The major factors driving the growth of this market are rising incidence rates of chronic diseases, rise in investment for healthcare IOT solutions, better accessibility of high-speed internet, implementation of IOT solutions for reduced cost of care and growing demand for cost-effective treatment and disease management. On the other hand, lack of competence in deploying IOT solutions and regulatory implications may hinder the growth of the market.
North America Internet Of Things (IOT) Healthcare Market is expected to reach USD 159,149.02 million by 2024 from USD 14,413.60 million in 2016, at a CAGR of 35.1% in the forecast period 2019 to 2025. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2019 to 2025.
This report deals with important market related aspects which are; market size estimations, company and market best practices, entry level strategies, market dynamics, positioning, segmentations, competitive landscaping and benchmarking, opportunity analysis, economic forecasting, industry-specific technology solutions, roadmap analysis, and in-depth benchmarking of vendor offerings.
Major Key players profiled in this report are:
SAP SE and Koninklijke Philips N.V. along with others such as CISCO Systems Inc., IBM Corporation, GE Healthcare, Microsoft, Qualcomm Life, Inc., Honeywell Life Care Solutions, Diabetizer Gmbh & Co. Kg, Proteus Digital Health, Adheretech Inc. and Apple Inc. among others.
- Medical devices market is growing with the highest CAGR
- Telemedicine are driving the market with highest market share
- Cellular are dominating the internet of things (IOT) healthcare market
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Major Market Drivers:
Some of the major factors driving the market are rising incidence rates of chronic diseases, rise in investment for healthcare IOT solutions better accessibility of high-speed internet, implementation of IOT solutions for reduced cost of care and growing demand for cost-effective treatment and disease management. These factors increase the demand for North America internet of things (IOT) healthcare.
- Lack of competence in deploying IOT solutions and regulatory implications are the factors which may hinder the growth of this market
- Many companies are increasingly focusing on rising adoption of telepresence technology and increase in the number of collaboration and partnership in order to strengthen their product portfolios in the internet of things (IOT) healthcare market.
- The North America internet of things (IOT) healthcare market is segmented on the basis of component, application, connectivity technology, end user and geography. The North America internet of things (IOT) healthcare market on the basis of component is segmented into 3 types: medical devices, systems and software and services.
- Medical device is sub segmented into wearable external medical devices, implanted medical devices and stationary medical devices. System and software is sub segmented into remote device management, network bandwidth management, data analytics, application security and network security. Services are sub segmented into system integration services, professional services, support and maintenance services.
- Based on application, the North America internet of things (IOT) healthcare market is segmented into telemedicine, clinical operations and workflow management, connected imaging, inpatient monitoring, medication management, drug development, fitness and wellness measurement and others. Telemedicine is sub segmented into store-and-forward, remote patient monitoring and interactive telemedicine.
- On the basis of connectivity technology, the North America internet of things (IOT) healthcare market is segmented into Wi-Fi, bluetooth low energy (BLE), zigbee, near field communication (NFC), cellular, satellite and others.
- On the basis of end user, the North America internet of things (IOT) healthcare market is classified into hospitals and clinics, surgical centers, clinical research organization (CRO), government and defense organizations, research laboratories, diagnostics laboratories, patients and others.
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