IoT Medical Devices Market Size & Share Report 2022 : Reach at US$ 973.3 Billion and Grow at Healthy CAGR 20.8% During Forecasts Period 2022-2028

Pune, Maharashtra -- (SBWire) -- 10/11/2022 --IoT Medical Devices Market Overview:

An Internet of Things (IoT) medical device is a network of intelligent electronic devices that are linked to one another and transmit data automatically. With the use of this technology, medical professionals can remotely check on patients and access real-time patient data. IoT is a class of integrated computing devices that can send data over a network without requiring human or computer involvement and employs unique identifiers (UIDs). IoT medical devices communicate some of the most private and sensitive patient data. They are also employed in remote health monitoring and emergency information systems.

As per the recent report by SNS Insider, the IoT medical devices market is expected to cross USD 973.3 billion by 2028, with a CAGR of 20.8% over the forecast period of 2022–2028.

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Drivers, Restraints, Opportunities, and Challenges

The internet of things, sometimes known as "smart healthcare," is acknowledged as being advantageous in the healthcare industry for integrating medical devices and implementing better medical treatment with the use of technology, under the guidance of both human skills and artificial intelligence. The increasingly scattered nature of health and healthcare necessitates the adoption of medical IoT devices since in many instances patients and their doctors no longer require a physical location to view crucial health data, such as an introduction to healthcare. All of these elements are accelerating the IoT medical devices market as a whole.
The need for IoT medical devices is being impacted by technological development, an increase in the elderly population, the prevalence of persistent diseases, and other factors. Additionally, the shorter average length of stay has increased the demand for IoT medical devices. To address market concerns, market participants are starting new and creative software applications. The demand for IoT medical devices will be fueled by an increase in hospital spending on the adoption of cutting-edge technology in both developing and developed nations.

Impact of the COVID-19 Pandemic

The COVID-19 pandemic has had a significant impact on the IoT medical devices market. Numerous people are visiting medical offices frequently as a result of the current COVID-19 outbreak. Market players have been concentrating on the creation of cutting-edge gadgets to efficiently manage patients' health during such a health crisis.

Market Segmentation

According to Product, the segment for stationary medical devices is anticipated to experience exponential growth in the IoT medical devices market during the projection period. These tools aid in diagnosing cardiac patients' conditions and keeping an eye on the situation in an emergency. It monitors the patient's heart rate in cases of chronic cardiovascular illness.

According to the application, it is predicted that the hospital segment will see the largest CAGR during the projection period. Hospitals are under more and more pressure as the prevalence of chronic diseases including diabetes, cancer, cardiovascular disease, and arthritis rises. In addition, there is a pressing need to improve patient outcomes and manage the expanding patient data.

Major Segments and Sub-Segment of Intermediate Bulk Container Market are Listed Below:

By Product Type

- Vital Signs Monitoring Devices
- Imaging Systems
- Respiratory Devices
- Implantable Cardiac Devices
- Patient Monitors
- Infusion Pump
- Fetal Monitoring Devices
- Neurological Devices
- Ventilators
- Anesthesia Machines
- Hearing Devices
- Other Products

By Type
- Stationary medical devices
- Implantable medical devices
- Wearable medical devices
- Other medical devices

By Connectivity technology
- Bluetooth
- Wi-fi
- Zigbee
- Others

By End User
- Hospitals & Clinics
- Nursing Homes, Assisted Living Facilities, Long-term Care Centers, & Home Care Settings
- Other End Users

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Regional Analysis

In the market for IoT medical devices, North America is a significant source of revenue. The market demand for it has increased, particularly in distant care, as a result of technological improvement and its implementation into medical devices. Hospital patient care is now of higher quality because of IoT in medical devices. Due to the region's developing health IT infrastructure, growing measures to promote linked health services, and progressively expanding adoption of cutting-edge technologies like smart wearable, Asia-Pacific is the region with the highest expectations for growth in the IoT medical devices market.

Competitive Landscape Outlook

Some of the prominent companies present in the IoT medical devices market are Honeywell Life Care Solutions, Omron Healthcare, Inc., Medtronic, Johnson & Johnson Services, Inc., GE Healthcare, Abbott Laboratories, Koninklijke Philips N.V., and Siemens AG.

Key Questions answered in IoT medical devices are:

- Which are the top industry players in the global IoT medical devices market?
- Which IoT medical devices products have been included in this report?
- Which IoT medical devices type have been included in this report?
- Which IoT medical devices connectivity technologies have been included in this report?
- Which geographical region is dominating the IoT medical devices market?

Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter's 5 Forces Model

7. PEST Analysis

8. IoT Medical Devices Market Segmentation, By Product Type

9. IoT Medical Devices Market Segmentation, By Type

10. IoT Medical Devices Market Segmentation, By Connectivity Technology

11. IoT Medical Devices Market Segmentation, By End-User

12. Regional Analysis

13 Company Profiles

14 Competitive Landscape

15 Conclusion

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