Internet of Things Market in the healthcare sector to grow by USD 161.6 billion from 2022 to 2027, Growth Driven by Increasing Remote Patient Monitoring- Technavio

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The internet of things market in the healthcare sector by component (medical devices, software, system applications, and connecting technologies), application (telemedicine, patient monitoring, clinical operation, workflow management, and connected imaging and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027 report has been added to technavio offering. The potential growth difference for the Internet of Things market in the healthcare sector from 2022 to 2027 is USD 161.6 billion. With ISO 9001:2015 certification, Increasing remote patient monitoring is a key factor driving market growth. Access to healthcare facilities in some countries is difficult, as most residents live away from hospitals. In addition, it is difficult for patients over the age of 60 to visit the hospital regularly. In this way, remote patient care by the Internet of Things will solve these types of problems. Moreover, the main advantage of telemedicine is that it allows health professionals to access patients by means of sensors and remote equipment to help them with their prescriptions, obtain medication, or measure biometrics. Hence, these factors are expected to drive market growth during the forecast period. Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the Full Report Here

Internet of Things Market in the Healthcare Sector - Market Dynamics

• Increasing threats to cybersecurity is a significant challenge restricting market growth. Cybersecurity threats are not only making it easier for end users to use IoT capabilities such as predictive maintenance and smart analytics; they also expose the system to different cyber threats. Attacks of malicious software and data breaches are among the most significant cyber threats. Cyber security threats are still present in web systems, and the same applies to the Internet of Things devices. Different anti-malware programs promise to protect industry systems from this kind of attack. But, to protect an Industrial System against hackers, it is not possible to use such Antimalware Programs. Furthermore, the use of cloud-based cyber security solutions was suggested by some Internet of Things solution providers. However, concerns remain about the security of such solutions. Hence, these factors are expected to restrict market growth during the forecast period Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

Internet of Things Market in the Healthcare Sector - Segment 

• The medical devices segment is estimated to witness significant growth during the forecast period. Remote monitoring of healthcare and the provision of early convenient treatment and personalized care are now possible due to the development of IoT-enabled medical devices, allowing for their deployment by doctors. These devices are placed in an individual's body so that specific information on physiology can be measured. In addition, the collection of data, analysis for research, and observation of electronic medical records made available by medical devices is one of the main applications of the IoT. Hence, these factors are expected to drive segment growth during the forecast period.
• North America is estimated to contribute 35% to the growth of the global market during the forecast period. The US is the major contributor to the market in the region. This is due to high healthcare expenditure and the adoption of advanced technologies. View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Internet of Things Market in the healthcare sector:

Aeris Communications Inc., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Furukawa Electric Co. Ltd., General Electric Co., Hewlett Packard Enterprise Co., Honeywell International Inc., Intel Corp., International Business Machines Corp., Koninklijke Philips N.V., Microsoft Corp., Oracle Corp., PTC Inc., Robert Bosch GmbH, SAP SE, Siemens AG, Thales Group, and Wipro Ltd.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Component

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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