Global Internet of Medical Things (IoMT) Market Analysis, Trends and Insights 2018-2023
Summary - A new market study, titled “Global Internet of Medical Things (IoMT) Market Research and Forecast, 2018-2023 has been featured on WiseGuyReports.
Global Internet of Medical
Things market (IoMT) is predicted to grow at a significantly high growth rate
during the forecast period (2018-2023). In the medical device industry, major
growth has been observed as IoT based medical technology has been adopted
widely in developed economies. The IoMT is a collection of medical devices and
applications connected to healthcare IT systems via online computer networks.
Currently, the most IoT initiatives in the medical industry have been revolving
around the improvement of patient’s health including remote monitoring and
telemonitoring. Large adoption of electronic health records (EHR) has been the
major factor driving market growth. In 2016, more than 95% of hospitals were
eligible for the Medicare and Medicaid EHR Incentive Program to have achieved
meaningful use of certified health IT. Additionally, the presence of major
market players such as Philips and GE healthcare and increasing healthcare
spending act as major motivators of growth of the market.
High costs of IoT based medical devices along
with lack of skilled professionals towards IOT technology act as major
restraints for the market growth. The reason behind the high cost is the
requirement of the installation of software, hardware, training fees,
networking infrastructure, & IT support. However, increasing technological
advancement supported by start-ups and rising demand for point of care medical
devices countries are expected to drive the market growth during the forecast
period.
The IoMT market has been
segmented into North America, Asia-Pacific, Europe and Rest of the World. North
America has been predicted to dominate the global Interne IoMT market due to
well-established healthcare infrastructure and IT industry. Additionally,
Asia-Pacific is expected to be the fastest growing region during the forecast
period owing to rising digitalization in the healthcare sector and increasing
adoption of EHR in the emerging countries.
The key players in the IoMT market are Cisco
Systems Inc., Honeywell International Inc., IBM Corporation, Microsoft
Corporation, Philips N.V. and so forth. Merger & acquisition, R&D,
partnership and collaboration, and product launch, are the key strategies
adopted by market players across the globe. Philips is focused on the
development of IoT enabled cardiac monitoring, remote patient communication
devices, and sensor-related products, whereas GE Healthcare and Medtronic PLC
are engaged in developing cloud-based technologies in existing monitoring
devices and cardiac pacemakers.
Research methodology
The market study of the internet of medical
things market is incorporated by extensive primary and secondary research
conducted by a research team at OMR. Secondary research has been conducted to
refine the available data to break down the market in various segments, derive
total market size, market forecast, and growth rate. Different approaches have
been worked on to derive the market value and market growth rate. The OMR team
collects facts and data related to the market from different geographies to
provide a better regional outlook. In the report, the country-level analysis is
provided by analyzing various regional players, regional tax laws and policies,
consumer behavior and macroeconomic factors. The numbers extracted from
Secondary research have been authenticated by conducting proper primary
research. It includes tracking down key people from the industry and interviewing
them to validate the data. This enables the analysts to derive the closest
possible figures without any major deviations in the actual number. Our
analysts try to contact as many executives, managers, key opinion leaders, and
industry experts to get first-hand information. Primary research brings
authenticity to our reports.
Secondary sources include
• Financial reports of companies involved in the
market
• Whitepapers, research-papers and news blogs
• Company websites and their product catalog
• Supplier Websites such as Alibaba, Amazon for
pricing analysis
The report is intended for healthcare providers,
healthcare payers, research laboratories and individuals for overall market
analysis and competitive analysis. The report will serve as a source for 360-degree
analysis of the market thoroughly integrating different models delivering
insights into the market for better business decisions.
Market segmentation
Global internet of medical things market has
been segmented on the basis of component, application and end user. On the
basis of the component, the market can be further segmented into medical
devices, systems & software and services. Additionally, IoMT market has
been segmented on the basis of application into patient monitoring,
telemedicine, connected imaging, drug development, fitness and wellness
measurement, and others. Moreover, on the basis of end users, the market is
segmented into healthcare providers, healthcare payers, research laboratories
and individuals. Global internet of medical things market is bifurcated as
follows:
• Global IoMT Market Research and Analysis by
Component
• Global IoMT Market Research and Analysis by
Application
• Global IoMT Market Research and Analysis by
End-Users
The report covers
• Comprehensive research methodology of the
global internet of medical things market.
• This report also includes a detailed and
extensive market overview with Analyst insights & key market trends.
• An exhaustive Analysis of macro and micro
factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other
government policies impacting the global internet of medical things market.
• Insights about market determinants which are
stimulating the global internet of medical things market.
• Detailed and extensive market segments with
regional distribution of forecast revenues.
• Extensive profiles and recent developments of
market players.
Companies Mentioned
1. Adheretech, LLC.
2. AliveCor, Inc.
3. Apple, Inc.
4. BioSerenity SAS
5. Carre Technologies, Inc.
6. CenTrak, Inc.
7. Chrono Therapeutics, Inc.
8. Cisco Systems, Inc.
9. Cue Health, Inc,
10. EarlySense, Ltd.
11. Evermind, Inc.
12. EyeNetra, Inc.
13. GE Healthcare
14. GlucoVista, Inc.
15. Google, LLC
16. Honeywell International, Inc.
17. IBM Corp.
18. InfoBionic, Inc.
19. iRhythm Technologies, Inc.
20. Kinsa, Inc.
21. Koninklijke Philips N.V.
22. MAD Apparel, Inc.
23. Mc10, Inc.
24. Medtronic PLC
25. Microsoft Corp.
26. NeuroSky, Inc.
27. Neurovigil, Inc.
28. Owlet Baby Care, Inc.
29. Qardio, Inc.
30. SAP SE
FOR MORE
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