WESTFORD, Mass., June 27, 2024 /PRNewswire/ -- According
to SkyQuest, the global IoT in Healthcare Market size was
valued at USD 215.4 billion in 2022
and is poised to grow from USD 252.1
billion in 2023 to USD 926.9
billion by 2031, growing at a CAGR of 16.8% in the forecast
period (2024-2031).
The use of Internet of Things (IoT) in healthcare industry
refers to the connection of all connected devices and healthcare
equipment through the Internet. The growing digitization of the
healthcare industry is projected to bolster the demand for IoT in
healthcare across the forecast period. High adoption of electronic
health records and the increasing importance of healthcare data are
also slated to augment IoT in healthcare market development going
forward. The global IoT in healthcare market is segmented into
component, end user, application, and region.
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overview:
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IoT In Healthcare Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 252.1 billion
|
Estimated Value by
2031
|
$ 926.9 billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 16.8%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and
Trends
|
Segments
Covered
|
Component, Application,
End-user and Connectivity
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increase in Adoption of
IoT in Healthcare Industry
|
Key Market
Drivers
|
Integration of AI
within the IoT in healthcare is Driving the Market
|
Segments covered in IoT in Healthcare Market are
as follows:
- Component
- Medical Devices (Wearable External Devices, Implanted Medical
Devices, Stationary Medical Devices), System and Software (Remote
Device Management, Network Bandwidth Management, Data Analytics,
Application Security, Network Security), Services (Deployment and
Integration Services, Consulting {Training, and Education}, Support
and Maintenance Services)
- Application
- Telemedicine (Store and Forward Telemedicine, Remote Patient
Monitoring, Interactive Telemedicine), Clinical Operations and
Workflow Management, Connected Imaging, Patient Monitoring, Medical
Management, Others
- End-user
- Hospitals, Surgical Centers, Clinics, Clinical Research
Organizations, Government & Defense Institutions, Research
& Diagnostic Laboratories
- Connectivity
- Cellular, Wi-Fi, Bluetooth, Satellite, Zigbee, Near-field
Communication, Others
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report:
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Hospitals to Remain at the Top in Terms of IoT in Healthcare
Adoption
Growing hospitalization around the world has resulted in an
increased burden on these healthcare institutions. To manage this
increasing workload, hospitals are quickly investing in advanced
digital technologies such as IoT and robotics. High emphasis on
improving patient outcomes and the adoption of a patient-centric
care approach is also estimated to help promote the use of IoT
devices in this sub-segment.
A growing number of clinical trials and high investments in
medical R&D are also opening the scope for IoT adoption in
clinical research organizations. The increasing complexity of the
regulatory framework and the need for more clinical data will also
promote the use of IoT devices in clinical research organizations.
Meanwhile, rising demand for faster turnaround times from
diagnostic and research laboratories will also help promote the
demand for IoT technology for diagnostic laboratories and research
laboratories over the coming years.
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(TOC):
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Telemedicine: Key to Unlocking Full Potential of IoT in
Healthcare Business
The growing prevalence of chronic diseases around the world has
boosted the demand for novel healthcare solutions thereby resulting
in innovations such as telemedicine. Rising demand for better
patient monitoring in all scenarios and advancements in
telemedicine technology is forecasted to help this segment hold a
high share of the global IoT in healthcare market. IoT
devices are highly crucial for the proper adoption of telemedicine,
and this is why growing demand for telemedicine will benefit market
development over the coming years.
Remote patient monitoring is another key application estimated
to uplift the demand for IoT in healthcare. Growing demand for home
care and the establishment of multiple remote care centers are
projected to help promote the adoption of IoT in healthcare across
the forecast period and beyond. The use of IoT devices and systems
to automate or improve clinical operations1 and workflow management
will also help market development in the future. Medication
management is also a key application that is expected to gain
traction over the coming years and promote the use of IoT
technology across the healthcare industry. Medication management,
especially for the geriatric population, will be crucial as aging
people opt to live more independently worldwide.
In conclusion, the global IoT in healthcare market has a lot of
scope owing to rapid digitization in the healthcare space.
Increasing awareness regarding the benefits of IoT deployment is
estimated to help IoT in healthcare providers gain good revenue
from almost all segments. Hospitals are projected to remain the
most lucrative end user for new as well as established IoT in
healthcare companies operating in the market.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA: (+1) 351-333-4748
Email: sales@skyquestt.com
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