A new report by Astute Analytica studies the Global Internet of Medical Things Market during the forecast period from 2021-2027 and provides a detailed overview of the sector. The global internet of medical things market is expected to be worth $60 billion in 2020. During the analysis period of 2021-2027, the market is anticipated to grow at a compound annual growth rate (CAGR) of 26%.
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This study on the Global Internet of Medical Things Market thoroughly examines the market's upcoming trends and industrial dynamics. The internet of medical things market research also includes analytical information such as market size, major trends, and key market players, and other growth prospects. This analysis report on the global internet of medical things market throws light on the data obtained from diverse sources, accompanied by the tools and techniques of SWOT analysis.
The purpose of a study report is to provide relevant information to the readers and helping them make business decisions. The broad documentation offers a variety of business insight and consulting services to assist clients in making future decisions and achieving long-term market success.
Key market trends such as technological advancement and competitor outlook are all mentioned in this analysis. Apart from that, the introduction of new technology and data on emerging trends is also added in the report. Five key forces that can influence the competitive environment include the introduction of new entrants in the industry, regional analysis, COVID-19 impact, availability of better substitute products/services, growing competitors, and their strategies.
The study would make it easier for new market players to assess the sector's potential and funding plans in the upcoming years. The report also looks at the goods, trends, and opportunities that may influence this market over the next several years.
Impact Analysis of COVID-19 on the Internet of Medical Things market
The COVID-19 virus was found in December and has already spread to practically every country. It has been labeled a public health emergency by the World Health Organization. The COVID-19 infection already has a significant impact on the market, and this will continue beyond 2021. More than 40 nations have declared states of emergency as a result of the COVID-19 epidemic.
The COVID-19 breakout since December 2019 has affected various nations. The business sector suffered heavy losses due to the decline in workers, lockdown, travel restrictions, and lack of raw materials. The impact of COVID-19 on the global internet of medical things market is discussed in the report. It contains a summarized discussion of initial impact, current situation, future impact, and expected recovery options.
Regional Outlook: The Internet of Medical Things Market
The internet of medical things market evaluates the growth of the market on the basis of regions. It explores factors like economic growth, social issues, technological developments, regional revenue, etc., of the top impacting regions.
The regions covered by the market are North America, Europe, Asia-Pacific, Middle East & Africa and South America
Scope of the Internet of Medical Things Market Report
The Internet of Medical Things Market is segmented into the following categories.
By Component:
- Hardware
- Software
- Services
By Type:
- On-body
- Wristbands
- Smart Garments
- Others
- In-hospital
- Asset management monitors
- Personnel management
- Patient flow management
- Inventory management
- Others
- In-home
- Personal Emergency Response Systems (PERS)
- Remote Patient Monitoring (RPM)
- Others
By Application:
- Mobility services
- Emergency response intelligence
- Kiosks
- Point of care
- Logistics
- Others
By Enterprise Size
- Small Enterprises
- Medium Enterprises
- Large Enterprises
By End-user:
- Hospitals
- Clinics
- Pharmaceuticals
- Laboratories
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Key Players: The Internet of Medical Things Market
The report also describes the working strategies and development of the prominent companies. This study also discusses the strategies of the players to outgrow the market competitors.
The global internet of medical things market report covers major market players:
Agamatrix, Armis, Robert Bosch GmbH, Capsule Technologies, Comarch SA, GE Healthcare, HQSoftware, OSP Labs, Microsoft Corporation, IBM Corporation, Softweb Solutions, Sciencesoft, Welch Allyn, Oxagile, Siemens AG, among others
About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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SOURCE Astute Analytica
Global Internet-of-Medical-Things (IoMT) market is expected to register a CAGR of 38.67% in the forecast period of 2019–2026.
The report contains data from the base year of 2018 and the historic year of 2017.
This rise in market value can be attributed to the efficiency of resources and available infrastructure due to the usage of IoMT.
Internet- of- Medical- Things (IoMT) is a specific category of applications of the Internet of Things for healthcare services.
This technology enables the interconnectivity of medical devices over a common network which results in exchange of valuable patient information helping in better delivery of healthcare services.
