs.

The goal of IoT healthcare systems and networks is to minimize project delivery time and cost through device management and deployment, data security, data collection, and data analytics. Processes and software include remote device management, bandwidth usage management, data science, privacy applications, and information security strategies.

The global IoT in healthcare connectivity based market has been categorized into Wi-Fi, Bluetooth, Zigbee and other types of connectivity. The Wi-Fi connectivity segment dominated the market in 2020. Some of the leading connectivity types in the other connectivity segment include Loran and LTE-M. LTE-M is a mobile carrier’s wireless network, approved by the GSMA industry group and 3GPP standards group.

It offers cell tower based location services, without the need to use satellite systems like GPS or Galileo. This feature offers a significant cost reduction for OEMs that require devices to have a vital tracking system. Additionally, LoRa is a widely used connectivity choice for IoT deployment in large areas with many non-critical sensors and control devices.

Its use of license-free radios makes LoRa the best option for citywide environmental sensors, streetlight dimming and surveillance, simple farmland control units, and small object tracking. The fastest growing type of connectivity in the healthcare IoT market is Zigbee.

Revenue forecasts for this period are segmented by solution, application, connectivity, end user, and geography. Market values ​​were estimated based on total IoT revenue in healthcare solution providers. This report covers the Healthcare IoT market with regards to applications across various end-use industries in different regions.

It also focuses on key trends and challenges affecting the market and supplier landscape. This report estimates the global Healthcare IoT market in 2020 and provides projections on the expected market size up to 2026.

The report includes

  • 70 data tables and 25 additional tables
  • An up-to-date review and analysis of the global Internet of Things (IoT) market in specific healthcare applications
  • Analysis of global market trends, with historical market revenue (sales data) for 2020 and 2021, estimates for 2022 and 2024, and projections of compound annual growth rates (CAGR) to 2026
  • Highlights of the market potential of IoT in healthcare and areas to forecast this market in various segments and sub-segments
  • Assess and forecast the global Healthcare IoT market size, projected growth trends and corresponding market share analysis by component, solution, device type, connectivity, application, end-user vertical, and geography
  • Discussion on the evolution and various applications of IoT solutions in different vertical sectors of healthcare, connected medical devices and updated information on the latest market developments
  • Evaluating viable technology drivers through a holistic review of various healthcare-specific applications for new and existing IoT technologies and cloud architecture
  • Industry value chain analysis discussion providing a systematic study of key intermediaries involved, along with a PESTEL analysis for IoT in Healthcare
  • In-depth information on the increase in R&D investments, key technological issues, specific industry challenges, main types of end-user markets and the implications of COVID-19 on the performance of this market
  • Analysis of granted patents for IoT in healthcare devices from 2018 to March 2022 in each major category
  • Descriptive company profiles of key global players including Cisco Systems Inc., IBM Corp., GE Healthcare, Medtronic plc, Koninklijke Philips NV and Siemens Healthcare

IoT market overview in healthcare

Market drivers

  • Advanced and precise result
  • Iot for elderly care
  • Improved cloud infrastructure in healthcare
  • Growing demand for smart devices in healthcare

Market restrictions

  • Funding and lack of business model
  • Increasing security vulnerabilities of devices and data

Market opportunity

  • Government initiatives promoting digital health
  • Birth of tele-health

IoT applications in Healthcare

  • EKG monitoring
  • Temperature monitoring
  • Blood glucose monitoring (Bg).
  • Asthma monitoring
  • Mood tracking
  • Oxygen saturation monitoring
  • rehabilitation systems
  • Wheelchair management
  • Medication adherence
  • Medication management
  • Chronic disease management
  • Smartphone solutions
  • Trends in the healthcare IoT market
  • Electronic medical record systems (HER) for multi-specialist applications
  • Patient portal and self-service software
  • Blockchain technologies
  • Enterprise software design
  • Advanced analysis
  • Emerging healthcare technologies
  • Cloud Computing
  • Grid calculation
  • Big Data and related networks
  • Augmented reality

Company profiles

  • Laboratories Abbott
  • Adhertech
  • Agamatrix Inc.
  • Arms, Inc.
  • Biotronik Se & Co. Kg
  • Boston Scientific Corp.
  • Capsule Technologies, Inc.
  • cisco systems, inc.
  • GE Healthcare
  • Intel Corp.
  • Rhythm technologies
  • International Business Machines Corp. (Ibm)
  • Johnson & Johnson Services Inc.
  • Royal Philips NV
  • Medtronic SpA
  • Microsoft Corp.
  • Omron Healthcare Inc.
  • Resideo Technologies, Inc.
  • Sap Se
  • Stanley Healthcare

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SOURCE Research and markets