Medical IoT (Internet of Things) Market Outlook To 2024: Key Component Categories (Devices, Software, Service), Application (Patient Monitoring, Connected Imaging, Drug Development), End-Use (Research Laboratories, Government Authorities, Patients, Healthcare Providers), Regional Segmentation, Competitive Dynamics, M&A Insights, Pricing Analysis (IPP, OPP, RAP) And Segment Forecast

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The global medical Internet of Things (mIoT) market was valued at $43.0 billion in 2016 and is forecast to grow at a modest CAGR of 27.4% between 2017 and 2024, culminating to global revenue of $300.3 billion by 2024.

 

Industry at a Glance

 

The healthcare industry is one of the fastest to adopt the internet of things. Integration of IoT features in medical devices enhances the effectiveness and quality of service thereby bringing high value for the senior people, patients with chronic conditions, and those requiring regular supervision. Growing healthcare spending particularly on IoT solutions is expected to stimulate innovative and highly personalized, accessible, and on-time healthcare services to everyone.

 

As the healthcare system increasingly values efficiency and outcomes, IoT applications are changing MedTech strategy, business models, and operations. Additionally, the increasing emphasis on value-based care is changing financial incentives to a model wherein the providers are remunerated on the basis of how their patients fare instead of the number of visits, tests, or procedures performed.

 

Advancement of sensor technology is making the foundation of new data much easier. Cost-efficiency and performance drive the advancement and adoption of healthcare solutions primarily in hospitals. Further, technology is an enabler as well as a facilitator of extensive transformation in the industry, as the internet of health things permits digital healthcare to become an integrated part of everyone’s life.

 

Medical Internet of Things Market Outlook To 2024

 

Pricing Analysis

 

“Optimal Price Point (OPP) for Medical Internet of Things”

 

Estimated average medical internet of things cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

In striving to enhance outcomes and minimize costs, healthcare providers have long resisted with several nagging challenges primarily including their interactions with their patients which are random, giving them minute insight into the daily activities that have an enormous impact on the patient health. Increased support considerably promotes care plan adherence and enhances quality outcomes while minimizing costs through reduced hospital readmissions and visits.

 

Component Outlook

 

By component, the market has been segmented into devices, software, and service. Devices accounted for the majority market share in 2016 and are expected to witness substantial growth over the forecast period mainly on account of the growing penetration of smartphone and tablets primarily in developing economies of Asia, Latin America and the Middle East.

 

Application Insights

 

Based on application, the market is categorized into patient monitoring, connected imaging, and drug development. Among these, patient monitoring held the majority market share in 2016 which is ascribed to the increased focus by healthcare providers to take advantage of the benefits of novel technologies thereby generating a significant improvement in healthcare.

 

End-Use Insights

 

Based on end-use, the market is classified into research laboratories, government authorities, patients, and healthcare providers. Healthcare providers emerged as the dominant end-use segment in 2016 primarily attributing to the mounting adoption of m-health (mobile health) and e-health (healthcare supported by ICT) by healthcare providers to better manage patients and resources.

 

Regional Outlook

 

Based on region, the market is classified into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted for the majority market share in 2016 while Asia Pacific emerged as the fastest growing regional market over the forecast period. This is accredited to the growing smartphone and tablet penetration in the region along with rising consumer awareness regarding efficient healthcare services.

 

Growth Drivers & Restraints

 

Notable growth drivers residing in the global medical internet of things market include growing portable consumer electronics penetration, integration of IoT features in medical devices, the rise in the demand for cloud-based solutions, and escalating need to reduce healthcare cost.

 

Merger & Acquisition Outlook

 

The global medical internet of things market is characterized by extreme competition among some of the well-established players. Merger and acquisitions are seen as a vital part of the industry with a number of companies collaborating with each other in order to reduce competition and prevail in this highly competitive environment.

 

Top Players & Company Share

 

Leading industry players include Medtronic PLC, Qualcomm Life Inc., Royal Philips, IBM Corporation, GE Healthcare, Microsoft Corporation, Cisco Systems Inc., SAP SE, Honeywell Life Care Solutions, and Google. Industry participants focus on mergers and acquisitions as a key growth strategy in this industry.

