Hospitals IoT News

Cost-Effective Healthcare Facilities Give a Boost to Adoption of IoT

The adoption of IoT in Healthcare technology is constantly increasing with the increased demand for cost-effective healthcare facilities and better patient care. The continuous growth of the market is attributed to the increasing adoption of smart devices and improving IoT infrastructure worldwide.

Global IoT in Healthcare market was estimated at US $20.2 billion in 2015. This market is expected to grow at a CAGR of 21.2% between 2016 and 2025, to reach US $135.9 Billion in 2025.

The global IoT in Healthcare market has been segmented by Solution into medical systems & devices; and software solutions & tools. The medical systems & devices market is further sub-segmented into on-body wellness, on-body healthcare and implanted devices. Furthermore, the software solutions & tools market is sub-segmented into data analytics tools & solutions, network management solutions and security solutions. On the basis of services, the market is bifurcated into professional and integration services.

The application segment of IoT in Healthcare market is classified into medication management, patient monitoring, fitness & wellness measurement, clinical workflow management and others. Also, by end-user, the market is categorized into patients & individuals, diagnostic & research centers and labs, hospitals & healthcare institutes and government authority. The hospital & healthcare institutes under end-user segment had accounted for the largest share of the IoT in Healthcare market in 2015 and is expected to continue its dominance to grow at the highest CAGR of 21.7% between 2016 and 2025.

In the application segment, patient monitoring segment had the largest share of the IoT in Healthcare market in 2015 and is anticipated to grow at the highest CAGR between 2016 and 2025.

The geographic segments included in this report are North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).

The major industry players in the IoT in Healthcare market include GE Healthcare (US), IBM Corp. (US), Koninklijke Philips N.V. (Netherlands), Medtronic plc. (Ireland), Microsoft Corporation (US), Proteus Digital Health, Inc. (US), Qualcomm Life, Inc. (US), Siemens Healthcare GmbH (Germany), STANLEY Healthcare (US) and Verily Life Sciences LLC (US).

Neha Pandey
Neha Pandey
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.