The global Internet of Things (IOT) in Healthcare market size was estimated at USD 180.5 billion in 2021 and is expected to surpass around USD 960.2 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 20.41% during the forecast period 2022 to 2030.
Key Takeaways:
The internet of things (IoT) is described as a network of physical devices that uses connectivity to enable the exchange of data. In addition, in healthcare filed, IoT is used for the data collection, analysis for research, and monitoring electronic health records which contains personally identifiable information, protected health information, and for other machine-generated healthcare data. Further, IoT applications in healthcare facilitate important tasks such as to improve patient outcomes, and also take some burden off health practitioners. Internet of Things (IoT)-enabled devices have made remote monitoring in the healthcare sector possible, unleashing the potential to keep patients safe and healthy, and empowering physicians to deliver superlative care. Furthermore, from 2017 to 2022, growth in IoT healthcare applications is indeed projected to accelerate as the Internet of Things is a key component in the digital transformation of the healthcare industry and various stakeholders are stepping up their effort in this field.
The pandemic has caused change in providers' willingness to implement IoT solutions which helped in diagnosing the virus using internet of things. Further, many IoT technology is playing a growing role in helping authorities to prevent the further spread of COVID-19, while also treating those that have been infected. IoT, specifically and especially when combined with other transformative technologies such as Cloud and Artificial intelligence (AI). This led to wide range of applications of IoT in healthcare during this crisis. For instance, According to the WHO, in 2020, patients and staff at a field hospital in Wuhan, China, wore bracelets and rings synced with an AI. This platform from CloudMinds the Beijing-based operator of cloud-based systems for intelligent robots to provide constant monitoring of vital signs, including temperature, heart rate, and blood oxygen levels during Covid-19 pandemic. In addition, in India, the mobile application named as aarogya setu app, launched by the Union Health ministry on April 2, 2020 which helps users identify whether they are at a risk of COVID-19 infection. Therefore, Covid-19 has uplifted the demand of internet of things in healthcare market and provides opportunities for the manufacturers in various applications in the healthcare domain during the forecast period.
The major factors that contribute toward the growth of the internet of things in healthcare market include owing to technological advancements, rising incidence rates of chronic diseases such as COPD, genetic diseases, respiratory diseases, and others, better accessibility to high-speed internet, implementation of favorable government regulatory policies. Furthermore, growing demand for cost-effective treatment and disease management, increased adoption of smart devices and wearables, increasing interest in self-health measurement, and reduced healthcare cost with advanced and cost effectives IoT in healthcare products and solutions. Moreover, rising interest of the startup companies in IoT healthcare industry such as MedAngelONE, Amiko, SWORD health, and Aira, is expected to boost the market growth. However, factors such as high costs associated with IoT infrastructure development, data privacy and security issues, lack of awareness among public in developing regions, and limited technical knowledge are expected to impede the market growth. Various factors such as government initiatives to support IoT platform, improvement in healthcare infrastructure in developing countries, and high R&D spending are expected to boost the market growth.
Report Scope of the Internet of Things (IOT) in Healthcare Market
Report Coverage |
Details |
Market Size in 2022 |
USD 217.34 Billion |
Market Size by 2030 |
USD 960.2 Billion |
Growth Rate from 2022 to 2030 |
CAGR of 20.41% |
Base Year |
2021 |
Forecast Period |
2022 to 2030 |
Segments Covered |
Medical Devices, Software and System, Services, Product, Connectivity, End User and Geography |
Companies Mentioned |
Medtronic (US), Hillrom- Welch Allyn (US), Stanley Healthcare (US), Abbott Laboratories, AgaMtrix (US), iHealth Lab, Inc, AliveCor,Inc, Bio Telemetry, Inc, Omron Healthcare, Inc (Japan), Siemens AG (Germany), Johnson & Johnson Services, Inc, Boston Scientific Corporation (US), BIOTRNIK (Germany), Honeywell Life Care Solutions (US), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US) |
Key Findings in the Global Internet of Things (IoT) in Healthcare Market Study:
Hospitals and Clinics Will Continue to Dominate the Internet of Things (IoT) in Healthcare Market by 2030
The Internet of Things (IoT) in Healthcare Market among hospitals and clinics commanded the largest share of the Internet of Things (IoT) in Healthcare technologies market in 2021. Growing adoption of IoT enabled medical devices among healthcare providers in order to improve the efficiency of care delivery and enable patient-centric care delivery services are some of the key factors contributing to the growth of this market.
