Adroit Market Research - Industry Insights
Internet of Things (IoT) in Healthcare Market by Component (Medical Devices, System & Software, Services), Application (Telemedicine, Medication Management, Clinical Operations, Inpatient Monitoring, Connected Imaging, Others), and Region, Global Forecast 2018 to 2025
Mar 2020
Total Pages: 117
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The growing adoption of wearable technology, the emergence of connected cars, as well as investments for deploying digital technologies are the main factors driving the growth of the Internet of Things (IoT) in the healthcare industry. Increasing geriatric population, technological advancements, along with growing dominance of chronic conditions are substantially impacting the market growth. The global Internet of Things (IoT) in healthcare market size is anticipated to reach over USD 169 billion by 2025. This is attributed to the rising focus on active patient-centric care and patient engagement, rise in high-speed technologies for Internet of Things (IoT) connectivity, rising need for implementing cost-control actions within the healthcare sector.
-in-the-Healthcare-Market-2018-2025-(USD-Billion)_1.png "Global Internet of Things (IoT) in the Healthcare Market 2018-2025 (USD Billion)")
Additionally, the growing need to provide better consumer experience and increase in need to get insights on customer preferences & choices are also some of the essential factors boosting the adoption of the Internet of Things (IoT) in healthcare solutions. However, initial setup cost and legacy healthcare systems are hampering the market growth. Furthermore, the advent of cloud-based analytics is expected to provide growth opportunities for the IoT in the healthcare market in the forthcoming years.
Key Segments of the Global Internet of Things (IoT) in the Healthcare Market
Component Overview, 2018-2025 (USD Billion)
- 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
- System Integration Services
- Consulting, Training, and Education
- Support and Maintenance Services
Application Overview, 2018-2025 (USD Billion)
- Telemedicine
- Medication Management
- Clinical Operations
- Inpatient Monitoring
- Connected Imaging
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global IoT in the healthcare market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global IoT in healthcare market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the IoT in the healthcare industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on components and applications. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global IoT in the healthcare market. The report will benefit:
- Every stakeholder involved in the IoT in the healthcare market.
- Managers within the healthcare industry looking to publish recent and forecasted statistics about the global IoT in the healthcare market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global IoT in the healthcare market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Even though the IoT in healthcare is not yet in prevalent use throughout, it is likely to experience massive growth in demand in the coming years. The rapid surge of these technologies is accredited to the reducing costs of the devices coupled with reducing the component size by making it compact and user friendly to use. Healthcare laboratories, hospitals, and pharmacies shall use IoT more efficiently for improving workflow optimization, inventory management, and medical device integration in the coming years. Having realized that the industrial internet of things can enable radical improvement in functional efficacies, numerous organizations throughout the globe are adopting predictive maintenance methods based on compatible software and smart sensors. The method can particularly enable in enhancing the safety factor while restricting the equipment downtime.
Component Segment
Based on the component segment, the market is bifurcated into three sub-segments that are medical devices, systems & software, and services. In 2019, the medical device segment gathered the highest market revenue and it is anticipated to govern the IoT in the healthcare market throughout the forecast period. The large scale implementation of medical devices owing to the increasing need for foe efficient and cost-effective solutions for enabling healthcare services. Additionally, IoT-enabled medical devices possess an essential role in tracking and gathering various information, thus, leading to the advancement of different Internet of Things (IoT) in healthcare use cases.
Application Segment
Based on the application, the market is classified into telemedicine, clinical operations, medication management, connected imaging, inpatient monitoring, and others. The market for inpatient monitoring is anticipated to witness a staggering growth over the forecast period.
The process of Inpatient monitoring involves the continuous diagnosis of a patient’s physiological functions for making therapeutic interventions and guiding management decisions. It provides different monitoring systems deliberated to collect physiological data, which is stored and analyzed using clouds and gateways.
.png "Global IoT in Healthcare Market by services 2018-2025 (USD Billion)")
Asia-Pacific region is expected to hold the highest CAGR during the forecast period 2020–2025. The growth of this region is mainly attributed to the major technological shifts, especially those heralded by the Internet of Things (IoT) that are probably to shape the future. Moreover, North America dominated the IoT in the healthcare market during the forecast period due to the presence of major market players and the availability of sophisticated healthcare infrastructures in the region.
.png "North America IoT in Healthcare Market 2018-2025 (USD Billion)")
The major players of the global IoT in the healthcare market are Agamatrix, Capsule Technologies, Cisco Systems, GE Healthcare, IBM Corporation, KORE Wireless, Medtronic, Microsoft Corporation, OSP Labs, Resideo Technologies, Royal Philips, and more. The IoT in the healthcare market is fragmented with the existence of well-known global and domestic players across the globe. Also, recognized companies are coming up with innovative and new IoT in healthcare technologies and solutions.
