IoT in Healthcare Market to Reach US$ 135.9 Billion | The Insight Partners
The IoT in healthcare market was valued at US$ 20.15 billion in 2015 and it is projected to reach US$ 135.87 billion in 2025; it is expected to grow at a CAGR of 21.2% from 2016 to 2025.
The IoT in Healthcare helps in delivery of healthcare facilities through improved communication, between patients and healthcare providers, via connected medical devices. IoT in Healthcare enable the stakeholders particularly, providers and patients, to enhance patient care, reduce costs related to healthcare, reduction in errors, improved patient experience, and improved patient outcomes along with better disease management. The growth of the IoT in healthcare market is attributed to the increased adoption of smart devices and wearables, need for workforce optimization, and decreasing cost of sensors. However, high cost associated with smart devices and IoT infrastructure, security and privacy concerns and varying standards and lack of interoperability are the major factor hindering the market growth.
The IoT in healthcare market is expected to witness substantial growth post-pandemic. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth in many areas. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. Factors such as use of robots and IoT devices like smart bracelet that is worn by patients to check patients' temperatures, monitor their heart rates and sugar levels will eventually drive the market growth in forecast period.
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IoT in Healthcare Market: Strategic Insights
Market Size Value in US$ 20.15 Billion in 2015 Market Size Value by US$ 135.87 Billion by 2025 Growth rate CAGR of 21.2% from 2016-2025 Forecast Period 2016-2025 Base Year 2016
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IoT in Healthcare Market: Strategic Insights
| Market Size Value in | US$ 20.15 Billion in 2015 |
| Market Size Value by | US$ 135.87 Billion by 2025 |
| Growth rate | CAGR of 21.2% from 2016-2025 |
| Forecast Period | 2016-2025 |
| Base Year | 2016 |
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Market Insights
Increased Adoption of Smart Devices and Wearables to Drive IoT in Healthcare Market Growth
The smart devices include smart phones, tablets, and phablets; and wearables such as smart bands, smart shoes, smart clothes, smart watches, sleep headphones and others help in collecting, transferring and analyzing information of data between device and a remote sensor. With the increase in adoption of smart devices and wearables, the demand for healthcare applications has also increased thus, driving the demand for IoT in healthcare market. Many wearable devices are getting immense attention due to their capabilities including devices benefitting patients from chronic illness. Also, some devices have push buttons which can immediately send alerts for emergency medical help. Furthermore, fitness bands are one more addition to the devices in healthcare and IoT. These connected devices record the essential data of the wearer throughout the day and transfer this data wirelessly to users’ devices such as tablets, smartphones, and computers. These devices are considered as a great tool in reducing medical expenses and thus, are increasingly adopted by the people. Moreover, the smartphones with mobile applications for storing health information with inbuilt sensors are another great attraction driving the market for IoT in healthcare. These apps can be connected to the wearable devices of the patients’ to record the data. The applications such as blood pressure monitoring, heart rate etc. using these devices are helping people using smart devices to reduce their medical expenses.
Solution-Based Insights
In terms of solution, the IoT in healthcare market is segmented into medical systems & devices and software solutions & tools. In 2015, the medical systems & devices held larger share of the market. Also, the same segment is estimated to continue its dominance during the forecast period.
Service-Based Insights
In terms of services, the IoT in healthcare market is segmented into professional services and integration services. In 2015, the integration services segment held larger share of the market. Whereas, the professional services segment is expected to dominate the market during the forecast period.
Application-Based Insights
Based on application, the IoT in healthcare market is segmented into medication management, patient monitoring, fitness & wellness measurement, clinical workflow management and others. The patient monitoring segment held the largest market share in 2015, also the same segment is estimated to dominate the market during the forecast period.
End User-Based Insights
In terms of end user, the IoT in healthcare market is segmented into patients & individuals, diagnostic & research centers and labs, hospitals and healthcare solution providers, and government authority. The hospital & healthcare solution providers segment held the largest share of the market in 2015. However, the patients & individuals segment is estimated to dominate the market during the forecast period.
