What is IoT Enabled Healthcare Equipment?
The internet of things (IoT) is a network of physical devices that uses networking to enable data to flow between them. IoT is also used in the healthcare field for data collection, review, and tracking of electronic health records that contain personally identifiable information, confidential health information, and other machine-generated healthcare data. Furthermore, IoT technologies in healthcare help with critical tasks like improving patient quality and relieving some of the pressure from healthcare providers. Remote monitoring in the healthcare sector is now possible thanks to Internet of Things (IoT)-enabled devices, which have the ability to keep patients safe and secure while also inspiring physicians to provide superior treatment. The pandemic has changed providers' attitudes toward implementing IoT solutions, which have aided in the diagnosis of the virus using the internet of things. Furthermore, IoT technology is increasingly being used to assist authorities in preventing the spread of COVID-19 and treating those who have been contaminated. IoT, in particular and particularly when combined with other disruptive technologies such as Cloud and Artificial Intelligence, has the potential to change the world (AI). During the crisis, this resulted in a wide variety of IoT applications in healthcare.
The market study is broken down by Type (Wearable Medical Devices, Implantable Medical Devices, Stationary Medical Devices and Other), by Application (Patient Monitoring, Clinical Operation and Workflow Optimization, Clinical Imaging, Fitness and Wellness Measurement, Drug Development and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global IoT Enabled Healthcare Equipment market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GE Healthcare (United States), Microsoft (United States), Koninklijke Philips N.V. (Netherlands), Medtronic Plc (United States), Honeywell LifeCare Solutions (United States), BIOTRONIK (Germany), Boston Scientific Corporation (United States), Omron Healthcare, Inc. (Japan), BioTelemetry, Inc. (United States), AliveCor, Inc. (United States), Abbott Laboratories (United States) and Welch Allyn(United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are iHealth Lab, Inc. (United States) and AgaMatrix(United States).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global IoT Enabled Healthcare Equipment market by Type, Application and Region.
On the basis of geography, the market of IoT Enabled Healthcare Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User, the sub-segment i.e. Hospitals & Clinics will boost the IoT Enabled Healthcare Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Bluetooth will boost the IoT Enabled Healthcare Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In July 2020 - Microsoft Corporation introduced Azure loT connector for Fast Healthcare Interoperability Resources (FHIR). The connector supports maging all the data collected through medical loT devices.
Market Trend
- Availability of Smart Wearable Devices
Market Drivers
- Technological Advancements in Healthcare Industry
- Increasing Demand for Disease Management and Treatment
Opportunities
- Increased Investment by Healthcare Companies
- Government Initiatives for Promoting Digital Health
Restraints
- High Cost of Technology
- Insufficient IoT Technology Skills across Healthcare Organizations
Challenges
- Data Privacy and Security
- Issues related to Data Management and Interoperability
Key Target Audience
Manufacturers of IoT Medical Equipment, Suppliers of IoT Medical Equipment, Healthcare Industry, IoT infrastructure and Service Providers, Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.