The global IoT in healthcare market was valued at USD 36.2 billion in 2022 and is projected to reach USD 305.55 billion by 2032, growing at a CAGR of 23.4%. In 2022, hardware dominated the market with a 58.25% share, while telehealth led the applications with 36.37%. Surgical robotics is expected to see the highest growth, with a 19.7% CAGR from 2023 to 2032.
Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5094
IoT is transforming healthcare by incorporating technology into daily medical practices, offering solutions to challenges like rising costs, an aging population, and the growing prevalence of chronic diseases. IoT improves both patient care and operational efficiency through devices such as X-ray machines, patient monitors, and other hospital equipment.
Here are some key benefits of IoT in healthcare:
The COVID-19 pandemic significantly sped up the adoption of IoT in healthcare, with a marked rise in the use of telehealth and remote monitoring solutions. This shift was accompanied by increased investments in digital health technologies. To meet the challenges posed by the pandemic, regulatory bodies like the U.S. FDA fast-tracked approvals for medical devices.
Notable innovations during the pandemic included the Whoop Strap, designed to monitor respiratory rates, and Philips’ disposable patches and biosensors, which were tailored for COVID-19 detection. Other examples include the Scripp ‘DETECT’ system for data collection from wearables, Taiwan’s testing and tracing technologies, Eko’s ECG tool for cardiac assessments, the ‘Lumify’ portable ultrasound, and Aidoc Medical’s AI-driven CT scans for COVID-19 detection.
The IoT healthcare sector saw impressive growth during this period, with a 20% increase in 2020, highlighting the rapid expansion of IoT technologies in healthcare. IoT applications, especially in remote monitoring of vital signs, general health, nutrition, and rehabilitation, played a crucial role in improving patient outcomes. These technologies have been key in increasing life expectancy and reducing morbidity and mortality, making a lasting impact on the healthcare landscape during these challenging times.
In 2023, Medtronic plc acquired EOFlow Co., the maker of EOPatch devices. This acquisition aims to enhance Medtronic’s portfolio with a complementary Continuous Glucose Monitor (CGM) and Meal Detection Technology algorithm.
In June 2021, CONNEQT and LifeQ formed a partnership to provide health-related information to users of wearable devices, marking a joint effort to improve the delivery of health data through wearable tech.
In 2020, Philips received approval from the U.S. Food and Drug Administration for its Remote Patient Monitoring Devices, further advancing their healthcare technology offerings.
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/iot-in-healthcare-market-size
Access exclusive insight now @ https://www.towardshealthcare.com/price/5094
We’ve prepared a service to support you. Please feel free to contact us at sales@towardshealthcare.com
Web: https://www.towardshealthcare.com
Visit Dental Specifics: https://www.towardsdental.com
Get the latest insights on industry segmentation with our Annual Membership: Get a Subscription
For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare
📊 Market Snapshot The global flow cytometry services market is witnessing impressive growth. It was valued at USD 3.37 billion… Read More
The global market for Lysosomal Storage Diseases (LSDs) is steadily expanding. In 2024, the market was valued at USD 8.61… Read More
The chromatography instrumentation market is steadily gaining momentum. Valued at USD 7.93 billion in 2024, it is expected to grow… Read More
The global nurse call systems market is rapidly expanding, driven by a growing demand for enhanced healthcare communication. Valued at… Read More
The global antimicrobial resistance (AMR) surveillance market is witnessing steady growth as the world battles the rising threat of drug-resistant… Read More
The global hemophilia inhibitors market is poised for significant growth, with projections indicating a substantial increase in revenue between 2023… Read More