Global IoT in Healthcare Market, Forecast to 2025: $188.2 Billion Opportunity

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Aug 14, 2020, 11:45 ET

DUBLIN, Aug. 14, 2020 /PRNewswire/ -- The "IoT in Healthcare Market by Component (Medical Device, Systems & Software, Services, and Connectivity Technology), Application (Telemedicine, Connected Imaging, and Inpatient Monitoring), End User, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global IoT in healthcare market is projected to grow from USD 72.5 billion in 2020 to USD 188.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21% during the forecast period.

The IoT in healthcare market is driven by factors, such as advancement in technology coupled with rising demand for self-health management service and rise of digitalization and increase in the overall level of connectivity and innovations taking place in the modern healthcare ecosystem. However, lack of skilled digital workforce, and challenge for organizations due to security concerns related to the violation of crucial patient information are expected to restructure growth of the IoT in healthcare market.

Systems and Software segment to grow at the highest CAGR during the forecast period

The IoT in healthcare market by component is segmented into medical devices, systems and software, services, and connectivity technology. The systems and software segment is expected to grow at a rapid pace during the forecast period. Systems and software are the most promising components in the IoT in healthcare market as they create a high degree of smart characteristics and autonomy in the IoT ecosystem. They are designed to meet interoperability challenges that occur due to varied heterogeneous devices, along with managing large volumes of data and offering them security and privacy.

Hospitals, surgical centers, and clinics segment to hold the largest market size during 2020

The IoT in healthcare market by enduserhas been segmented intohospitals, surgical centers, and clinics;clinical research organizations;government and defense institutions; and research and diagnostic laboratories. IoT solutions in the healthcare sector are majorly catered by this segment that consists of hospitals, surgical centers, and clinics, as they are the most approached care centers by patients.

APAC to grow at the highest CAGR during the forecast period

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Factors, such as flexible economic conditions, industrialization- and globalization-motivated policies of the governments, as well as expanding digitalization, would support the growth of the IoT in healthcare market in the region.

Research Coverage

The market study covers the IoT in healthcare market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as component, application, end user, and region. The study further includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the IoT in Healthcare Market
4.2 Market by Component and Region, 2020
4.3 Market Top 2 Components, 2020-2025
4.4 Market by Region, 2020 vs. 2025
4.5 Regional Market Potential

5 Market Overview and Industry Trends
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Focus on Active Patient Engagement and Patient-Centric Care
5.2.1.2 Growing Need for the Adoption of Cost Control Measures in Healthcare
5.2.1.3 Growth and Increased Adoption of High-Speed Network Technologies for IoT Connectivity
5.2.1.4 Evolution of Complementing Technologies, such as Artificial Intelligence and Big Data
5.2.1.5 Need for Healthcare in Remote Locations
5.2.1.6 Increasing Demand for Wearable Devices Amid the COVID-19 Outbreak
5.2.2 Restraints
5.2.2.1 Outdated Infrastructure Hindering the Digital Growth of the Medical Industry
5.2.2.2 Internet Disruptions Leading to Rugged IoT Device Performance
5.2.3 Opportunities
5.2.3.1 Low Doctor-To-Patient Ratio Leading to Increased Dependency on Self-Operated Ehealth Platforms
5.2.3.2 Government Initiatives for Promoting Digital Health
5.2.3.3 IoT for COVID-19 Patient Monitoring
5.2.4 Challenges
5.2.4.1 Increase in Attack Surfaces With a Rise in IoT Devices Due to Data Security Constrictions
5.2.4.2 Integration of Multiple Devices and Protocols Leading to Data Overload and Accuracy
5.2.4.3 Cost of the Technology
5.3 Use Cases
5.3.1 Use Case 1: Connected Healthcare
5.3.2 Use Case 2: Asset Tracking
5.3.3 Use Case 3: Remote Patient Monitoring
5.4 Industry Trends
5.4.1 Evolution
5.4.2 Regulatory Implications
5.4.2.1 ISO Standards - ISO 27799:2008 and ISO/TR 27809:2007
5.4.2.2 Internet of Medical Things Resilience Partnership Act (2017)
5.4.2.3 Health Insurance Portability and Accountability Act
5.4.2.4 HIPAA Privacy Rule
5.4.2.5 HIPAA Security Rule
5.4.2.6 CEN ISO/IEEE 11073
5.4.2.7 CEN/CENELEC
5.4.3 Impact of COVID-19 on IoT Adoption in Healthcare
5.4.3.1 Key Use Cases

6 IoT in Healthcare Market, by Component
6.1 Introduction
6.2 Medical Devices
6.3 Systems and Software
6.4 Services

7 IoT in Healthcare Market, by Application
7.1 Introduction
7.2 Telemedicine
7.3 Clinical Operations and Workflow Management
7.4 Connected Imaging
7.5 Inpatient Monitoring
7.6 Medication Management
7.7 Others

8 IoT in Healthcare Market, by Connectivity Technology
8.1 Introduction
8.2 Wi-Fi
8.3 Bluetooth Low Energy
8.4 Zigbee
8.5 Near Field Communication
8.6 Cellular
8.7 Satellite

9 IoT in Healthcare Market, by End-user
9.1 Introduction
9.2 Hospitals, Surgical Centers, and Clinics
9.3 Clinical Research Organizations
9.4 Government and Defense Institutions
9.5 Research and Diagnostic Laboratories

10 IoT in Healthcare Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 Latin America

11 Competitive Landscape
11.1 Introduction
11.1.1 New Product Launches and Product Enhancements
11.1.2 Agreements and Partnerships
11.2 Market Ranking of Key Players

12 Company Profiles
12.1 Introduction
12.2 Cisco
12.3 IBM
12.4 GE Healthcare
12.5 Microsoft
12.6 SAP
12.7 Medtronic
12.8 Royal Philips
12.9 Resideo Technologies
12.10 Capsule Technologies
12.11 Stanley Healthcare
12.12 Bosch
12.13 Armis
12.14 Oracle
12.15 PTC
12.16 Huawei
12.17 Siemens
12.18 R-Style Lab
12.19 HQSoftware
12.20 Oxagile
12.21 Softweb Solutions
12.22 OSP Labs
12.23 Comarch SA
12.24 Telit
12.25 Kore Wireless
12.26 Sciencesoft
12.27 Intel
12.28 Agamatrix
12.29 Welch Allyn

For more information about this report visit https://www.researchandmarkets.com/r/q4qq48

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