This report provides exclusive insights into the COVID-19 impact on the IoT in Healthcare Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the IoT in Healthcare Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of IoT in Healthcare Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on IoT in healthcare market provides an in-depth analysis of segments and sub-segments in global as well as regional IoT in healthcare market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional IoT in healthcare market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global IoT in healthcare market. According to the report, the global IoT in healthcare market is projected to grow at a CAGR of 31.1% over the forecast period of 2018-2024.
Internet of things is the most trending technology adopted in various industries. The IoT has numerous application in the healthcare sectors. The IoT allows the integration of remote monitoring systems with medical devices. It helps to connect the doctors and patients without restriction by using smart devices. In healthcare sectors, the IoT offers better disease management and provide improved patient experience with affordable costs.
The rising demand for chronic disease management, better connectivity between the doctors and the patients, enhanced drug delivery system in the healthcare sectors have created the demand for IoT in healthcare sector. In addition, the IoT allows interconnecting devices with each other that improve patient monitoring, patient outcomes, decrease in errors and other benefits which is likely to boost the market growth. Due to the introduction of the IoT in healthcare, the efficiency, effectiveness and the quality of the service in Healthcare has improved. In addition, the IoT in healthcare is mostly used in the closed-loop insulin delivery, continuous glucose monitoring (CGM) system, activity trackers during cancer treatment, and connected inhalers. In addition, the IoT in healthcare sector also provides Ingestible sensors, connected contact lenses, depression-fighting apple watch app, coagulation testing, and others.
The introduction of artificial intelligence technology in healthcare is the major factor driving the growth of this market. In addition, some factors such as technological advancement in the healthcare sector, rising demand of cost-effective management system for treatment, a collaboration of IT companies with the major companies catering into healthcare are expected to fuel the market growth over the forecast period.
However, the issue associated with data privacy and security is expected to hamper the market growth. Moreover, ongoing Improvements in the healthcare infrastructure, rising investments for the R&D and growing demand for technological advancement in the Healthcare sector is projected to create several opportunities for this market in upcoming years.
North America accounts for the largest market share in the IoT in the healthcare market owing to the presence of major players such as GE Healthcare, Medtronic, and many others. In addition, Asia-Pacific is the fastest growing region in IoT in the healthcare market. The growing demand for a cloud-based management system in the healthcare industries drives market growth in the Asia-Pacific region. Furthermore, the presence of various hospitals and surgical center and growing healthcare infrastructure are likely to escalate the market growth in the Asia-Pacific region.
The report on global IoT in healthcare market covers segments such as technology, application, and end user. On the basis of technology, the global IoT in healthcare market is categorized into WI-FI, NFC, ZigBee, Bluetooth, and others. On the basis of application, the global IoT in healthcare market is categorized into telemedicine, clinical operations and workflow management, connected imaging, inpatient monitoring, medication management, and others. On the basis of end user, the global IoT in healthcare market is categorized into hospitals, surgical centers, and clinics, clinical research organization (CRO), government and defense institutions and research and diagnostics laboratories.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global IoT in healthcare markets such as Medtronic, Cisco Systems, IBM, GE Healthcare, Honeywell Life Care Solutions, Royal Philips, Microsoft, SAP, Qualcomm Life, and Stanley Healthcare.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global IoT in healthcare market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of IoT in healthcare market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the IoT in healthcare market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the IoT in healthcare market to understand the present and future trends in this market and formulate their strategies accordingly.