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The global market for IoT in healthcare is being driven by robust advancements in computing technologies aided by large-scale funding by several private and public organisations to support these progressions. IoT has been reshaping several medical procedures using predictive and cognitive analysis, thereby promoting enhanced reliability. In line with this, monitoring systems equipped with IoT are positively influencing market growth. Wearable devices such as heart monitors can determine a patient’s blood pressure and can instantly notify healthcare providers or family members in case of shifting health trends through smartphone applications, which is likely to bolster the growth of the market. Additionally, when patients are experiencing arrhythmias, palpitations, strokes, or full-blown heart attacks, an ambulance can be dispatched in time. These are some of the factors pushing the growth of the market.
Medigate, a leading company in the global market for IoT in Healthcare, recently announced a partnership with Rapid7 (NASDAQ: RPD) in March 2021 to secure real-time health. Under the partnership, Medigate’s IoT security platform would integrate with Rapid7 Insight VM and Nexpose vulnerability management systems, allowing HDOs, clinics, and other HIPAA-covered entities a secure way to manage connected assets. Such developments are leading to the growth of the market.
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The major players in the global IoT in the healthcare market are Medtronic, Cisco Systems, Inc., General Electric Company, International Business Machines (IBM) Corporation, Microsoft, and Cerner Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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