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IoT Sensors in Healthcare Market

Market Study on IoT Sensors in Healthcare: Increasing Adoption of Wearable Devices to Aid Market Expansion

IoT Sensors in Healthcare Market by Application (Patient Monitoring, Diagnostics and Clinical Efficiency)

IoT Sensors in Healthcare Market Outlook (2023 to 2033)

The market for IoT sensors in healthcare was valued at US$ 3,876.1 Million in 2022, and it is expected to have grown to US$ 14,416.8 Million by the end of 2033. The market for IoT sensors in healthcare is appraised to evaluate to US$ 4,310.2 Million in 2023 and projected to grow at a CAGR of 12.8% from 2023 to 2033.

The IoT sensors in healthcare refer to a network of interconnected devices that collect and transmit data about patients' health status and medical conditions. These devices, which can include wearable devices, smart pills, environmental sensors, and other medical devices, are designed to collect and transmit data to healthcare providers in real-time.

The data collected by IoT sensors can include a wide range of information, such as vital signs, medication adherence, physical activity, sleep patterns, and environmental conditions. This data can be used to monitor patients remotely, identify potential health problems before they become serious, and improve the overall quality of care.

The IoT sensors in healthcare are part of a larger trend towards connected health, which seeks to leverage technology to improve patient outcomes and reduce healthcare costs. As such, they are expected to play an increasingly important role in the future of healthcare as the industry continues to embrace digital health solutions.

IoT Sensors in healthcare market accounts for 25% market share in global IoT sensors market.

The IoT Sensors in Healthcare market in North America held 27.2% which is the uppermost market share in the worldwide landscape in 2022 and is projected to retain its position within the forecast period. The demand for IoT Sensors in Healthcare in the Europe region it held around 20.8% of the market in 2022.

IoT Sensors in Healthcare Market Size (2023)

US$ 4,310.2 million

Projected Market Value (2033)

US$ 14,416.8 million

Global Market Growth Rate (2023 to 2033)

12.8%

Hospitals Market Share (2022)

29.9%

India Market Growth Rate (2022)

10.5%

Patient Monitoring Market CAGR (2022)

16.5%

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What Restraints Will Act as Hurdles for the Growth of IoT Sensors in Healthcare Market?

Security concerns in the IoT Sensors in Healthcare”

The security concerns are a major challenge for the adoption of IoT sensors in healthcare. The sensitive nature of healthcare data means that security is a critical concern, and any security breaches can have serious consequences for patient safety and privacy.

The Healthcare data is highly sensitive, and any unauthorized access or disclosure of this data can be detrimental to patient privacy. The use of IoT sensors in healthcare raises concerns about data privacy, as the data collected by these sensors can include personal health information, such as vital signs, medication USge, and other health-related data.

Overall, security concerns are a major challenge for the adoption of IoT sensors in healthcare, and healthcare organizations need to take steps to ensure that these devices are secure and that patient data is protected from unauthorized access or disclosure.

  • In February 2023, e& enterprise IoT & AI partnered with Stella technologies a company that specializes in digital health, the partnership will allow creation of AI and IoT tools that can be used for improving healthcare facilities in the GCC countries.
  • In June 2022, Rune Labs, a precision neurological based company received clearance from the FDA (Food and Drug Administration) of US to use Apple Watch for collecting data from the users of StrivePD on Apple Watch, who suffer from Parkinson’s Disease, this will allow this will allow Rune Labs to offer their users with necessary information and data that could help them in their routine care.
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Why is Demand for IoT Sensors in Healthcare increasing across US?

“High Efficiency of IoT Sensors will boost the Demand for IoT Sensors in Healthcare market in United States”

The high efficiency of IoT sensors will boost the demand for IoT sensors in the healthcare market in the United States. The IoT sensors have the potential to transform healthcare by enabling remote patient monitoring, real-time tracking of patient health data, and providing actionable insights for healthcare providers.

In addition, the COVID-19 pandemic has accelerated the adoption of remote patient monitoring technologies in United States including IoT sensors, as healthcare providers seek to minimize in-person contact and provide care to patients in their homes. This has further increased the demand for IoT sensors in healthcare. Overall and reduce healthcare costs make them a promising technology for the healthcare market in the United States.

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What Factors Allow India to Be a Major Market for IoT Sensors in Healthcare?

“Growing healthcare sector in India will drive the demand for IoT Sensors in Healthcare Market”

India is currently experiencing significant growth in its healthcare sector due to factors such as increasing population, rising incomes, and growing awareness of the importance of healthcare. With this growth comes an increased demand for healthcare technologies, including IoT sensors.

IoT sensors can be used in a variety of healthcare applications, such as remote patient monitoring, telemedicine, and real-time location systems for medical equipment and personnel. These sensors can collect data on patients' vital signs, medication adherence, and other health-related metrics, which can then be used to improve patient care and outcomes.

