The IoT Medical Devices Market report offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2020-2027. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
The global IoT Medical Devices Market is forecasted to be worth USD 161.73 Billion by 2027, according to a current analysis by Emergen Research. The market is expected to witness substantial growth due to the initiatives taken by the government to promote digital health. IoT services are used remote health monitoring and emergency notification system.
Technological advancement and rise in the geriatric population, along with the growth in the persistent disease, are impacting the demand for the IoT medical devices market. Moreover, the reduction in the duration of room stay has further fuelled the demand for the IoT medical devices market. Market players are initiating novel and innovative software programs to address market issues.
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The proliferation of IoT in medical devices has enhanced functional efficiency, allowing improved disease management and treatment outcomes. A surge in investment by the hospitals for the adoption of advanced technology in both developing and developed regions will fuel IoT Medical Devices market demand. The increasing focus on active patient-centric care and patient engagement, the surging need for the adoption of cost-control measures, and the growth of high-speed network technologies for IoT connectivity in the healthcare sector.
Market Dynamics:
The report offers insightful information about the market dynamics of the IoT Medical Devices market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the IoT Medical Devices market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the IoT Medical Devices market.
Radical Highlights of the IoT Medical Devices Market Report:
- The high-tech pacemakers have several benefits, especially among those patients who intensive control and constant check of their health. These machines are not always active, but the connections are used to configure and set the parameters of the devices to monitor their activity remotely.
- The wearable medical technologies growth is being propelled due to a rise in the demand of consumers to monitor their own health. These technologies enable the continuous monitor of human physical activities and their blood pressure, heart rate, and body temperature, as well as blood oxygen saturation.
- NFC or near field communications ensure better communications among the healthcare staff and enable them to remain updated with real-time updates. It also allows users to communicate by touching or bringing their devices close to each other. It helps caretakers in tracking their patient’s activities.
- North America is a major revenue-generating region in the IoT medical devices market. The advancement in technology and its incorporation in medical devices has fuelled its market demand, especially in remote care. IoT in medical devices has improved the quality of care in hospitals.
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Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
GE Healthcare, Medtronic, Abbott Laboratories, Siemens, Johnson Johnson, Boston Scientific, Philips Healthcare, Honeywell Life Care Solutions, Omron, Biotronik
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IoT Medical Devices Market Segmentation:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Vital Signs Monitoring Devices
- Blood Pressure Monitors
- Blood Glucose Monitors
- ECG/Heart Rate Monitors
- Oximeters
- Multiparameter Monitors
- Respiratory Devices
- Fetal Monitoring Devices
- Neurological Devices
- Implantable Cardiac Devices
- Implantable Cardioverter Defibrillators
- Implantable Cardiac Monitors
- Pacemakers
- Hearing Devices
- Anesthesia Machines
- Patient Monitors
- Ventilators
- Imaging Systems
- Infusion Pumps
- Other Products
- Vital Signs Monitoring Devices
Type Outlook (Revenue, USD Billion; 2017-2027)
- Wearable Medical Devices
- Implantable Medical Devices
- Stationary Medical Devices
- Other IoT Medical Devices
Connectivity Technology Outlook (Revenue, USD Billion; 2017-2027)
- Bluetooth
- Wi-Fi
- ZigBee
- Near Field Communication (NFC)
- Other Connectivity Technologies
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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