Internet-of-Things (IoT) in Healthcare Market
Internet-of-Things (IoT) in Healthcare Market Size, Share & Trends Analysis Report by Component (Medical Devices, Software & Solutions, and Services), by Application (Inpatient Monitoring, Telemedicine, Connected Imaging, and Drug Development), and by End-User (Healthcare Providers, and Research Laboratories) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
IoT in healthcare market is anticipated to grow at a considerable CAGR of 24.3% during the forecast period. The growth of the market is attributed to factors such as the rapidly growing penetration of smartphones, growing internet penetration, rising demand for remote patient monitoring, fueling the growth of IoT in healthcare market. According to the International Telecommunication Union (ITU) estimated that approximately 5.4 billion people or 67% of the world’s population are using the Internet in 2023. This represents an increase of 45% since 2018, with 1.7 billion people estimated to have come online during that period. According to the Mobile Economy 2022, there will be nearly 7.5 billion smartphone connections by 2025, accounting for over four in five mobile connections. Moreverover, penetration of smartphones and growing internet penetration accelareting the IoT in healthcare market.
Smartphone Connections in % (2021-2025)
Source: The Mobile Economy 2022
Segmental Outlook
The global IoT in healthcare market is segmented based on its component, application and end-user. Based on component, the market is segmented into medical devices, software, solutions, and services. Based on application, the market is segmented into inpatient monitoring, telemedicine, connected imaging and drug development. Further, based on end-user, the market is segmented into healthcare providers and research laboratories. Among the end-user, the healthcare providers subsegment is anticipated to register considerable growth owing to the extend the reach outside of the traditional clinical setting.
The Telemedicine Sub-Segment to Register a Prominent Growth Over the Forecat Period
Among the application, the telemedicine sub-segment is anticipated to hold prominent market shares owing to the spending less time in the hospital, providing cost savings, improves access to care trusted source for people with disabilities, and convenience. In addition, increasing awareness towards patient safety, and government support also contributing to building trust in adopting telemedicine by patients. For instance, in August 2023, the American Telemedicine Association (ATA) published new health data privacy principles, to ensure telehealth practices meet standards for patient safety, data privacy, and information security, while advancing patient access and building awareness of telehealth practices. Key components of the health data privacy principles include consistency, definition of consumer health data, health insurance portability and accountability act (HIPAA), consumer rights, among others.
Regional Outlook
The global IoT in healthcare market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these regions, Europe is anticipated to experience prominent growth over the forecast period, driven by the presence of major IoT in healthcare manufacturers and the increasing adoption of IoT-enabled devices. However, the Europe region is projected to witness considerable growth in the IoT in healthcare market owing to the expanding healthcare industry and consumer IoT applications and the presence of key semiconductor manufacturing hubs.
Global IoT in Healthcare Market Growth by Region 2023-2030
The North America Region is Anticipated to Hold a Significant Share in the Global IoT in Healthcare Market
Among these regions, North America is anticipated to hold the significant share of IoT in healthcare market over the forecast period. The market is attributed to factors including rising usage of telemedicine, mHealth, e-prescribing and other healthcare IT technologies as a response to COVID-19, as well as growing government requirements and support for IoT solutions in healthcare. Furthermore, the rising number of hospitals, advanced research organizations, universities, and growing innovation by medical device manufacturers are contributing the market growth. Moreover, several government initiatives and supportive programs are also boosting the adoption of IoT in healthcare. In August 2023, the advanced research projects agency for health (ARPA-H), an agency within the US Department of Health and Human Services (HHS), launched the Digital Health Security (DIGIHEALS) project to protect the US healthcare system’s electronic infrastructure. Through a Broad Agency Announcement (BAA), the project appealed the proposals for proven technologies developed for national security and apply them to civilian health systems, clinical care facilities, and personal health devices.
