The Internet of Thing (IoT) is a technology embedded with software, sensors, actuators, electronics and network connectivity through which data can be collected and exchanged. IoT provides better quality care to the patient by simplifying healthcare operations. Moreover, remotely connected medical devices, such as insulin pumps, cardiac monitoring devices, and continuous positive airway pressure (CPAP) machines provide real-time patient information and remote patient monitoring over paper-based healthcare treatment. IoT ensures constant communication with the physician to track accurate data of the patients, which is helpful for treating diabetes and asthma patients. Furthermore, IoT simplifies the experience in terms of cost and is less time-consuming.
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Global IoT Healthcare Market Taxonomy:
On the basis of type of component, application, and end-user, the global IoT healthcare market is segmented into:
Component:
- Devices
- Implantable Sensor Devices
- Wearable Sensor Devices
- Others Sensor Devices
- System and Software
- Network Layer
- Database Layer
- Analytics Layer
- Services
- Architecture (System integration)
- Application Development (support and maintenance)
- Consulting
Application:
- Patient Monitoring
- Drug Development
- Clinical Imaging
- Clinical Operation and Workflow Optimization
- Fitness and Wellness Measurement
End-user:
- Patients
- Healthcare Providers
- Healthcare Payers
- Research Laboratories
- Government Authority
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eClinicalWorks, a U.S. based company that sells electronic medical record (EMR), practice management and personal health record software and services to healthcare providers, has allowed clinicians to share visit notes with patients by using the eClinicalWorks Patient Portal. Currently, the eClinicalWorks portal has 130,000 users. It is expected to help build and enhance patient-doctor interaction, improve quality care and health care decisions.
Moreover, Gemalto announced the integration of its IoT connectivity technology with OnKoI’s mhealth solution in 2017. Gemalto intends to provide quality care to older individuals by notifying their family members, medical professionals and caregivers in an emergency medical situation.
In 2017, Carecloud and First Data launched one-stop application, Breeze – a web and mobile platform. Breeze runs on First Data’s commerce-enabling technology, clover mini and clover station. Breeze will allow patients to manage their doctor’s appointments, different modes of payment, health insurance, and medical forms. This application will also help to ease administrative workload and positively influence growth of the IoT healthcare market over the forecast period.
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Growing demand for better disease management through IoT technology is expected to fuel growth of the IoT healthcare market
According to the World Health Organization (WHO), around 1.6 million deaths in 2015 were directly caused by diabetes, and will increase by more than 50% before the age of 70 years by 2030. Moreover, according to the Centers of Disease Control and Prevention, 2017, 1 in 13 people suffer from asthma, and around 25 million Americans are suffering from asthma. The data represents the increasing prevalence of chronic diseases and growing demand for better disease management and cost-effective treatment, which is expected to accelerate the growth of the IoT healthcare market.
Increasing internet penetration and implementation of government regulatory policies are expected to favor the growth of the IoT healthcare market. For instance, in 2017, Brazilian government announced the ‘Internet of Things: an Action Plan for Brazil’ strategy to enhance the country’s development in healthcare, agribusiness, smart cities and manufacturing. The program will be implemented between 2018 and 2022.
Key players in the IoT healthcare market are Medtronic Plc., Royal Philips, Cisco Systems Inc., IBM Corporation, GE Healthcare, Microsoft Corporation, SAP SE, Qualcomm Life, Inc., Honeywell Life Care Solutions, and Stanley Healthcare.
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Table of Content
Global Internet of Things (IOT) Healthcare Market Research Report
Section 1: Global Internet of Things (IOT) Healthcare Industry Overview
Section 2: Global Economic Impact on Internet of Things (IOT) Healthcare Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Internet of Things (IOT) Healthcare Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Internet of Things (IOT) Healthcare Market Forecast
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