The IoT in healthcare market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
IoT in Healthcare Market Report Scope
Global IoT in Healthcare Market – by Solution
- Medical Systems & Devices
- On-Body Wellness
- On-Body Healthcare
- Implanted
- Software Solutions & Tools
- Data Analytics Tools & Solutions
- Network Management Solutions
- Security Solutions
Global IoT in Healthcare Market – by Services
- Professional Services
- Integration Services
Global IoT in Healthcare Market – by Application
- Medication Management
- Patient Monitoring
- Fitness & Wellness Measurement
- Clinical Workflow Management
- Others
Global IoT in Healthcare Market – by End- User
- Patients & Individuals
- Diagnostic & Research Centers and Labs
- Hospital and Healthcare Institutes
- Government Authority
Global IoT in Healthcare Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- GE Healthcare
- IBM Corporation
- Koninklijke Philips N.V.
- Medtronic Public Limited Company
- Microsoft Corporation
- Proteus Digital Health, Inc.
- Qualcomm Life, Inc.
- Siemens Healthcare Gmbh
- Stanley Healthcare
- Verily Life Sciences LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Solution , Services Application and End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 IoT in Healthcare Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Global IoT in Healthcare Market - By Solution
3.2.2 Global IoT in Healthcare Market - By Services
3.2.3 Global IoT in Healthcare Market - By Application
3.2.4 Global IoT in Healthcare Market - By End-user
3.2.5 Global IoT in Healthcare Market - By Region
3.2.5.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 IoT in Healthcare Market - Key Industry Dynamics
4.1 Impact Analysis
4.2 Key Market Drivers
4.3 Key Market Restraints
4.4 Key Market Opportunities
4.5 Future Trends
5 IoT in Healthcare Market Analysis- Global
5.1 Global IoT in Healthcare Market Overview
5.2 Global IoT in Healthcare Market Forecast and Analysis
6 Global IoT in Healthcare Market Revenue and Forecasts to 2025 -Solution
6.1 Overview
6.2 Solution Market Forecast and Analysis
6.3 Medical Systems & Devices Market
6.3.1 Overview
6.3.2 Medical Systems & Devices Market Forecast and Analysis
6.3.2.1 On Body Wellness
6.3.2.1.1 Overview
6.3.2.1.2 On Body Wellness Market Forecast and Analysis
6.3.2.2 On Body Healthcare
6.3.2.2.1 Overview
6.3.2.2.2 On Body Healthcare Market Forecast and Analysis
6.3.2.3 Implanted
6.3.2.3.1 Overview
6.3.2.3.2 Implanted Market Forecast and Analysis
6.4 Software Solutions & Tools Market
6.4.1 Overview
6.4.2 Software Solutions and Tools Market Forecast and Analysis
6.4.2.1 Data Analytics Tools & Solutions
6.4.2.1.1 Overview
6.4.2.1.2 Data Analytics Tools & Solutions Market Forecast and Analysis
6.4.2.2 Network Management Solutions
6.4.2.2.1 Overview
6.4.2.2.2 Network Management Solutions Market Forecast and Analysis
6.4.2.3 Security Solutions
6.4.2.3.1 Overview
6.4.2.3.2 Security Solutions Market Forecast and Analysis
7 Global IoT in Healthcare Market Revenue and Forecasts to 2025 - Services
7.1 Overview
7.2 Services Market Forecast and Analysis
7.3 Integration Services Market
7.3.1 Overview
7.3.2 Integration Services Market Forecast and Analysis
7.4 Professional Services Market
7.4.1 Overview
7.4.2 Professional Services Market Forecast and Analysis
8 Global IoT in Healthcare Market Revenue and Forecasts to 2025 - Application
8.1 Overview
8.2 Application Market Forecast and Analysis
8.3 Medication Management Market
8.3.1 Overview
8.3.2 Medication Management Market Forecast and Analysis
8.4 Patient Monitoring Market
8.4.1 Overview
8.4.2 Patient Monitoring Market Forecast and Analysis
8.5 Clinical Workflow Management Market
8.5.1 Overview
8.5.2 Clinical Workflow Management Measurement Market Forecast and Analysis
8.6 Fitness & Wellness Measurement Market
8.6.1 Overview
8.6.2 Fitness & Wellness Measurement Market Forecast and Analysis
8.7 Others Market
8.7.1 Overview
8.7.2 Others Market Forecast and Analysis
9 Global IoT in Healthcare Market Revenue and Forecasts to 2025 - End-User
9.1 Overview
