With the increasing penetration of high-speed network, intensifying patient preferences for self-health monitoring, and adoption of smart wearables in healthcare services are leading to a growing demand for IoT medical devices. Moreover, with the increasing governments regulations for e-health and electronic health record (EHR) and magnifying deployment of connected devices are the major factors of increasing the demand for IoT medical devices during 2020-25.
Some countries are promoting digital health monitoring with the increasing prolonged diseases such as diabetes, cancer, cardiovascular diseases and arthritis, and rising preference of individuals for remote monitoring through real-time analysis. Moreover, the growing need for cost containment in healthcare delivery is promoting in the growth of IoT medical devices.
According to the MarkNtel Advisors’ research report titled “Global IoT Medical Devices Market Analysis, 2020”, the CAGR of IoT Medical Devices market is expected to be around 25% during 2020-25. On the basis of connectivity, the Bluetooth segment is expected to grow at the fastest pace owing to the OEMs taking measures for developing Bluetooth-enabled medical devices. Bluetooth enablement in medical devices cuts down the cost of deployment and low power consumption that acts as an advantage in the medical industry.
North America is considered to be the leading region in the growth of IoT medical devices followed by Europe owing to the growing disposable income and adoption of technology and preference of remote monitoring of health of patients.
On the basis on end users, long-term care centers, assisted living facilities, and nursing homes segment is growing at a significant rate due to the prolong treatment for the severe diseases, high cost of hospitals beds and growing number of assisted living homes. This segment is anticipated to register a considerable growth in future years.
Bluetooth segment acquired the highest market share in 2019 as the deployment cost and power consumption is low in comparison to Wi-Fi.
According to the MarkNtel Advisors, the leading players are Medtronic, GE Healthcare, Siemens, Biotelemetry, Philips Healthcare, Johnson and Johnson, Omron, Agamatrix, Stanley Healthcare and Ihealth Lab among others.
“Global IoT Medical Devices Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and growth opportunities and challenges available for automotive ventilation seats providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
Key Questions Answered in the Market Research Report
1. What are the key market statistics (Market Overview, Market Size, Forecast, CAGR, Market Segmentation, Market Shares) of Global IoT Medical Devices Market?
2. What are the key market or technology trends in Global IoT Medical Devices Market?
3. What are the significant innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global IoT Medical Devices Market?
4. Who are the key competitors or market players and how they perform in global competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global IoT Medical Devices Market study?