IoT in Healthcare Market Size to Grow to USD 289.2 billion by 2028, at a CAGR of 17.8% - ReportsnReports
PUNE, India, March 27, 2023 /PRNewswire/ -- The IoT (Internet of Things) has already started revolutionizing the healthcare industry by providing seamless connectivity and data sharing between patients, healthcare providers, and medical devices. IoT-enabled healthcare solutions have the potential to enhance patient outcomes, optimize healthcare delivery, and reduce healthcare costs.
The global IoT in healthcare market size is projected to grow from USD 127.7 billion in 2023 to USD 289.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period.
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The need to streamline operations by automating a range of healthcare processes inorder to reduce costs and improve efficiency will drive the market.
Some of the key IoT healthcare applications include:
Remote Patient Monitoring: IoT-enabled devices such as wearables, smart sensors, and mobile apps can help healthcare providers monitor patients' health remotely, collect real-time data, and make informed decisions.
Asset Management: IoT solutions can help healthcare providers track and manage medical devices, equipment, and supplies, ensuring optimal utilization and reducing wastage.
Patient Engagement: IoT solutions can improve patient engagement by providing personalized care plans, medication reminders, and health education materials.
Clinical Workflow Optimization: IoT solutions can streamline clinical workflows by automating routine tasks such as patient registration, appointment scheduling, and medical record management.
Predictive Maintenance: IoT solutions can help healthcare providers detect equipment failuresand perform preventive maintenance, reducing downtime and improving patient safety.
This research study outlines the market potential, market dynamics, and major vendors operating in the IoT in Healthcare market. Key and innovative vendors in the IoT in Healthcare market include Cisco (US), IBM (US), GE Healthcare (US), Microsoft (US), SAP (Germany), Medtronic (Ireland), Royal Philips (Netherlands), Resideo Technologies (US), Securitas (Sweden), Bosch (Germany), Armis (US), Oracle (US), PTC (US), Huawei (China), Seimens ( Germany), R-Style Lab (US), HQSoftware (Estonia), Oxagile (US), Softweb Solutions (US), OSP Labs (US), Comarch SA (Poland), Telit (UK), Kore Wireless (US), ScienceSoft (US), Intel (US), AgaMatrix (US), Welch Allyn (US), AliveCor (US), Sensly (US), Clover Health (US).These vendors have adopted many organic as well as inorganic growth strategies, such as new product launches, and partnerships and collaborations, to expand their offerings and market shares in the IoT in Healthcare market.
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Related Research Report:
Global IoT Sensors in Healthcare Market 2023 by Company, Regions, Type and Application, forecast to 2029 - This report profiles key players in the global IoT Sensors in Healthcare market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include JTAG Technologies, CHECKSUM, Testonica Lab, ASSET InterTech and Acculogic, etc.
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