IoT in Healthcare: Bridging the Gap Between Patients and Providers - Medtronic, Cisco Systems, Inc., IBM Corporation.

The Global IoT (Internet of Things) In Healthcare Market reached USD 120.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 390.2 billion by 2031. The global IoT in healthcare market is expected to exhibit a CAGR of 16.4% during the forecast period (2024-2031).

IoT in Healthcare Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Internet of Things (IoT) in healthcare refers to the use of connected medical devices, wearables, and smart sensors to monitor patient health, automate medical workflows, and enhance remote healthcare delivery. IoT enables real-time patient monitoring, predictive analytics, and telemedicine services, improving efficiency and patient outcomes. The market is growing due to advancements in AI, 5G connectivity, and increasing demand for digital health solutions. Challenges such as data security and regulatory compliance are shaping the adoption of IoT in healthcare. Future trends include AI-driven diagnostics and blockchain-based patient data management.

List of the Key Players in the IoT in Healthcare Market:

Medtronic, Cisco Systems, Inc., IBM Corporation, GE Healthcare, Microsoft Corporation, SAP SE, Infosys Limited, Cerner Corporation, QUALCOMM Incorporated, and Wipro ltd among others.

Industry Development:

On November 7, 2022, OXY AID launched India's first IoT-enabled mobile medical oxygen plant, a groundbreaking development in the country's healthcare infrastructure. This mobile, containerized oxygen-generating truck is equipped with Internet of Things (IoT) capabilities, offering an innovative solution for providing oxygen in areas with limited access to medical resources.

Market Dynamics:

Advancements in IoT technology, particularly in wearables, remote monitoring devices, and connected healthcare systems, have significantly impacted the healthcare sector, driving IoT adoption. Smartwatches and fitness trackers, which monitor vital signs such as heart rate, blood pressure, and sleep patterns in real-time, have gained widespread popularity. IoT-enabled wearables also provide healthcare professionals with accurate, up-to-date patient health data, allowing for early detection of potential health risks and timely intervention, thereby boosting market demand. In line with this trend, boAt, in collaboration with Singapore-based KaHa Technologies, has developed next-generation smartwatches that utilize AI-driven algorithms to deliver personalized health insights beyond conventional hospital-based data. These wearables track sleep and energy scores, stress and HRV monitoring, and nightly respiration rates, enhancing preventive and customized healthcare solutions.

Growth Forecast Projected:

The Global IoT in Healthcare Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global IoT in Healthcare Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the IoT in Healthcare Market:

By Component: Medical Devices, Systems and Software, Services.

By Application: Telemedicine, Telemedicine, Clinical Operations and Workflow Management, Connected Imaging, Inpatient Monitoring, Medication Management, Others.

By End User: Hospitals and Clinics, Clinical Research Organizations, Research and Diagnostic Laboratories, Others.

Regional Analysis for IoT in Healthcare Market:

The regional analysis of the IoT in Healthcare Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the IoT in Healthcare market?

➠ Who are the leading manufacturers in the global IoT in Healthcare industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global IoT in Healthcare industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the IoT in Healthcare market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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