The global IoT in healthcare market size is projected to reach USD 534.3 billion by 2025 expanding at a CAGR 19.9% over the forecast period, according to a new report by Grand View Research, Inc. Rise in investments for the implementation of IoT solutions in healthcare sector is one of the key factors driving the market. Increasing penetration of connected devices in various healthcare institutes and adoption of IoT systems and software solutions in healthcare operational activities are also among the key factors augmenting the market growth.
Growing
preference for real-time data monitoring among the healthcare practitioners to
manage chronic diseases is expected to propel the demand for IoT network in
healthcare institutions. Combinations of remote monitoring, mobile platforms,
and analytics have cut the rate of readmissions of patients suffering from
congestive heart failure, diabetes, and blood pressure. Furthermore,
advancements in communication technologies, such as real-time data
transmission, has positively impacted the patients in manage chronic diseases
and medication dosage, which has further fostered the market growth.
For
instance, connected wheelchairs allow people with disabilities to communicate
health alerts to care teams and engage with care providers. Growing number of
IoT platform installations for better and early diagnosis and disease tracking
is also contributing to the market development. Furthermore, rising demand for
digital technologies for managing diseases, such as insomnia, diabetes, autism,
heart disease, and asthma, is also poised to spur the market growth.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/internet-of-things-iot-healthcare-market
IoT in Healthcare
Market Report Highlights
- In 2018, services held the largest revenue share
owing to the high demand for improved decision-making in real-time and
uninterrupted data flow between devices and people to uplift the
efficiency of medical systems
- Hospitals and clinics held the largest revenue
share in 2018 due to increased investments by hospitals to encourage the
usage of digital technologies
- North America is expected to be the largest
market owing to growing adoption of healthcare IT solutions and
availability of sophisticated infrastructure in the region
- Asia pacific expected to witness the fastest CAGR
over the forecast period owing to growing investments by the
pharmaceuticals & medical devices companies and increasing adoption of
advanced technologies
- Key companies operating in this market include
Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Biotronik, and
Boston Scientific
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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