Internet Of Things Market In Healthcare Market size is set to grow by USD 208.26 bn from 2024-2028,increasing remote … – PR Newswire

Searching for your content…
In-Language News
Contact Us
888-776-0942
from 8 AM – 10 PM ET
News provided by
27 Mar, 2024, 03:41 ET
Share this article
NEW YORK, March 27, 2024 /PRNewswire/ — The global internet of things market in healthcare market size is estimated to grow by USD 208.26 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 21.39% during the forecast period. The Internet of Things (IoT) market in healthcare is expanding, with companies like Blackfrog Technologies providing temperature-regulated vaccine carriers in Rajasthan. European governments invest in digital healthcare transformation, including ThermaiScan for breast cancer screening. IoT solutions offer personalized care, real-time monitoring, and increased safety, but face challenges like internet disruptions and poor access in vulnerable populations. Market players develop innovative mHealth solutions for medication management, patient engagement, and hospital stays, aiming to reduce readmissions and healthcare costs. Implementing IoT in hospitals requires a skilled workforce and technology knowledge to ensure connected technology, health-connected devices, and real-time patient monitoring function optimally.

For more insights on the historic (2018 – 2022) and forecast market size– Request a sample report
Internet Of Things Market In Healthcare Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 21.39%
Market growth 2024-2028
USD 208.26 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
18.67
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 35%
Key countries
US, China, Japan, Germany, and UK
Key companies profiled
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.
Segment Overview
This internet of things market in healthcare market report extensively covers market segmentation by Type (Medical devices, Software and system application, Connecting technologies) Application (Telemedicine, Patient monitoring, Clinical operation and workflow management, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)
Market segmentation by Type
The Internet of Things (IoT) market in healthcare is experiencing significant growth, driven by technological advancements and digital adoption. Machine Learning, Logical Methodologies, Computational Intelligence, and Data Mining are key technologies enabling this transformation. Healthcare experts, payers, and providers are leveraging these technologies to improve healthcare quality and reduce expenditures. AI and chatbot technology facilitate accurate diagnoses, efficiency, speed, and effectiveness in the global health system. Telemedicine, IoT-powered solutions, and remote patient monitoring are essential components of this digitization of healthcare. Pharmaceutical companies, medical institutions, and medical devices are integrating IoT infrastructure development to enhance their offerings. Government participation, automation, and IoT-enabled tracking, tracing, and monitoring patients are crucial in addressing the lack of awareness and technical expertise in rural areas and developing economies. IoT solutions are proving invaluable during lockdowns and movement restrictions, enabling medical consultations and device unit management on internet platforms. Market trends indicate continued digital health adoption and pandemic management through IoT-powered telemedicine solutions.
Geography Overview
The Internet of Things (IoT) market in North America’s healthcare sector is expected to grow significantly during the forecast period due to high healthcare expenditure and advanced technology adoption, including IoT. Data security and privacy are paramount concerns in this sector, as sensitive data is frequently transmitted and stored. Telemedicine segment is a major contributor to market share, with high-speed internet connections and high-definition video cameras enabling remote consultations. Organizational efforts to implement paperless EHRs, driven by government models and policy changes, are boosting IoT adoption. Reimbursement models are evolving to accommodate digital healthcare technology, such as specialized software, platforms, and connected devices. IoT applications include telemedicine, diagnostics, therapeutic tools, remote patient monitoring, dosing reminders, and more. Big data analytics and device accuracy are crucial for effective connectivity and improving patient outcomes. Despite these benefits, cyberattacks pose a threat to IoT devices and the sensitive data they transmit. Healthcare providers and medical devices are increasingly adopting cloud-based platforms to mitigate risks and enhance interoperability across healthcare verticals. IoT applications in healthcare market include healthcare information systems, big data, and digital healthcare technology.
Insights on the market contribution of various segments including country and region wise, historic (2018 – 2022) and forecast market size– Download a Sample Report
Insights on Market Drivers, trends, & Challenges, historic period(2018 – 2022) and forecast period(2024-2028)- Request a sample report!
Research Analysis
research_analysis
Market Research Overview
The Internet of Things (IoT) market in healthcare is experiencing significant growth, with various devices and technologies revolutionizing the industry. IoT solutions in healthcare include wearable devices, telemedicine systems, and remote monitoring systems. These technologies enable real-time patient data collection, analysis, and actionable insights, leading to improved patient outcomes and reduced healthcare costs. IoT devices in healthcare can monitor vital signs, track medication adherence, and provide early warning systems for potential health issues. Additionally, IoT systems can facilitate remote consultations, enabling healthcare professionals to diagnose and treat patients from a distance. The IoT market in healthcare is expected to continue expanding, with a focus on developing more advanced and integrated solutions to meet the evolving needs of the healthcare industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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
The global shoe care products market size is estimated to grow by USD 239.32 mn from 2024 to 2028, according to Technavio. The market is estimated to …
The residential air quality control services market size is set to witness significant growth between 2023 and 2027, with a projected increase of USD …
Health Care & Hospitals
Computer & Electronics

source

About The Author

admin

See author's posts