Remote patient monitoring is particularly relevant in the Indian context, as it allows healthcare providers to monitor patients in remote or underserved areas, where access to healthcare may be limited. IoT sensors can also help reduce the burden on hospitals and healthcare systems by enabling more efficient and cost-effective care.

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What Factors Is Allowing IoT Sensors in Healthcare to Grow in U.K.?

“Rising Demand for Home Healthcare Appliances in United Kingdom Will Boost the IoT Sensors in Healthcare”

Home healthcare appliances are medical devices or equipment that can be used in a patient's home to provide medical care, such as blood pressure monitors, glucose meters, and portable oxygen tanks. As the demand for these appliances increases, so does the need for remote patient monitoring, which is where IoT sensors can play a significant role.

By using IoT sensors to monitor patients remotely, healthcare providers can detect changes in their health status in real-time and intervene before a more severe health problem arises. This can lead to improved patient outcomes and reduce the need for hospital readmissions, which can be costly for both patients and healthcare systems. The rising demand for home healthcare appliances in the UK is likely to boost the use of IoT sensors.

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What Are Different Factors Allow Patient Monitoring in IoT Sensors in Healthcare to Dominate the Market?

“The Improved Patient Outcomes after using the IOT sensors that will drive the Demand for IoT Sensors in Healthcare market”

The use of IoT sensors in healthcare has the potential to improve patient outcomes significantly. By providing real-time data on patient health and behaviour, IoT sensors can help healthcare providers identify potential issues early on and intervene before they become more severe. This can lead to better patient outcomes, improved quality of care, and increased patient satisfaction.

In addition to improving patient outcomes, the use of IoT sensors in healthcare can also help reduce costs by enabling remote monitoring of patients. This can eliminate the need for frequent hospital visits, which can be costly and time-consuming for both patients and providers.

Overall, the potential benefits of IoT sensors in healthcare are significant, and as a result, demand for these devices is likely to continue to grow in the coming years.

What Factors are influencing the Demand for Hospitals in IoT Sensors in Healthcare?

“Rising Chronic Diseases will boost the market for IoT Sensors in Healthcare”

Hospitals are increasingly using IoT sensors to improve patient outcomes, reduce costs, and streamline workflows. Chronic diseases require ongoing management and monitoring, which can be time-consuming and expensive. IoT sensors can help hospitals monitor patients remotely and provide personalized care, which can be especially beneficial for patients with chronic conditions.

In addition, hospitals are using IoT sensors to improve patient safety, track medical equipment, and optimize hospital workflows. For example, IoT sensors can be used to monitor patient movement, detect falls, and track the location of medical equipment. Hospitals in IoT sensors in healthcare will grow at CAGR of 13.1% for year 2022.

Competitive Landscape

Companies are developing IoT technologies that assist various different segments in the healthcare industry depending upon their needs, such as IoT devices for patients, physicians and doctors and IoT devices for hospitals as well as health insurance companies.

The data collected from the IoT sensors is delivered to the cloud for better storage and services.

  • In July 2022, Korean Institute of Science and technology (KSIT) developed a tactile neuron device that was embedded with artificial neural network methods of learning. The device was used for applying pressure upon any cancerous site and the readings obtained would be combined with the elastography images (images in human body to determine the strain levels) to identify whether there is presence of breast tumour or not. KSIT said that their accuracy level was 95.8%.

Recent developments related to key players providing IoT Sensors in Healthcare market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

IoT Sensors in Healthcare Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • Israel
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Application
  • End User
  • Region

Key Companies Profiled

  • Keysight Technologies
  • TE Connectivity
  • Digi-Key Electronics
  • GE Healthcare
  • Abbot
  • Peerbits
  • Itrex Group
  • Alivecor
  • Bosch
  • Johnson Controls
  • Philips
  • Honeywell

Pricing

Available upon Request

Key Segments of IoT Sensors in Healthcare Market Industry Research

By Application:

  • Patient Monitoring
  • Diagnostics
  • Clinical Efficiency
  • Other Applications

By End User:

  • Hospitals
  • Clinical Research Organizations (CROs)
  • Rehabilitation Centers
  • Residential
  • Other End Users

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Keysight Technologies
  • TE Connectivity
  • Digi-Key Electronics
  • GE Healthcare
  • Abbot
  • Peerbits
  • Itrex Group
  • Alivecor
  • Bosch
  • Johnson Controls
  • Philips
  • Honeywell

- Frequently Asked Questions -

In 2022, the market value IoT sensors in healthcare were US$ 3,876.1 Mn.

The global IoT sensors in healthcare market is estimated to advance at 12.8% CAGR through 2033.

The market for IoT sensors in healthcare is forecasted to climb to US$ 7,313.2 Mn by 2033 end.

Demand for IoT sensors in healthcare market in China is projected to rise at a CAGR of 15.2% over the forecast period.

In 2022, the North America IoT sensors in healthcare market held a dominant market share of 27.2%.

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