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Global IoT in Healthcare Market: By Component: Medical Devices, System and Software, Services; By Connectivity Technology: Wi-Fi, Bluetooth Low Energy, ZigBee, Others; By End Use; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global IoT in Healthcare Market Outlook
The global IoT in healthcare market attained a value of more than USD 177.64 billion in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 17.49% to reach over USD 467.25 billion by 2027.
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IoT enabled Remote Monitoring to Provide Impetus to the Market Growth of IoT in Healthcare
The global market for IoT in healthcare is being robustly driven by the advancement in digital technology. IoT in healthcare has been rapidly revolutionising the medical infrastructure with the introduction of IoT enable devices like sensors, wearables, and monitoring devices. In addition to this, the market growth can further be associated with the partnership of IoT with Artificial Intelligence (AI) and Big Data that allows for data-driven predictions. Additionally, the advanced digital technology allows physicians to observe patients’ health trends enabling them to arrive at a rapid analysis of raw data. Thus, the accuracy of analysis is a key factor escalating the market growth of IoT in healthcare.
Furthermore, IoT in healthcare has made remote patient monitoring plausible by providing robust opportunities for physicians to deliver superlative care and keep patients safe and healthy. In line with this, the advent of the coronavirus pandemic has been fuelling the market growth of IoT in healthcare owing to the implementation of social distancing to prevent the spread of infection. Applications such as telemedicine and wearables are actively gaining popularity and boosting the market growth. In addition, it has also reduced the length of hospital stay and readmissions, thereby significantly reducing costs. Hence, these are some of the factors escalating the market growth of IoT in healthcare.
IoT in Healthcare: Market Segmentation
IoT in healthcare is defined as a network of connected medical devices like sensors, medical equipment, and diagnostic devices that enable the exchange and analysis of data through the internet.
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Based on component, the market can be divided into:
- Medical Devices
- System and Software
- Services
The market, based on connectivity technology, can be segmented into:
- Wi-Fi
- Bluetooth Low Energy
- ZigBee
- Near Field Communication
- Cellular
- Satellite
On the basis of end use, the market can be categorised into:
- Clinical Research Organisation
- Hospitals and Clinics
- Research and Diagnostic Laboratories
- Others
Based on application, the market can be classified into:
- Telemedicine
- Medication Management
- Clinical Operations
- Inpatient Monitoring
- Connected Imaging
- Others
The EMR report looks into the regional markets of IoT in healthcare like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Introduction of Surgical Robots to Push the Market Growth of IoT in Healthcare
The growth in the global market for IoT in healthcare is expected to be driven by the advancements in medical equipment. The development of IoT and AI-driven robots to assist or perform independent surgeries are predicted to positively influence the growth of the market in the coming years. IoT enabled robots have been robustly gaining popularity in surgeries like orthopaedics and urology, among others, which are further expected to occupy a substantial share in the overall growth of the market.
The popularity of surgical robots can be characterised by minimum procedures and reduced risk of errors. In addition to this, with the developing digital technology, the introduction of IoT applications designed to guide surgical robots to perform surgeries safely and efficiently is pushing the growth of the market. Moreover, the market growth can further be linked to robust advancements in the healthcare structures by various developed and developing nations.
Key Industry Players in the Global IoT in Healthcare Market
The report presents a detailed analysis of the following key players in the global IoT in healthcare market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Medtronic
- Cisco Systems, Inc.
