Dublin, February 2, 2023 /PR Newswire/ — “Global Internet of Things (IoMT) Market Research and Forecast, 2022-2028” report added of ResearchAndMarkets.com Recruitment.
The global market for IoMT is projected to have a significant CAGR of around 24.6% during the forecast period.
IoMT is a collection of medical devices and applications connected to medical IT systems via online computer networks, where data can be transferred between other devices without the need for human-to-human or human-to-computer interaction. can be exchanged.
These devices are used to improve the quality of care while reducing costs and time. A variety of his IoMT applications in hospitals and clinics include patient monitoring, X-ray machines, CT scans and smart apps used to connect doctors with patients in remote locations.
The medical device industry is witnessing significant growth as IoT-based medical technologies are widely adopted in developed countries. The innovation of new he IoMT devices and the massive adoption of these devices in healthcare institutions due to the growing need for patient outcomes are the major factors driving the growth of the market. On the other hand, the massive adoption of Electronic Health Records (EHR) is another major factor driving the growth of the market.
Moreover, the high cost of IoT-based medical devices and the shortage of skilled professionals for IOT technology are the major restraints for the market growth.
The reasons behind the high cost are the installation requirements for software, hardware, training fees, network infrastructure, and IT support. In addition, increasing technological advancements supported by start-ups and growing demand for point-of-care medical devices are expected to boost the market growth during the forecast period.
Impact of COVID-19 on Global IMT Market
The global IoMT market has been positively impacted by the impact of the COVID-19 pandemic. Rise in the number of patients affected by many diseases, including coronavirus, has increased the demand and use of IoMT devices to increase patient outcomes and monitor and maintain data related to patient medications, which will drive market growth. led to an increase in
Outlook by segment
The global IoMT market is segmented based on components, applications, and end users. Based on component, the market is segmented into medical devices, and software and services. Based on application, the market is segmented into patient monitoring, telemedicine, connected imaging, drug development, and others.
Among these, the usage of IoMT devices in the patient monitoring segment is expected to increase significantly during the forecast period. This is because these devices are combined with advanced technology that can monitor patient diagnosis and medication via smart devices from a remote location. Based on end-users, the IoMT market is segmented into hospitals and clinics, research institutes and academics, and home care.
Hospitals and clinics are further projected to dominate the global IoMT market
Based on end users, the hospitals and clinics segment is projected to dominate the market during the forecast period. His use of IoMT devices in the medical field has grown in popularity over the last few years. IoMT devices have applications in patient monitoring, telemedicine, connected imaging, drug development, and more.
The benefits offered by IoMT devices, such as real-time monitoring, improved medication management, improved patient outcomes, and reduced healthcare costs, have increased their demand in the healthcare sector.
Therefore, hospitals and clinics are the largest end users of these devices. Over 70% of his organizations use her IoMT to maintain and record patient-related data. The increase in these technological advancements and the growing healthcare sector coupled with IoMT devices are expected to drive the market growth.
Regional Outlook
Geographically, the global IoMT market is segmented into four major regions: North America (U.S. and Canada), Europe (England, Germany, France, Italy, Spain, Russia,Remaining Europe), Asia Pacific (India, China, Japan, Korea,Remaining Asia Pacific), and other regions (latin america and the middle east and Africa (MEA)).
Of these, Asia Pacific It is expected to be the fastest growing region during the forecast period, owing to rising digitization in the healthcare sector and increasing adoption of EHR in emerging countries. Increasing disposable income, growing awareness of technological advancements in IoMT devices, and increasing demand for better patient outcomes are the major factors driving the growth of the region.
North America Estimated to dominate the global IoMT market
geographically, North America will dominate the global IoMT market in 2020 and is expected to grow at a significant CAGR during the forecast period. Established healthcare infrastructure and his IT industry are factors driving the growth of the market.
Due to the high prevalence of chronic diseases, the usage of IoMT devices is increasing in this region and new launches of IoMT by major players are expected to boost the market during the forecast period. In addition, rising R&D spending and technological advancements are also factors boosting the market outlook in the region.
Market player outlook
Key players in the global IoMT market contribute significantly by offering different types of products and increasing their geographical presence across the globe. Major players in the market include Apple, Inc., Boston Scientific Corp., IBM Corp., Cisco Systems, Inc., GE Healthcare, Koninklijke Philips NV, Medtronic PLC, Siemens Healthcare GmbH.
These market players have adopted various marketing strategies such as mergers and acquisitions, research and development, product launches, and geographic expansion to generate more revenue and remain competitive in the market. for example, February 2021, Hill-Rom announced the acquisition of contactless continuous monitoring technology from EarlySense.the transaction is $30 millionThe acquisition will enable Hillrom to use EarlySense’s next-generation AI-based sensing technology to build a differentiated set of connected solutions specifically aimed at improving remote patient care and patient outcomes. .
Report target
- 2020 market value data analysis and forecast to 2027.
- Annual market revenue ($ millions) for each market segment.
- Country analysis of key geographic regions.
- Key players operating in the global Internet of Medical Things (IoMT) market. Based on data availability, information related to pipeline products, and related news are also available in the report.
- Analysis of business strategy by identifying key market segments positioned for strong future growth.
- Analysis of market entry and market expansion strategies.
- Competitive strategy by identifying “who is where” in the market.
Main topics:
1. Report overview
2. Market Overview and Insights
2.1. Reporting scope
2.2. Analyst Insights and Current Market Trends
2.2.1. Main Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive environment
3.1. Major company analysis
3.1.1. Overview
3.1.2. Financial analysis
3.1.3. SWOT analysis
3.1.4. Recent Developments
3.2. Key Strategic Analysis
3.3. Impact of Covid on Key Players
4. Market Determinants
4.1. Motivator
4.2. Constraints
4.3. Opportunities
5. Market segmentation
5.1. Global IOMT Market by Component
5.1.1. Medical devices
5.1.2. Software and Services
5.2. Global IOMT Market by Application
5.2.1. Patient monitoring
5.2.2. Telemedicine
5.2.3. Connected Imaging
5.2.4. Drug development
5.2.5. Others (Fitness & Wellness Measurements)
5.3. Global IOMT Market, By End User
5.3.1. Hospitals and clinics
5.3.2. Research Institutes and Academics
5.3.3. Home Care
6. Regional analysis
6.1. North America
6.1.1. America
6.1.2. Canada
6.2. Europe
6.2.1. United Kingdom
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Russia
6.2.7. The rest Europe
6.3. Asia Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. The rest Asia Pacific
6.4. Rest of the World
6.4.1. latin america
6.4.2. Middle East & Africa
7. Company Profile
7.1. Adriatec, LLC
7.2. Alive Core Co., Ltd.
7.3. Apple.
7.4. Bioserenity SAS
7.5. Boston Scientific Corporation
7.6. Kare Technologies Co., Ltd.
7.7. Centrac Co., Ltd.
7.8. Cisco Systems, Inc.
7.9. QHealth Co., Ltd.
7.10. Early Sense Co., Ltd.
Learn more about this report here https://www.researchandmarkets.com/r/lntao3-internet?w=5
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