Internet of things iot assisted medical devices

Global Internet of Things (IoT) Assisted Medical Devices Market Size, by Product Type, Modality & Region - Key Manufacturers, Analysis, Growth Trends, and Forecast till 2026

Category: Healthcare and Pharma     ID: IRP1822     Date: Oct, 2020
The Internet of Things (IoT) Assisted Medical Devices are Web connected medical device is a cloud based technology wherein patient’s vital parameters transmitted to the cloud based platforms where it is stored, aggregated and analyzed. Advantages of using web connecting technology includes timely management of the patients medical condition thus reducing the overall mortality rate, reduced clinics visits, reduced hospital and emergency admission..
Consumer health is one of the area which can more dramatically reshaped by the internet of things. Internet of things (IoT) medical devices or web connect medical devices have revolutionized the medical and healthcare industry in terms of delivering advanced and improved medical care thus leading to better clinical outcomes. Internet of Things (IoT) Assisted Medical Devices offer tremendous benefits including remote monitoring with the use of sensors network, actuators and other mobile communication devices called as Internet of Things (IoT) Assisted Medical Devices.
The global Internet of Things (IoT) Assisted Medical Devices market was estimated to be valued at USD xx million in 2019 and is projected to reach USD xx million by 2026, at a CAGR of 9.49% during 2019 to 2026. The global Internet of Things (IoT) Assisted Medical Devices Equipment market is primarily segmented by Product Type, Product Type, Modality, and region.
Leading manufacturers of the medical devices are increasingly taking advantage of internet of things (IoT) in order to deliver the solutions in more efficient manner. Various types of Internet of Things (IoT) Assisted Medical Devices that area currently in use in medical practice include, insulin pumps, asthma inhalers, pacemakers, glucose monitoring devices, infusion pumps, blood pressure monitors etc. One of the primary advantage of Internet of Things (IoT) Assisted Medical Devices is extended ability for continuous remote monitoring of the patient struggling with a chronic medical condition. Internet of Things (IoT) Assisted Medical Devices allow care for pediatric and the older population group, deliver personal health and fitness management and chronic diseases management.
Furthermore, lack of dedicated tools to secure the data and inadequate medical expertise and reluctance to adoption of such devices in the under developed countries are few of the factors hampering the market growth of Internet of Things (IoT) Assisted Medical Devices over the forecast period.
As the geriatric population is increasing there is an immense need of delivering in home medical care not only to reduce unwanted hospital visits but also to align with consumer’s preferences in order to live healthy while allowing their independence at home. The global market for Internet of Things (IoT) Assisted Medical Devices is expected to grow in popularity as increasing number of hospitals leverage technologies in multiple ways so as to increase the efficiency.
Furthermore, rising prevalence of chronic diseases including cardiovascular disease such as heart failure, diabetes and hypertension and increasing number of obese population are boosting the demand for technologically advanced remote patient monitoring solutions. By product type, the global web-connected medical devices market is segmented into vital signs monitoring devices, medication monitoring devices, safety monitoring devices and activity monitoring devices
By modality, the global web-connected medical devices market is segmented into wearable web-connected medical devices, and non-wearable web connected devices.
By end, user the global web-connected medical devices market is segmented into, hospitals, ambulatory surgical centers, specialty clinics and home care settings.
By regional presence, global web-connected medical devices market is segmented into five key regions viz. North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America will continue to dominate the global web-connected medical devices market followed by Europe. Increasing The US Federal Drug Administration (FDA) efforts to encourage the leading medical device manufacturers of Internet of Things (IoT) Assisted Medical Devices to actively monitor their software for bugs is expected to fuel the market growth in the U.S.
The future is focusing more on interconnected devices and the health care is adopting many of such devices with an aim to improve the future healthcare altogether. It is also remarkable that IoT is getting much more established with wide adoption of connected devices in the health care industry. Hence it is pretty much clear that the game is going to be two-sided as the IoT promoting medical devices and applications, and vice versa.
The countries covered in the research scope across regions include:
* North America- U.S. and Canada
* Europe- Russia, U.K., France, Germany, Italy, Spain, and Rest of Europe
* Asia-Pacific- China, Japan, India, South Korea, Australia & New Zealand and Rest of Asia Pacific
* Latin America- Brazil, Mexico and Rest of Latin America
* Middle East & Africa- South Africa, Turkey, GCC Countries and Rest of Middle East & Africa
Key Market Players:
The key players profiled in the market include are Medtronic, Philips Healthcare (Koninklijke Philips N.V.), GE Healthcare (General Electric Company), St. Jude Medical, LLC, Omron Corporation and Smiths Group plc. Companies are involved in collaboration agreements for R&D to exploit maximum potential.
Key Benefits of the Report:
* Global, regional, country Product Type, and Modality, market size and their forecast from 2015-2026
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
* Analysis on Key players’ strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions, Product Type and Modality, with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of Internet of Things (IoT) Assisted Medical Devices
* Owing to the volatility seen in the market due to the Global COVID-19 pandemic, businesses around the globe wish to know the impact on their market and how this changes the projections for 2020 and the forthcoming years. Orian Research is in talks with seasoned market analysts and key note speakers to understand the impact of COVID-19 on markets and factors that will bring in stability in the foreseeable future
Target Audience:
* Internet of Things (IoT) Assisted Medical Devices manufacturer & Internet of Things (IoT) Assisted Medical Devices Equipment Supplier
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
Research Methodology:
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and Modality trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.

The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Manufacturers
* Suppliers
* Distributors
* Raw Material Providers
* Government Body & Associations
* Research Institutes

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