LONDON, Oct. 25, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the internet of things (IoT) in healthcare market, the increasing adoption of smart devices and wearables in healthcare is expected to propel the growth of the internet of things (IoT) in the healthcare market going forward. A smart device is an electronic device or a connected device that can connect, share, and communicate with its owner and other smart devices. Wearable and smart devices can increase the accuracy of health information while also encouraging healthier behavior in individuals using IoT technologies, resulting in significant improvements in their health and lower healthcare expenditures.
For instance, according to the Times of India, an India-based newspaper published in April 2022, from just a little over 200 million connected devices in India in 2019, the sweep of IoT coupled with the rapid digital transformation during the pandemic brought the number of connected devices to over 2 billion in 2021. Therefore, the increasing adoption of smart devices and wearables in healthcare is driving the internet of things (IoT) in healthcare industry.
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The global internet of things (IoT) in healthcare market size is expected to grow from $130.26 billion in 2021 to $158.03 billion in 2022 at a compound annual growth rate (CAGR) of 21.3%. The global internet of things (IoT) in healthcare market share is expected to grow to $354.66 billion in 2026 at a compound annual growth rate (CAGR) of 22.4%.
Technological advancements are gaining popularity among the internet of things (IoT) in healthcare market trends. Major companies operating in the IoT in the healthcare market are developing new technologies to strengthen their position in the market. For instance, in November 2021, GE Healthcare, a US-based diagnostic imaging agents and radiopharmaceuticals manufacturer operating in the IoT in the healthcare market, unveiled around 60 innovative technology solutions, underpinned by artificial intelligence (AI) and digital solutions to help transform healthcare delivery, including patient screening, diagnostics, therapy planning, guidance, and monitoring. ulrichINJECT CT Motion uses automated syringeless technology to help workflow efficiencies. Digital expert access is a real-time virtual solution, integrated into imaging devices.
Major players in the internet of things (IoT) in healthcare market are Medtronic plc, Koninklijke Philips NV, Cisco Systems Inc, International Business Machines Corporation, GE Healthcare, Microsoft Corporation, SAP SE, Qualcomm Technologies Inc, STANLEY Healthcare, Siemens Healthineers AG, Senseonics Holdings Inc, Saudi German Hospitals Group, Wipro Limited, TeleTracking Technologies Inc, Biotronic.
The global internet of things IoT in healthcare market is segmented by component into medical devices, systems and software, services; by connectivity technology into cellular, Wi-Fi, near field communications, satellite, bluetooth, zigbee; by application into telemedicine, clinical operations and workflow management, inpatient monitoring, medication management, other applications; by end-use into clinical research organizations, government institutions, research and diagnostic laboratories, hospitals and clinics, other end users.
North America was the largest region in the internet of things (IoT) in healthcare market in 2021. Asia-Pacific is expected to be the fastest growing region in the global internet of things (IoT) in healthcare market during the forecast period. The regions covered in the global internet of things (IoT) in healthcare market research report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Internet Of Things (IoT) In Healthcare Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide internet of things (IoT) in healthcare market overviews, internet of things (IoT) in healthcare market analyze and forecast market size and growth for the whole market, internet of things (IoT) in healthcare market segments and geographies, internet of things (IoT) in healthcare market trends, internet of things (IoT) ) in healthcare market drivers, internet of things (IoT) in healthcare market restraints, internet of things (IoT) in healthcare market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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