Global IoT Medical Devices Market: Overview
The global IoT market is anticipated to rise at a notable rate owing to the government initiatives in order to promote digital health. IoT services are used for emergency notification systems and remote health monitoring. Also known as smart healthcare, internet if things in the field of healthcare has turned up to be a boon in terms of connecting medical devices and providing better medical help to people with the help of technology, under the guidance of both human skills and artificial intelligence.
There are different variations of the global IoT medical devices market with respect to product, type, connectivity technology, and end-user. Based on product, the IoT medical device market is classified into vital signs monitoring devices, imaging systems, respiratory devices, implantable cardiac devices, infusion devices, anesthesia machines, neurological devices, hearing devices, fetal monitoring devices, and ventilators. The vital signs monitoring devices category is sub-categorized into oximeters, multiparameter monitors, blood pressure monitors, ECG or heart rate monitors and blood glucose monitors. Sub-division of implantable cardiac devices are implantable cardiac monitors, pacemakers, and implantable cardioverter defibrillators.
Based on categorization by device type, the global IoT medical devices market is divided into wearable medical devices, implantable medical devices, and stationary medical devices. Based on segmentation by connectivity technology, the market could be segmented into zigbee, Bluetooth, and wi-fi connections. With regard to categorization by end-user, the market is classified into home care centers, long-term care centers, assisted living facilities and nursing homes.
The report presented above is a complete evaluation of the global IoT medical devices market with large focus on market dynamics. It also includes the market drivers, restraints, and trends, and opportunities. The above presented report also offers geographical as well as other segmentation of the market.
Global IoT Medical Devices Market: Trends and Opportunities
Major factors to propel the global IoT medical devices market are the growing need for cost efficient services in healthcare and medical sector for patients. Besides the surge in cases of chronic diseases like arthritis, cancer, diabetes and cardiovascular diseases are increasing the burden of hospitals and clinics by the day. The increase in the number of new hospital and medical center set-ups are also creating more opportunities of growth in the years to come.
Apart from that patient care and patient engagement is now given more importance which in a way, is adding more boost to the market as more and more people are opting for IoT medical devices for their family member’s proper hospital care. The rise in focus on safety of patients is expected to open new doors of opportunity to the overall market.
The introduction and usage of high speed internet and networking technology along with the rise in usage of tablets, smartphones, and other mobile programs are also anticipated to propel the market for IoT medical device market in the years to come.
The government of various countries are also taking more initiatives and investing more funds in order to improve their health infrastructure and medical healthcare delivery. Apart from that, the high deployment cost of connected medical equipment and their associated infrastructure is also projected to be drawing more revenue into the market in the long run.
Global IoT Medical Devices Market: Regional Analysis
The global IoT medical devices market can be classified geographically into the regions of Latin America, North America, Asia Pacific, Europe, and Middle East and Africa. Trends prevalent across these regions are studied in detail. Furthermore, the impact of prevailing government policies and economic trends on demand witnessed in these regions is also examined in detail.
Global IoT Medical Devices Market: Companies Mentioned
Important players of the global IoT medical devices market are Siemens AG (Germany), Welch Allyn (US), Boston Scientific Corporation (US), Koninklijke Philips N.V. (Netherlands), and Johnson & Johnson Services, Inc. (US).
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
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.