Global Internet of Things in Healthcare Market (2016-2024)- Research Nester
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<strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> <strong>in</strong> <strong>Healthcare</strong><br />
<strong>Market</strong>: Industry Insights & Opportunity<br />
Evaluation, 2017-<strong>2024</strong><br />
Copyright © <strong>Research</strong> <strong>Nester</strong>
<strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (IOT) In <strong>Healthcare</strong> <strong>Market</strong> Overview<br />
<strong>Internet</strong> <strong>of</strong> th<strong>in</strong>gs is spread<strong>in</strong>g their w<strong>in</strong>gs <strong>in</strong> every sector and<br />
healthcare is one <strong>of</strong> them. <strong>Internet</strong> <strong>of</strong> th<strong>in</strong>gs <strong>of</strong>fers various<br />
benefits <strong>in</strong> healthcare sectors such as improved medical care,<br />
reduced overall cost, better efficiency and also m<strong>in</strong>imized<br />
human errors. Moreover, <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare is also<br />
improv<strong>in</strong>g relation between patient and doctor by <strong>of</strong>fer<strong>in</strong>g<br />
better communication medium. <strong>Internet</strong> <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare<br />
sector has been help<strong>in</strong>g hospitals and cl<strong>in</strong>ics to keep their<br />
patient safe and healthy. Further, hospitals and cl<strong>in</strong>ics can use<br />
<strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs to keep track <strong>of</strong> <strong>in</strong>ventory.<br />
<strong>Market</strong> Size & Forecast<br />
<strong>Global</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare market is anticipated to<br />
flourish at a compound annual growth rate (CAGR) <strong>of</strong> 32.2%<br />
over the forecast period i.e. 2017-<strong>2024</strong>. The global market <strong>of</strong><br />
<strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare stood at revenue <strong>of</strong> around<br />
USD 42.7 Billion <strong>in</strong> <strong>2016</strong> and is expected to reach at a valuation<br />
<strong>of</strong> about USD 162.2 Billion by the end <strong>of</strong> <strong>2024</strong>. Increas<strong>in</strong>g<br />
expenditure <strong>in</strong> healthcare sector and technological<br />
advancement <strong>in</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs are some major factors<br />
which are foster<strong>in</strong>g the growth <strong>of</strong> global <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong><br />
healthcare market dur<strong>in</strong>g the forecast period.<br />
Copyright © <strong>Research</strong> <strong>Nester</strong>
Asia Pacific region is expected to be the fastest<br />
grow<strong>in</strong>g market <strong>of</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare<br />
over the forecast period. This rapid growth <strong>of</strong> Asia<br />
Pacific region can be attributed to factors such as<br />
<strong>in</strong>creas<strong>in</strong>g disposable <strong>in</strong>come <strong>of</strong> consumers,<br />
expand<strong>in</strong>g <strong>in</strong>vestment <strong>in</strong> research & development <strong>of</strong><br />
healthcare sector and emergence <strong>of</strong> new advanced<br />
IT-healthcare services <strong>in</strong> this region.<br />
<strong>Market</strong> Segmentation<br />
Our-<strong>in</strong> depth analysis <strong>of</strong> the global <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs<br />
<strong>in</strong> healthcare market <strong>in</strong>cludes the follow<strong>in</strong>g<br />
segments:<br />
By Component<br />
Medical Devices<br />
System & S<strong>of</strong>tware<br />
Service & Hardware<br />
Connectivity Technology<br />
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By Technology<br />
Bluetooth Low Energy (BLE)<br />
Wi-Fi<br />
Zigbee<br />
Near Field Communication<br />
Cellular<br />
By Application<br />
Cl<strong>in</strong>ical operations<br />
Telemedic<strong>in</strong>e<br />
Inpatient Monitor<strong>in</strong>g<br />
Medication Management<br />
Connected Imag<strong>in</strong>g<br />
Work Flow Management<br />
By Region<br />