9.2 End-user Market Forecast and Analysis
9.3 Patients & Individuals Market
9.3.1 Overview
9.3.2 Patients & Individuals Market Forecast and Analysis
9.4 Diagnostic & Research Centers and Labs Market
9.4.1 Overview
9.4.2 Diagnostic & Research Centers and Labs Market Forecast and Analysis
9.5 Government Authority Market
9.5.1 Overview
9.5.2 Government Authority Market Forecast and Analysis
9.6 Hospital & Healthcare Institutes Market
9.6.1 Overview
9.6.2 Hospitals & Healthcare Institutes Market Forecast and Analysis
10 Global IoT in Healthcare Market Revenue and Forecasts to 2025 - Geographical Analysis
10.1 North America
10.1.1 North America IoT in Healthcare Market Overview
10.1.2 North America IoT in Healthcare Market Forecast and Analysis
10.1.2.1 North America Market Forecast and Analysis- By Countries
10.1.2.1.1 US Market
10.1.2.1.2 Canada Market
10.1.2.1.3 Mexico Market
10.1.2.2 North America Market Forecast and Analysis- By Solution
10.1.2.3 North America Market Forecast and Analysis- By Services
10.1.2.4 North America Market Forecast and Analysis- By Application
10.1.2.5 North America Market Forecast and Analysis- By End-user
10.2 Europe
10.2.1 Europe IoT in Healthcare Market Overview
10.2.2 Europe IoT in Healthcare Market Forecast and Analysis
10.2.2.1 Europe Market Forecast and Analysis- By Countries
10.2.2.1.1 France Market
10.2.2.1.2 Germany Market
10.2.2.1.3 Italy Market
10.2.2.1.4 Spain Market
10.2.2.1.5 UK Market
10.2.2.2 Europe Market Forecast and Analysis- By Solution
10.2.2.3 Europe Market Forecast and Analysis- By Services
10.2.2.4 Europe Market Forecast and Analysis- By Application
10.2.2.5 Europe Market Forecast and Analysis- By End-user
10.3 Asia pacific (APAC)
10.3.1 Asia Pacific IoT in Healthcare Market Overview
10.3.2 Asia Pacific IoT in Healthcare Market Forecast And Analysis
10.3.2.1 Asia Pacific Market Forecast and Analysis- By Countries
10.3.2.1.1 Australia Market
10.3.2.1.2 China Market
10.3.2.1.3 India Market
10.3.2.1.4 Japan Market
10.3.2.2 Asia Pacific Market Forecast and Analysis- By Solution
10.3.2.3 Asia Pacific Market Forecast and Analysis- By Services
10.3.2.4 Asia Pacific Market Forecast and Analysis- By Application
10.3.2.5 Asia Pacific Market Forecast and Analysis- By End-user
10.4 Middle East and Africa (MEA)
10.4.1 Middle East and Africa IoT in Healthcare Market Overview
10.4.2 Middle East and Africa IoT in Healthcare Market Forecast and Analysis
10.4.2.1 Middle East and Africa Market Forecast and Analysis- By Countries
10.4.2.1.1 South Africa Market
10.4.2.1.2 Saudi Arabia Market
10.4.2.1.3 UAE Market
10.4.2.2 Middle East and Africa Market Forecast and Analysis- Solution
10.4.2.3 Middle East and Africa Market Forecast and Analysis- Services
10.4.2.4 Middle East and Africa Market Forecast and Analysis- By Application
10.4.2.5 Middle East and Africa Market Forecast and Analysis- End-user
10.5 South America (SAM)
10.5.1 South America IoT in Healthcare Market Overview
10.5.2 South America IoT in Healthcare Market Forecast and Analysis
10.5.2.1 South America Market Forecast and Analysis- By Countries
10.5.2.1.1 Brazil Market
10.5.2.2 South America Market Forecast and Analysis- By Solution
10.5.2.3 South America Market Forecast and Analysis- By Services
10.5.2.4 South America Market Forecast and Analysis- By Application
10.5.2.5 South America Market Forecast and Analysis- By End-user
11 Industry Landscape
11.1 Mergers & acquisitions
11.2 Market Initiatives
11.3 New developments
11.4 Investment scenarios
12 Competitive Landscape
12.1 Competitive Product mapping
12.2 Market positioning/ Market share
13 Global IoT in Healthcare Market, Key Company Profiles
13.1 Koninklijke Philips N.V.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Medtronic Plc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Siemen Healthcare GmbH
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Proteus Digital Health, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 IBM Watson Health
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 General Electric Healthcare
