The North America Internet of Things in Healthcare Market would witness market growth of 15.8% CAGR during the forecast period (2022-2028).
The Internet of Things has entered the healthcare industry. As connected technology is becoming more ingrained in daily life, the healthcare industry is observing an increase in connected devices and expanding the demand for connected medical devices. For example, IoMT integrates data (patient information or performance data), people (patients, doctors, and carers), and processes (healthcare delivery and patient support) through connected medical devices and mobile medical applications.
Patients and providers in the healthcare business are adopting connected devices and IoMT due to the numerous benefits they offer, like real-time patient monitoring, more personalized care, and increased safety. With IoT-connected intelligent devices, health insurers have many opportunities. Insurance companies can use health monitoring devices' data for underwriting and claims processing.
This information will enable them to detect fraudulent claims and identify applicants for underwriting. IoT devices provide transparency between the clients and insurers in the pricing, claims management, underwriting, and risk evaluation processes. As a result of IoT-captured data-driven decisions in all operational processes, customers will have relevant visibility into the underlying reasoning behind every choice made and process outcomes.
Electronic health records (EHRs) have attained their full potential in North America, especially in the United States. Several firms are in the lead in the IoT and healthcare industries, seeking to acquire a substantial market share by developing solutions for specific medical applications, growing collaborative research, and acquiring new startups. As a result of their service offerings, healthcare IT companies in the United States are currently experiencing advantageous, revolutionary, and inventive advantages. Incorporating intelligence into medical equipment has elevated monitoring to a top priority in this region. Increasing measures to minimise medical expenses, the security of data transfer on health IoT devices, and the shift from a fee-for-service to a value-based model have all greatly bolstered the market.
The US market dominated the North America Internet of Things in Healthcare Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $183,812 million by 2028. The Canada market is poised to grow at a CAGR of 18.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 17.4% during (2022 - 2028).
Based on End-use, the market is segmented into Hospitals & Clinics, Clinical Research Organizations and Research, Diagnostic Laboratories & Others. Based on Application, the market is segmented into Telemedicine, Patient Monitoring, Connected Imaging, Clinical Operations, Medical Management and Others. Based on Connectivity Technology, the market is segmented into Cellular, Wi-Fi, Bluetooth & Zigbee, RFID and LPWANs. Based on Component, the market is segmented into Medical Devices, System & Software and Services. Based on Medical Devices Type, the market is segmented into Stationary Medical Devices, Implanted Medical Devices and Wearable External Devices. Based on System & Software Type, the market is segmented into Remote Device Management, Network Bandwidth Management, Application Security & Network Security and Data Analytics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Internet of Things in Healthcare Market is Projected to reach USD 606.7 Billion by 2028, at a CAGR of 16.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Cisco Systems, Inc., GE HealthCare Technologies, Inc., Microsoft Corporation, SAP SE, Infosys Limited, Oracle Corporation (Cerner Corporation), Qualcomm Inc. (Qualcomm Technologies, Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), Wipro Limited, and Intel Corporation.
By End-use
By Application
By Connectivity Technology
By Component
By Country
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