What is the global market size of IoT In Healthcare Market?

IoT in Healthcare Market size was valued at USD 108.40 billion in 2022 and is poised to grow from USD 127.70 billion in 2023 to USD 473.54 billion by 2031, growing at a CAGR of 17.8% in the forecast period (2024-2031).

Who are the key vendors in the IoT In Healthcare Market?

The Global IoT in Healthcare Market are characterized by a fragmented landscape and fierce competition among industry participants. The players have focused their efforts on bolstering their IoT in Healthcare Market position through mergers and acquisitions, alliances, and global development. These techniques assist businesses in expanding their geographic reach and improving their service offerings in both domestic and foreign markets. 'AdhereTech', 'Capsule Technologies, Inc.', 'Cerner Corporation', 'Cisco Systems, Inc.', 'GE Healthcare', 'Honeywell International, Inc.', 'IBM Corporation', 'Intel Corporation', 'Koninklijke Philips N.V.', 'Medtronic Plc', 'Microsoft Corporation', 'NXP Semiconductors N.V.', 'Qualcomm Life, Inc.', 'Siemens AG', 'STMicroelectronics N.V.', 'Telit Communications PLC', 'Terumo Corporation', 'Texas Instruments Incorporated', 'Welch Allyn, Inc. (A Hill-Rom Company)', 'Zebra Technologies Corporation'

What is the key driver of IoT In Healthcare Market?

The global IoT in healthcare market is driven by rising cases of chronic diseases such as genetic diseases, respiratory diseases, COPD, and others. The market is also growing due to favorable government policies and high internet accessibility. demand for disease management and cost efficient treatments is supporting the need for smart devices and wearables.

What is the key market trend for IoT In Healthcare Market?

People all over the world are becoming more aware of self-health management as early-life issues become more prevalent. The growing health-consciousness of the young and active population is driving the adoption of wearable devices. With the introduction of wearable medical devices, it has become much easier and more convenient to monitor health concerns. According to the International Diabetes Federation (IDF), the majority of the world is affected by diabetic issues. Nonetheless, 46% of patients are not diagnosed on time. As a result, people are increasingly turning to wearable medical devices to conduct regular health checks.

Which region accounted for the largest share in IoT In Healthcare Market?

The North American segment accounted for a key share in 2020 and is predicted to continue this trend due to rapid technological advancements, increasing investments from top players, supportive government regulations, and a rise in the prevalence of chronic diseases, and the demand for cost-effective disease management. In contrast, Asia-Pacific is expected to register a CAGR of 17.40% during the forecast period. There are several reasons for this, including rapidly changing healthcare infrastructure in developing countries like India and China, a large patient population, public awareness, and increasing healthcare spending.

IoT In Healthcare Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to iot in healthcare market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

IoT In Healthcare Market News

in IOT in Healthcare Market

In January 2024, With the integration of AI-driven analytics for improved picture interpretation, Siemens Healthineers unveiled a cutting-edge Internet of Things solution for smart imaging diagnostics. This innovation facilitates remote consultations and real-time data sharing, allowing for more precise and effective diagnostic procedures. It also optimises efficiency and enhances patient care through creative connectivity.
In April 2024, To make managing chronic diseases easier, Philips has introduced a new platform for remote patient monitoring that incorporates Internet of Things technologies. This platform makes use of wearable technology and mobile apps to give medical personnel access to ongoing patient data. This allows for faster interventions and individualized care, which enhances patient engagement and improves clinical outcomes.
In June 2024, The most recent IoT-enabled glucose monitoring device from Medtronic was just released, giving patients and medical professionals access to real-time data. By providing continuous glucose monitoring and actionable insights, as well as by leveraging enhanced connectivity and data analytics to improve patient outcomes and treatment efficiency, this breakthrough seeks to improve the management of diabetes.

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FAQs

IoT In Healthcare Market size was valued at USD 252.1 Billion in 2023 and is poised to grow from USD 294.45 Billion in 2024 to USD 1082.62 Billion by 2032, growing at a CAGR of 16.8% during the forecast period (2025-2032).

The fierce competition between the top technology and healthcare businesses characterises the global IoT in healthcare industry. Medtronic, GE Healthcare, Philips, Siemens Healthineers, and IBM Watson Health are important participants. By improving healthcare delivery and operational efficiency, these companies foster innovation through cutting-edge IoT solutions for telemedicine, data analytics, and patient monitoring. Common tactics to keep a competitive edge and increase market presence include strategic alliances, acquisitions, and R&D expenditures. 'AdhereTech (US) ', 'Capsule Technologies, Inc. (US) ', 'Cerner Corporation (US) ', 'Cisco Systems, Inc. (US) ', 'GE Healthcare (US) ', 'Honeywell International, Inc. (US) ', 'IBM Corporation (US) ', 'Intel Corporation (US) ', 'Koninklijke Philips N.V. (Netherlands) ', 'Medtronic Plc (Ireland) ', 'Microsoft Corporation (US) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Qualcomm Life, Inc. (US) ', 'Siemens AG (Germany) ', 'STMicroelectronics N.V. (Switzerland) ', 'Telit Communications PLC (US)'

The healthcare sector has unavoidably been impacted by the Internet of Things. The number of health-connected devices and the connected medical device market are rising as connected technology permeates more aspects of daily life, according to the healthcare sector. With the use of linked medical equipment and medical mobile applications, IoMT connects people (patients, clinicians, and carers) and data (patient information or performance data).

AI and IoT in Personalized Therapy and Predictive Analytics: One of the main trends in the worldwide IoT in healthcare industry is the rise of wearable health devices. Leading the way are businesses like Apple and Fitbit, which provide cutting-edge monitoring solutions that track physical activity and vital signs. These gadgets improve data gathering and patient self-management for improved medical results.

North America's sophisticated technology infrastructure, large healthcare spending, and robust legislative support have allowed it to lead the world's IoT in healthcare sector. Thanks to large investments in R&D and innovation, the region has a high adoption rate of cutting-edge healthcare technology, including IoT. To improve patient care and operational efficiency, top IT businesses and healthcare organizations in North America are leading the way in IoT solutions for telemedicine, data analytics, and patient monitoring. The market is further propelled by encouraging government programmes and activities targeted at enhancing the quality and accessibility of healthcare.