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Microsoft Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Qualcomm Life, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 STANLEY Healthcare
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Verily Life Sciences LLC (Alphabet-Google)
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14 Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
14.3 Research Methodology
List of Tables
Table 1: Global IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 46
Table 2: North America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Solution (US$ Bn) 89
Table 3: North America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Medical Systems & Devices Solution (US$ Bn) 91
Table 4: North America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Software Solutions & Tools SolutionUS$ Bn) 93
Table 5: North America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Services (US$ Bn) 94
Table 6: North America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Application (US$ Bn) 95
Table 7: North America IoT in Healthcare Market Revenue and Forecasts to 2025 - By End-user (US$ Bn) 97
Table 8: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 - By Solution (US$ Bn) 106
Table 9: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 - By Medical Systems & Devices Solution (US$ Bn) 108
Table 10: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 - By Software Solutions & Tools Solution (US$ Bn) 110
Table 11: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 - By Services (US$ Bn) 111
Table 12: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 - By Application (US$ Bn) 113
Table 13: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 - By End-user (US$ Bn) 115
Table 14: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 - By Solution (US$ Bn) 124
Table 15: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 - By Medical Systems & Devices Solution (US$ Bn) 125
Table 16: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 - By Software Solutions & Tools Solution (US$ Bn) 126
Table 17: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 - By Services (US$ Bn) 129
Table 18: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 - By Application (US$ Bn) 131
Table 19: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 - By End-user (US$ Bn) 133
Table 20: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 - By Solution (US$ Bn) 141
Table 21: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 - By Medical Systems & Devices Solution (US$ Bn) 142
Table 22: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 - By Software Solutions & Tools Solution (US$ Bn) 144
Table 23: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 - By Services (US$ Bn) 146
Table 24: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 - By Application (US$ Bn) 148
Table 25: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 - By End-user (US$ Bn) 150
Table 26: South America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Solution (US$ Bn) 156
Table 27: South America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Medical Systems & Devices Solution (US$ Bn) 158
Table 28: South America IoT in Healthcare Market Revenue and Forecasts to 2025 - Software Solutions & Tools Solution (US$ Bn) 160
Table 29: South America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Services (US$ Bn) 162
Table 30: South America IoT in Healthcare Market Revenue and Forecasts to 2025 - By Application (US$ Bn) 164
Table 31: South America IoT in Healthcare Market Revenue and Forecasts to 2025 - By End-user (US$ Bn) 166
Table 32: Glossary of Terms, IoT in Healthcare Market 225
List of Figures
Figure 1: China IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 22
Figure 2: Global Medical Systems & Devices Market Revenue and Forecasts to 2025 (US$ Bn) 23
Figure 3: IoT in Healthcare Market Segmentation 25
Figure 4: IoT in Healthcare Market Segmentation 26
Figure 5: North America PEST Analysis 30
Figure 6: Europe PEST Analysis 32
Figure 7: APAC PEST Analysis 34
Figure 8: MEA PEST Analysis 36
