IoT Medical Devices Market - Trends Forecast Till 2028

IoT Medical Devices Market, By Product Type (Vital Signs Monitoring Devices, Imaging Systems, Implantable Cardiac Devices, Patient Monitors, Respiratory Devices, Infusion Pumps, Anesthesia Machines, Neurological Devices, Hearing Devices, Fetal Monitoring Devices, Ventilators, Safety Monitors, Medication Monitors, Activity Monitors, Others), Type (Implantable Medical Devices, Stationary Medical Devices, Wearable Medical Devices, Others), Connectivity Technology (WI-FI, Bluetooth, Zigbee, Others), End User (Hospitals, Clinics, Nursing Homes, Assisted Living Facilities, Home Care Setting, Others), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: September, 2020

Base Year Estimate: 2019

Report ID: D-HC-IMD-39

Format:  

Number of Pages: 354

Domain: Healthcare

IoT Medical Devices Market – Trends Forecast Till 2028

The Global IoT medical devices market is anticipated to reach USD 94.2 billion by 2020 growing at a CAGR of 21.8% during the forecasting period, 2020-2028. IoT medical devices are the collection of medical devices and applications that connect to healthcare IT systems through online computer networks. The medical devices are equipped with Wi-Fi to allow machine-to-machine communication. Factors such as a rise in government initiatives for promoting digital health and the growing need for cost-containment in healthcare delivery are some of the major drivers for the IoT medical devices market

IoT Medical Devices Market – Trends Forecast Till 2028

The Global IoT medical devices market is segmented into product type, type, connectivity technology, end-user, and geography.

The product Type segment is segmented into Vital Signs Monitoring Devices, Imaging Systems, Implantable Cardiac Devices, Patient Monitors, Respiratory Devices, Infusion Pumps, Anesthesia Machines, Neurological Devices, Hearing Devices, Fetal Monitoring Devices, Ventilators, Safety Monitors, Medication Monitors, Activity Monitors, and Others

The type segment is segmented into Implantable Medical Devices, Stationary Medical Devices, Wearable Medical Devices, and Others

The connectivity technology segment is segmented into WI-FI, Bluetooth, Zigbee, and Others

The end-User segment is segmented into Hospitals, Clinics, Nursing Homes, Assisted Living Facilities, Home Care Setting and Others

Geographically, the global IoT medical devices market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions. 

North America region is the largest contributor to the IoT medical devices market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028.

Key players in the global IoT medical devices market are Medtronic, Koninklijke Philips N.V., General Electric, International Business Machines Corporation, Microsoft, Cerner Corporation, Proteus Digital Health, Adheretech, Inc., Google, Cisco Systems, Inc., Siemens, Boston Scientific, Honeywell Life Care Solutions, Biotronik, Johnson & Johnson, Omron, Biotelemetry, Alivecor, Agamatrix, IHealth Lab, Stanley Healthcare, Welch Allyn among others

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • In 2018, NHS has announced that it would be making the FreeStyle Libre smart CGM available on prescription to Type 1 Diabetes sufferers.
  • In 2018, Philips and Samsung have announced their partnership for expanding the connected health ecosystem. Both the companies have decided for integrating the Samsung ARTIKTM services with the Philips Healthsuite Digital Platform

Hence, tremendous progress has been made over the last decade and yet a lot more to come in the recent years

Available Customizations

In addition to the market data for IoT medical devices market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, a conference like Jefferies conference)—to identify and collect information useful for this study of the IoT medical devices market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global IoT medical devices market. Through secondary, the market is classified and segmented as per of industry trends, developments, regional markets, products, and technological developments. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the IoT medical devices market.

The primary respondent breakdown is provided below:

IoT Medical Devices Market – Trends Forecast Till 2028

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the IoT medical devices market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data we contact the primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for IoT medical devices market so as to understand the trends and the factors involved in changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Features

Description

Market Revenue In 2020

USD 94.2 billion

Growth Rate

CAGR of 21.8% during the forecasting period, 2020-2028

Historical Data

2017-2018

Forecast Years

2020-2028

Base Year 

2019

Units Considered

Revenue in USD billion and CAGR from 2020 to 2028

Report Segmentation

Product Type, Type, Connectivity Technology, End-User, and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Medtronic, Koninklijke Philips N.V., General Electric, International Business Machines Corporation, Microsoft, Cerner Corporation, Proteus Digital Health, Adheretech, Inc., Google, Cisco Systems, Inc., Siemens, Boston Scientific, Honeywell Life Care Solutions, Biotronik, Johnson & Johnson, Omron, Biotelemetry, Alivecor, Agamatrix, IHealth Lab, Stanley Healthcare, Welch Allyn among others

Available Customization 

In addition to the market data for IoT medical devices market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

 

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