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FARMINGTON, April 17, 2023 (GLOBE NEWSWIRE) — It Internet of Things (Iot) in Healthcare Market It is projected to grow from USD 190.5 billion in 2022 to USD 980.2 billion in 2030 at a CAGR of 20.41% during the forecast period 2023-2030. Key Factors Self-health measurement and monitoring will drive market growth

People around the world are gaining a greater understanding of self-health management as a result of the increase in early life problems. Increasing health consciousness is driving the young and physically active to use wearables.

Request a sample copy of the report Internet of Things (IoT) in Healthcare Market Share and Trend Assessment Report by Component (Devices {Implantable Sensor Devices, Wearable Sensor Devices, Others} Sensor Devices {System and Software, Network Layer, Database Layer, Analytics Layer), Services ( Architecture (System integration), consulting, application development (support and maintenance)}, by application (Patient monitoring, clinical operations and workflow optimization, clinical imaging, fitness and health measurement, drug development), by end user (healthcare providers, patients, Healthcare Payers, Research Laboratories (Biotech/Pharma), Governmental), by Regions and Sector Forecasts, 2023 – 2030,” published by Contrive Datum Insights.

An overview of segmentation.

Component perspective.

Owing to the growing demand for efficient platforms for connecting downstream servers and enterprise applications, the platform is expected to witness the highest CAGR growth.

However, solutions and services are expected to hold the largest market share. A number of industries are implementing smart solutions to improve their existing systems. For example, healthcare facilities are deploying connected devices to improve patient outcomes.

In addition, network management is expected to hold a significant market share during the forecast period due to increasing demand for remote control systems and Internet-enabled devices among enterprises. The network management solution is device independent and provides a simple method of integrating hardware models and data structures from multiple vendors into a workflow.

Regional perspective.

Apart from North America, Europe, Asia Pacific, Latin America, Middle East and India, the global Internet of Things (IoT) in Healthcare market has also been analyzed in other regions. In the near future, the global region will dominate this market.

North America dominated the market in 2018. Growth is driven by increasing demand for healthcare IT solutions, presence of large corporations, government initiatives such as the HITECH Act of 2009, and the region’s complex healthcare IT infrastructure.

The United States is expected to continue to account for the largest share of revenue in North America over the next several years. The biggest revenue drivers are technological advances and government programs that facilitate the use of digital platforms in the life sciences industry. E-healthcare and clinical interoperability are being developed in various ways, which is also fueling the market growth.

Asia Pacific is expected to be the fastest growing region. Improving health IT infrastructure, working to connect more health services, and encouraging the use of new technologies such as smart wearables are all critical to the region’s development. Demand for IoT technologies could also be influenced by the fact that medical equipment and pharmaceutical companies in the region are investing more capital.

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The scope of the report.

Report features Details
Growth rate CAGR of 20.41% from 2023 to 2030.
Revenue forecast until 2030 980.2 billion dollars
By ingredient
  • Devices
    • Imported sensor devices
    • Wearable sensor devices
    • Other touch devices
  • System and software
    • Network layer
    • Database layer
    • Analysis layer
  • Services
    • Architecture (system integration)
    • Consultation
    • Application Development (Support and Maintenance)
By application
  • Patient monitoring
  • Clinical operation and workflow optimization
  • Clinical Imaging
  • Measuring fitness and health
  • Drug development
By the end user
  • Healthcare providers
  • Patients
  • Healthcare payers
  • Research laboratories (Biotech/Pharma)
  • Government body
By companies
  • Medtronic
  • Cisco Systems, Inc.
  • IBM Corporation
  • GE Healthcare
  • Microsoft Corporation
  • SAP SE:
  • Infosys Limited
  • Cerner Corporation
  • Diabetizer Ltd. & Co. KG:
Regions and countries covered
  • North America (US, Canada, Mexico, Rest of North America)
  • Europe (Germany, France, Italy, Spain, Great Britain, Nordic countries, Benelux Union, Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)
  • The rest of the world
Base year 2022
Historical year From 2017 to 2022
Forecast year From 2023 to 2030

Market dynamics.

Restraining factors.

Limiting privacy protections to stop market expansion

Data security and distinct algorithms will create market challenges. The healthcare industry is at high risk of data breaches because it stores so much confidential and health information about individuals. Using machine learning, deep learning tools, smart and connected devices, and other techniques, the IoT makes the most of the health data it collects. These applications examine the user’s medical history, symptoms, insurance information and payment transactions. Also, according to a study by Checkpoint Technologies Ltd, millions of US patients are affected by IoT security risk in the medical field due to healthcare breaches. Therefore, the fact that attacks on healthcare data are on the rise may reduce consumer interest in the technology.

Analysis of opportunities.

Government efforts to promote digital health are yielding huge results.

Many governments have launched initiatives to promote digital health. The healthcare system is undergoing significant reform, as evidenced by the introduction of mandatory EHR system regulations.

In the coming years, diagnostic hardware devices that are portable will have the greatest expansion.

As a result of technological advances in portable diagnostic devices, CDI predicts that portable hardware diagnostic devices will account for the majority of sales. For example, in 2017, the FDA approved the Eko Duo, an effective EKG monitoring device manufactured by EKO Devices. According to the report, a CAGR of 15.1% is expected between 2022 and 2032.

Main areas covered:

The best players on the market.

  • Medtronic
  • Cisco Systems, Inc.
  • IBM Corporation
  • GE Healthcare
  • Microsoft Corporation
  • SAP SE:
  • Infosys Limited
  • Cerner Corporation
  • Diabetizer Ltd. & Co. KG:

By ingredient

  • Devices
    • Imported sensor devices
    • Wearable sensor devices
    • Other touch devices
  • System and software
    • Network layer
    • Database layer
    • Analysis layer
  • Services
    • Architecture (system integration)
    • Consultation
    • Application Development (Support and Maintenance)

By application

  • Patient monitoring
  • Clinical operation and workflow optimization
  • Clinical Imaging
  • Measuring fitness and health
  • Drug development

By the end user

  • Healthcare providers
  • Patients
  • Healthcare payers
  • Research laboratories (Biotech/Pharma)
  • Government body

Regions and countries covered

  • North America: (USA, Canada, Mexico, Rest of North America)
  • Europe. (Germany, France, Italy, Spain, Great Britain, Nordic countries, Benelux Union, Rest of Europe)
  • Asia-Pacific. (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • Middle East and Africa. (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
  • Latin America. (Brazil, Argentina, Rest of Latin America)
  • The rest of the world

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About us:
Contrive Datum Insights (CDI) is a global partner in providing market intelligence and advisory services to officials in various industries such as investment, information technology, telecommunications, consumer technology and manufacturing markets. CDI helps the investment community, business leaders and IT professionals make accurate, statistics-based decisions on technology purchases and develop strong growth tactics to maintain market competitiveness. Comprised of a team of over 100 analysts and over 200 years of cumulative market experience, Contrive Datum Insights ensures the transfer of industry knowledge combined with global and country level expertise.

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