Global IoT Healthcare Market Witnessing High Growth on account of Rising Adoption of Connected Devices and Need to Cut Costs

Published Date : Feb 21, 2018

Albany, New York, February 21, 2018: have announced the addition of a new report which is titled, “Global IoT Healthcare Market Size, Status and Forecast 2022.” According to the report, the global IoT Healthcare market is basically driven because of the improvement and evolution of artificial intelligence technology, the increasing penetration of connected devices in healthcare, and the rise in investments for the implementation of IoT healthcare solutions. Plus, the urgency to cut costs in Healthcare, the increased adoption of IoT Healthcare systems and software, and the growing need for remote monitoring of patients will take forward the IoT Healthcare market during the assessment period.

The application of IoT based solutions throughout the healthcare industry is predicted to cut down the cost of operations, improve the process of decision making, as well as get in a great degree of automation. The growing penetration of smart wearable devices with the motive of keeping a track on the bodily activities and then studying the data derived from these devices to improve the efficiency will ultimately lead to the growth of the IoT healthcare market.

The application of such solutions in the healthcare sector will improve the patient interactions, improve the operational efficiency, as well as better the streamline workflows. For example, the usage of this technology will enable the monitoring of patients and provide care directly from an ambulance or clinic. IoT is capable of reducing the risks with the help of location services where the patient’s body movements as well as the capacity of the patient to reach other individuals as well as other objects are tracked.

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In this reports, the IoT Healthcare market has been taken into consideration for Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa.
The growth rate of the Asia Pacific IoT healthcare market is robust because of the rise in the number of surgical centres as well as hospitals in this sector. Also, the growth in the need for cloud based solutions from the manufacturing and other verticals is taking the IoT healthcare market forward in this region. Countries like Indonesia, China, India are predicted to see a robust growth rate in the IoT Healthcare market.

On the basis of application, the telemedicine sector is predicted to have the biggest share of the IoT healthcare market. Telemedicine refers to the transferring and exchanging of medical information across different sites with the help of telecommunication infrastructure so as to enhance, sustain, or help in providing information about the health condition of a patient. The growth of this sector is because of the improvement in efficiency of processes and convenience for patients, while minimising their stay at the hospital.

On the basis of component, the IT healthcare market has been divided into systems and software, service technology, and medical devices. The systems and software sector is predicted to grow at the highest CAGR from 2017-2022. The IoT Healthcare systems and software consists of network bandwidth management, data analytics, network security solutions, application security, and remote device management.
Systems and software help in providing solutions to the IoT healthcare market that make the data security and autonomy very strong. This factor is taking forward the system and software sector in the IoT healthcare market.

The players in this industry are now having an eye on sensor technologies is so as to be able to diagnose, track, manage patients along with the treatment in an improved way. Plus, they are providing solutions to study the sensor data from Healthcare facilities for the optimisation of operational efficiencies.

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