IoT Enabled Healthcare Equipment Market:
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Executive Summary
This report describes and evaluates the IoT enabled medical devices global market for healthcare equipment. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2023, the forecast period.
The IoT enabled healthcare equipment market consists of manufacturers’ sales of healthcare devices equipped with IoT enabled technology such as the Bluetooth technology used to assess and monitor patients’ health.
The market for IoT enabled healthcare equipment medical devices manufacturing market reached a value of nearly $18.8 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.6% from 2014, and is expected to grow at a CAGR of 29.9% to nearly $69.7 billion by 2023.Growth is mainly due to increasing access to these devices through online platforms and a rapid decline in their prices owing to manufacturers passing on a significant drop in the prices of components. Increasing awareness of the benefits of these devices will also contribute to explosive growth. Skills shortages, high costs associated with the development of IoT healthcare devices and regulatory hurdles are potential threats.
The diagnostic equipment segment of the IoT healthcare market accounted for the largest share of the IoT enabled healthcare equipment market in 2018 at $7.1 billion. The highest growth is projected to come from the wearable devices segment, which is forecast to grow at a CAGR of 35.9%.
North America was the largest region in the IoT enabled healthcare equipment market in 2018, accounting for 35.2% of the global market. It was followed by Asia Pacific and Western Europe. Going forward, the fastest growth in the IoT enabled healthcare equipment market will take place in Asia Pacific where it is forecast to grow at a CAGR of 32.5%, followed by South America where growth at a CAGR of 31.0% is expected. The USA is the largest country in terms of value in the IoT enabled healthcare equipment market. India and China are forecast to have the fastest growth, growing at CAGRs of 36.9% and 36.5% respectively.
The market for IoT enabled healthcare equipment is concentrated. Major players in the market are Medtronic plc, General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, and Fujifilm Holdings Corporation.
Major opportunities in the IoT enabled healthcare equipment market will arise in the wearable devices segment which will add $19.6 billion of annual sales globally between 2018 and 2023,.The strongest IoT healthcare market opportunities will arise and in the USA where $15.78 billion of new yearly sales will be added by 2023. Strategies suggested by trends in the market are to invest in MBAN devices to benefit from their increasing popularity. Business strategies adopted by major companies in the market include investing in expanding manufacturing operations, improving infrastructure and in acquisitions and mergers to strengthen product and service offerings.
IoT Enabled Healthcare Equipment Global Market Opportunities And Strategies To 2023 report from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global IoT enabled healthcare equipment market.
Where is the largest and fastest growing market for the IoT enabled healthcare equipment market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The IoT enabled healthcare equipment market opportunities and strategies to 2023 report from the Business Research Company answers all these questions and many more.
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The report covers the following chapters
• Market Characteristics – The market characteristics section of the report defines and explains the IoT enabled healthcare equipment market. This chapter includes different goods and services covered in the report, basic definitions and market supply chain analysis.
• Global Market Size And Growth – This section contains the global historic (2014-2018) and forecast (2018-2023) market value, and drivers and restraints that support and control the growth of the market in the historic and forecast period.
• Trends And Strategies – This chapter includes some of the major trends shaping the global IoT enabled healthcare equipment market by segment. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
• Global Market Segmentation – This section contains global segmentation of the IoT enabled healthcare equipment market for 2018. Segmentation types include by region and by country segmentation of the IoT enabled healthcare equipment market.
• Global Macro Comparison – The global IoT enabled healthcare equipment market comparison with macro-economic factors gives the IoT enabled healthcare equipment market size, percentage of GDP, and average IoT enabled healthcare equipment market expenditure.
• Macro Comparison By Country – The IoT enabled healthcare equipment market comparison with macro-economic factors across countries gives the IoT enabled healthcare equipment market size, percentage of GDP, by country and per capita average IoT enabled healthcare equipment market expenditure.
• Region/Country Market Size And Growth – This section contains the region’s market size (2018), historic (2014-2018) and forecast (2018-2023) market value, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa) and major countries within each region.
• Competitive Landscape – This section covers details on the competitive landscape of the global IoT enabled healthcare equipment market, estimated market shares and company profiles for the leading players.
• IoT Enabled Healthcare Equipment Market Medical Devices Pipeline – This section includes information on the pipeline products of the IOT enabled healthcare equipment medical devices.
• Key Mergers And Acquisitions – This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
• Recommendations – Conclusions and recommendations based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
Scope
Markets Covered: Diagnostic Equipment, Implanted Devices, Wearable Devices
Companies Mentioned: Medtronic plc, General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Fujifilm Holdings Corporation
Countries: China, Japan, India, Australia, USA, Brazil, UK, Germany, France, Spain, Italy, Russia
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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