Figure 9: SAM PEST Analysis 38
Figure 10: IoT in Healthcare Market Impact Analysis of Driver and Restraints 44
Figure 11: Global IoT in Healthcare Market Breakdown By Solution, 2015 & 2025 (%) 47
Figure 12: Global IoT in Healthcare Market Breakdown By Medical Systems & Devices, 2015 & 2025 (%) 48
Figure 13: Global Medical Systems & Devices Solution Market Revenue and Forecasts to 2025 (US$ Bn) 49
Figure 14: Global On-body Wellness Market Revenue and Forecasts to 2025 (US$ Bn) 51
Figure 15: Global On-body Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 53
Figure 16: Global Implanted Market Revenue and Forecasts to 2025 (US$ Bn) 54
Figure 17: Global IoT in Healthcare Market Breakdown By Software Solutions & Tools, 2015 & 2025 (%) 55
Figure 18: Global Software Solutions & Tools Market Revenue and Forecasts to 2025 (US$ Bn) 56
Figure 19: Global Data Analytics Tools & Solutions Market Revenue and Forecasts to 2025 (US$ Bn) 57
Figure 20: Global Network Management Solutions Market Revenue and Forecasts to 2025 (US$ Bn) 58
Figure 21: Global Security Solutions Market Revenue and Forecasts to 2025 (US$ Bn) 59
Figure 22: Global IoT in Healthcare Market Breakdown By Services, 2015 & 2025 (%) 60
Figure 23: Global Professional Services Market Revenue and Forecasts to 2025 (US$ Bn) 61
Figure 24: Global Integration Services Market Revenue and Forecasts to 2025 (US$ Bn) 62
Figure 25: Global IoT in Healthcare Market Breakdown By Application, 2015 & 2025 (%) 63
Figure 26: Global Medication Management Market Revenue and Forecasts to 2025 (US$ Bn) 65
Figure 27: Global Patient Monitoring Market Revenue and Forecasts to 2025 (US$ Bn) 67
Figure 28: Global Fitness & Wellness Measurement Market Revenue and Forecasts to 2025 (US$ Bn) 69
Figure 29: Global Clinical Workflow Management Market Revenue and Forecasts to 2025 (US$ Bn) 71
Figure 30: Global Others Market Revenue and Forecasts to 2025 (US$ Bn) 73
Figure 31: Global IoT in Healthcare Market Breakdown By End-user, 2015 & 2025 (%) 74
Figure 32: Global Patients and Individuals Market Revenue and Forecasts to 2025 (US$ Bn) 76
Figure 33: Global Diagnostic & Research Centers and Labs Market Revenue and Forecasts to 2025 (US$ Bn) 78
Figure 34: Global Hospitals & Healthcare Institutes Market Revenue and Forecasts to 2025 (US$ Bn) 80
Figure 35: Global Government Authority Market Revenue and Forecasts to 2025 (US$ Bn) 82
Figure 36: IoT in Healthcare Market, Global Breakdown by Regions, 2015 (%) 83
Figure 37: North America IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 85
Figure 38: North America IoT in Healthcare Market Breakdown by Key Countries, 2015 & 2025 (%) 85
Figure 39: U.S. IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 86
Figure 40: Canada IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 87
Figure 41: Mexico IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 88
Figure 42: North America IoT in Healthcare Market Breakdown by Solution, 2015 & 2025 (%) 89
Figure 43: North America IoT in Healthcare Market Breakdown by Medical System & Devices Solution, 2015 & 2025 (%) 90
Figure 44: North America IoT in Healthcare Market Breakdown by Software Solutions & Tools Solution, 2015 & 2025 (%) 92
Figure 45: North America IoT in Healthcare Market Breakdown By Services, 2015 & 2025(%) 94
Figure 46: North America IoT in Healthcare Market Breakdown By Application, 2015 & 2025 (%) 95
Figure 47: North America IoT in Healthcare Market Breakdown by End-user, 2015 & 2025 (%) 96
Figure 48: Europe IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 99
Figure 49: Europe IoT in Healthcare Market Breakdown by Key Countries, 2015 & 2025 (%) 100
Figure 50: France IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 101
Figure 51: Germany IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 102
Figure 52: Italy IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 103
Figure 53: Spain IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 104
Figure 54: UK IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 105
Figure 55: Europe IoT in Healthcare Market Breakdown by Solution, 2015 & 2025 (%) 106
