Overview

IoT Medical Devices Market is estimated to value over USD 56.6 billion by 2027 end and register a CAGR of over 25% during the forecast period 2020 to 2027.

Growing investments for implementing digital technologies in healthcare organizations, emergence of connected care and increased adoption of wearable technology are the crucial factors accelerating the market growth. Advancements in technology and increasing ageing population along with growing presence of persistent diseases are positively influencing the expansion of the market size.

As per the research undertaken by a network provider company based in Aruba, over 85% of the healthcare institutions around the world will integrate IoT services in their systems by 2019. This study determines that healthcare organizations have initiated the usage of IoT for reducing costs, fostering innovations and improvements in patient monitoring.

Reduced emergency room stay times has further propelled its adoption in healthcare management. Major players are initiating innovative and novel software programs in order to address different issues related to healthcare. For example, to address the issue of the wait times of emergency rooms, GE Healthcare designed AutoBed, a software program which aided in reducing wait times for over 48% of the patients that needed in-hospital beds.

Wide utilization of connected technology in healthcare systems for management of clinical tasks and operational workflows is one of the key drivers of the market growth. It has allowed firms to design a platform that helps in notifying downtime of the system in the near future by giving out an automatic alert. Philips, by collaborating with Open Market, has designed an award-winning mobile messaging remote sensor technology, called e-Alert, that gives out notification regarding the potential MRI system issue before it goes into downtime. Such innovative programs have assisted in accelerating the growth of the market.

 

Key market players included in the IoT medical devices industry are:

Medtronic, GE Healthcare, Philips, Siemens, Abbott Laboratories, Boston Scientific, Honeywell Life Care Solutions, Biotronik, Johnson & Johnson, Omron, Biotechnology, Alivecor, Agamatrix, Ihealth Lab, Stanley Healthcare, Welch Allyn.

IoT Medical Devices Market Segmentation:

By Product

• Imaging Systems
• Vital Signs Monitoring Devices
• Implantable Cardiac Devices
• Patient Monitors
• Respiratory Devices
• Infusion Pumps
• Anaesthesia Machines
• Neurological Devices
• Hearing Devices
• Fetal Monitoring devices
• Ventilators
• Other Products

By Type

• Stationary Medical Devices
• Implantable Medical Devices
• Wearable Medical Devices
• Other 

By Connectivity

• Wi-Fi
• Bluetooth
• ZigBee
• Other Connectivity Technologies

By End User

• Hospitals & Clinics
• Nursing homes
• Assisted Living Facilities
• Long-Term Care Centres
• Home Care Settings
• Other End Users

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 

FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

 

Objectives of the Study:

• To provide with an exhaustive analysis on the market by product, by type, by connectivity, by end user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
• To forecast and evaluate micro-markets and the overall market 
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
• To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers 

Table of Contents

1 Introduction 

1.1 Objectives of the Study 

1.2 Market Definition 

        1.2.1 Markets Covered

        1.2.2 Years Considered for the Study

1.3 Currency 

1.4 Limitations 

1.5 Stakeholders 

 

2 Research Methodology 

2.1 Research Approach 

2.2 Research Data 

        2.2.1 Secondary Sources

                 2.2.1.1 Key Data From Secondary Sources

        2.2.2 Primary Sources

                 2.2.2.1 Key Data From Primary Sources

                 2.2.2.2 Breakdown of Primary Interviews

2.3 Market Size Estimation 

2.4 Market Breakdown and Data Triangulation 

2.5 Research Assumptions 

3 Executive Summary 

4 IoT Medical Devices Market: Premium Insights

 

4.1 IoT Medical Devices: Market Overview 

 

4.2 IoT Medical Devices Market: Regional Growth Opportunities 

4.3 IoT Medical Devices Market: Geographical Snapshot

4.4 Regional Mix : IoT Medical Devices Market (2020 vs 2027)

 

5 Market Overview 

5.1 Introduction

5.2 Market Dynamics

        5.2.1 Drivers

                 5.2.1.1 Government Initiatives for Promoting Digital Health

                 5.2.1.2 Growing Need for Cost-Containment in Healthcare Delivery

                 5.2.1.3 Rising Focus on Active Patient Engagement and Patient-Centric Care Delivery

                     5.2.1.4 Evolution of High-Speed Networking Technologies and Increasing Penetration of Smartphones, Tablets, and Other Mobile Platforms in Healthcare