 

Market Segmentation

 

Medical IoT Market, by Component (Revenue, USD Billion)

  • Devices
  • Software
  • Service

Medical IoT Market, by Application (Revenue, USD Billion)

  • Patient Monitoring
  • Connected Imaging
  • Drug Development
  • Others

Medical IoT Market, by End-Use (Revenue, USD Billion)

  • Research Laboratories
  • Government Authorities
  • Patients
  • Healthcare Providers
  • Others

Medical IoT Market, by Region (Revenue, USD Billion)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • UAE

Chapter 1 Methodology and Scope

  • Research Methodology
  • Research Scope & Assumptions
  • List of Data Sources

Chapter 2 Executive Summary

Chapter 3 Medical Internet of Things Overview

  • Market Ecosystem
  • Key Stakeholders
  • Industry Trends & Analysis

Chapter 4 Medical Internet of Things Industry Outlook

  • Market Overview
  • Market Segmentation
  • Market Size & Growth Prospects
  • Leading Brand Dynamics
  • Key Market Drivers
    • Growing portable consumer electronics penetration
    • Integration of IoT features in medical devices
    • Rise in the demand for cloud-based solutions
    • Escalating need to reduce healthcare cost
  • Key Market Challenges/ Restraints
    • Lack of governance
    • Incompetency in deploying IoT solutions
  • Major Trends &Issues
  • Penetration & Growth Prospects
  • Industry Analysis - Porter’s
  • Medical Internet of Things Market-PESTEL Analysis
  • Company Market Share/Heat Map Analysis

Chapter 5 Medical Internet of Things Market by Component (USD Billion)

Medical Internet of Things Market Landscape by Component – 2016 & 2024
  • Devices
    • Market Landscape Analysis, 2014-2024
  • Software
    • Market Landscape Analysis, 2014-2024
  • Services
    • Market Landscape Analysis, 2014-2024

Chapter 6 Medical Internet of Things Market by Application (USD Billion)

Medical Internet of Things Market Landscape by Application – 2016 & 2024
  • Patient Monitoring
    • Market Landscape Analysis, 2014-2024
  • Connected Imaging
    • Market Landscape Analysis, 2014-2024
  • Drug Development
    • Market Landscape Analysis, 2014-2024
  • Others
    • Market Landscape Analysis, 2014-2024

Chapter 7 Medical Internet of Things Market by End-Use (USD Billion)

Medical Internet of Things Market Landscape by End-Use – 2016 & 2024
  • Research Laboratories
    • Market Landscape Analysis, 2014-2024
  • Government Authorities
    • Market Landscape Analysis, 2014-2024
  • Patients
    • Market Landscape Analysis, 2014-2024
  • Healthcare Providers
    • Market Landscape Analysis, 2014-2024
  • Others
    • Market Landscape Analysis, 2014-2024

Chapter 8 Technology Trends

  • Technology Overview
  • Key R&D Trends
  • Market Impact

Chapter 9 Merger and Acquisition Outlook

  • Factors driving M&A in Medical Internet of Things market
  • Historic trends and future outlook
  • Average deal size by region

Chapter 10 Medical Internet of Things Market Outlook by Region (USD Billion)

Medical Internet of Things Market Landscape by Region – 2016 & 2024
  • North America Market Landscape Analysis, 2014-2024 (USD Bn)
    • U.S. Market Landscape Analysis, 2014-2024
    • Canada Market Landscape Analysis-2014-2024
  • Europe Market Landscape Analysis, 2014-2024 (USD Bn)
    • UK Market Landscape Analysis, 2014-2024
    • Germany Market Landscape Analysis, 2014-2024
    • France Market Landscape Analysis, 2014-2024
    • Italy Market Landscape Analysis, 2014-2024
    • Spain Market Landscape Analysis, 2014-2024
  • Latin America Market Landscape Analysis, 2014-2024 (USD Bn)
    • Brazil Market Landscape Analysis, 2014-2024
    • Mexico Market Landscape Analysis, 2014-2024
    • Colombia Market Landscape Analysis, 2014-2024
  • Asia Pacific Market Landscape Analysis, 2014-2024 (USD Bn)
    • Japan Market Landscape Analysis, 2014-2024
    • China Market Landscape Analysis, 2014-2024
    • India Market Landscape Analysis, 2014-2024
  • Middle East & Africa Market Landscape Analysis, 2014-2024 (USD Bn)
    • Saudi Arabia Market Landscape Analysis, 2014-2024
    • UAE Market Landscape Analysis, 2014-2024

Chapter 11 Pricing Analysis

Optimal Price Points (OPP), Indifference Price Points (IPP) and Range of Acceptable Prices (RAP) of leading brands and revenue estimation by Region- 2016
  • North America Pricing Analysis (OPP, IPP and RAP- 2016)
    • U.S. Pricing Analysis-2016
    • Canada Pricing Analysis-2016
  • Europe Pricing Analysis (OPP, IPP and RAP - 2016)
    • UK Pricing Analysis-2016
    • Germany Pricing Analysis-2016
    • France Pricing Analysis-2016
    • Italy Pricing Analysis-2016
    • Spain Pricing Analysis-2016
  • Latin America Pricing Analysis (OPP, IPP and RAP- 2016)
    • Brazil Pricing Analysis-2016
    • Mexico Pricing Analysis-2016
    • Colombia Pricing Analysis-2016
  • Asia Pacific Pricing Analysis (OPP, IPP and RAP- 2016)
    • Japan Pricing Analysis-2016
    • China Pricing Analysis-2016
    • India Pricing Analysis-2016
  • Middle East & Africa Pricing Analysis (OPP, IPP and RAP- 2016)
    • Saudi Arabia Pricing Analysis-2016
    • UAE Pricing Analysis-2016

