Global “Internet of Things (IoT) in Healthcare Market” Report 2020 offers Complete analysis of industry status and outlook of major regions based on of key players, countries, product types, and end industries. This report focuses on the Internet of Things (IoT) in Healthcare in Global market, especially in United States, Europe, China, Japan, South Korea, North America, India. Internet of Things (IoT) in Healthcare Market report categorizes the market based on manufacturers, regions, type and application. Internet of Things (IoT) in Healthcare Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data.
Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. Internet of Things (IoT) in Healthcare Market report categorizes the market based on manufacturers, regions, type, and application. Internet of Things (IoT) in Healthcare Market reports offer a detailed assessment of the Internet of Things (IoT) in Healthcare including enabling technologies, current market situation, market assumptions, restraining factors.
List of Top Key-players in 2020 of Internet of Things (IoT) in Healthcare Market:-
- INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM)
- INTEL CORPORATION
- KONINKLIJKE PHILIPS NV
- PROTEUS DIGITAL HEALTH INC.
- CISCO SYSTEMS INC.
- MICROSOFT CORPORATION
- GE HEALTHCARE
- AND QUALCOMM
The Global Internet of Things (IoT) in Healthcare market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
IoT system includes every device that is connected to the internet for a wide range of applications, such as tracking patients or equipment, collecting data, and analyzing the collected data. The global Internet of Things (IoT) in the healthcare market is expected to register a CAGR of 28.6% during the forecast period (2018 – 2023).
Need to Contain Healthcare Expenditure
The high per capita expenditure on healthcare in developed regions, such as North America and Europe, is expected to increase further. According to a WHO report, in 2014, the United States spent 17.14% of GDP (which is an increase by approximately 2% from 2005) on healthcare, exclusively. More than one-sixth of the GDP being spent on one sector shows the importance of that sector, but this also limits the resource for other developmental schemes. In countries, such as Germany and France, the expenditure on healthcare as a percentage of GDP, has increased by approximately 1% in the last decade. In Germany, healthcare expenditure increased from approximately USD 350 billion in 2007 to USD 437 billion in 2014, which is a 25% increase in just eight years. There is a need to contain the expenditure on healthcare and regular monitoring, as the costs are becoming too high.
To contain the expenditure on health, there is an urgent need to decrease the total cost of such regular monitoring. The overall cost of regular monitoring includes transportation cost, hospitalization cost, and service cost. These costs can be minimized or eliminated with the help of remote patient monitoring device, a healthcare IoT product. Remote patient monitoring device, as the name suggests, involves the monitoring of a patient from a different location. This eliminates the need for commuting to the hospital and the need for being hospitalized for less severe conditions. This need is driving the market for IoT.
The emergence of big data in healthcare, increase in the adoption of information technology in the healthcare sector, need to reduce hospital re-admissions, and advancements in the field of information technology, are some of the other factors contributing to the growth of the market.
Data Privacy Concerns
The advent of IoT in the healthcare sector has led to the emergence of privacy concerns among the hospitals and patients. Concerns regarding breach exist as with any other digital technology. Although traditional, on-premise digitalization helps in strengthening the process and efficiency, it does not provide enhanced security for medical data, which is very critical. Hackers may alter the data, which can affect the entire functioning of an organization. According to a report published by the American National Standards Institute, health information privacy of nearly 18 million Americans has been breached electronically over the last two years. These privacy breaches result in loss of trust by patients, who expect their health information privacy to remain protected and hence hampering the growth of the market.
Additionally, high initial investments and lack of skilled labor are also restraining the Internet of Things (IoT) in Healthcare market growth.
Asia-Pacific to Register the Highest CAGR
The global internet of things (IoT) in healthcare market is segmented by type, application, component, end-users and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The high growth rate in the Asia-Pacific IoT healthcare market can be attributed to the increase in a number of hospitals and surgical centers in this region. The rise in the demand for cloud-based solutions from the manufacturing and other verticals, is driving the IoT healthcare market in this region. Countries, such as India, Indonesia, and China are expected to witness high growth rates in the IoT healthcare market.
Major players: INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM), INTEL CORPORATION, ERICSSON, KONINKLIJKE PHILIPS NV, PROTEUS DIGITAL HEALTH INC., MEDTRONIC, CISCO SYSTEMS INC., MICROSOFT CORPORATION, GE HEALTHCARE, AND QUALCOMM, amongst others.
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The global Internet of Things (IoT) in Healthcare market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of Internet of Things (IoT) in Healthcare Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
Key Developments in the Internet of Things (IoT) in Healthcare Market:
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This Internet of Things (IoT) in Healthcare Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Internet of Things (IoT) in Healthcare? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Internet of Things (IoT) in Healthcare Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Internet of Things (IoT) in Healthcare Market? What Was Capacity, Production Value, Cost and PROFIT of Internet of Things (IoT) in Healthcare Market?
- What Is Current Market Status of Internet of Things (IoT) in Healthcare Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Internet of Things (IoT) in Healthcare Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Internet of Things (IoT) in Healthcare Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Internet of Things (IoT) in Healthcare Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Internet of Things (IoT) in Healthcare Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Internet of Things (IoT) in Healthcare Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Internet of Things (IoT) in Healthcare Industry?
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Finally, the report Global Internet of Things (IoT) in Healthcare Market 2020 describes the Internet of Things (IoT) in Healthcare industry expansion game plan, the Internet of Things (IoT) in Healthcare industry knowledge supply, appendix, analysis findings, and the conclusion.
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