According to a new report, published by KBV research, The Global IoT Medical Devices Market size is expected to reach $251.9 billion by 2030, rising at a market growth of 29.5% CAGR during the forecast period.
The Vital Sign Monitoring System segment is leading the Global IoT Medical Devices Market by Product in 2022; thereby, achieving a market value of $56.6 billion by 2030. Monitoring the patient's vital signs is a regular and crucial part of patient care. It can help spot early patient deterioration before a life-threatening incident occurs. With the help of robust sign monitoring, physicians have the knowledge they need to make choices that will enhance patient care and results.
The Bluetooth segment is capturing a CAGR of 29.7% during (2023 - 2030). The Bluetooth-enabled device may securely connect to a smartphone and incorporate into this incredibly potent human interface. New functionalities like data reporting and issuing warnings in the event of incorrect user usage are also made possible by Bluetooth medical devices.
The Stationary Medical Devices segment is generating the highest revenue in the Global IoT Medical Devices Market by Type in 2022; thereby, achieving a market value of $97.9 billion by 2030. Government mandates requiring the use of EHR, the high price of these devices, and the benefits they provide regarding data accessibility can all be ascribed for the growth of the segment. Stationary IoT devices can assist in optimizing resource allocation within healthcare facilities.
The Nursing homes, assisted living facilities, long-term care centers & home care settings segment would showcase a CAGR of 29.7% during (2023 - 2030). The majority of the IoT medical devices market is made up of nursing homes, assisted living facilities, long-term care institutions, home care settings, and other end users. The need for prolonged treatment for some chronic diseases, patients' increasing preference for participatory and preventive care, the high cost of hospital stays, and the rising number of these healthcare facilities are all factors in this segment's rapid growth.
The North America region dominated the Global IoT Medical Devices Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $88.5 billion by 2030. The Europe market is anticipated to grow at a CAGR of 29.3% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 30.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/iot-medical-devices-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, GE HealthCare Technologies, Inc., Koninklijke Philips N.V., Abbott Laboratories, Boston Scientific Corporation, Omron Corporation, Baxter International, Inc. (Hill-Rom Holdings, Inc.), Johnson & Johnson, Nihon Kohden Corporation and Siemens Healthineers AG (Siemens AG).
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By Connectivity Technology
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By End User
By Geography
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