Over the years, the hospitals have been burdened with increasing number of patients, owing to growing incidence of chronic care diseases such as diabetes, cardiovascular diseases, arthritis, and cancer. With growing number of patients treated, the amount of patient information generated is on the rise, exponentially. IoT infrastructure helps in integrating all the medical devices with the hospital information systems in a seamless manner and thereby improve the operational and clinical workflow within and outside healthcare organization. It also helps in minimizing the turn-around time of care and lower the overall cost of care within hospital settings.
Government initiatives to modernize healthcare infrastructure is also expected to drive adoption of IoT-enabled medical devices among hospitals and healthcare providers and thereby contribute to the growth of the IOT market among hospitals and clinics.
Regional Insights
Asia Pacific: Fastest Growing Regional Market
North America accounted for the largest share of the global Internet of Things (IoT) in Healthcare Market in 2021, followed by Europe and Asia-Pacific regions. However, during the forecast period, the APAC market is expected to register the fastest CAGR. The growth in this geographic market is primarily attributed to the growing smartphone penetration, widening internet connectivity and high-speed networks, need to manage growing burden of chronic diseases on healthcare providers, and government efforts to improve accessibility of healthcare services to remote locations. India and China represent the fastest growing markets in this region and globally as well. Rapid infrastructure development initiatives from governments is expected to fuel a multifold growth in Internet of Things (IoT) in Healthcare Market in India and China over the coming years.
Some of the prominent players in the Internet of Things (IOT) in Healthcare Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Internet of Things (IOT) in Healthcare market
By Medical Devices
By Software and System
By Services
By Product
By Connectivity
By End User
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Internet of Things (IOT) in Healthcare Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Internet of Things (IOT) in Healthcare Market
5.1. COVID-19 Landscape: Internet of Things (IOT) in Healthcare Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Internet of Things (IOT) in Healthcare Market, By Medical Devices
8.1. Internet of Things (IOT) in Healthcare Market, by Medical Devices, 2022-2030
8.1.1. Stationary Medical Devices
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Wearable External Medical Devices
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Implantable Medical Device
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Other medical devices
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Internet of Things (IOT) in Healthcare Market, By Software and System
9.1. Internet of Things (IOT) in Healthcare Market, by Software and System, 2022-2030
9.1.1. Application Security
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Network Security
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Data Analytics
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Remote Device Management
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Network Bandwidth Management
9.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Internet of Things (IOT) in Healthcare Market, By Services
10.1. Internet of Things (IOT) in Healthcare Market, by Services, 2022-2030
10.1.1. Architecture (System Integration)
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Consulting
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Application Development (Support and Maintenance)
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Internet of Things (IOT) in Healthcare Market, By Product
11.1. Internet of Things (IOT) in Healthcare Market, by Product, 2022-2030
11.1.1. Vital Signs Monitoring Devices
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Imaging Systems
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. Respiratory Devices
11.1.3.1. Market Revenue and Forecast (2017-2030)
11.1.4. Implantable Cardiac Devices
11.1.4.1. Market Revenue and Forecast (2017-2030)
11.1.5. Patient Monitors
11.1.5.1. Market Revenue and Forecast (2017-2030)
11.1.6. Infusion Pump
11.1.6.1. Market Revenue and Forecast (2017-2030)
11.1.7. Fetal Monitoring Devices
11.1.7.1. Market Revenue and Forecast (2017-2030)
11.1.8. Neurological Devices
11.1.8.1. Market Revenue and Forecast (2017-2030)
11.1.9. Ventilators
11.1.9.1. Market Revenue and Forecast (2017-2030)
11.1.10. Anesthesia Machines
11.1.10.1. Market Revenue and Forecast (2017-2030)
11.1.11. Hearing Devices