Market Players Outlook
The major companies serving the global IoT in healthcare market include Amazon Web Services, Inc., Cisco Systems Inc., Honeywell Life Care Solutions, Microsoft Corp., Medtronic Plc, SAP SE and Others. These players are considerably contributing to market growth by adopting various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market and meet the evolving demands of IoT applications. For instance, in May 2021, HCA Healthcare, Inc., a healthcare providers, and Google Cloud enetered into multi-year strategic partnership that planed to build on HCA Healthcare’s innovative use of information technology to accelerate the digital transformation taking place within the company. The partnership with Google Cloud is designed to help create a secure and dynamic data analytics platform for HCA Healthcare and enable the development of next generation operational models focused on actionable insights and improved workflows.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IoT in healthcare market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Amazon Web Services, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cisco Systems Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Honeywell Life Care Solutions
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Microsoft Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
4. Market Segmentation
4.1. Global IoT in Healthcare Market by Component
4.1.1. Medical Devices
4.1.2. Software and Solutions
4.1.3. Services
4.2. Global IoT in Healthcare Market by Application
4.2.1. Devices
4.2.2. Inpatient Monitoring
4.2.3. Telemedicine
4.2.4. Connected Imaging
4.2.5. Drug Development
4.3. Global IoT in Healthcare Market by End-User
4.3.1. Healthcare Providers
4.3.2. Research Laboratories
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Alphabet Inc.
6.2. Apple Inc.
6.3. Backbone Labs, Inc.
6.4. Cerner Corp.,
6.5. GE HealthCare Technologies Inc.
6.6. GENERAL ELECTRIC
6.7. IBM Corp.
6.8. Infosys Ltd
6.9. Intel corp.,
6.10. Keriton
6.11. Koninklijke Philips N.V.,
6.12. Medtronic Plc
6.13. Naya Health
6.14. QUALCOMM Incorporated
6.15. SAP SE
6.16. ST. Jude Medical Inc.
6.17. STANLEY Healthcare
1. GLOBAL IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
2. GLOBAL IOT BASED MEDICAL DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL IOT BASED SOFTWARE AND SOLUTIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL IOT BASED SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
6. GLOBAL IOT IN HEALTHCARE FOR INPATIENT MONITORING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL IOT IN HEALTHCARE FOR TELEMEDICINE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL IOT IN HEALTHCARE FOR CONNECTED IMAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL IOT IN HEALTHCARE FOR DRUG DEVELOPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
11. GLOBAL IOT IN HEALTHCARE FOR HEALTHCARE PROVIDERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL IOT IN HEALTHCARE FOR RESEARCH LABORATORIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. NORTH AMERICAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
15. NORTH AMERICAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
16. NORTH AMERICAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
17. NORTH AMERICAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
18. EUROPEAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. EUROPEAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
20. EUROPEAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
21. EUROPEAN IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
25. ASIA-PACIFIC IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
26. REST OF THE WORLD IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
27. REST OF THE WORLD IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
28. REST OF THE WORLD IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
1. GLOBAL IOT IN HEALTHCARE MARKET SHARE BY COMPONENT, 2022 VS 2030 (%)
2. GLOBAL IOT BASED MEDICAL DEVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL IOT BASED SOFTWARE AND SOLUTIONS MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL IOT BASED SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022 VS 2030 (%)
6. GLOBAL IOT IN HEALTHCARE FOR INPATIENT MONITORING MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL IOT IN HEALTHCARE FOR TELEMEDICINE MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL IOT IN HEALTHCARE FOR CONNECTED IMAGING MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL IOT IN HEALTHCARE FOR DRUG DEVELOPMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL IOT IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY END-USER, 2022 VS 2030 (%)
11. GLOBAL IOT IN HEALTHCARE FOR HEALTHCARE PROVIDERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL IOT IN HEALTHCARE FOR RESEARCH LABORATORIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL IOT IN HEALTHCARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. US IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
15. CANADA IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
16. UK IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
17. FRANCE IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
18. GERMANY IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
19. ITALY IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
20. SPAIN IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
21. REST OF EUROPE IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
22. INDIA IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
23. CHINA IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
24. JAPAN IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
25. SOUTH KOREA IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF ASIA-PACIFIC IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF THE WORLD IOT IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
