Over the past few years, the healthcare industry has been witnessing increasing adoption of machine to machine (M2M) technology in order to reduce skyrocketing healthcare costs, increase adherence to medical regimens and improve better patient care. M2M connected healthcare is a healthcare delivery model that operates in an IT ecosystem, and allow easy access and sharing of healthcare related data such as patient medical history data, patient personal information, prescription information, diagnostic results, clinical data and others. Home monitoring, clinical monitoring, assisted living and telemedicine are among the major functions carried out by M2M connected healthcare systems. M2M connected healthcare saves time by connecting patients, healthcare providers and treatment systems over the internet. The M2M connected healthcare systems can use wired or wireless connectivity to share healthcare data between web-connected devices without the need of human involvement.
The global market for M2M connected healthcare has been segmented into home monitoring, clinical monitoring, clinical trials, telemedicine, assisted living, worried well and clinical remote monitoring. Significant advantages associated with M2M connected healthcare have been identified as the major factors driving the M2M connected healthcare market growth. These advantages include reduced time, reduced healthcare cost, easy sharing of healthcare data and remote healthcare monitoring. M2M model also enables patients with more control over their treatment regime. Globally rising incidences of various chronic diseases such as diabetes, cancer and hypertension are also expected to play a key role in driving the market growth during the forecast period from 2014 to 2020. Persistent rise in geriatric population directly impacts the growth and development of connected health M2M services as elderly population is highly susceptible to acquire several health disorders as compared to younger adults. According to World Health Organization (WHO) projections, in 2010, global geriatric population was around 524 million and is anticipated to reach around 1.5 billion by the year 2050. Thus, a consistent rise in geriatric population would boost the growth of M2M connected healthcare market as they will increasingly seek M2M connected health services. One of the major factors that are expected to affect the market growth is that stake holders should have access to internet connection.
In terms of geography, the global market for M2M connected healthcare has been segmented into four major regions, namely, North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). North America represented the largest regional market for M2M connected healthcare in 2013. Well established healthcare infrastructure of the North American countries U.S. and Canada, and presence of a large pool of technically-savvy patient population are among the major factors responsible for North America’s leading position in this market segment. Europe represented the second largest market after North America. Germany, France, United Kingdom, Italy and Spain are the most potential markets in the European region that accounted for more than 60% of the overall Europe M2M connected healthcare market. During the forecast period from 2014 to 2020, APAC is expected to witness significant growth as M2M connected healthcare model will help in serving patients residing in remote area, overcoming distance barriers.
Allscripts, IBM, Apple, AirStrip Technologies, Cisco Networks, Microsoft, AT&T, BL Healthcare, Ingenious Med, NeuroVigil, PharmaSecure, QxMD Software, WellDoc and ObTech Medical are among the major players operating in this market. These players are competing with each other in order to get competitive advantages over others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.