IoT In Healthcare Market
The IOT in healthcare market was valued at USD 72.5 Billion in 2020, and it is expected to reach a value of USD 265 Billion by 2027, at a CAGR of 21.0% over the forecast period (2020 - 2027).
A network of physical devices connected by connectivity to exchange data is referred to as the Internet of Things (IoT). Further, in the healthcare field, IoT is used in the collection, analysis, and monitoring of personal health records, protected health information, and other data generated by machines in healthcare. Additionally, IoT applications in healthcare facilitate important tasks, such as improving patient outcomes, and relieve some of the burdens on healthcare practitioners.
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The major factors that contribute to the growth of the internet of things in the healthcare market are technological advancements, rising incidence rates of chronic diseases such as COPD, genetic diseases, respiratory diseases, and others, better accessibility to high-speed internet, and favorable government regulations. Growing demand for cost-effective treatment and disease management increased the adoption of smart devices and wearables and increased interest in self-health measurement, as well as reduced healthcare costs through advanced and cost-effective IoT in healthcare products and solutions.
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Key players in IOT in healthcare market are:
• Capsule Technologies
• Comarch SA
• Cisco Systems
• GE Healthcare
• IBM Corporation
• Microsoft Corporation
Scope of the Report
The study provides an analysis of the Global IOT in healthcare Market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value.