According to the latest report published by Variant Market Research, the global IoT healthcare market is projected to reach $205 Billion by 2024, from $54 Billion in 2016, at a CAGR of 20.2 % from 2016 to 2024.
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Growing technological advancementsto drive the globalIoT healthcare market
The global IoT healthcare market is driven by factors such as growing technological advancements, increasing demand for cost-effective treatment, availability to high speed internet, growing need for remote patient monitoring, and fitness & wellness tracker for athletes.Insufficient of IoT technical skills may hamper the market growth. Furthermore, growing R&D and market expansion would provide an opportunity for market players of IoT healthcare market.
Market Segmentations
The global IoT healthcare market is classified into component type, delivery mode, application, end-user, and geography. Component type segment includesembedded sensor networks, control systems, automation systems, wireless sensor networks, and other components types. On-premises, web-based, and cloud-based are covered under the delivery mode sub segment. Application includes clinical operations & workflow management, connected imaging, telemedicine, medication management, impatient monitoring, and other applications. End-user is categorized into surgical center and clinics, hospitals, clinical research organization, research &diagnostic laboratory and others. North America (U.S., Mexico, and Canada), Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global IoT healthcare market.
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Wireless sensor networks, bycomponent type, is estimated to dominated the global market in 2016
Wireless sensor networks held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to various applications of wireless sensor networks such as monitoring & control, machine health monitoring, and many more.
Web-based, bydelivery mode, is estimated to dominated the global market in 2016
Web-based held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to high adoption of web based IoT healthcare.
Telemedicine, by application, is estimated to dominated the global market in 2016
Telemedicine held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to the facility of telemedicine, which enables the conversation and transfer of medical data from one site to another via telecommunication infrastructure to sustain, improve,or support in providing information regarding the health status of a patient.
Asia-Pacific is estimated to witness fastest CAGR from 2016 to 2024
Asia-Pacific is predicted to grow at a fastest CAGR over the forecast period 2016 to 2024. The growth is attributed to emerging countries, growing number of IT healthcare services, and growing disposable income.
Competitive Landscape
The key market players of the market areSt. Jude Medical Inc,Cisco Systems Inc., Apple Inc.,GE Healthcare Ltd., International Business Machines Corporation, Microsoft Corporation, Google (Alphabet), Proteus Digital Health, Qualcomm Life Inc., and Medtronic PLC, among others.
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Scope of IoT Healthcare Market
Component Type Segments
- Wireless Sensor Networks
- Embedded Sensor Networks
- Automation Systems
- Control Systems
- Other Component Types
Delivery Mode Segments
- Web-Based
- On-Premises
- Cloud-Based
Application Segments
- Telemedicine
- Clinical Operations and Workflow Management
- Connected Imaging
- Impatient Monitoring
- Medication Management
- Other Applications
End-User Segments
- Hospital, Surgical Centre & Clinics
- Clinical Research Organization
- Research and Diagnostic Laboratory
- Other End-Users
Geographical Segments
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Others
- Asia-Pacific
- China
- India
- Japan
- Others
- RoW
- South America
- Middle East
- Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients’ objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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