DUBLIN--(BUSINESS WIRE)--The "Global Internet of Things (IoT) in Healthcare Market - Segmented by Type, Application, Component, End-users, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global Internet of Things (IoT) in the healthcare market is expected to register a CAGR of 28.6% during the forecast period (2018 - 2023). The emergence of big data in healthcare, increase in the adoption of information technology in the healthcare sector, need to reduce hospital re-admissions, and advancements in the field of information technology, are some of the other factors contributing to the growth of the market.
The high per capita expenditure on healthcare in developed regions, such as North America and Europe, is expected to increase further. According to a WHO report, in 2014, the United States spent 17.14% of GDP (which is an increase by approximately 2% from 2005) on healthcare, exclusively.
More than one-sixth of the GDP being spent on one sector shows the importance of that sector, but this also limits the resource for other developmental schemes. In countries, such as Germany and France, the expenditure on healthcare as a percentage of GDP, has increased by approximately 1% in the last decade. In Germany, healthcare expenditure increased from approximately USD 350 billion in 2007 to USD 437 billion in 2014, which is a 25% increase in just eight years. There is a need to contain the expenditure on healthcare and regular monitoring, as the costs are becoming too high.
To contain the expenditure on health, there is an urgent need to decrease the total cost of such regular monitoring. The overall cost of regular monitoring includes transportation cost, hospitalization cost, and service cost. These costs can be minimized or eliminated with the help of remote patient monitoring device, a healthcare IoT product. Remote patient monitoring device, as the name suggests, involves the monitoring of a patient from a different location. This eliminates the need for commuting to the hospital and the need for being hospitalized for less severe conditions. This need is driving the market for IoT.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
- International Business Machines Corporation (IBM)
- Intel Corporation
- Koninklijke Philips NV
- Proteus Digital Health Inc.
- Cisco Systems Inc.
- Microsoft Corporation
- GE Healthcare
10. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/jbg6hr/global_internet?w=4