Global IoT Medical Devices Market Forecast to 2027
The latest market research report from Emergen Research focuses on the global IoT Medical Devices market and provides in-depth analysis of each of its major segments. Global IoT Medical Devices market reports provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolios. The report also highlights the most important factors influencing industry revenue growth, such as drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, stringent regulatory frameworks, and a slew of other micro- and macro-economic factors.
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.
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.
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Competitive Terrain:
The global IoT Medical Devices industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
GE Healthcare, Medtronic, Abbott Laboratories, Siemens, Johnson & Johnson, Boston Scientific, Philips Healthcare, Honeywell Life Care Solutions, Omron, Biotronik
Research Report on the IoT Medical Devices Market Addresses the Following Key Questions:
- Who are the dominant players of the IoT Medical Devices market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the IoT Medical Devices market?
- What are the key growth drivers and restraining factors of the IoT Medical Devices market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the IoT Medical Devices market and its key segments?
Market Overview:
The report bifurcates the IoT Medical Devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Vital Signs Monitoring Devices
- Blood Pressure Monitors
- Blood Glucose Monitors
- ECG/Heart Rate Monitors
- Oximeters
- Multiparameter Monitors
- Implantable Cardioverter Defibrillators
- Implantable Cardiac Monitors
- 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 Landscape section of the IoT Medical Devices report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- 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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Some Key Highlights from the 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.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the IoT Medical Devices market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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