                 5.2.1.5 Growing Focus on Patient Safety

        5.2.2 Restraints

                 5.2.2.1 High Deployment Cost of Connected Medical Devices and the Associated Infrastructure

                 5.2.2.2 Insufficient IoT Technology Skills Across Healthcare Organizations

        5.2.3 Opportunities

                 5.2.3.1 Low Doctor-To-Patient Ratio Leading to Increased Dependency on Self-Operated Ehealth Platforms

        5.2.4 Challenges

                 5.2.4.1 Issues Related to Data Security

                 5.2.4.2 Issues Related to Data Management and Interoperability

6 Industry Insights

6.1 Introduction

6.2 Industry Trends

        6.2.1 Increasing Number of Product Launches

        6.2.2 Growing Integration of Cloud Platforms and Saas in the Healthcare Ecosystem

        6.2.3 Increasing Number of Collaborations to Drive Innovation

6.3 Regulatory Analysis

 

7 IoT Medical Devices Market, By Product 

 

7.1 Introduction 

 

7.2 Imaging Systems

 

7.3 Vital Signs Monitoring Devices 

 

7.4 Implantable Cardiac Devices 

 

7.5 Patient Monitors 

 

7.6 Respiratory Devices

 

7.7 Infusion Pumps

 

7.8 Anesthesia Machines

 

7.9 Neurological Devices

 

7.10 Hearing Devices

 

7.11 Fetal Monitoring Devices

 

7.12 Ventilators

 

7.13 Other Products 

 

 

8 IoT Medical Devices Market, By Type

 

8.1 Introduction

 

8.2 Stationary Medical Devices

 

8.3 Implantable Medical Devices

 

8.4 Wearable Medical Devices

 

8.5 Other  

 

9 IoT Medical Devices Market, By Connectivity

 

9.1 Introduction

 

9.2 Wi-Fi

 

9.3 Bluetooth

 

9.4 ZigBee

 

9.5 Other Connectivity Technologies 

 

10 IoT Medical Devices Market, By End User

 

10.1 Introduction

 

  10.2 Hospitals & Clinics

 

  10.3 Nursing Homes, 

 

10.4 Assisted Living Facilities

 

10.5 Long-Term Care Centers

 

10.6 Home Care Settings

 

  10.7 Other End Users 

 

11 IoT Medical Devices Market, By Region 

 

11.1 Introduction

 

  11.2 North America

 

          11.2.1 US

 

          11.2.2 Canada

 

11.3 Europe

 

          11.3.1 Germany

 

          11.3.2 UK

 

          11.3.3 France

 

          11.3.4 Italy

 

          11.3.5 Spain

 

          11.3.6 Rest of Europe

 

  11.4 Asia Pacific

 

          11.4.1 Japan

 

          11.4.2 China

 

          11.4.3 India

 

          11.4.4 Rest of Asia Pacific

 

  11.5 Latin America

 

          11.5.1 Brazil

 

          11.5.2 Mexico

 

          11.5.3 Rest of Latin America

 

  11.6 Middle East and Africa 

 

12 Competitive Landscape 

  12.1 Overview

  12.2 Product Portfolio Mix

  12.3 Growth Strategy Matrix

  12.4 Market Ranking (2018)

  12.5 Competitive Situation and Trends

          12.5.1 Acquisitions

          12.5.2 Product Launches

          12.5.3 Agreements, Partnerships, and Collaborations

          12.5.4 Expansions

 

13 Company Profiles 

  13.1 Medtronic

  13.2 GE Healthcare

  13.3 Philips Healthcare (Philips)

  13.4 Siemens

  13.5 Abbott Laboratories

  13.6 Boston Scientific

  13.7 Honeywell Life Care Solutions

  13.8 Biotronik

  13.9 Johnson & Johnson

  13.10 Omron

  13.11 Biotelemetry

  13.12 Alivecor

  13.13 Agamatrix

  13.14 Ihealth Lab

  13.15 Stanley Healthcare

  13.16 Welch Allyn

 

14 Research Finding and Conclusion

 

15 Research Methodology

 

16 Research Data Source

Tables

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