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Global IoT in Healthcare Market Analysis, Size, Growth, Forecast: By Component: Medical Devices, System and Software, Services; By Connectivity Technology: Wi-Fi, Bluetooth, ZIGBEE, Near-Field Communication, Cellular, RFID, Satellite; By Application: Telemedicine, Others; By End User; Regional Analysis; Supplier Landscape; 2023-2031
Global IoT in Healthcare Market Outlook
The global IoT in healthcare market size was valued at USD 186.6 billion in 2022, driven by the rising disposable income, rising healthcare expenditure, increasing health awareness, and growing adoption of smart devices. The market is anticipated to grow at a CAGR of 19.1% during the forecast period 2023-2031 to reach a value of USD 892.8 billion by 2031.
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IoT Enabled Remote Monitoring to Provide Impetus to the IoT in Healthcare Market Growth
The growth of the global market for IoT in healthcare is 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 Segmentations
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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Market Breakup by Component
- Medical Devices
- Wearable External Devices
- Implanted Medical Devices
- Stationary Medical Devices
- System and Software
- Remote Device Management
- Network Bandwidth Management
- Data Analytics
- Application Security
- Network Security
- Services
- System Integration Services
- Consulting, Training, and Education
- Support and Maintenance Services
Market Breakup by Connectivity Technology
- Wi-Fi
- Bluetooth
- ZIGBEE
- Near-Field Communication
- Cellular
- RFID
- Satellite
IoT in Healthcare Market Breakup by Application
- Telemedicine
- Patient Monitoring
- Connected Imaging
- Clinical Operations
- Medication Management
- Others
Market Breakup by End User
- Hospitals and Clinics
- Clinical Research Organizations
- Research and Diagnostic Laboratories
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Introduction of Surgical Robots to Propel the Growth of IoT in Healthcare Market
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 Players in the Global IoT in Healthcare Market
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IoT in healthcare market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
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The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.
- Medtronic
- Cisco Inc
- GENERAL ELECTRIC
- STANLEY Healthcare
- Capsule Technologies, Inc
- IBM Corporation
- Koninklijke Philips N.V.
- SAP affiliate company
- AdhereTech
- Cerner Corporation
- Meru Health
- LifeFuels Inc
- CARRÉ TECHNOLOGIES INC.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2016-2022 |
| Forecast Period | 2023-2031 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
|
| Breakup by Connectivity Technology |
|
| Breakup by Application |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| 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
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global IoT in Healthcare Market Overview
3.1 Global IoT in Healthcare Market Historical Value (2016-2022)
3.2 Global IoT in Healthcare Market Forecast Value (2023-2031)
4 Global IoT in Healthcare Market Landscape
4.1 Global IoT in Healthcare Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global IoT in Healthcare Product Landscape
4.2.1 Analysis by Component
4.2.2 Analysis by Connectivity Technology
4.2.3 Analysis by Application
4.2.4 Analysis by End User
5 Global IoT in Healthcare Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global IoT in Healthcare Market Segmentation
6.1 Global IoT in Healthcare Market by Component
6.1.1 Market Overview
6.1.2 Medical Devices
6.1.2.1 Wearable External Devices
6.1.2.2 Implanted Medical Devices
6.1.2.3 Stationary Medical Devices
6.1.3 System and Software
6.1.3.1 Remote Device Management
6.1.3.2 Network Bandwidth Management
6.1.3.3 Data Analytics
6.1.3.4 Application Security
6.1.3.5 Network Security
6.1.4 Services
6.1.4.1 System Integration Services
6.1.4.2 Consulting, Training, and Education
6.1.4.3 Support and Maintenance Services
6.2 Global IoT in Healthcare Market by Connectivity Technology
6.2.1 Market Overview
6.2.2 Wi-Fi
6.2.3 Bluetooth
6.2.4 ZIGBEE
6.2.5 Near-Field Communication
6.2.6 Cellular
6.2.7 RFID
6.2.8 Satellite
6.3 Global IoT in Healthcare Market by Application
6.3.1 Market Overview
6.3.2 Telemedicine
6.3.3 Patient Monitoring
6.3.4 Connected Imaging
6.3.5 Clinical Operations
6.3.6 Medication Management
6.3.7 Others
6.4 Global IoT in Healthcare Market by End User
6.4.1 Market Overview
6.4.2 Hospitals & Clinics
6.4.3 Clinical Research Organizations
6.4.4 Research and Diagnostic Laboratories
6.4.5 Others
6.5 Global IoT in Healthcare Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America IoT in Healthcare Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe IoT in Healthcare Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific IoT in Healthcare Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America IoT in Healthcare Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa IoT in Healthcare Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Medtronic
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Cisco Inc
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 GENERAL ELECTRIC
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 STANLEY Healthcare
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Capsule Technologies, Inc
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 IBM Corporation
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Koninklijke Philips N.V.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 SAP affiliate company
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 AdhereTech
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Cerner Corporation
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Meru Health
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 LifeFuels Inc
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 CARRÉ TECHNOLOGIES INC.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
18 Global IoT in Healthcare Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The global IoT in healthcare market reached a value of USD 186.6 billion in 2022.
The market is anticipated to grow at a CAGR of 19.1% during the forecast period of 2023-2031 to reach a value of USD 892.8 billion by 2031.
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 connectivity technologies in the market can be divided into Wi-Fi, Bluetooth, ZIGBEE, near-field communication, cellular, RFID, 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 key players in the market can be categorised into Medtronic, Cisco Inc, GENERAL ELECTRIC, STANLEY Healthcare, Capsule Technologies, Inc, IBM Corporation, Koninklijke Philips N.V., SAP affiliate company, AdhereTech, Meru Health, LifeFuels Inc, CARRÉ TECHNOLOGIES INC., and Cerner Corporation.
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