Figure 56: Europe IoT in Healthcare Market Breakdown by Medical System & Devices Solution, 2015 & 2025 (%) 107
Figure 57: Europe IoT in Healthcare Market Breakdown by Software Solutions & Tools Solution, 2015 & 2025 (%) 109
Figure 58: Europe IoT in Healthcare Market Breakdown By Services, 2015 & 2025(%) 111
Figure 59: Europe IoT in Healthcare Market Breakdown By Application, 2015 & 2025 (%) 112
Figure 60: Europe IoT in Healthcare Market Breakdown by End-user, 2015 & 2025 (%) 114
Figure 61: Asia Pacific IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 117
Figure 62: Asia Pacific IoT in Healthcare Market Breakdown by Key Countries, 2015 & 2025 (%) 118
Figure 63: Japan IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 119
Figure 64: China IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 120
Figure 65: India IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 121
Figure 66: Australia IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 122
Figure 67: Asia Pacific IoT in Healthcare Market Breakdown by Solution, 2015 & 2025 (%) 123
Figure 68: Asia Pacific IoT in Healthcare Market Breakdown by Medical Systems & Devices Solution, 2015 & 2025 (%) 124
Figure 69: Asia Pacific IoT in Healthcare Market Breakdown by Software Solutions & Tools Solution, 2015 & 2025 (%) 126
Figure 70: Asia Pacific IoT in Healthcare Market Breakdown By Services, 2015 & 2025(%) 128
Figure 71: Asia Pacific IoT in Healthcare Market Breakdown By Application, 2015 & 2025 (%) 130
Figure 72: Asia Pacific IoT in Healthcare Market Breakdown by End-user, 2015 & 2025 (%) 132
Figure 73: Middle East & Africa IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 135
Figure 74: Middle East & Africa IoT in Healthcare Market Breakdown by Key Countries, 2015 (%) 136
Figure 75: Saudi Arabia IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 137
Figure 76: UAE IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 138
Figure 77: South Africa IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 139
Figure 78: Middle East & Africa IoT in Healthcare Market Breakdown by Solution, 2015 & 2025 (%) 140
Figure 79: Middle East & Africa IoT in Healthcare Market Breakdown by Medical Systems & Devices Solution, 2015 & 2025 (%) 142
Figure 80: Middle East & Africa IoT in Healthcare Market Breakdown by Software Solutions & Tools Solution, 2015 & 2025 (%) 143
Figure 81: Middle East & Africa IoT in Healthcare Market Breakdown By Services, 2015 & 2025(%) 145
Figure 82: Middle East & Africa IoT in Healthcare Market Breakdown By Application, 2015 & 2025 (%) 147
Figure 83: Middle East & Africa IoT in Healthcare Market Breakdown by End-user, 2015 & 2025 (%) 149
Figure 84: South America IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 152
Figure 85: South America IoT in Healthcare Market Breakdown by Key Countries, 2015 & 2025 (%) 153
Figure 86: Brazil IoT in Healthcare Market Revenue and Forecasts to 2025 (US$ Bn) 154
Figure 87: South America IoT in Healthcare Market Breakdown by Solution, 2015 & 2025 (%) 155
Figure 88: South America IoT in Healthcare Market Breakdown by Medical Systems & Devices Solution, 2015 & 2025 (%) 157
Figure 89: South America IoT in Healthcare Market Breakdown by Software Solutions & Tools Solution, 2015 & 2025 (%) 159
Figure 90: South America IoT in Healthcare Market Breakdown By Services, 2015 & 2025(%) 161
Figure 91: South America IoT in Healthcare Market Breakdown By Application, 2015 & 2025 (%) 163
Figure 92: South America IoT in Healthcare Market Breakdown by End-user, 2015 & 2025 (%) 165
Figure 93: IoT in Healthcare Market Competitive Product Mapping 171
Figure 94: IoT in Healthcare Market, Top 5 Companies 172
The List of Companies
- Koninklijke Philips N.V.
- Medtronic Plc
- Siemen Healthcare GmbH
- Proteus Digital Health, Inc.
- IBM Watson Health
- General Electric Healthcare
- Microsoft Corporation
- Qualcomm Life, Inc.
- STANLEY Healthcare
- Verily Life Sciences LLC (Alphabet-Google)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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