Internet of Things (IoT) in Healthcare Market

Internet Of Things (IoT) In Healthcare Market By Components (Medical Devices [Wearable External Medical Devices, Implanted Medical Devices, and Stationary Medical Devices], Systems & Software, and Services), Applications (Telemedicine, Inpatient Monitoring, Medication Management, and Others), End-users (Hospitals, Clinical Research Organizations, and Others) and Regions (North America, Europe, Latin America, Asia Pacific And Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, And Forecast 2021 – 2028.

  • Report ID: ICT-SE-1336
  • Author: Growth Market Reports
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  • No. Of Pages: 199
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The global Internet of Things (IoT) in healthcare market size was valued USD 46.44 billion in 2020 and is projected to expand at a CAGR of 11.5% during the forecast period, 2021 – 2028. The growth of the market is attributed to growing adoption of healthcare information systems with improved device accuracy and connectivity.

Internet Of Things (IoT) In Healthcare Market Key Takeaways

Internet of Things (IoT) is a network of physical devices that uses connectivity to enable the exchange of data. In healthcare filed, IoT is used for the data collection, analysis, and monitoring electronic health records that contain personally identifiable information, protected health information, and machine-generated healthcare data. IoT applications in healthcare facilitate important tasks, which include to improve patient outcomes, and helps health practitioners to take some burden off.

Internet of Things (IoT) enabled devices have made remote monitoring in the healthcare sector possible, bringing out the potential to keep patients safe and healthy, and empowering physicians to deliver superlative care. Growing IoT healthcare applications is expected to accelerate the digital transformation of the healthcare industry.

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising focus on active patient engagement and patient-centric care is anticipated to drive the growth of Internet of Things (IoT) in healthcare market.
  • Growing demand for adoption of cost-control measures in the healthcare sector is expected to boost the market growth during the forecast period.
  • Increasing demand for wearable devices amidst the COVID-19 outbreak
  • has positively impact on the market growth.
  • Reduced cost of care and evolution of artificial intelligence (AI) technology is speculated to propel the market growth
  • Outdated infrastructure can hinder the digital growth of the medical industry, which can negatively impact the market growth.
  • Government initiatives for promoting digital health coupled with technological advancements can creates huge opportunities for the growth of the Internet of Things (IoT) in healthcare market.

Scope of the Report

The report on the global Internet of Things (IoT) in healthcare market research report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Internet of Things (IoT) in Healthcare Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Components (Medical Devices [Wearable external medical devices, Implanted Medical Devices, and Stationary medical Devices], Systems & Software, and Services), Applications (Telemedicine, Inpatient Monitoring, Medication Management, and Others), and End-users (Hospitals, Clinical Research Organizations, and Others)

Geographical Zone

North America, Europe, Latin America, Asia Pacific, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Medtronic PLC, Koninklijke Philips NV, Cisco Systems, International Business Machines Corporation (IBM), and GE Healthcare

Internet of Things (IoT) in Healthcare Market Segment Insights

Medical devices to accounts considerable market share

Based on components, the market is divided into medical devices, systems & software, and services. The medical devices segment is further bifurcated into wearable external medical devices, implanted medical devices, and stationary medical devices. The medical devices segment is anticipated to account for a considerable market share owing to the growing requirement for cost-effective and efficient solutions to deliver healthcare services. IoT-enabled medical devices play vital role in data gathering and tracking activities, leading to development of various IoT in healthcare.

Internet Of Things (IoT) In Healthcare Market By Components

Medication management segment to account a major market share

On the basis of applications, the global Internet of Things (IoT) in healthcare market is segmented into telemedicine, inpatient monitoring, medication management, and others. The medication management segment is expected to account for a major market share during the forecast period owing to increasing adoption of healthcare information systems, rising demand for systems that can reduce medication errors and improve patient safety. Furthermore, growing adoption of mHealth solutions for medication management is driving the segment growth.

Internet Of Things (IoT) In Healthcare Market By Applications

Hospital segment to account a considerable market share

In terms of end-users, the market is segmented into hospitals, clinical research organizations, and others. The hospital segment is expected to account for a considerable market share during the forecast period. Rapid technological advancements in healthcare, increasing investments from major players, supportive governmental rules, rising prevalence of chronic diseases, and increasing demand for cost-effective disease treatment are anticipated to proliferate the market segment.

North America to dominant market

Based on regions, the global Internet of Things (IoT) in healthcare market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market owing to increasing adoption of healthcare IT solutions, presence of key players, and the availability of sophisticated infrastructure. Additionally, increasing initiatives to curb medical expenses and a shifting trend from fee-for-service to a value-based model has given significant boost to the market growth in the region.

