One of the most fundamental needs is healthcare, which not only improves quality of life but also extends life expectancy, giving people more stability in the future. M2M is a crucial instrument in the healthcare industry that helps to give remote diagnostic solutions and improve patient care. It has a sensor that captures certain physiological conditions, such heart rate or brain imaging, among others. Also, recording is sent through wired or wireless communication to a particular software program, which transforms recorded data into information that a physician sitting remote from the patient can use. The patient’s body may have these sensors attached to them around-the-clock so that a doctor may monitor their health. Healthcare facilities can be improved in a number of ways thanks to machine-to-machine communication, which offers patients a higher standard of care and convenience for both the carer and the patient. The two types of machine-to-machine technology—wired and wireless—are connected to equipment of the same kind and enable communication among those machines. These tools are crucial for lowering healthcare expenses, enhancing patient care, and boosting adherence to prescribed treatment plans. By connecting healthcare professionals, patients, and treatment systems through the internet, M2M healthcare is advantageous since it saves time. M2M healthcare systems primarily perform telemedicine, home monitoring, supported living, and clinical monitoring.
Ask Us to Get Your Sample Copy Of The Report, Covering TOC and Regional Analysis @ https://www.coherentmarketinsights.com/insight/request-sample/1597
Healthcare M2M Market: Market Dynamics
The rising cost of healthcare globally, particularly in wealthy nations like North America, is a major reason propelling expansion of the healthcare M2M market. According to data provided by the World Economic Forum in 2016, the US, Switzerland, and Norway are the three countries that spend the most on healthcare globally, each spending close to US$ 9,715 per person, or 9.6% of GDP, US$ 9,276 per person, or 11.5% of GDP, and US$ 9,146 per person, or 17.1% of GDP. Patients’ financial burden is increased by visiting hospitals because of the high maintenance costs associated with the facilities’ expensive equipment. M2M facilities would therefore be advantageous to all of these healthcare industry stakeholders. The prevalence of chronic diseases including diabetes, cardiovascular disease, and cancer is rising globally, which is further boosting the M2M market for healthcare. In 2017, there were around 425 million people with diabetes globally, according to The International Diabetes Federation’s (IDF) Diabetes Atlas. Cancer is the second highest cause of mortality globally and one of the most common non-communicable diseases, according to the World Health Organization (WHO). In 2012, the International Institute for Research on Cancer (IARC) reported that there were around 32.6 million cancer patients worldwide, 8.8 million cancer-related deaths, and 14.1 million new cases. Due to the high frequency of chronic disease, ongoing medical follow-up and monitoring are also required, which may not be practicable if only relying on physical infrastructure. According to a United Nations research titled Global Population Prospect- 2017 revision, there will be 1.3 billion individuals over the age of 60 in the world by 2030, up from 962 million in 2017. The healthcare M2M industry is expanding as a result of ongoing wireless technology advancements that bridge the gap between healthcare providers and recipients.
Healthcare M2M Market: Regional Insights
North America area is dominating the healthcare M2M market, owing to increased concern for healthcare cost in this region. The Organization for Economic Cooperation and Development (OECD) reports that in 2017, the U.S. spent the most per person on healthcare, or about $10,000. M2M in healthcare has the potential to significantly lower this cost. Also, since inpatient visits are the most expensive in terms of healthcare costs, it would make more outpatient visitors possible. The expansion of the healthcare M2M industry is also being driven by an increase in the prevalence of chronic diseases. According to a research from the International Diabetes Federation from 2017, the United States spent $3.77 billion on healthcare overall, with diabetes accounting for over 52% of that amount. According to a 2017 study that was published in the American College of Cardiology Journal, cardiovascular disease is responsible for around 800,000 deaths in the United States each year, or one death per 40 seconds on average. M2M in healthcare enables ongoing patient monitoring and prompt follow-up, which lowers the rate of sudden cardiac death. The healthcare M2M market is also anticipated to increase as a result of the physician shortage. The American Association of Medical Colleges predicted that between 40,800 and 104,900 physicians would be needed in the United States by 2030. The use of the healthcare M2M market would also be encouraged by the difficulty in receiving reimbursement in some circumstances (Penalty under the Affordable Care Act if patient readmitted to hospital after discharged within specific time).
Due to their high population density and dearth of adequate healthcare infrastructure, economies like China and India are anticipated to be lucrative for the expansion of the healthcare M2M industry. Also, throughout the course of the forecast period, telemedicine facilities are anticipated to fuel market expansion in these areas.
Healthcare M2M Market: Competitive Landscape
Sierra Wireless, Inc., Deutsche Telekom, Athena Health, Inc., GE Healthcare, Apple Inc., Cisco Systems, IBM Corporation, Stanley Healthcare, Allscripts Healthcare Solutions Inc., AT&T Inc., and Gemalto NV are some of the major companies active in the worldwide healthcare M2M market.
Healthcare M2M Market: Market Taxonomy
Based on Component:
- M2M Modules
- M2M Platforms
- Connectivity Services
Based on Application:
- Patient Well-being
- Sports & Fitness
- Medical Facilities
- Others
Based on Region:
- North America
- Latin America
- Europe
- Africa
- Asia Pacific
- Middle East
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐔𝐩 𝐓𝐨 𝟐𝟓% 𝐎𝐅𝐅 @ https://www.coherentmarketinsights.com/insight/buy-now/1597
| The market size value in 2023 |
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Healthcare M2M Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Healthcare M2M Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
Why Choose Coherent Market Insights?
☛ Identified business opportunities – Our market research report can be used to analyze potential markets and new products. It can give information about customer needs, preferences, and attitudes. Also, it compare products and services.
☛ A clear understanding of your customers – A market report gives company’s marketing department an in-depth picture about customers’ needs and wants. This knowledge can be used to improve products, prices, and advertising.
☛ Clear data-driven insights – Our Market research encompasses a wide range of activities, from determining market size and segment to forecasting demand, and from identifying competitors to monitoring pricing. All of these are quantified and measurable which means that gives you a clear path for building unique decisions based on numbers.
Ask For Discount Before Purchasing This Business Report : https://www.coherentmarketinsights.com/insight/request-discount/1597
Explore More Related Insights:
- Healthcare Cloud Computing Market
- Internet of Things (IOT) Healthcare Market
- Pharmacovigilance Market
- Infection Surveillance Solutions Market
- Healthcare Automation Market
- Patient Registry Software Market
- Natural Language Processing (NLP) In Healthcare And Life Sciences Market
- Medical Case Management Services Market
- Healthcare Mobility Solutions Market
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact:
Mr Shah
Coherent Market Insights
533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837