Astute Analytica published a new report on the Internet of Medical Things Market. The research report comprehends the present status of competitive market conditions, which helps firms to make the necessary decisions for growth or profitability with ease.

The Global Internet of Medical Things Market is projected to grow at a significant CAGR of close to 26% during the forecast period 2021 to 2027. The revenue generated by the market globally in the year 2020 exceeded US$ 60 Bn.

This report also formulates a survey addressing small variables applicable specifically to new applicants as well as major concerns impacting all players in this field generally.

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Leading Players

Major competitors of the market include 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.

The healthcare sector is one of the most lucrative globally. Higher-quality general healthcare, an increase in life expectancy, and increased interest in business since the pandemic’s start are projected to improve spending and industry growth in the years to come. As a result, the healthcare industry’s revenue in 2023 is predicted to be US$ 73.90 billion.

For instance, contactless and virtual services are now commonplace. A focus on equitable care, an increase in new healthcare investments, and changes in the labor force have all occurred in recent years. Thus, these factors will bring new opportunities and difficulties. New digital tools will influence how care is delivered, how money is paid for it, and how health data are kept in the future as the healthcare landscape changes. Innovation, consolidation, and optimization will all continue to be fueled by capital entering the market.

In recent years, the global health business has experienced exponential growth, with the US setting the pace. The rise of the aging population, also known as the older population increase in sociology, was blamed for industry expansion. Most patients or those who receive services from the global health industry today are women.

By 2031, the global healthcare market will be worth $675.37 billion. Additionally, according to the Centers for Medicare and Medicaid Services, national healthcare spending in the US reached US$ 4.3 trillion in 2021, or US$ 12,914 per person, and is projected to rise to US$ 6.2 trillion by 2028.

The Commonwealth Fund estimates that the US spent close to 16.8% of its GDP on healthcare in 2019. Switzerland spent 11.3% more than Germany, which came in second place with a spending of 11.7%.

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Segmentation Overview

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

By Region:

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia & NZ
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • U.A.E.
    • Saudi Arabia
    • South Africa
    • Egypt
    • Rest of the Middle East & Africa

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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.

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