11.1.11.1. Market Revenue and Forecast (2017-2030)
11.1.12. Other Products
11.1.12.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Internet of Things (IOT) in Healthcare Market, By Connectivity
12.1. Internet of Things (IOT) in Healthcare Market, by Connectivity, 2022-2030
12.1.1. Bluetooth
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Zigbee
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Wi-Fi
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. NFC
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. Embedded System
12.1.5.1. Market Revenue and Forecast (2017-2030)
12.1.5. Others
12.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Internet of Things (IOT) in Healthcare Market, By End User
13.1. Internet of Things (IOT) in Healthcare Market, by End User, 2022-2030
13.1.1. Hospitals
13.1.1.1. Market Revenue and Forecast (2017-2030)
13.1.2. Clinics
13.1.2.1. Market Revenue and Forecast (2017-2030)
13.1.3. Clinics
13.1.3.1. Market Revenue and Forecast (2017-2030)
13.1.4. Others
13.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 14. Global Internet of Things (IOT) in Healthcare Market, Regional Estimates and Trend Forecast
14.1. North America
14.1.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.1.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.1.3. Market Revenue and Forecast, by Services (2017-2030)
14.1.4. Market Revenue and Forecast, by Product (2017-2030)
14.1.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.1.6. Market Revenue and Forecast, by End User (2017-2030)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.1.7.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.1.7.3. Market Revenue and Forecast, by Services (2017-2030)
14.1.7.4. Market Revenue and Forecast, by Product (2017-2030)
14.1.8. Market Revenue and Forecast, by Connectivity (2017-2030)
14.1.8.1. Market Revenue and Forecast, by End User (2017-2030)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.1.9.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.1.9.3. Market Revenue and Forecast, by Services (2017-2030)
14.1.9.4. Market Revenue and Forecast, by Product (2017-2030)
14.1.10. Market Revenue and Forecast, by Connectivity (2017-2030)
14.1.11. Market Revenue and Forecast, by End User (2017-2030)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.2.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.2.3. Market Revenue and Forecast, by Services (2017-2030)
14.2.4. Market Revenue and Forecast, by Product (2017-2030)
14.2.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.2.6. Market Revenue and Forecast, by End User (2017-2030)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.2.8.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.2.8.3. Market Revenue and Forecast, by Services (2017-2030)
14.2.9. Market Revenue and Forecast, by Product (2017-2030)
14.2.10. Market Revenue and Forecast, by Connectivity (2017-2030)
14.2.10.1. Market Revenue and Forecast, by End User (2017-2030)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.2.11.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.2.11.3. Market Revenue and Forecast, by Services (2017-2030)
14.2.12. Market Revenue and Forecast, by Product (2017-2030)
14.2.13. Market Revenue and Forecast, by Connectivity (2017-2030)
14.2.14. Market Revenue and Forecast, by End User (2017-2030)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.2.15.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.2.15.3. Market Revenue and Forecast, by Services (2017-2030)
14.2.15.4. Market Revenue and Forecast, by Product (2017-2030)
14.2.16. Market Revenue and Forecast, by Connectivity (2017-2030)
14.2.16.1. Market Revenue and Forecast, by End User (2017-2030)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.2.17.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.2.17.3. Market Revenue and Forecast, by Services (2017-2030)
14.2.17.4. Market Revenue and Forecast, by Product (2017-2030)
14.2.18. Market Revenue and Forecast, by Connectivity (2017-2030)
14.2.18.1. Market Revenue and Forecast, by End User (2017-2030)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.3.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.3.3. Market Revenue and Forecast, by Services (2017-2030)
14.3.4. Market Revenue and Forecast, by Product (2017-2030)
14.3.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.3.6. Market Revenue and Forecast, by End User (2017-2030)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.3.7.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.3.7.3. Market Revenue and Forecast, by Services (2017-2030)
14.3.7.4. Market Revenue and Forecast, by Product (2017-2030)
14.3.8. Market Revenue and Forecast, by Connectivity (2017-2030)