<strong>Global</strong> smart wearable device market is further classified on<br />
the basis <strong>of</strong> region as follows:<br />
North America (U.S. & Canada) <strong>Market</strong> size, Y-O-Y growth &<br />
Opportunity Analysis<br />
Lat<strong>in</strong> America (Brazil, Mexico, Rest <strong>of</strong> Lat<strong>in</strong> America) <strong>Market</strong><br />
size, Y-O-Y growth & Opportunity Analysis<br />
Europe (U.K., Germany, France, Italy, Spa<strong>in</strong>, Hungary, Belgium)<br />
<strong>Market</strong> size, Y-O-Y growth & Opportunity Analysis<br />
Copyright © <strong>Research</strong> <strong>Nester</strong>
Growth Drivers & Challenges<br />
<strong>Global</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare market is primarily driven<br />
by the factors such as <strong>in</strong>creas<strong>in</strong>g expenditures <strong>in</strong> research and<br />
development <strong>of</strong> healthcare sector and <strong>in</strong>creas<strong>in</strong>g disposable<br />
<strong>in</strong>come <strong>of</strong> the consumers. Further, ris<strong>in</strong>g demand for <strong>in</strong>ternet <strong>of</strong><br />
th<strong>in</strong>gs <strong>in</strong> health care sector due to their beneficial abilities such as<br />
batter care <strong>of</strong> patients and track<strong>in</strong>g <strong>of</strong> <strong>in</strong>ventory coupled with<br />
technological advancement <strong>in</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs are expected to<br />
foster the growth <strong>of</strong> global <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare market<br />
over the forecast period. Additionally, <strong>in</strong>creas<strong>in</strong>g penetration <strong>of</strong><br />
critical diseases like cancer is propell<strong>in</strong>g the demand for <strong>in</strong>ternet <strong>of</strong><br />
th<strong>in</strong>gs <strong>in</strong> healthcare sector <strong>in</strong> order to provide better treatment to<br />
the patients. Moreover, use <strong>of</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> medical<br />
processes like telemedic<strong>in</strong>e and impatient monitor<strong>in</strong>g are<br />
expected to propel the growth <strong>of</strong> this market <strong>in</strong> near future.<br />
Copyright © <strong>Research</strong> <strong>Nester</strong>
Further, ris<strong>in</strong>g adoption <strong>of</strong> smart devices <strong>in</strong>clud<strong>in</strong>g smart wearable<br />
medical devices, health track<strong>in</strong>g devices is likely to foster the growth <strong>of</strong><br />
<strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare market <strong>in</strong> near future.<br />
Key Players<br />
Medtronic PLC<br />
Company Overview<br />
Key Product Offer<strong>in</strong>gs<br />
Bus<strong>in</strong>ess Strategy<br />
SWOT Analysis<br />
F<strong>in</strong>ancials<br />
Royal Philips<br />
Cisco System Inc.<br />
IBM Corporation<br />
GE <strong>Healthcare</strong><br />
Micros<strong>of</strong>t Corporation<br />
SAP SE<br />
Qualcomm Life Inc.<br />
Honeywell Life Care Solution<br />
Stanley <strong>Healthcare</strong><br />
Scope & Context<br />
Overview <strong>of</strong> the Parent <strong>Market</strong><br />
Analyst View<br />
Segmentation<br />
Copyright © <strong>Research</strong> <strong>Nester</strong>
The global <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> healthcare<br />
market is segmented as follows:<br />
By Component <strong>Market</strong> Size & Y-O-Y Growth<br />
Analysis<br />
By Technology <strong>Market</strong> Size & Y-O-Y Growth<br />
Analysis<br />
By Application <strong>Market</strong> Size & Y-O-Y Growth<br />
Analysis<br />
By Region <strong>Market</strong> Size & Y-O-Y Growth<br />
Analysis<br />
<strong>Market</strong> Dynamics<br />
Supply & Demand Risk<br />
Competitive Landscape<br />
Porter’s Five Force Model<br />
Geographical Economic Activity<br />
Key Players (respective SWOT Analysis) and<br />
their Strategies and Product Portfolio<br />
Recent Trends and Developments<br />
Industry Growth Drivers and Challenges<br />
Key Information for Players to establish<br />
themselves <strong>in</strong> current dynamic environment<br />
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