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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 (2017-2027); 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 2022-2027 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: Industry Definition and 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 | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| 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, EMR’s 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. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Industry Opportunities and Challenges
8 Global IoT in Healthcare Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT in Healthcare Historical Market (2017-2021)
8.3 Global IoT in Healthcare Market Forecast (2022-2027)
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 (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 System and Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Services
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Bluetooth Low Energy
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 ZigBee
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Near Field Communication
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Cellular
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Satellite
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2017-2021)
8.5.6.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Hospitals and Clinics
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Research and Diagnostic Laboratories
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 Medication Management
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Clinical Operations
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2021)
8.7.3.3 Forecast Trend (2022-2027)
8.7.4 Inpatient Monitoring
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2017-2021)
8.7.4.3 Forecast Trend (2022-2027)
8.7.5 Connected Imaging
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2017-2021)
8.7.5.3 Forecast Trend (2022-2027)
8.7.6 Others
8.8 Global IoT in Healthcare Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Medtronic
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Cisco Systems, Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 General Electric Company
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 International Business Machines (IBM) Corporation
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Microsoft
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Cerner Corporation
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global IoT in Healthcare Market: Key Industry Highlights, 2017 and 2027
2. Global IoT in Healthcare Historical Market: Breakup by Component (USD Billion), 2017-2021
3. Global IoT in Healthcare Market Forecast: Breakup by Component (USD Billion), 2022-2027
4. Global IoT in Healthcare Historical Market: Breakup by Connectivity Technology (USD Billion), 2017-2021
5. Global IoT in Healthcare Market Forecast: Breakup by Connectivity Technology (USD Billion), 2022-2027
6. Global IoT in Healthcare Historical Market: Breakup by End-User (USD Billion), 2017-2021
7. Global IoT in Healthcare Market Forecast: Breakup by End-User (USD Billion), 2022-2027
8. Global IoT in Healthcare Historical Market: Breakup by Application (USD Billion), 2017-2021
9. Global IoT in Healthcare Market Forecast: Breakup by Application (USD Billion), 2022-2027
10. Global IoT in Healthcare Historical Market: Breakup by Region (USD Billion), 2017-2021
11. Global IoT in Healthcare Market Forecast: Breakup by Region (USD Billion), 2022-2027
12. North America IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2017-2021
13. North America IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Europe IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Europe IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Asia Pacific IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Asia Pacific IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Latin America IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Latin America IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Middle East and Africa IoT in Healthcare Historical Market: Breakup by Country (USD Billion), 2017-2021
21. Middle East and Africa IoT in Healthcare Market Forecast: Breakup by Country (USD Billion), 2022-2027
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 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 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 2022-2027, 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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