Internet of Medical Things (IoMT) Market is anticipated to reach USD 142.45 billion by 2026, with a CAGR of 28.9%
The global “Internet of Medical Things Market” is anticipated to reach USD 142.45 billion by 2026, with a CAGR of 28.9%, on account of the increasing prevalence of chronic diseases. This, coupled with the improving healthcare infrastructure and facilities worldwide, is primarily contributing to the growth of the market. Internet of medical things consists of a system of interrelated devices that are either connected to each other or with an external network. These devices are capable of sharing information amongst themselves with the help of internet connectivity. The advent of technological advancement in medical devices, coupled with the rise in disposable incomes of people, is anticipated to help increase the popularity of smart medical devices, ultimately boosting the Internet of Medical Things market growth.
According to a recent study by Fortune Business Insights™ titled,
“Internet of Medical Things (IoMT) Market Size, Share & Industry Analysis,
By Product Type (Stationary Medical Devices, Implanted Medical Devices,
Wearable External Medical Devices), By Application (Telemedicine, Medication
Management, Patient Monitoring, Others), By End User (Healthcare Providers,
Patients, Government Authorities, Others) and Regional Forecast, 2019-2026,”
the market value stood at USD 18.75 billion in 2018.
Get Request a Sample Copy of the Internet of Medical Things
Report:
Philips’ Collaboration with Cognizant to Develop
Digital Health Solutions to Incite Development
In July 2021, Philips, a worldwide leader in health technology
announced its collaboration with Cognizant, a global leader in professional
services. The collaboration is aimed to develop end-to-end digital
health solutions for patients, researchers, and providers. The alliance
will bring Cognizant’s expertise in digital engineering and Philips
HealthSuite, a platform based on cloud. The collaboration will help in
maintaining and delivering advanced digital health solutions at scale, provide
advanced connectivity, and utilize big data for the creation of actionable insights.
The healthcare providers can observe their patients outside the conventional
clinical settings with these solutions.
Growing Investments in IoT in Healthcare to Fuel
Market Growth
The adoption of the 4G network has created lucrative growth opportunities for the market. The developments in mobile phone technology and the telecommunication industry have augmented due to the increased investments. The internet of health things (IoMT) can reduce healthcare costs for governments and patients. The medtech companies with the IoMT focus on transforming the delivery of advanced healthcare to patients. The investments in the healthcare industry have significantly increased during the pandemic. The increasing investments in IoT to transform the healthcare sector are anticipated to bolster the global IoMT market growth.
Major Internet of Medical Things Market Key players covered in the
report include:
·
Biotronik
·
GENERAL ELECTRIC COMPANY (GE Healthcare)
·
Boston Scientific Corporation
·
Medtronic
·
Johnson & Johnson Services, Inc.
·
Cisco Systems, Inc.
·
Welch Allyn
·
IBM Corporation
·
Siemens Healthcare GmbH
·
Koninklijke Philips N.V.
· Others
Rising Awareness about Advancement in Smart Healthcare to Help Asia Pacific Witness Significant Growth
North America is holding a dominant market share with a revenue generation of USD 5.87 billion as per 2018 records. This is attributable to the rise in the prevalence of chronic diseases. In addition to this, the increasing number of product launches in this region, coupled with the upsurge in research and development initiatives by major market manufacturers are anticipated to help increase the overall market size during the forecast duration. However, the increasing disposable incomes of people, coupled with the rapid adoption of IoMT devices in Asia Pacific, will help this region rise significantly. Apart from this, the rising prevalence of chronic diseases will also help augment the overall medical things market growth in the coming years.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/internet-of-medical-things-iomt-market-101844About Us:
Fortune Business Insights™ delivers accurate data and innovative
corporate analysis, helping organizations of all sizes make appropriate
decisions. We tailor novel solutions for our clients, assisting them to address
various challenges distinct to their businesses. Our aim is to empower them
with holistic market intelligence, providing a granular overview of the market
they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Comments
Post a Comment