The healthcare industry across the globe is experiencing a paradigm shift in a way health monitoring and health data analysis is done. Increasing inception of advanced technological devices in clinical operations, high M2M communication and growing acceptance of various health and fitness wearable devices among different age groups are providing high opportunities for healthcare sector. Currently healthcare industry is experiencing high transformation and is moving towards quality care with low cost high accessibility and affordability for all.

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Healthcare and medical are the frontline adopters of Internet of Things (IoT) technology. Application of IoT in healthcare will enable organizations to have a centralized control and monitoring over various day-to-day operations and tracking, which will ultimately help organizations to achieve improved operational efficiency and greater visibility. Through greater visibility and control organization will able to deliver better care, safety and will able to achieve cost effectiveness and improved workflow management.

The constant needs and requirements for better healthcare outcomes, high usage of remote patient monitoring and increasing adoption of connected devices with improvements in networking technologies are some of the factors that are driving the IoT healthcare market. Privacy and security of medical records are some of concerns that may limit the adoption of IoT in healthcare industry. Low common governance standards, data management and interoperability issues are few of the factors that will hinder the growth of IoT healthcare market in the coming years.

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The IoT healthcare market is segmented on the basis of component into system and software, medical devices and services. Further, on the basis of application the global IoT healthcare market is segmented into connected imaging, medication management, telemedicine, clinical operations management and others. The IoT healthcare market is also divided on the basis of end-users into research and diagnostic laboratories, clinical research organization, hospitals and clinics and government institutions. The global IoT healthcare market is bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.

North America holds one of the largest share in the global IoT healthcare market. High government supports, efficient healthcare infrastructures, high health awareness among communities in North American region has fueled the growth of the IoT healthcare market. Asia Pacific is one of the fastest growing IoT healthcare market. Increasing government regulation and supports regarding public health and rise in adoption of advanced technology are some of the reasons for the growth of IoT healthcare in Asia Pacific region. Other factors such as increasing investments by major IoT companies, improving healthcare infrastructure and increasing government programs and initiative are further fueling the growth IoT healthcare market.

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Some of the key players operating in the global IoT healthcare market are Microsoft Corporation, GE Healthcare Ltd., Apple Inc., Qualcomm Life Inc., Medtronic PLC, International Business Machines Corporation, Koninklijke Philips N.V., Proteus Digital Health, Cerner Corporation, Diabetizer Ltd. & Co. KG, SAP SE, healthSpot, SetPoint Medical and Physiq among others.

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