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IoT Medical Devices Market Growth – CAGR of 25.6% | Industry Trends –Advancements in technology.      

IoT Medical Devices Market Growth

Increased penetration of high-speed internet technologies across the globe along with mobile devices are propelling the growth of the IoT medical devices market.

The global IoT medical devices market is expected to be valued at USD 161.73 Billion by 2027, analyzed by recent studies by Emergen Research. This growth of the market is attributable to the increase in the number of initiatives by governments to promote digital health. The services are increasingly adopted for monitoring the health of patients remotely, in case of emergencies.

The proliferation of IoT in medical devices and overall healthcare has enhanced functional efficiency coupled with improved disease management. Robust investment in the hospitals for the adoption of advanced technologies for improving the overall healthcare industry globally, especially in developing countries, is fueling the growth of the global IoT medical devices market. In addition, the rising patient-centric approach adopted globally coupled with the surging need for adoption of cost-control is boosting the growth of the global IoT medical devices market.

Technological advancements along with the rising geriatric population are creating demand for improved medical devices for reducing treatment time, which is driving the growth of the market. Additionally, the players are increasingly investing in the development of novel software programs and devices, which is estimated to offer growth opportunities in the future for the IoT medical devices market.

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Key Highlights from the Report

  • The high-tech pacemakers sub-segment is estimated to hold a substantial share in the revenue of the IoT medical devices market owing to several benefits of pacemakers, especially for patients who need intensive control and constant monitoring of health.
  • The wearable medical technologies sub-segment is estimated to see robust growth during the forecast period owing to a rise in the demand of consumers for monitoring their own health. With the help of these technologies, patients can monitor their physical activities and body functioning, such as heart rate, blood pressure, blood oxygen saturation, and body temperature.
  • Based on connectivity technology, the NFC or near field communications sub-segment is estimated to dominate the global market for IoT medical devices over the forecast period. This growth is ensured due to better communication among the healthcare staff for updating real-time updates of the patient’s health.
  • Regionally, the North American region is estimated to retain its dominance over the forecast period. This growth is attributable to the advent of newer technologies and their incorporation into medical devices.
  • Key players in the IoT medical devices market include Medtronic, GE Healthcare, Abbott Laboratories, Johnson & Johnson, Siemens, Boston Scientific, Honeywell Life Care Solutions, Philips Healthcare, Biotronik, and Omron.

For the purpose of this report, Emergen Research has segmented the Global IoT Medical Devices Market on the basis of product, type, connectivity technology, end-user, and region:

  • Product Outlook (Revenue, USD Billion; 2017-2027)
    • Vital Signs Monitoring Devices
      1. Blood Pressure Monitors
      2. Blood Glucose Monitors
      3. ECG/Heart Rate Monitors
      4. Oximeters
      5. Multiparameter Monitors
    • Respiratory Devices
    • Fetal Monitoring Devices
    • Neurological Devices
    • Implantable Cardiac Devices
      1. Implantable Cardioverter Defibrillators
      2. Implantable Cardiac Monitors
    • Pacemakers
    • Hearing Devices
    • Anesthesia Machines
    • Patient Monitors
    • Ventilators
    • Imaging Systems
    • Infusion Pumps
    • Other Products
  • 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
  • End-User Outlook (Revenue, USD Billion; 2017-2027)
    • Hospitals & Clinics
    • Nursing Homes, Assisted Living Facilities, Long-term Care Centers, & Home Care Settings
    • Other End-users
  • Regional Outlook (Revenue, USD Billion; 2017-2027)
    • North America
      1. U.S.
      2. Canada
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. U.A.E.
      3. Rest of MEA

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