The growing adoption of wearable technology, the emergence of connected cars, as well as investments for deploying digital technologies are the main factors driving the growth of the Internet of Things (IoT) in the healthcare industry. Increasing geriatric population, technological advancements, along with growing dominance of chronic conditions are substantially impacting the market growth. The global Internet of Things (IoT) in healthcare market size is anticipated to reach over USD 169 billion by 2025. This is attributed to the rising focus on active patient-centric care and patient engagement, rise in high-speed technologies for Internet of Things (IoT) connectivity, rising need for implementing cost-control actions within the healthcare sector.
Additionally, the growing need to provide better consumer experience and increase in need to get insights on customer preferences & choices are also some of the essential factors boosting the adoption of the Internet of Things (IoT) in healthcare solutions. However, initial setup cost and legacy healthcare systems are hampering the market growth. Furthermore, the advent of cloud-based analytics is expected to provide growth opportunities for the IoT in the healthcare market in the forthcoming years.
Key Segments of the Global Internet of Things (IoT) in the Healthcare Market
Component Overview, 2018-2025 (USD Billion)
- 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
- System Integration Services
- Consulting, Training, and Education
- Support and Maintenance Services
Application Overview, 2018-2025 (USD Billion)
- Telemedicine
- Medication Management
- Clinical Operations
- Inpatient Monitoring
- Connected Imaging
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global IoT in the healthcare market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global IoT in healthcare market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the IoT in the healthcare industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on components and applications. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global IoT in the healthcare market. The report will benefit:
- Every stakeholder involved in the IoT in the healthcare market.
- Managers within the healthcare industry looking to publish recent and forecasted statistics about the global IoT in the healthcare market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global IoT in the healthcare market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Rising Focus on Active Patient-Centric Care and Patient Engagement
4.3.1.2 Growing Need for the implementing of cost control measures in healthcare
4.3.2 Restraints
4.3.2.1 Internet Disruptions Leading to Rugged IoT Device Performance
4.3.3 Opportunities
4.5 PEST Analysis
Chapter 5 IoT in Healthcare market by Component
5.1 Introduction
5.1.1 Medical devices
5.1.1.1 Wearable External Devices
5.1.1.2 Implanted Medical Devices
5.1.1.3 Stationary Medical Devices5.
5.1.2 System and Software
5.1.2.1 Remote Device Management
5.1.2.2 Network Bandwidth Management
5.1.2.3 Data Analytics
5.1.2.4 Application Security
5.1.2.5 Network Security
5.1.3 Services
5.1.3.1 System Integration Services
5.1.3.2 Consulting, Training, and Education
5.1.3.3 Support and Maintenance Services
Chapter 6 IoT in Healthcare market by Application
6.1 Introduction
•6.1.1 Telemedicine
6.1.2 Medication Management
6.1.3 Clinical Operations
6.1.4 Inpatient Monitoring
6.1.5 Connected Imaging
•6.1.6 Others
Chapter 8 IoT in Healthcare market By Region
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Middle East & Africa
8.5.1 UAE
8.5.2 South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Rest of South America
Chapter 9 Competitive Landscape
9.1 Overview
9.2 Strategic Initiatives
9.2.1 Mergers & Acquisitions
9.2.2 New Product Launch
9.2.3 Investments
9.2.4 Expansion
9.2.5 Others
Chapter 10 Company Profiles
10.1 Agamatrix
10.1.1 Overview
10.1.2 Products and Services Portfolio
10.1.3 Recent Initiatives
10.1.4 Company Financials
10.1.5 SWOT
10.2 Capsule Technologies
10.2.1 Overview
10.2.2 Products and Services Portfolio
10.2.3 Recent Initiatives
10.2.4 Company Financials
10.2.5 SWOT
10.3 Cisco Systems
10.3.1 Overview
10.3.2 Products and Services Portfolio
10.3.3 Recent Initiatives
10.3.4 Company Financials
10.3.5 SWOT
10.4 GE Healthcare
10.4.1 Overview
10.4.2 Products and Services Portfolio
10.4.3 Recent Initiatives
10.4.4 Company Financials
10.4.5 SWOT
10.5 IBM Corporation
10.5.1 Overview
10.5.2 Products and Services Portfolio
10.5.3 Recent Initiatives
10.5.4 Company Financials
10.5.5 SWOT
10.6 KORE Wireless
10.6.1 Overview
10.6.2 Products and Services Portfolio
10.6.3 Recent Initiatives
10.6.4 Company Financials
10.6.5 SWOT
10.7 Medtronic
10.7.1 Overview
10.7.2 Products and Services Portfolio
10.7.3 Recent Initiatives
10.7.4 Company Financials
10.7.5 SWOT
10.8 Microsoft Corporation
10.8.1 Overview
10.8.2 Products and Services Portfolio
10.8.3 Recent Initiatives
10.8.4 Company Financials
10.8.5 SWOT
10.9 OSP Labs
10.9.1 Overview
10.9.2 Products and Services Portfolio
10.9.3 Recent Initiatives
10.9.4 Company Financials
10.9.5 SWOT
10.10 Resideo Technologies
10.10.1 Overview
10.10.2 Products and Services Portfolio
10.10.3 Recent Initiatives
10.10.4 Company Financials
10.10.5 SWOT
10.11 Other Companies