IoT in Healthcare market is expected to grow US$ 135.9 billion by 2025 from US$ 20.2 billion in 2015. Solution segment of IoT in Healthcare market is expected to continue its dominance. Solution segment comprises of medical systems & devices and software solution & tools. On-body wellness devices under medical system & devices segment is growing at the fastest CAGR due to increasing awareness for self-health among the people resulting in rising adoption of fitness wearable devices such as smart watches, fitness bands, etc.
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The rising incidences of chronic diseases and number of elderly population along with the need to reduce the costs associated with healthcare is expected to drive the market growth. Several companies are partnering with each other to offer enhanced and improved solutions to the customers in order to increase IoT in Healthcare market share.
IoT in healthcare market by end-user vertical is segmented into patients & individuals, diagnostic & research and labs, hospitals & healthcare institutes and government authority. The various government initiatives for increasing the deployment of IoT technologies in healthcare to reduce costs associated to healthcare facilities and need for optimization of clinical workflow for cost reduction and better patient outcome by healthcare institutions is propelling the IoT in Healthcare market growth.
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The overall IoT in Healthcare market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the IoT in Healthcare market.
Some of the key players operating in the global IoT healthcare market are Microsoft Corporation, GE Healthcare Ltd., Apple Inc., Qualcomm Life Inc., Medtronic PLC, International Business Machines Corporation, Koninklijke Philips N.V., Proteus Digital Health, Cerner Corporation, Diabetizer Ltd. & Co. KG, SAP SE, healthSpot, SetPoint Medical and Physiq among others.
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