Editor’s Pick

IoT in Healthcare is Expected to Flourish at Nearly 18.0% CAGR; Global Market Value to Reach US$ 952.3 Billion by 2032

According to Future Market Insights, the worldwide IoT in Healthcare market is expected to reach US$ 181.4 Billion in 2022, growing at an 18.0% CAGR to US$ 952.3 Billion by 2032 over the forecast period.

Furthermore, a dollar opportunity worth US$ 770.9 Billion is anticipated for the market in the forthcoming decade.

By enabling real-time patient data access and remote patient monitoring, the Internet of Things (IoT) has the potential to disrupt traditional paper-based healthcare therapy. With the emergence of this digital healthcare technology, the impending need for enhanced diagnostics and targeted therapeutic options was met.

Furthermore, it not only enables physicians to remotely monitor patients, but it also functions as a fitness and wellness tracker for athletes and a dose reminder for patients. The successful implementation of IoT in remote monitoring of diabetic and asthma patients, along with the growing usage of fitness and wellness devices, has resulted in a considerable demand for the IoT healthcare business.

Key Takeaways from the Market Study

IoT in healthcare experienced a growth rate worth 18.8% between 2015 and 2021
Portable diagnostic devices in the IoT in Healthcare segment to expand at a CAGR of 10.1% during the forecast period
In the U.S., the market is predicted to reach US$ 208.1 Billion while growing at a CAGR of 18.9% during the forecast period
China’s market is expected to reach a market value of US$ 92.8 Billion with a CAGR of 19.5% during the forecast period

“Big data analytics is an area of IoT that is quickly expanding. The most recent breakthroughs in machine learning, logical procedures, computational intelligence, and data mining are required for big data analytics”, says an FMI analyst.

Competitive Landscape

Key players that have been profiled in the report are Apple Inc., Cisco Systems Inc., GE Healthcare Ltd., Google (Alphabet), International Business Machines Corporation, Medtronic PLC, Microsoft Corporation, Proteus Digital Health, Koninklijke Philips N.V., QUALCOMM Incorporated, and Abbot Laboratories are among companies that offer products and technologies that will allow customers to take advantage of new technologies.

In April 2019, Royal Philips and Spencer Health Solutions expanded their relationship to provide chronically sick patients in selected European Union (EU) nations with in-home medication adherence and the Philips telehealth platform.
Medtronic worked with IBM Watson in January 2019 to provide IQcast, a new feature of its current product Sugar.IQ, for iOS mobile devices in the United States. The software would provide patients with a hypoglycemic episode to monitor their low glucose level by anticipating the occurrence 1 to 4 hours in advance.

These insights are based on a report on IoT in Healthcare Market by Future Market Insights

Disclaimer: MonopolyWinnersUpdates.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 MonopolyWinnersUpdates.com. All Rights Reserved.

To Top