According to a new report, published by KBV research, The Global Internet of Things in Healthcare Market size is expected to reach $606.7 billion by 2028, rising at a market growth of 16.5% CAGR during the forecast period.
The Clinical Research Organizations segment is showcasing a CAGR of 16.7% during (2022 - 2028). The adoption of Internet of Things (IoT) technologies to improve the precision of clinical research is a prominent factor driving the industry. In addition, CROs have expanded the usage of these technologies for enhancing patient retention & recruitment processes, which are possible problems in clinical research. Thus, these characteristics are anticipated to propel the segment throughout the forecast period.
The Telemedicine segment acquired maximum revenue share in the Global Internet of Things in Healthcare Market by Application in 2021 thereby, achieving a market value of $168.6 billion by 2028. Major contributors to the segment's share are the growing prevalence of chronic conditions and the increased demand for patient monitoring. Furthermore, current improvements in telemedicine technology and the introduction of telemedicine services drive demand for Internet of Things (IoT) solutions.
The Cellular segment has shown the growth rate of 15.6 % during (2022 - 2028). There are numerous applications for cellular networks. For example, in healthcare, they are utilized for remote patient monitoring since they enable the collection and real-time availability of device data to healthcare experts. Hence, it is considered a more expedient, secure, and accommodating remote monitoring connectivity solution. Moreover, cellular networking technology improves the usefulness, versatility, and portability of connected medical devices.
The Medical Devices segment is leading the Global Internet of Things in Healthcare Market by Component in 2021 thereby, achieving a market value of $218.9 billion by 2028. This is ascribed to the widespread use of medical devices due to the growing demand for effective and affordable solutions for providing healthcare services. In addition, a continuous stream of real-time health data, such as heart rate, glucose monitoring, and blood pressure, is provided to healthcare experts owing to the connection of medical devices with IoT sensors.
The North America market dominated the Global Internet of Things in Healthcare Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $254.8 billion by 2028. The Europe market is exhibiting a CAGR of 16% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 17.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/internet-of-things-in-healthcare-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Medtronic PLC, Cisco Systems, Inc., GE HealthCare Technologies, Inc., Microsoft Corporation, SAP SE, Infosys Limited, Oracle Corporation (Cerner Corporation), Qualcomm Inc. (Qualcomm Technologies, Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), Wipro Limited, and Intel Corporation.
By End-use
By Application
By Connectivity Technology
By Component
By Geography
Companies Profiled
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