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Evolution of complementing technologies such as artificial intelligence and big data in healthcare sector is a major factor driving market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, June 27, 2023/EINPresswire.com/ -- The global Internet of Things (IoT) in Healthcare Market size was USD 108.40 Billion in 2022 and is expected to register a revenue CAGR of 17.50% during the forecast period, according to latest analysis by Emergen Research. The global Internet of Things (IoT) in healthcare market revenue growth is driven by factors such as rising adoption of Internet of Medical Things (IoMT) in healthcare industry, growing need for cost control measures in healthcare, government initiatives for promoting digital health, and increasing adoption of high-speed network technologies for IoT connectivity in healthcare sector.

The healthcare sector is changing as disruptive new technologies are emerging and major companies operating in this industry are adopting advanced technologies. The Internet of Things, also known as IoT, is a vast network of compact, intelligent objects that are interconnected via the Internet. The human senses can sense further with these gadgets. IoT has made it possible for connected healthcare systems, which when combined with big data, have evolved into systems that are intelligent and predictive. IoT and big data convergence is a new paradigm in healthcare systems.

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The Internet of Things (IoT) can transform traditional paper-based healthcare treatment by facilitating access to real-time medical data and remote patient monitoring. The introduction of this modern technology in healthcare has addressed riding demand for improved diagnoses and focused therapy solutions. It also serves as a health and wellness tracker for athletes, a dosing reminder for patients, and a remote patient monitoring tool for doctors. The IoT in healthcare industry is in high demand due to effective application of IoT in remote monitoring of diabetes and asthma patients as well as the increasing penetration of fitness and wellness gadgets.

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

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

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

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

Key Highlights from the Report

The medical devices segment accounted for a significantly large revenue share in 2022. The increasingly decentralized character of health and healthcare, which does away with the need for in-person visits, is made possible by medical IoT. Medical IoT offers new opportunities for healthcare professionals to improve patient care and manage intrinsically complex structures of the healthcare business through improved automation, safety, and other technology developments. A network of wireless, integrated, and connected digital devices known as medical IoT has enormous promise for the development of global healthcare industry.

The telemedicine segment accounted for a moderately large revenue share in 2022. The telemedicine segment is further divided into interactive telemedicine and remote patient monitoring. Remote Patient Monitoring (RPM), is expanding quickly and is one of the biggest growth areas for IoT usage in healthcare. Nearly 90% of healthcare providers have already invested in or plan to invest in RPM. Remote patient monitoring technologies improve clinical and patient experiences, which leads to improved outcomes and lower costs. Remote patient monitoring is a form of telemedicine that uses digital technology to make it simpler to gather, transmit, evaluate, and disseminate patient health data. It uses wearable sensors, implantable gadgets, and handheld equipment.

Market in North America accounted for largest revenue share in 202 Revenue growth of the market in this region is due to the extensive usage of healthcare IT solutions, presence of significant businesses, and availability of cutting-edge infrastructure. As a result of improvements in healthcare technology, the region has witnessed an increase in consumer engagement and awareness. Need for remote treatment has consequently grown dramatically. Hospitals will be able to improve care while focusing on overall expense reduction due to IoT in the healthcare sector. Nowadays, fitness bands, blood pressure monitors, heart rate monitors, glucometers, and other more advanced smart medical devices can provide patients with real-time, customized health status information.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Internet of Things in Healthcare market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are:

Medtronic, Cisco Systems, Inc., IBM Corporation, GE Healthcare, Microsoft, SAP, Infosys Limited, Oracle, Qualcomm Technologies, Inc., Intel Corporation.

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Internet of Things in Healthcare Market Segmentation

Emergen Research has segmented the global Internet of Things (IoT) in healthcare market on the basis of component, technology, application, end-use, and region:

Component Type Outlook (Revenue, USD Billion; 2019-2032)

Medical Devices

Stationary Medical Devices

Implanted Medical Devices

Wearable External Medical Devices

Systems & Software

Remote Device Management

Network Bandwidth Management

Data Analytics

Application Security

Network Security

Services

Deployment & Integration

Consulting

Support & Maintenance

Technology Outlook (Revenue, USD Billion; 2019-2032)

Wi-Fi

Bluetooth Low Energy

ZIGBEE

Near-Field Communication

Cellular

Satellite

Application Outlook (Revenue, USD Billion; 2019-2032)

Telemedicine

Remote Patient Monitoring

Interactive Telemedicine

Clinical Operations & Workflow Management

Connected Imaging

In-Patient Monitoring

Medication Management

Other Applications

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ToC of the Report:

Chapter 1: Market overview and scope

Chapter 2: Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Market segmentation based on type applications

Chapter 9: Current and Future Trends

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