The global market for Internet of Things (IoT) in Healthcare was estimated at US$194.9 Billion in 2023 and is projected to reach US$603.6 Billion by 2030, growing at a CAGR of 17.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Internet of Things (IoT) in Healthcare Market - Key Trends and Drivers Summarized
How Is Internet of Things (IoT) Transforming Healthcare?
The Internet of Things (IoT) is reshaping healthcare by integrating advanced technologies to improve patient outcomes, streamline operations, and enhance healthcare delivery. IoT devices such as wearable health monitors, smart implants, and connected medical equipment collect real-time data that enable continuous patient monitoring, remote diagnostics, and proactive health management. Hospitals and clinics are also using IoT-based solutions to optimize the performance of medical equipment and manage patient flows efficiently. The integration of IoT into healthcare systems is reducing the burden on healthcare providers by allowing real-time tracking of vital signs and offering personalized treatment plans based on continuous data collection, which is crucial for chronic disease management and elderly care.How Are Technological Advancements Shaping the IoT in Healthcare Market?
Technological advancements are driving the expansion of IoT in healthcare, particularly in the areas of sensor technology, artificial intelligence (AI), and data analytics. The development of miniaturized, non-invasive sensors that can be embedded into wearable devices or implanted in patients has made real-time health monitoring more accessible. AI-powered analytics are being used to analyze the data generated by IoT devices to identify patterns, predict health conditions, and offer personalized treatment plans. Cloud computing and edge computing technologies are also playing a critical role by providing the necessary infrastructure to store, process, and analyze massive amounts of healthcare data securely and efficiently. These advancements are making IoT solutions more effective, scalable, and reliable for healthcare providers.How Do Market Segments Define the Growth of IoT in Healthcare?
Components include medical devices, connectivity solutions, and software, with connected medical devices such as wearable fitness trackers and smart implants leading the market. Applications range from remote patient monitoring and telemedicine to asset management and hospital automation, with remote patient monitoring being the largest segment as healthcare providers look to reduce hospital visits and manage chronic conditions remotely. End-users include hospitals, clinics, and patients, with hospitals adopting IoT solutions to improve operational efficiency and reduce costs. The market is expanding rapidly in regions like North America and Europe, where digital healthcare infrastructure is well-established, but is also growing in emerging markets like Asia-Pacific, where healthcare providers are looking to address rising patient demands.What Factors Are Driving the Growth in the IoT in Healthcare Market?
The growth in the IoT in healthcare market is driven by several factors, including the increasing demand for remote healthcare solutions, advancements in wearable medical devices, and the growing focus on personalized healthcare. As healthcare systems struggle with rising patient volumes and chronic disease cases, IoT provides an efficient way to monitor patients remotely, reducing hospital readmissions and improving patient care. Technological innovations in sensor technology, AI, and data analytics are enhancing the capabilities of IoT devices, making real-time health monitoring more accurate and reliable. Additionally, the rising demand for personalized treatment and the adoption of telemedicine, accelerated by the COVID-19 pandemic, are pushing healthcare providers to invest in IoT technologies.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Services Component segment, which is expected to reach US$294.4 Billion by 2030 with a CAGR of a 18.1%. The Software & Systems Component segment is also set to grow at 15.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $55.1 Billion in 2023, and China, forecasted to grow at an impressive 17.0% CAGR to reach $93.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) in Healthcare Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) in Healthcare Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Internet of Things (IoT) in Healthcare Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Internet of Things (IoT) in Healthcare market such as Abbott, Inc, AdhereTech, Boston Scientific, Cerner Corporation, Cisco Systems, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 98 companies featured in this Internet of Things (IoT) in Healthcare market report include:
- Abbott, Inc
- AdhereTech
- Boston Scientific
- Cerner Corporation
- Cisco Systems, Inc.
- Epic Systems Corporation
- GE Healthcare, Inc.
- Honeywell
- IBM, Inc.
- Intel, Inc.
- Koninklijke Philips, Inc.
- Medtronic, Inc.
- Microsoft, Inc.
- Proteus Digital Health
- SAP SE
- Siemens Healthineers GmbH
- Stanley Healthcare
- Thinklabs
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Abbott, Inc
- AdhereTech
- Boston Scientific
- Cerner Corporation
- Cisco Systems, Inc.
- Epic Systems Corporation
- GE Healthcare, Inc.
- Honeywell
- IBM, Inc.
- Intel, Inc.
- Koninklijke Philips, Inc.
- Medtronic, Inc.
- Microsoft, Inc.
- Proteus Digital Health
- SAP SE
- Siemens Healthineers GmbH
- Stanley Healthcare
- Thinklabs
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 121 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 194.9 Billion |
| Forecasted Market Value ( USD | $ 603.6 Billion |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 18 |
