Internet of Things (IoT) in Healthcare Market Share, Size, Trends, Industry Analysis Report; By Component (Medical device, System & software, Services); By Connectivity Technology; By End-User; By Application; By Region; Segment Forecast, 2024 - 2032

Internet of Things (IoT) in Healthcare Market Share, Size, Trends, Industry Analysis Report; By Component (Medical device, System & software, Services); By Connectivity Technology; By End-User; By Application; By Region; Segment Forecast, 2024 - 2032

The global Internet of Things (IoT) in Healthcare Market size is expected to reach USD 556.71 billion by 2032, according to a new study by Polaris Market Research. The report “IoT in Healthcare Market Share, Size, Trends, Industry Analysis Report; By Component (Medical device, System & software, Services); By Connectivity Technology; By End-User; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

IoT (Internet of Things) intends to expand the scope of information and communication technology by incorporating software and hardware to collect, communicate, and integrate data through short-range mobile transceivers into various healthcare gadgets. To make better use of their resources, biotechnology, hospitals, diagnostic labs, and pharmaceutical businesses employ this technology. IoT technology is being widely adopted by hospitals to provide cost-effective information and vital pharmaceuticals in real-time to patients as well as healthcare professionals. It is also being incorporated into medical equipment to monitor blood pressure, heart rate, and blood glucose levels, among other health factors. IoT-enabled medical devices help doctors and other healthcare professionals diagnose chronic illnesses, including diabetic, neurological, and cardiovascular ailments, early and in real-time.

The IoT healthcare industry is anticipated to face concerns with data privacy and cybersecurity. Patients personal and healthcare information is stored, makes it susceptible to data breaches. Sensitive user data, such as financial transaction data, insurance details, medical history, and illness information can be possibly exploited.

In recent years, the trend of IoT in healthcare has emerged, giving rise to rapidly evolving sectors like remote patient monitoring, transmitting real-time health data, healthcare providers making informed decisions and patients receiving timely care, Predictive Analytics and AI, the merging of IoT into predictive analytics, and AI leads to a transformative era in healthcare, Robotics in Healthcare, integrates advanced robotic systems into various fields of healthcare, enhancing precision, outcomes and efficiency, Edge Computing in Healthcare, crucial for time-sensitive decisions reducing the latency and making real-time data analysis possible, Smart Hospitals and Integrated Healthcare Systems which improves patient care, resource management.

IoT in Healthcare Market Report Highlights

Medical devices dominated the segment due to the increasing usage and the rising demand for efficient and cost-effective ways to offer healthcare services.

The cellular connectivity technology segment has dominated the market. It allows massive volumes of data to be sent across long distances, enabling data gathering and distribution in real-time.

Hospitals, Surgical Centers, and Clinics have witnessed the highest CAGR owing to growing hospitals' operational and functional efficiency as a result of IoT.

North America led the industry and accounted for a majority of the market revenue share, owing to a rapid increase in the usage of telemedicine, e-reports, and IoT solutions in managing patients.

The global key market players include Cisco Systems Inc., GE Healthcare Ltd., Honeywell Life Care Solutions, IBM Corporation, Koninklijke and many others.

Polaris Market Research has segmented the IoT in Healthcare market report based on component, connectivity technology, end-user, application and region:

IoT in Healthcare, Component Outlook (Revenue - USD Billion, 2019 - 2032)

Medical device

System & software

Services

IoT in Healthcare, Connectivity Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Cellular

Low Power Wide Area Networks

IoT in Healthcare, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

Hospitals, Surgical Centers, and Clinics

Clinical Research Organizations

Government and Defense Institutions

Research and Diagnostic Laboratories

IoT in Healthcare, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Telemedicine

Clinical Operations and Workflow Management

Connected Imaging

Inpatient Monitoring

Medication Management

Others

IoT in Healthcare, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Australia

Malaysia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa