The global Internet of Things (IoT) in Healthcare market size was USD 30.96 billion in 2018 and is projected to reach USD 176.82 billion by 2026, exhibiting a CAGR of 24.5% during the forecast period
IoT allows devices and operating machines to connect with one another and exchange data through the internet. With the increasing population, healthcare providers are facing challenges to reach patients in remote locations or in under-developed regions or countries. IoT functions to support the healthcare industry to automate patient workflow, connect mobility solutions and provide next-generation healthcare facilities. Over the past fifteen years, the healthcare industry has witnessed a significant shift from traditionally paper-based procedures to advanced technology processes such as remote monitoring patients and analyzing real-time patient data to provide appropriate health-related solutions.
Ongoing advancements, development of innovative technologies, and connectivity solutions have boosted the adoption of IoT in the healthcare industry. Furthermore, with the adoption of IoT, the integration of medical devices and surgery equipment has resulted in better diagnosis and treatments. This will further help patients to self-monitor health through wearable medical devices and to consult the doctors through connected applications directly.
Some of the prominent internet of thing in healthcare market trends include the introduction of redefined technology for patient care and well-being as well as offering enhanced patient experience with medical robots. Furthermore, the integration of artificial intelligence with IoT is expected to offer enhanced operational efficiency and advance solutions for healthcare processes. Such growing trends are likely to boost the global IoT in healthcare market revenue.
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