IoMT involves designing of specified health solutions depending on the data collected through wearable medical devices.Market Restraints· Concerns regarding privacy of data amid growing levels of hacking and unauthorized access; this factor is expected to restrain the market growth· Concerns associated with the lack of infrastructure and requirement of skilled professionals; this factor is expected to restrain the growth of the marketMarket Drivers· Increasing adoption of wearable devices and real-time healthcare service provision with the adoption of IoMT; this factor is expected to drive the market growth· Cutback on expenditure incurred by patients due to a reduction of visitation to the physician, as IoMT helps in continuous monitoring of health in individualsSegmentation: Global Internet-of-Medical-Things (IoMT) MarketGlobal Internet-of-Medical-Things (IoMT) Market By Product Type (Smart Wearable Devices, Home-Use Medical Devices, Point-Of-Care Kits), Services (On-Premise Based Services, Cloud-Based Services)Application (Real-Time Monitoring, End-to-End Connectivity, Data Assortment & Analysis, Tracking & Alerts, Remote Medical Assistance),End-User (Hospitals & Clinics, Research Institutes & Academics, Homecare) , Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) — Industry Trends & Forecast to 2026For More information visit @ https://databridgemarketresearch.com/reports/global-internet-of-medical-things-iomt-marketKey Market Competitors:Few of the major competitors currently working in the global Internet-of-Medical-Things (IoMT) market are LifeFuels Inc.; GENERAL ELECTRIC COMPANY; CARRÉ TECHNOLOGIES INC.; Breathometer Inc.; Medtronic; Meru Health, Inc.; Boston Scientific Corporation; Atlas Wearables, Inc.; Proteus Digital Health; NeuroMetrix, Inc.; Honeywell International Inc.; VitalConnect; Ekso Bionics; BL Healthcare, Inc; BioSerenity; Preventice Solutions, Inc.; Lenovo; Vitls Inc.; AliveCor, Inc. and Chrono Therapeutics Inc.Competitive Analysis:Global Internet-of-Medical-Things (IoMT) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The global internet of medical things (IoMT) market size is anticipated to reach USD 142.45 billion by 2026, with a CAGR of 28.9%, on account of the increasing prevalence of chronic diseases.
This, coupled with the improving healthcare infrastructure and facilities worldwide, is primarily contributing to the growth of the market.
Internet of medical things consists of a system of interrelated devices that are either connected to each other or with an external network.
These devices are capable of sharing information amongst themselves with the help of internet connectivity.
The advent of technological advancement in medical devices, coupled with the rise in disposable incomes of people, is anticipated to help increase the popularity of smart medical devices, ultimately boosting the Internet of Medical Things market growth.Increasing Awareness about Advantages of Smart Healthcare Products to Drive MarketThe Internet of medical things offers various advantages such as real-time monitoring, improved drug management, improved patient outcomes, and a reduction in medical expenditure.
Besides this, the improved efficiencies of smart healthcare devices, coupled with the rise in research and development of advanced devices and rise in awareness about them, are expected to attract high revenues during the forecast duration.
Astute Analytica published a new report deciphering the Global Internet of Medical Things Market, the report provides detailed analysis and meaningful insights of important aspects required to shape the growth of the market.
It unmasked the prominent growth drivers, restraint factors, challenges, opportunity analysis, and trends, along with other indispensable factors including the geographical outlook, current and prospective scenario of competitive landscape and market vendors.
The report also contains a detailed analysis of market size and segmentation along with determinants representing the dominating segments.Request a Sample of this report @ https://www.astuteanalytica.com/request-sample/internet-of-medical-things-marketThe global Internet of Medical Things market is expected to reach at a remarkable value and to grow at a considerable CAGR of 26% over the forecast period 2021-2027.
In the past years, the market has shown a significant growth rate and is projected to display a profitable growth in the upcoming years.
The major companies profiled in the Internet of Medical Things Market include names of key players among other prominent players.
These players have adopted various business strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain and maintain a strong base within the industry.The coronavirus or COVID-19 medical emergency broke out in December 2019, which has been imposed worldwide.