Chapter 12 Competitive Landscape

  • Cisco Systems Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • GE Healthcare
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Google
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Honeywell Life Care Solutions
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • IBM Corporation
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Medtronic PLC
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Microsoft Corporation
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Qualcomm Life Inc.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Royal Philips
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • SAP SE
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  List of Tables
  • TABLE 1 Medical Internet of Things Market - Industry Snapshot & Key Buying Criteria, 2014 - 2024
  • TABLE 2 Global Medical Internet of Things Market, 2014 – 2024 (USD Billion)
  • TABLE 3Global Medical Internet of Things Market by Component, 2014 – 2024 (USD Billion)
  • TABLE 4Global Medical Internet of Things Market by Application, 2014 – 2024 (USD Billion)
  • TABLE 5Global Medical Internet of Things Market by End-Use, 2014 – 2024 (USD Billion)
  • TABLE 6Global Medical Internet of Things Market by Region, 2014 – 2024 (USD Billion)
  • TABLE 7Medical Internet of Things Market - Key Market Driver Analysis
  • TABLE 8Medical Internet of Things Market - Key Market Restraint/ Challenge Analysis
  • TABLE 9Medical Internet of Things Market – Key Opportunity Analysis
  • TABLE 10North America Medical Internet of Things Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 11 U.S. Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 12 Canada Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 13Europe Medical Internet of Things Market Landscape Analysis, 2014-2024(USD Billion)
  • TABLE 14 U.K Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 15Germany Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 16 France Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 17 Italy Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 18 Spain Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 19Latin America Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 20 Brazil Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 21 Mexico Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 22 Colombia Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 23Asia Pacific Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 24Japan Medical Internet of Things Market Landscape Analysis, 2014-2024(USD Billion)
  • TABLE 25 China Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 26 India Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 27 Middle East & Africa Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 28 Saudi Arabia Medical Internet of Things Market Landscape Analysis, 2014-2024(USD Billion)
  • TABLE 29 UAE Medical Internet of Things Market Landscape Analysis, 2014-2024 (USD Billion)
  • TABLE 30 North America Pricing Analysis
  • TABLE 31 North America Pricing Analysis (OPP, IPP and RAP- 2016)
  • TABLE 32 U.S. Pricing Analysis-2016
  • TABLE 33 Canada Pricing Analysis-2016
  • TABLE 34 Europe Pricing Analysis (OPP, IPP and RAP- 2016)
  • TABLE 35 U.K Pricing Analysis-2016
  • TABLE 36 Germany Pricing Analysis-2016
  • TABLE 37 France Pricing Analysis-2016
  • TABLE 38 Italy Pricing Analysis-2016
  • TABLE 39 Spain Pricing Analysis-2016
  • TABLE 40 Latin America Pricing Analysis (OPP, IPP and RAP- 2016)
  • TABLE 41 Brazil Pricing Analysis-2016
  • TABLE 42 Mexico Pricing Analysis-2016
  • TABLE 43 Colombia Pricing Analysis-2016
  • TABLE 44 Asia Pacific Pricing Analysis (OPP, IPP and RAP- 2016)
  • TABLE 45 Japan Pricing Analysis-2016
  • TABLE 46 China Pricing Analysis-2016
  • TABLE 47 India Pricing Analysis-2016
  • TABLE 48 Middle East & Africa Pricing Analysis (OPP, IPP and RAP- 2016)
  • TABLE 49 Saudi Arabia Pricing Analysis-2016
  • TABLE 50 UAE Pricing Analysis-2016
  List of Figures-
  • FIG. 1 Medical Internet of Things Market Segmentation
  • FIG. 2 Market Size & Growth Prospects
  • FIG. 3 Leading Brand Dynamics
  • FIG. 4 Penetration & Growth Prospects
  • FIG. 5 Industry Analysis – Porter’s
  • FIG. 6 Medical Internet of Things Market – PESTEL Analysis
  • FIG. 7 Medical Internet of Things Market Share by Component, 2016 & 2024
  • FIG. 8 Medical Internet of Things Market Share by Application, 2016 & 2024
  • FIG. 9 Medical Internet of Things Market Share by End-Use, 2016 & 2024
  • FIG. 10 Medical Internet of Things Market Share by Region, 2016 & 2024

Key Insights Addressed:  

