For more insights:- https://www.psmarketresearch.com/market-analysis/internet-of-things-in-healthcare-market
The penetration of the IoT technology in the healthcare industry has risen considerably in the past few years, which can be majorly ascribed to technological advancements. IoT allows the connection of physical devices to internet. As the prevalence of diseases across the world has been rising, the healthcare sector is making use of advanced technologies for treating, monitoring, and diagnosing conditions of patients. Moreover, governments of several countries are investing heavily in the IoT technology, thereby leading to its high demand.
The major components of IoT in healthcare are services, systems & software, and medical devices, out of which, the adoption of IoT-based medical devices has been the highest up till now. These devices are able to analyze and monitor the medical condition of the patients and are also able to notify caregivers regarding the condition for further treatment. IoT-enabled medical devices are further of different types, namely stationary, implanted, and wearable external.
Other than this, the demand for different systems & software, including network security, application security, data analytics, network bandwidth management, and remote device management, based on IoT is also projected to rise considerably in the years to come. The major applications of IoT in healthcare are medication management, inpatient monitoring, connected imaging, clinical operations and workflow management, and telemedicine. Among all these, the demand for IoT in the healthcare sector has been the highest for the telemedicine application in the past.
The adoption of telemedicine has been increasing rapidly, as IoT-based telemedicine platforms aid in improving the quality of patient care. In addition to this, the healthcare delivery can be reduced considerably by the use of these platforms. Remote patient monitoring, interactive telemedicine, and store-and-forward telemedicine are the major types of telemedicine platforms. Geographically, the global IoT in healthcare market was dominated by North America in the past, majorly owing to the advanced healthcare infrastructure.
Furthermore, the rising government initiatives for boosting the adoption of IoT solutions in the healthcare sector, increasing prevalence of chronic diseases, surging R&D activities in the HIT sector, and technological advancements are driving the regional market. Apart from this, the adoption of IoT in healthcare is also projected to rise in the Asia-Pacific region in the coming years, owing to the growing geriatric population, rising investments by private and public organizations in the HIT sector, and surging burden of chronic diseases.
Hence, the market is being driven by the increasing technological advancements and government initiatives for boosting the adoption of IoT.