14.3.9. Market Revenue and Forecast, by End User (2017-2030)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.3.10.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.3.10.3. Market Revenue and Forecast, by Services (2017-2030)
14.3.10.4. Market Revenue and Forecast, by Product (2017-2030)
14.3.11. Market Revenue and Forecast, by Connectivity (2017-2030)
14.3.11.1. Market Revenue and Forecast, by End User (2017-2030)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.3.12.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.3.12.3. Market Revenue and Forecast, by Services (2017-2030)
14.3.12.4. Market Revenue and Forecast, by Product (2017-2030)
14.3.12.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.3.12.6. Market Revenue and Forecast, by End User (2017-2030)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.3.13.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.3.13.3. Market Revenue and Forecast, by Services (2017-2030)
14.3.13.4. Market Revenue and Forecast, by Product (2017-2030)
14.3.13.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.3.13.6. Market Revenue and Forecast, by End User (2017-2030)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.4.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.4.3. Market Revenue and Forecast, by Services (2017-2030)
14.4.4. Market Revenue and Forecast, by Product (2017-2030)
14.4.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.4.6. Market Revenue and Forecast, by End User (2017-2030)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.4.7.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.4.7.3. Market Revenue and Forecast, by Services (2017-2030)
14.4.7.4. Market Revenue and Forecast, by Product (2017-2030)
14.4.8. Market Revenue and Forecast, by Connectivity (2017-2030)
14.4.9. Market Revenue and Forecast, by End User (2017-2030)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.4.10.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.4.10.3. Market Revenue and Forecast, by Services (2017-2030)
14.4.10.4. Market Revenue and Forecast, by Product (2017-2030)
14.4.11. Market Revenue and Forecast, by Connectivity (2017-2030)
14.4.12. Market Revenue and Forecast, by End User (2017-2030)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.4.13.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.4.13.3. Market Revenue and Forecast, by Services (2017-2030)
14.4.13.4. Market Revenue and Forecast, by Product (2017-2030)
14.4.13.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.4.13.6. Market Revenue and Forecast, by End User (2017-2030)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.4.14.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.4.14.3. Market Revenue and Forecast, by Services (2017-2030)
14.4.14.4. Market Revenue and Forecast, by Product (2017-2030)
14.4.14.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.4.14.6. Market Revenue and Forecast, by End User (2017-2030)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.5.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.5.3. Market Revenue and Forecast, by Services (2017-2030)
14.5.4. Market Revenue and Forecast, by Product (2017-2030)
14.5.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.5.6. Market Revenue and Forecast, by End User (2017-2030)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.5.7.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.5.7.3. Market Revenue and Forecast, by Services (2017-2030)
14.5.7.4. Market Revenue and Forecast, by Product (2017-2030)
14.5.8. Market Revenue and Forecast, by Connectivity (2017-2030)
14.5.8.1. Market Revenue and Forecast, by End User (2017-2030)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Medical Devices (2017-2030)
14.5.9.2. Market Revenue and Forecast, by Software and System (2017-2030)
14.5.9.3. Market Revenue and Forecast, by Services (2017-2030)
14.5.9.4. Market Revenue and Forecast, by Product (2017-2030)
14.5.9.5. Market Revenue and Forecast, by Connectivity (2017-2030)
14.5.9.6. Market Revenue and Forecast, by End User (2017-2030)
Chapter 15. Company Profiles
15.1. Medtronic (US)
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. Hillrom- Welch Allyn (US)
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Stanley Healthcare (US)
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Abbott Laboratories
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. AgaMtrix (US)
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. iHealth Lab, Inc
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. AliveCor,Inc
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Bio Telemetry, Inc
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Omron Healthcare, Inc (Japan)
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. Siemens AG (Germany)
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms