Global IoT in Healthcare Market (2019-2026): By Application Type (Telemedicine, Indoor Patient Management, Clinical Operations, and System Management, and Others), By Product Type (Medical Gadgets/Devices, Services, Software& Systems, and Other Connectivity Technology), By End User (Hospitals and Clinics, Clinical Research Institution, Diagnostic Laboratories, and Others), By Regions (North America, Europe, APAC, Middle East & Africa, and Latin America), and Competitive Landscape
According to Pheonix Research, The global Internet of Things (IoT) healthcare market was worth $73,208.4 million in 2018 and is estimated to reach $311,983.2 million by 2026, growing at a CAGR of 24.1% during 2019-2026. The Internet of Things is associated with high-end technologies such as gadgets, multiple network interconnectivity, intelligent electronic devices, and plenty of updated hardware & software. During the human intervention, these smart devices electronically share the information with the help of a network which saves time and provides accurate information belonging to the patient. In the healthcare industry, IoT technology provides vital functionality to cure patients with valid information and set up a perfect simulation between doctors and technology.
By Product Type The medical gadgets/devices segment is anticipated to dominate the market with a lion’s share during the projection period. The software and services type segment is forecasted to perform at a supreme growth rate. The union of IoT and smart wearable devices/gadgets assists in empowering and guiding patients to be aware of their health conditions and other organ malfunctions.
By Application Type The inpatient monitoring division captures the superlative CAGR throughout the forecast period. Mainly Inpatient monitoring is a procedure that incorporates routine analysis of a patient’s vital functions for advising department judgment and formulating therapeutic interventions. It serves multiple supervising systems invented to gather physiological data, which is observed and preserved via cloud computing.
By End User The end-user category includes Hospitals and Clinics, Clinical Research Institutions, Diagnostic Laboratories, and Others. Research and development exercises in the healthcare sector eventually drive the growth of the market. Healthcare specialists are progressively adopting intelligent technologies to assist the rising expectations from patients and smart hospitals.
Based on Regions North America captured the major share in the healthcare IoT (Internet of Things) market in 2018. APAC region is projected to be the subsequent superlative regional market.
Key players performing in the healthcare IoT market include Apple Inc., Honeywell Care Solution, Cisco Systems, GE Healthcare, Microsoft Corporation, Koninklijke Philips N.V., IBM Corporation, Stanley Healthcare, Qualcomm Life, Medtronic plc, and others.
The “Global Healthcare IoT Market (2019-2026)” has been fragmented based on application type, product type, end-user, and key regions. The report focused on the primary market drivers fuelling the growth along with the industry challenges confronted by the market players. The report also covers the key player’s profile, competitive landscape, and market-winning strategies in 2018.
By Application Type
• Indoor Patient Management
• Clinical Operations
• System Management
By Product Type
• Medical Gadgets/Devices
• Software& Systems
• Other Connectivity Technology
By End User
• Hospitals and Clinics
• Clinical Research Institution
• Diagnostic Laboratories
• North America
• Middle East & Africa
• Latin America