- General Electric Company
- International Business Machines (IBM) Corporation
- Microsoft
- Cerner Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Connectivity Technology, End Use, Application, Region |
| Breakup by Component | Medical Devices, Systems and Software, Services |
| Breakup by Connectivity Technology | Wi-Fi, Bluetooth Low Energy, ZigBee, Near Field Communication, Cellular, Satellite |
| Breakup by End Use | Clinical Research Organisation, Hospitals and Clinics, Research and Diagnostic Laboratories, Others |
| Breakup by Application | Telemedicine, Medication Management, Clinical Operations, Inpatient Monitoring, Connected Imaging, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Medtronic, Cisco Systems, Inc., General Electric Company, International Business Machines (IBM) Corporation, Microsoft, Cerner Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global IoT in Healthcare Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT in Healthcare Historical Market (2018-2022)
8.3 Global IoT in Healthcare Market Forecast (2023-2028)
8.4 Global IoT in Healthcare Market by Component
8.4.1 Medical Devices
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 System and Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Services
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global IoT in Healthcare Market by Connectivity Technology
8.5.1 Wi-Fi
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Bluetooth Low Energy
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 ZigBee
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Near Field Communication
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Cellular
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Satellite
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.6 Global IoT in Healthcare Market by End Use
8.6.1 Clinical Research Organisation
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Hospitals and Clinics
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Research and Diagnostic Laboratories
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global IoT in Healthcare Market by Application
8.7.1 Telemedicine
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Medication Management
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Clinical Operations
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Inpatient Monitoring
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Connected Imaging
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Others
8.8 Global IoT in Healthcare Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America IoT in Healthcare Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe IoT in Healthcare Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific IoT in Healthcare Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America IoT in Healthcare Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa IoT in Healthcare Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Medtronic
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Cisco Systems, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 General Electric Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 International Business Machines (IBM) Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Microsoft
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Cerner Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global IoT in Healthcare Market: Key Industry Highlights, 2018 and 2028
2. Global IoT in Healthcare Historical Market: Breakup by Component (USD Billion), 2018-2022
3. Global IoT in Healthcare Market Forecast: Breakup by Component (USD Billion), 2023-2028
4. Global IoT in Healthcare Historical Market: Breakup by Connectivity Technology (USD Billion), 2018-2022
5. Global IoT in Healthcare Market Forecast: Breakup by Connectivity Technology (USD Billion), 2023-2028
6. Global IoT in Healthcare Historical Market: Breakup by End-User (USD Billion), 2018-2022
7. Global IoT in Healthcare Market Forecast: Breakup by End-User (USD Billion), 2023-2028
8. Global IoT in Healthcare Historical Market: Breakup by Application (USD Billion), 2018-2022
9. Global IoT in Healthcare Market Forecast: Breakup by Application (USD Billion), 2023-2028
10. Global IoT in Healthcare Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global IoT in Healthcare Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global IoT in Healthcare Market Structure
Key Questions Answered in the Report
In 2021, the global IoT in healthcare market attained a value of more than USD 177.64 billion.
The market is projected to grow at a CAGR of 17.49% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach over USD 467.25 billion by 2027.
The market is being driven by the ability of IoT enabled devices to aid in remote patient monitoring and diagnosis using IoT connected devices and arriving at accurate analysis aided by advanced computer technology like AI and Big Data.
The market is expected to be defined by the advancements in surgical robotic technology to perform surgeries with minimum procedures and reduced risk of errors.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant components of IoT in healthcare include medical devices, system and software, and services.
The different connectivity technologies of IoT in healthcare include wi-fi, Bluetooth low energy, ZigBee, near field communication, cellular, and satellite.
The various end uses of IoT in healthcare are clinical research organisation, hospitals and clinics, and research and diagnostic laboratories, among others.
The major applications of IoT in healthcare are telemedicine, medication management, clinical operations, inpatient monitoring, and connected imaging, among others.
The major players in the industry are Medtronic, Cisco Systems, Inc., General Electric Company, International Business Machines (IBM) Corporation, Microsoft, and Cerner Corporation, among others.
Analyst Review
The global IoT in healthcare market attained a value of more than USD 177.64 billion in 2021, driven by the ability to aid in remote monitoring. Aided by the introduction of surgical robots, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 17.49%. The market is projected to reach over USD 467.25 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on component, the market can be categorised into medical devices, system and software, and services. On the basis of connectivity technology, the market can be divided into wi-fi, Bluetooth low energy, ZigBee, near field communication, cellular, and satellite. On the basis of end use, the market can be classified into clinical research organisation, hospitals and clinics, and research and diagnostic laboratories, among others. Based on application, the market can be segmented into telemedicine, medication management, clinical operations, inpatient monitoring, and connected imaging, among others. The major regional markets for IoT in healthcare are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Medtronic, Cisco Systems, Inc., General Electric Company, International Business Machines (IBM) Corporation, Microsoft, and Cerner Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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