Internet Of Things (IoT) In Healthcare Market By Regions

Segments

Segments Covered in the Report
The Market global Internet of Things (IoT) in healthcare has been segmented on the basis of

Components
  • Medical devices
    • Hardware
    • Software
    • Others
  • Systems & software
  • Services
Applications
  • Telemedicine
  • Inpatient Monitoring
  • Medication Management
  • Others
End-users
  • Hospitals
  • Clinical Research Organizations
  • Others
Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players
  • Medtronic PLC
  • Koninklijke Philips NV
  • Cisco Systems
  • International Business Machines Corporation (IBM)
  • GE Healthcare

Competitive Landscape

Key players operating in the Global Internet of Things (IoT) in healthcare Market includes Medtronic PLC, Koninklijke Philips NV, Cisco Systems, International Business Machines Corporation (IBM), and GE Healthcare.

Internet Of Things (IoT) In Healthcare Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Internet of Things (IoT) in Healthcare Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Internet of Things (IoT) in Healthcare Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Internet of Things (IoT) in Healthcare Market - Supply Chain
  4.5. Global Internet of Things (IoT) in Healthcare Market Forecast
     4.5.1. Internet of Things (IoT) in Healthcare Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Internet of Things (IoT) in Healthcare Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Internet of Things (IoT) in Healthcare Market Absolute $ Opportunity
5. Global Internet of Things (IoT) in Healthcare Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Applications
     5.3.1. Telemedicine Inpatient Monitoring Medication Management Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Internet of Things (IoT) in Healthcare Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by End Users
     6.3.1. Hospitals Clinical Research Organizations Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Internet of Things (IoT) in Healthcare Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Internet of Things (IoT) in Healthcare Demand Share Forecast, 2019-2026
8. North America Internet of Things (IoT) in Healthcare Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Applications
     8.4.1. Telemedicine Inpatient Monitoring Medication Management Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by End Users
     8.7.1. Hospitals Clinical Research Organizations Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Internet of Things (IoT) in Healthcare Demand Share Forecast, 2019-2026
9. Latin America Internet of Things (IoT) in Healthcare Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Applications
     9.4.1. Telemedicine Inpatient Monitoring Medication Management Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by End Users
     9.7.1. Hospitals Clinical Research Organizations Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Internet of Things (IoT) in Healthcare Demand Share Forecast, 2019-2026
10. Europe Internet of Things (IoT) in Healthcare Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Applications
     10.4.1. Telemedicine Inpatient Monitoring Medication Management Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by End Users
     10.7.1. Hospitals Clinical Research Organizations Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Internet of Things (IoT) in Healthcare Demand Share Forecast, 2019-2026
11. Asia Pacific Internet of Things (IoT) in Healthcare Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Applications
     11.4.1. Telemedicine Inpatient Monitoring Medication Management Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by End Users
     11.7.1. Hospitals Clinical Research Organizations Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Internet of Things (IoT) in Healthcare Demand Share Forecast, 2019-2026
12. Middle East & Africa Internet of Things (IoT) in Healthcare Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by Applications
     12.4.1. Telemedicine Inpatient Monitoring Medication Management Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Internet of Things (IoT) in Healthcare Market Size and Volume Forecast by End Users
     12.7.1. Hospitals Clinical Research Organizations Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Internet of Things (IoT) in Healthcare Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Internet of Things (IoT) in Healthcare Market: Market Share Analysis
  13.2. Internet of Things (IoT) in Healthcare Distributors and Customers
  13.3. Internet of Things (IoT) in Healthcare Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Medtronic PLC Koninklijke Philips NV Cisco Systems International Business Machines Corporation (IBM) GE Healthcare
Segments Covered in the Report
The Market global Internet of Things (IoT) in healthcare has been segmented on the basis of

Components
  • Medical devices
    • Hardware
    • Software
    • Others
  • Systems & software
  • Services
Applications
  • Telemedicine
  • Inpatient Monitoring
  • Medication Management
  • Others
End-users
  • Hospitals
  • Clinical Research Organizations
  • Others
Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players
  • Medtronic PLC
  • Koninklijke Philips NV
  • Cisco Systems
  • International Business Machines Corporation (IBM)
  • GE Healthcare

Key players operating in the Global Internet of Things (IoT) in healthcare Market includes Medtronic PLC, Koninklijke Philips NV, Cisco Systems, International Business Machines Corporation (IBM), and GE Healthcare.

Internet Of Things (IoT) In Healthcare Market By Key Players

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