Internet of things (IoT) in Healthcare Market to Exhibit


Pune, India, June 07, 2021 (GLOBE NEWSWIRE) - The global Internet of Things (IoT) is expected to see significant growth in healthcare market size to $ 446.52 billion by 2028, while between 2021 and . has a staggering CAGR of 25.9% in 2028. This information is backed up by Fortune Business Insights in its report, titled Internet of Things (IoT) in Healthcare - Market Size, Share, and COVID-19 Impact Analysis, by Component (Devices, Software and services), by application (telemedicine) ”published, patient monitoring, operations and workflow management, remote scanning, sample management and others), by end-user (laboratory research, hospitals, clinics and others) and regional forecast, 2021-2028. The report goes on to mention that the market was $ 71.84 billion in 2020. Factors such as the growing awareness of self-monitoring and the evolving health infrastructure are expected to drive demand for the product worldwide.

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Market had a growth rate of 24.1% in 2020 amid COVID-19

The increasing number of patients for diagnosis and detection of the novel coronavirus has overwhelmed healthcare facilities worldwide. Due to the sudden influx, the healthcare sector has focused on adopting modern means to reduce patient downtime for screening and testing. Several hospitals and diagnostic centers began adopting IoT-based systems. For example, according to the World Health Organization (WHO), in 2020, medical staff and patients in Wuhan, China began adopting Cloud-Mind's AI-synchronized smart medical devices made up of rings and bracelets. This resulted in the market growing at a rate of 24.1% in 2020.

Market segmentation:

Based on the component, the market is divided into devices, software, and services. Depending on the application, the market is divided into telemedicine, patient monitoring, operation and workflow management, remote scanning, sample management and others. In addition, the market is divided into laboratory research, hospitals, clinics, and others depending on the end user.

  • On a consumer basis, the hospitals segment held a global market share of the Internet of Things (IoT) in the healthcare sector of around 34.6% in 2020. The segment is expected to be in the forecast period due to increasing investments by hospitals in the introduction of IoT-based technology.

Finally, depending on the region, the market is divided into Asia-Pacific, North America, Europe, the Middle East and Africa, and Latin America.

What does the report contain?

The report on the global Internet of Things (IoT) Healthcare Market has a detailed analysis of several factors such as the major drivers and barriers that will affect its growth. Additionally, the report offers insights into the regional analysis covering different regions and contributing to the growth of the market. It encompasses the competitive landscape that includes the leading companies and the adoption of strategies by them to introduce new products, announce partnerships and collaborations that will further contribute to market growth between 2021 and 2028. In addition, the research analyst has introduced several research methods B. PESTEL and SWOT analysis to get information on current trends and industry developments that will drive market growth in the years to come.

Click here to see the short and long term impact of COVID-19 on this market.

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DRIVING FACTORS

Increasing focus on self-health monitoring to promote growth

The increasing awareness of fitness and health leads to a demand for self-health management techniques. This has increased the demand for several portable medical devices around the world as people can easily access and monitor their health at all times. In addition, several manufacturers are focusing on introducing advanced monitoring equipment to meet growing consumer demand. This is expected to fuel the global Internet of Things (IoT) as the healthcare market grows in the years to come.

REGIONAL INSIGHTS

Asia-Pacific- The region is expected to remain at the top and the highest position in the market over the forecast period. This is due to the presence of a large population and the increasing investment in digital healthcare technologies in the region. The Asia-Pacific region was $ 28.46 billion in 2020.

Latin America - Significant growth is expected in the region, supported by an increasing focus on health facility development. For example, in February 2020, several Brazilian ministries such as Innovation, Healthcare and Technology worked together to integrate the Internet of Things (IoT) into health systems for the benefit of patients.

COMPETITIVE LANDSCAPE:

Product innovation by key players to strengthen their market positions

The market is divided into several large companies eager to maintain their dominance by introducing advanced healthcare IoT solutions to meet the growing demand from patients around the world. In addition, the adoption of strategies such as merger and acquisition, collaboration and partnership by other major players is expected to fuel market growth over the forecast period.

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Industry development:

  • September 2020 - Intel Corporation announced the introduction of enhanced IoT capabilities in its 11th generation core designed for various industrial applications. According to the company, the solution offers AI-based diagnostics and high-resolution displays through the use of advanced medical imaging equipment.

List of companies active in the global healthcare Internet of Things market:

  • Amazon, Inc. (Seattle, Washington, USA)
  • Cisco system Inc. (San Jose, California, USA)
  • General Electricity Company (Boston, Massachusetts, USA)
  • IBM Corporation (Armonk, New York, USA)
  • Intel Corporation (Santa Clara, California, USA)
  • Microsoft Corporation (Redmond, Washington, USA)
  • SAP SE (Walldorf, Germany)
  • royal philips nv (Amsterdam, Netherlands)
  • Senseonics Holdings, Inc. (Maryland, USA)
  • SGH Group (Sydney, Australia)
  • TeleTracking Technologies Inc. (Pittsburgh, Western Pennsylvania, USA)
  • Wipro Ltd. (Bengaluru, Karnataka, India)

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Table of Contents:

  • introduction
    • Definition, by segment
    • Research methodology / approach
    • Data sources
  • The central theses
  • Market dynamics
    • Macro and microeconomic indicators
    • Drivers, restrictions, opportunities and trends
    • Effects of COVID-19
      • Short term effects
      • Long-term effect
  • Competitive landscape
    • Business strategies adopted by key players
    • Consolidated SWOT Analysis of Key Players
    • Porter's Five Forces Analysis
  • Global Internet of Things (IoT) in Major Healthcare Players Market Share Insights and Analysis, 2020
  • Key market insights and strategic recommendations
  • Company profile (only covered for the top 10 players)
    • overview
      • Key management
      • Headquarters etc.
    • Offers / business segments
    • Key details (subject to data availability in the public area and / or in chargeable databases)
      • Employee size
      • Financial metrics
        • Past and current earnings
        • Geographical share
        • Business segment share
    • Recent developments
  • Appendix / Appendix
    • Global Internet of Things (IoT) in Healthcare Market Size Estimates and Forecasts (Quantitative Data), by Segment, 2017-2028
      • By component (value)
        • equipment
        • software
          • Remote device management
          • Data analysis
          • Compliance and Security
          • Asset performance management
          • Other (data storage, electronic patient files, etc.)
        • Services
      • After application (value)
        • Telemedicine
        • Patient monitoring
        • Operations and workflow management
        • Remote scanning
        • Sample management
        • Others (predictive device maintenance, medication management, etc.)
      • By end user (value)
        • Laboratory research
        • Hospitals
        • Clinics
        • Other (clinical tests, pathology, etc.)
      • By region (value)
        • North America
        • Latin America
        • Europe
        • Middle East & Africa
        • Asia Pacific

Table of contents continued.

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