Internet of Medical Things Market Worth US$ 284.5 billion- UnivDatos Industry Analysis- by Size, Share, Growth, Trends, and Forecast 2021-2027
Research report presented by UnivDatos, Emphasis on
Component [Medical Devices (Wearable External Medical Devices, Implanted
Medical Devices, Stationary Medical Devices), Systems and Software (Remote
Device Management, Network Bandwidth Management, Data Analytics, Application
Security, Network Security), Services (Deployment and Integration, Consulting,
Support and Maintenance), Connecting Technology], Applications (Telemedicine,
Clinical Operations and Workflow Management, Connected Imaging, Inpatient
Monitoring, Medication Management, Other Applications), End-User (Hospitals,
Surgical Centers, and Clinics, Clinical Research Organizations, Other
End-Users) and Geographical analysis (key regions and countries).
As per the research report, the global Internet of Medical Things Market was valued
at US$ 51.2 billion in 2019 and is projected to expand significantly with a
CAGR of 18.5% from 2021-2027. The Internet of Medical Things (IoMT)
is a collection of medical devices and applications that can communicate with
healthcare IT systems through networking. By linking patients to their doctors
and facilitating the sharing of medical data over a secure network, it eliminates
unnecessary hospital visits and the pressure on health care systems. The IoMT's
ability to help reduce the cost of treatment while improving its efficacy is
being fueled by advances in artificial intelligence (AI), especially the rise
of machine learning technologies. Health-care spending is increasing. The
market is projected to expand due to IoMT solutions, an increase in the number
of connected medical devices, and increased mobile use.
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The growth of the
IoMT community is also paving the way for other new technologies, such as
kiosks that offer access to healthcare providers. An evolution of the IoMT
environment will become increasingly impactful regardless of a patient's
position or diagnosis. As connected medical technologies continue to make their
way into the hands of both patients and physicians, even the most isolated
areas are predicted to benefit from improved access to treatment. Mobile
computing, wireless networking, sensor networks, and embedded technologies have
all exploded in popularity as a result of health information systems, ushering
in the era of ubiquitous computing. This has resulted in a steady increase in
the number of technologies and devices (e.g., wearable devices) for delivering
new pervasive health services, which are increasingly gaining traction around
the world. According to the Research survey “2017 Trends in the Internet of
Things”:
·
67% of responding IT professionals revealed that their companies had
either already deployed an IoT solution, or had an IoT system in trial
·
21% of respondents stated that their companies intended to deploy IoT
solutions within a year, with 11% claiming their companies’ plans for
implementing IoT were over a year away
For a detailed analysis of the applications in the Internet
of Medical Things Market browse through – https://univdatos.com/report/global-internet-of-medical-things-market-current-analysis-and-forecast-2020-2027
Insights Presented in the Report
“Amongst component type, the medical devices segment holds the major
share”
The
market is divided into medical equipment, systems and applications, utilities,
and networking technologies based on component form. Medical devices led the
industry in 2019, with a share of 36.6 percent, and are projected to continue
to do so over the forecast period, owing to growing tremendous exposure due to
their capacities, particularly devices that support patients with chronic
illnesses, and rising demand in medical technology companies for the
development of medical devices.
“Amongst application, telemedicine is expected to dominate the market
during the analyzed period”
Telemedicine,
hospital procedures, and process control, connected imaging, inpatient
tracking, drug management, and other (fall detection, sportsmen care, and
public safety) applications dominate the market. Telemedicine has the
highest industry sales share of 31.2 percent in 2019 and is predicted to
maintain its dominance over the forecast period, owing to advances in telecommunications,
increased consumer recognition, a lack of medical professionals, and the
growing need to improve healthcare access. Inpatient Monitoring, on the other
hand, is expected to rise at the fastest rate during the projected period.
“Amongst end-user, Hospitals, Surgical Centers, and Clinics are expected
to dominate the market during the analyzed period”
The
market is segmented by end-user into hospitals, surgical centres, and clinics,
as well as health research organisations and others (institutes, R&D labs,
government organizations). Due to the growing use of IoT and digital technologies in hospitals,
which provides increased functional and organisational performance, hospitals,
surgical centres, and clinics accounted for the largest market share of 74.9
percent in 2019 and are projected to be the leading segment of the Internet of
Medical Things market during the forecast period.
“North America represents one of the largest markets of Internet of
Medical Things market”
A
systematic research was performed for various regions around the globe,
including North America (the United States, Canada, and the Rest of North
America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of
Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC),
the Middle East and Africa, and South America, to get a greater understanding
of the business conditions of the Internet of Medical Things market. Because of the growing
acceptance of healthcare IT solutions, the participation of key actors,
regulatory reforms, and accessibility of advanced healthcare IT technology,
North America led the market in 2019 and delivered revenue of US$ 16.6 billion.
During the forecast period, Asia-Pacific is projected to have the highest CAGR.
Customization Options:
The Internet of Medical Things Market can further
be customized as per the requirement or any other market segment. Besides this,
UMI understands that you may have your own business needs, hence feel free to
connect with us to get a report that completely suits your requirements.
Table of Contents
1 Market
Introduction
2 Research
Methodology or Assumption
3 Industry
Performance
4 Executive
Summary
5 Market
Overview
6 Legal &
Regulatory Framework
7 Demand and
Supply Side Analysis
8 Value Chain
Analysis
9 Internet of Medical Things
(IoMT) Market Insights by Component
10 Market
Insights by Application
11 Market
Insights by End-User
12 Market
Insights by Region
13 Competitive
Scenario - Boston Scientific Corporation,
Cisco Systems, GE Healthcare, IBM Corporation, iRhythm Technologies,
Koninklijke Philips N.V., Medtronic, Microsoft Corporation
14 Top Company
Profiles
Labels: Internet of Medical Things Market, Internet of Medical Things Market share, Internet of Medical Things Market size
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