The increased demand for wearable devices as a result of the COVID-19 outbreak is expected to drive the growth of the IoT healthcare market
HYDERABAD, TELANGANA, INDIA, Sept. 21, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, forecasts that the size of the IoT healthcare market, by analysis, will increase at a CAGR of 11.8% to 89.61 during the forecast period 2022-2027, as per analysis USD billion will grow by 2027. IoT technology has the potential to transform traditional paper-based healthcare by making real-time patient data and remote patient monitoring more accessible. The advent of this digital health technology addressed the emerging need for improved diagnostics and targeted therapeutic tools. In addition, it not only enables doctors to monitor patients remotely, but also serves as a fitness and wellness tracker for athletes and as a dosage reminder for patients. The report offers a complete analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
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The central theses:
1. The medical device segment is expected to grow 27.9% annually through 2027. The rapid expansion is due to the widespread use of medical devices to implement cost-effective solutions to provide better healthcare services.
2. North America is projected to be the leading region in the IoT healthcare market in 2021, accounting for 35% of the market. North America dominated the global IoT healthcare market and this is expected to continue during the forecast period. This growth can be attributed to a variety of factors, including the increasing adoption of healthcare IT solutions, the presence of key players and the availability of sophisticated infrastructure.
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1. The global IoT healthcare market is expected to be dominated by the Medical Devices segment. The medical devices segment is expected to grow 27.9% annually through 2027. The widespread use of medical devices is due to the growing demand for cost-effective and efficient healthcare solutions.
2. Geographically, IoT Healthcare Market has been segmented into North America, Europe, APAC, South America and RoW. North America is analyzed as the key region with a share of 35% in 2021 for the IoT Healthcare Market.
3. The medication management segment is expected to grow significantly during the forecast period owing to the increasing adoption of healthcare information systems, the increasing need to reduce medication errors and improve patient safety, as well as the increasing adoption of medication management mHealth solutions.
The top 5 players in the IoT healthcare industry are –
5. Comarch SA
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A. Market for the Internet of Things
B. IoT Communication Technologies Market
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