Persistence Market Research finds the market for IoT sensors deployed in healthcare applications was valued at $2,208.9 Million in 2017, and is expected to expand at a CAGR of 12.2% during the forecast period (2018–2026). The demand for IoT sensors in healthcare is expected to be driven by improvements in patient engagement, increased accuracy in data analysis, enhanced disease management and treatment results, and reduction in treatment costs.
The global IoT sensors in healthcare market is categorized by application, end user, and region:
- Based on application, the IoT sensors in healthcare market is segmented into patient monitoring, diagnostics, clinical efficiency, and other applications.
- The patient monitoring segment of the IoT sensors in healthcare market is expected to register a CAGR of 13.5% during the forecast period.
- By end user, the global IoT sensors in healthcare market is segmented into hospitals, CROs, rehabilitation centers, and other end users.
- Among the regions, North America was the largest market in the IoT sensors in healthcare market, which accounted for over 21.0% of the market share in 2017. Also, the demand for IoT sensors in healthcare is increasing in the market in SEA excluding China and Japan.
- Top companies identified across the IoT sensors in healthcare market value chain are STMicroelectronics; Koninklijke Philips; General Electric Company; Siemens AG; Texas Instruments Incorporated; TE Connectivity; Honeywell International Inc.; PAREXEL International Corporation; Analog Devices, Inc. and Proteus Digital Health, among others.
From monitoring and diagnostics to delivery methods, IoT sensors in healthcare combine sensor output and communications to provide functions that were considered conceptual, until recently. IoT sensors in healthcare enable medical equipment to accumulate and share data with the cloud as well as each other, to facilitate the accumulation of data that is analyzed with accuracy at breakneck speeds. IoT sensors in healthcare are wearable, cloud-based, or device embedded. With advancements in IoT sensors in healthcare and healthcare IT, the industry now includes a dynamic collection of patient data to foster diagnostics and preventive care, and even measure the probable outcome of the preventive treatment.
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