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Global IoT Healthcare Market expected to exhibit a CAGR 11.0%

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Zion Market Research has published a new report titled “Global IoT Healthcare Market Size & Trends 2016: Industry Research & Forecast Up to 2022”. According to the report, the global IoT Healthcare Market was valued at around USD 5,800 million in the year 2014 and it is expected to reach approximately USD 14,660 million by 2022. This means that the global IoT Healthcare market will be exhibiting a CAGR of more than 11.0% between 2017 and 2022.

The report titled “IoT Healthcare Market” from Zion Market Research covers various aspects of the healthcare i.e. by Component (Medical Devices, Services, Systems & Software) and for Application (Clinical Operations & Work Flow Management, Telemedicine, Connected imaging, Medication Management, Inpatient Management and Others). The report also talks about Connectivity (WiFi, Bluetooth Low Energy, Zigbee, Near Field Communication (NFC), Cellular and Satellite) and by end users (Clinical Research Organization (CR), Government and Defense Institutions, Hospitals, Surgical Centers and Clinics and Research and Diagnostics Laboratories). The report is a complete industry analysis which covers size, share, growth, trends, and forecast between 2016 to 2022.

In developed countries, IoT has been successfully implemented in remote monitoring of diabetes and asthma patients, coupled with high penetration of fitness and wellness devices. All this is contributing to the sales of the IoT Healthcare systems. Actually, the increasing implementation of diverse equipment (Diagnostic as well as therapeutic) in detecting and maintaining the health is driving the growth of the global IoT Healthcare market.

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The systems and software are having a huge demand in the Global IoT Healthcare Market owing to increasing applications in all the medical devices, as it is the skeleton of medical devices to perform its actual functioning of interconnection between two devices. Systems and Software segment is expected to grow with a CAGR of 12.6% over the forecast period.

The report also shared that wearable external medical devices are dominating the Global IoT Healthcare Market in medical devices segment due to the increased adoption of IoT technology in advanced healthcare and fitness devices. The remote patient monitoring experienced a huge leap in 2016. Total 7.1 million patients were enrolled in some form of digital healthcare program featuring connected medical devices that used the patient’s own mobile devices. Owing to the rising popularity and increasing demand, the segment is likely to grow at a higher CAGR of 11.3% over the forecast period.

The report claims Telemedicine as the leading application type segment in Global IoT Healthcare market. This is the most recent application utilizing the IoT technology in maintaining the patient data and tracking the where about of the patient.

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