IoT in Healthcare Market

IoT in Healthcare: 7 Emerging Trends Driving Market Growth

The global IoT in Healthcare market is expected to increase from USD 127.7 billion in 2023 to USD 289.2 billion in 2028, at a Compound Annual Growth Rate (CAGR) of 17.8% over the forecast period. Various factors, such as the growing emphasis on active patient engagement and patient-centric care, the growing need for cost-cutting measures in healthcare, the increasing adoption of high-speed network technologies for IoT connectivity, the evolution of complementary technologies, such as AI and big data, and the need for healthcare services in remote locations, are expected to drive the growth of the IoT in healthcare market.

The global IoT in healthcare market is experiencing a surge in growth, driven by several emerging trends:

  • Focus on preventative care and chronic disease management
  • Rise of telehealth and remote patient monitoring
  • Integration with Artificial Intelligence (AI)
  • Improved data security and privacy
  • Focus on interoperability and device integration
  • Growing adoption of connected medical devices
  • Focus on affordability and scalability

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Focus on preventative care and chronic disease management: IoT wearables and remote monitoring devices allow for continuous health data collection, enabling early detection of potential issues and personalized treatment plans for chronic conditions.

Rise of telehealth and remote patient monitoring: IoT facilitates virtual consultations and remote monitoring of patients in their homes, improving accessibility to healthcare and reducing hospital readmissions.

Integration with Artificial Intelligence (AI): AI can analyze vast amounts of healthcare data collected through IoT devices, providing valuable insights for diagnostics, treatment recommendations, and even predicting potential health risks.

Improved data security and privacy: As healthcare becomes more data-driven, robust cybersecurity solutions are crucial to ensure patient data privacy and compliance with regulations.

Focus on interoperability and device integration: Seamless communication between different IoT devices and healthcare IT systems is essential for efficient data collection and analysis.

Growing adoption of connected medical devices: From smart glucose monitors to ingestible sensors, a wider range of medical devices are incorporating IoT capabilities, allowing for real-time patient monitoring and improved treatment outcomes.

Focus on affordability and scalability: As IoT technology matures, the cost of devices and solutions is decreasing, making it more accessible for a wider range of healthcare providers and patients.

Related Reports:

IoT in Healthcare Market by Component (Medical Device, Systems & Software, Services, and Connectivity Technology), Application (Telemedicine, Connected Imaging, and Inpatient Monitoring), End User and Region - Global Forecast to 2028

IoT in Healthcare Market Size,  Share & Growth Report
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