According to FutureWise analysis the market for IoT in Healthcare in 2023 is US$ 41.5 billion, and is expected to reach US$ 389.99 billion by 2031 at a CAGR of 32.32%.
FutureWise Market Research has instantiated a report that provides an intricate analysis of IoT in Healthcare Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of the market.
According to the research study conducted by FutureWise research analysts, the IoT in Healthcare Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.
IoT-based healthcare infrastructure can significantly reduce a lot of operations that normally require human intervention. Features like Electronic Medical Records (EMRs), patient monitoring and scheduling systems are integrated in one system owing to IoT technology. With all hospital resources being used extensively, using a tool for monitoring patients shall help the healthcare personnel work efficiently.
The Shanghai Public Health Clinical Center (SPHCC) started using a continuous temperature sensor developed by a connected health startup VivaLNK located in California and these sensors are used for monitoring COVID-19 patients, thereby reducing the risk of healthcare professionals getting contracted with the virus. The SPHCC declared that they are implementing IoT products that are connected via Bluetooth and are using gateways provided by Cassia Network along with the medical wearable sensors of VivaLNK for monitoring novel coronavirus patients. The SPHCC have also collaborated with Yitu Helathcare, an AI startup based in Shanghai, in co-developing an Intelligent Evaluation System for Chest CT that is AI-powered.
Furthermore, Kinsa Health has collected data from their one million connected thermometers to understand what areas of the United States are seeing a rise in the patient number. Such data points are useful in providing a real-time surveillance of the disease and could help identify early signs of new COVID-19 clusters.