IoT in Healthcare Market to Grow due to Increasing Investments

1. Usage of Healthcare Internet of Things Increasing during COVID-19 Pandemic 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

2. One of the biggest trends in the technology landscape is the internet of things (IoT), which refers to any electronic device embedded with sensors and internet connection, allowing it to not only gather data about the purpose it is achieving, but also sending it through the internet to the relevant person or authority. Now, the IoT concept has penetrated the healthcare industry, especially with the increasing usage of connected medical devices, the most common and easily available of which is a smartwatch or fitness tracker. Market research firm P&S Intelligence expects the IoT in healthcare market revenue to display a massive 30.2% CAGR between 2018 and 2023, to reach $267.6 billion by 2023 from $56.1 billion in 2017. One of the biggest factors cited for this is the regulatory and financial support being offered for the integration of IoT in the healthcare industry in numerous parts of the world. For instance, the European Union (EU) invested $18.2 million in the Connecting Europe Facility (CEF) program in 2015 to deploy the digital service infrastructure (DSI) in the region. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/internet-of- things-in-healthcare-market/report-sample Under this initiative, governments of member countries were tasked with offering eProcurement, eHealth, online dispute resolution (ODR), and eIdentification (eID) services. Moreover, the British government invested $52.8 million in the three-year IoTUK program to advance the country’s IoT infrastructure. Similarly, as part of its Smart City Mission, Government of India is planning to provide IT solutions to connect doctors and patients, remotely. As all such smart healthcare initiatives will be implemented around connected devices, government efforts will continue to boost the adoption of IoT in healthcare. The various categories under the application segment of the IoT in healthcare market are clinical operations and workflow management, telemedicine, inpatient monitoring, connected imaging, and medication management. Among these, telemedicine held the largest share in the past, as it lets patients consult their doctor from home, using audio–video software and instruments. It is especially useful for senior citizens, who are susceptible to chronic diseases and physical injuries, therefore require long-term care. Additionally, many of them have weaker finances, so they cannot afford to travel regularly to healthcare centers. With connected devices, various health parameters, such as heart rate, blood pressure and oxygen saturation, body temperature, respiratory rate and efficiency, blood glucose, and weight, can be monitored and the data sent to doctors over the internet. This way, people do not have to physically be at their 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

3. doctor’s for regular checkups and consultation, as all of it can be done via web conferencing and other audiovisual software. Further, in the present times, with anti-COVID measures having been implemented around the world, telemedicine is enabling patients to stay home and avoid getting infected at hospitals. In the past, North America contributed the most significantly to the IoT in healthcare market, on account of its developed healthcare and IT infrastructure and strong government support for bringing the two fields closer. In addition, the prevalence of cardiovascular diseases, cancer, and diabetes is rather high in the region, which is leading to the rising demand for remote patient monitoring and consulting solutions. During the forecast period, Asia- Pacific (APAC) would witness the fastest growth in the market, due to the rising public and private spending on healthcare information technology (HIT) solutions and increasing geriatric population. Hence, with governments and private companies investing heavily in advancing their healthcare infrastructure, the demand for IoT solutions for medical purposes will increase. The research offers market size of the global Internet of Things (IoT) Healthcare Market for the period 2013–2023. Market Segmentation by Component Medical Devices • oWearable External oImplanted oStationary Systems and Software • oRemote Device Management oNetwork Bandwidth Management oData Analytics oApplication Security oNetwork Security Services • oSystem Integration oProfessional oSupport and Maintenance Market Segmentation by Technology Wi-Fi Bluetooth Low Energy Near Field Communication • • • 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

4. ZigBee Cellular Satellite • • • Market Segmentation by Application Telemedicine • oRemote Patient Monitoring oStore-and-Forward Telemedicine oInteractive Telemedicine Clinical Operations and Workflow Management Connected Imaging Inpatient Monitoring Medication Management Others Market Segmentation by End User Hospitals, Surgical Centers, and Clinics Clinical Research Organizations Research and Diagnostic Laboratories Others Market Segmentation by Geography North America IoT Healthcare Market • • • • • • • • • • oBy Component oBy Technology oBy Application oBy End User oBy Country U.S. IoT Healthcare Market By Component By Technology By Application By End User Canada IoT Healthcare Market By Component By Technology By Application By End User Europe IoT Healthcare Market ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ • 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

5. oBy Component oBy Technology oBy Application oBy End User oBy Country Germany IoT Healthcare Market By Component By Technology By Application By End User France IoT Healthcare Market By Component By Technology By Application By End User U.K. IoT Healthcare Market By Component By Technology By Application By End User Italy IoT Healthcare Market By Component By Technology By Application By End User Spain IoT Healthcare Market By Component By Technology By Application By End User Asia-Pacific (APAC) IoT Healthcare Market ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ • oBy Component oBy Technology oBy Application oBy End User oBy Country 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

6. China IoT Healthcare Market By Component By Technology By Application By End User Japan IoT Healthcare Market By Component By Technology By Application By End User India IoT Healthcare Market By Component By Technology By Application By End User Australia IoT Healthcare Market By Component By Technology By Application By End User Latin America (LATAM) IoT Healthcare Market ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ • oBy Component oBy Technology oBy Application oBy End User oBy Country Brazil IoT Healthcare Market By Component By Technology By Application By End User Mexico IoT Healthcare Market By Component By Technology By Application By End User ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ 6 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

7. Middle East and Africa (MEA) IoT Healthcare Market • oBy Component oBy Technology oBy Application oBy End User oBy Country South Africa IoT Healthcare Market By Component By Technology By Application By End User Saudi Arabia IoT Healthcare Market By Component By Technology By Application By End User U.A.E. IoT Healthcare Market By Component By Technology By Application By End User ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ 7 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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