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LONDON, May 1, 2018 /PRNewswire/ — KEY FINDINGS
The global Internet of Things (IoT) in Healthcare market is anticipated to evolve at a CAGR of 29.09% throughout the forecasting years 2018-2026. The growing funding for IOT healthcare solutions is one of the major factors responsible for the growth of the market across the globe.
The IoT in healthcare is a network of devices that record the data and is able to connect by integrating vital data connected to a central control and command server.The global Internet of Things (IoT) in Healthcare market is segmented into components, application, and end-users.
In the components segment, the medical device is dominating due to the increasing penetration of connected medical devices in the market.Telemedicine leads the application segment by capturing largest market share in 2016.
Also, the growing adoption of telemedicine is expected to be the key driver for the growth of IoT in healthcare market. The in-patient monitoring market is the fastest growing segment, primarily driven by increasing prevalence of diseases such as cancer, cardiovascular diseases etc. that require hospital admission and constant care for treatment. The hospitals lead the end-user segment in the IoT in healthcare market by capturing largest market share in 2016. The high adoption of connected medical devices such as IVD devices, physiological monitors, and wearable’s is also positively impacting the market. However, lacked skilled professional is majorly declining the market demand across the globe.
On the basis of region, the global market for Internet of Things (IoT) in Healthcare is classified into four major regions like North America, Asia Pacific, Europe, and Rest of world.North America leads the global IoT in healthcare market by capturing largest market share in the global IoT in healthcare market.
The market in North America region is primarily driven by high healthcare expenditure coupled with sound ICT infrastructure that promotes seamless integration of IoT devices in healthcare.Asia-Pacific IoT in healthcare market is growing at the highest pace during the forecast period 2018-2026.
Aging population, increasing healthcare expenditure, demand for quality healthcare treatment regime, government policies aiding investment in healthcare sector, and growing internet penetration are the major factors driving the IoT in healthcare market in the Asia Pacific region.
The major companies presence in the global market are Apple Inc., Cisco Systems Inc., GE Healthcare, Google Inc., Honeywell Life Care Solutions, IBM Corporation, Intel Corporation, Koninklijke Philips N.V, Medtronic Inc., Microsoft Corporation, Proteus Digital Health, Inc., Qualcomm Incorporated, Sap Se, St. Jude Medical Inc. (Acquired By Abbott Laboratories), and Stanley Healthcare.
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