Internet Of Things (IoT) In Healthcare Market Share, Opportunities Analysis, Recent Trends, Regional Growth And Outlook By 2033

The internet of things (iot) in healthcare market size has grown exponentially in recent years. It will grow from $188.23 billion in 2023 to $229.44 billion in 2024 at a compound annual growth rate (CAGR) of 21.9%. The growth in the historic period can be attributed to economic growth in emerging markets, rising prevalence of chronic diseases, and increase in internet penetration.

The internet of things (iot) in healthcare market size is expected to see exponential growth in the next few years. It will grow to $481.64 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to increasing adoption of smart devices and wearables in healthcare, increase in geriatric population and growing adoption of digital transformation in healthcare. Major trends in the forecast period include technological advancements, use of telemedicine, edge computing technology, adoption of real time health monitoring system, product launch, and partnerships and collaborations.

Market Overview -
The internet of things (IoT) in healthcare refers to a solution that combines wireless communication, sensing and positioning technologies, the cloud, and data and security services to provide improved preventative healthcare as well as the diagnosis, cure, treatment, and monitoring of health conditions. IoT in healthcare helps in the remote monitoring of the patients to smart sensors integration into medical devices by keeping the patients safe and healthy and helps the physician to deliver proper care to the patients.

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Digital Transformation Accelerates Growth In Internet Of Things In Healthcare Market
The growing adoption of digital transformation is expected to contribute to the growth of the internet of things in the healthcare market. Digital Transformation of the healthcare industry refers to the transformation through various technologies and digital care programs to serve patients better with advancements in healthcare. The increase in digital transformation in healthcare increased the use of various technologies, such as artificial intelligence in healthcare. 81% of healthcare executives say the pace of digital transformation for their organization is accelerating, and 93% report that they are innovating with a sense of urgency and call to action this year. For example, PharmStars, is trying to get pharma and digital health companies on the same page to foster collaborations and innovation. The KidsX Accelerator program was launched in 2021, to fuel the development of digital health solutions in pediatrics, a historically overlooked area. For instance, according to the India Brand Equity Foundation, an Indian government ministry, the Indian digital healthcare market is expected to reach $485.43 billion by 2024. Therefore, the growing adoption of digital transformation in healthcare will promote the growth of the internet of things in healthcare market.

Competitive Landscape -
Major companies operating in the internet of things (iot) in healthcare market report are IBM Corporation, Microsoft Corporation, Koninklijke Philips N.V, GE Healthcare, Cisco Systems Inc., SAP SE, Medtronic PLC, Siemens Healthiness GmbH, Intel Corporation, Comarch, Lenovo Healthcare Information Technology, China Unicom Ltd., MyrIoTa, NTT Communications, HCL technologies Harbinger system, Aeron Systems, FuGenX Technologies Pvt. Ltd, Fuji Electric Systems Co., Ltd, Mediatek Inc., Huawei, Telkom Indonesia, Xiaomi Inc., Apteki+, Insilico Medicine, Gero, Alibaba Group Holding Ltd., Bioserenity, Orange Business Services, Robert Bosch GmbH Singtel, Infineon Technologies, BIoTronik, Coimbra Genomics, Doctoralia, Emperra, Exovite, Genexyx, NeurNation, Psious, Px Healthcare, TrialReach, XtremeVRI, Skin Analytics, Babylon Health, Cambridge Cognition, DeepMind Technologies, BenevolentAI, Renalytix AI, Exscientia, Iktos, Novartis, Care Mentor AI, MediSensum, Botkin, Ardigen, Hill-Rom Services, Inc., Oracle Corporation, Altizon Systems, Qualcomm Technologies Inc, Fire Eye Inc., STANLEY Healthcare, TeleMD, Webiomed, Senseonics Holdings Inc, TeleTracking Technologies Inc, Honeywell Lifecare Solutions, Deep Genomics, Cyclica, Boston Scientific Corporation, Health Care Originals, Dacadoo, Healthbank, SilverCloud, Diagnocat, Hewlett Packard Enterprise UAE, Nutrino.

Advancements In Technology Propel Growth In The Internet Of Things (IOT) In Healthcare Market
Technological advancements are a key trend gaining popularity in the internet of things (IoT) in the healthcare market. 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.

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Key Segments -
The internet of things (iot) in healthcare market covered in this report is segmented -
1) By Component: Medical Devices, Systems and Software, Services
2) By Connectivity Technology: Cellular, Wi-Fi, Near Field Communications, Satellite, Bluetooth, Zigbee
3) By Application: Telemedicine, Clinical Operations and Workflow Management, Inpatient Monitoring, Medication Management, Connected Imaging, Other Applications
4) By End Users: Clinical Research Organizations, Government Institutions, Research and Diagnostic Laboratories, Hospitals and Clinics, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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