IoT Medical Devices Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast

IoT Medical Devices Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global IoT Medical Devices Market is estimated to value over USD 56.6 billion by
2026 end and register a CAGR of over 25% during the forecast period 2019 to 2026.
Factors, for instance, government initiatives undertaken by both developing and
developed nations in order to promote digital health, the meteoric rise in usage of
high-speed technologies for networking applications and increased market
penetration of tablets, smartphones and other mobile platforms in healthcare
service sector are predicted to steer the global IoT medical devices market growth
over the forecast period.
The Wearable Medical Devices Are Predicted to Dominate the Global Market
The wearable medical devices segment is expected to grow at the highest CAGR
owing to rising awareness regarding healthcare, prioritizing preventive care, growing
necessity for prolonged home health patient monitoring due to the increasing ageing
population and presence of persistent diseases are making wearable devices to be
widely used, especially in home care settings.
The blood glucose monitoring devices accounted for the largest IoT medical devices
market share in 2018. Changing lifestyle and the increased adoption of smartphones
have swayed the momentum of the market towards wearable glucose monitoring
devices integrated with IoT technology since device-linked applications allow transfer
of crucial data to physicians for efficient patient diagnosis.
The assisted living facilities, home care settings, nursing homes segment is predicted
to proliferate at a high value of CAGR over the forecast period. The high segment
growth rate can be credited to the necessity for prolonged treatment of certain
persistent diseases, long-term care centers, assisted living facilities, increased priority
for preventive and participatory patient care, high costs of hospital accommodation
and the rising number of nursing homes. The increased preference towards
management of self-health has further accelerated the usage of medical devices
enabled by IoT for monitoring patients.
The Asia Pacific region is projected to augment with the highest growth rate over the
forecast time frame. Asia Pacific nations, India and China in particular, provide
lucrative opportunities for key players in the market due to the rising medical
tourism, increased initiatives by the government for promoting eHealth, growing
patient awareness pertaining to the management of self-health and the growing
insistence for provision of quality healthcare services.
Key market players included in the global IoT medical devices industry are
Medtronic, GE Healthcare, Philips, Siemens, Abbott Laboratories, Boston Scientific,
Honeywell Life Care Solutions, Biotronik, Johnson & Johnson, Omron,
Biotechnology, Alivecor, Agamatrix, Ihealth Lab, Stanley Healthcare, Welch Allyn.
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Global IoT Medical Devices Market Segmentation:
By Product
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Imaging Systems
Vital Signs Monitoring Devices
Implantable Cardiac Devices
Patient Monitors
Respiratory Devices
Infusion Pumps
Anaesthesia Machines
Neurological Devices
Hearing Devices
Fetal Monitoring devices
Ventilators
Other Products
By Type
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Stationary Medical Devices
Implantable Medical Devices
Wearable Medical Devices
Other IoT Medical Devices
By Connectivity
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Wi-Fi
Bluetooth
ZigBee
Other Connectivity Technologies
By End User
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Hospitals & Clinics
Nursing homes
Assisted Living Facilities
Long-Term Care Centres
Home Care Settings
Other End Users
By Region
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North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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FutureWise Key Takeaways:
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Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth
Objectives of the Study:
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To provide with an exhaustive analysis on the global IoT medical devices
market by product, by type, by connectivity, by end user and by region
To cater comprehensive information on factors impacting market growth
(drivers, restraints, industry-specific restraints and opportunities)
To forecast and evaluate micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North
America, Europe, Asia Pacific, Latin America and Middle East & Africa
To record, evaluate and analyse competitive landscape mappingtechnological advancements, product launches, expansions and mergers
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Global IoT Medical Devices Market is estimated to value over USD 56.6 billion by 2026 end and register a CAGR of over 25% during the forecast period 2019 to 2026.