  • Defining market size from 2014 to 2016.
  • Estimating market growth till 2024 and consequence market forecast.
  • Identifying market drivers, restraints & future opportunities and allowing decision-maker with a range of possible outcomes and the probabilities that will occur for any choice of action.
  • Market segments and regions that will drive or lead market growth.
  • Defining Optimal Price Point (OPP) which will be accepted and recommended by maximum customers.
  • A bird’s-eye view of the competitive landscape and the key market players.
  • Key strategic growth driver adopted by market players. In-depth analysis of their strategies and implication on competition & growth.
    Key Findings:    
  • The global medical Internet of Things (mIoT) market was valued at $43.0 billion in 2016 and is forecast to grow at a modest CAGR of 27.4% between 2017 and 2024, culminating to global revenue of $300.3 billion by 2024.
  • As the healthcare system increasingly values efficiency and outcomes, IoT applications are changing MedTech strategy, business models, and operations.
  • In striving to enhance outcomes and minimize costs, healthcare providers have long resisted with several nagging challenges primarily including their interactions with their patients which are random, giving them minute insight into the daily activities that have an enormous impact on the patient health.
  • Leading industry players include Medtronic PLC, Qualcomm Life Inc., Royal Philips, IBM Corporation, GE Healthcare, Microsoft Corporation, Cisco Systems Inc., SAP SE, Honeywell Life Care Solutions, and Google.

Ameri Research implies a unique methodology of published information and primary research to bring key insights to customer decision making process. Our analytics model helps us to understand the structured and unstructured information from various sources. Key steps involves in the process are as below-

  1. Analyzing Published Information- Access to large pool of paid and unpaid published information via different sources and analyzing market trend.
  2. Setting Foundation- Input from analysis of secondary sources set our foundation to market analysis and helps in setting the scope for further research. Setting the scope involves Ameri Research proprietary statistical model, discussion with industry leaders, internal brainstorming, key discussion pointers from various forums etc.
  3. Need Gap Analysis- Defining the gap between our scope and availability of information.
  4. KOL Panel Discussion- Focused Group Discussion with a structured discussion guide to fine tune the gap and deriving the factors driving/restraining the market trend.
  5. Quantitative Research- Sampling large number of industry players, Education/Research Institutes, Government bodies, NGOs, Individual acclaimed researchers and conducting the primary interview with a structured questionnaire.
  6. Data Triangulation- We apply bottom-up demand approach or top-down estimation or a combined approach to triangulate the data points.
  7. Analyst Comment- Each of our analysts carries large pool of experience from domain perspective and add their value which is directional in nature
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Description

The global medical Internet of Things (mIoT) market was valued at $43.0 billion in 2016 and is forecast to grow at a modest CAGR of 27.4% between 2017 and 2024, culminating to global revenue of $300.3 billion by 2024.

 

Industry at a Glance

 

The healthcare industry is one of the fastest to adopt the internet of things. Integration of IoT features in medical devices enhances the effectiveness and quality of service thereby bringing high value for the senior people, patients with chronic conditions, and those requiring regular supervision. Growing healthcare spending particularly on IoT solutions is expected to stimulate innovative and highly personalized, accessible, and on-time healthcare services to everyone.

 

As the healthcare system increasingly values efficiency and outcomes, IoT applications are changing MedTech strategy, business models, and operations. Additionally, the increasing emphasis on value-based care is changing financial incentives to a model wherein the providers are remunerated on the basis of how their patients fare instead of the number of visits, tests, or procedures performed.

 

Advancement of sensor technology is making the foundation of new data much easier. Cost-efficiency and performance drive the advancement and adoption of healthcare solutions primarily in hospitals. Further, technology is an enabler as well as a facilitator of extensive transformation in the industry, as the internet of health things permits digital healthcare to become an integrated part of everyone’s life.

 

Medical Internet of Things Market Outlook To 2024

 

Pricing Analysis

 

“Optimal Price Point (OPP) for Medical Internet of Things”

 

Estimated average medical internet of things cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.

 

In striving to enhance outcomes and minimize costs, healthcare providers have long resisted with several nagging challenges primarily including their interactions with their patients which are random, giving them minute insight into the daily activities that have an enormous impact on the patient health. Increased support considerably promotes care plan adherence and enhances quality outcomes while minimizing costs through reduced hospital readmissions and visits.

 

Component Outlook

 

By component, the market has been segmented into devices, software, and service. Devices accounted for the majority market share in 2016 and are expected to witness substantial growth over the forecast period mainly on account of the growing penetration of smartphone and tablets primarily in developing economies of Asia, Latin America and the Middle East.

 

Application Insights

 

Based on application, the market is categorized into patient monitoring, connected imaging, and drug development. Among these, patient monitoring held the majority market share in 2016 which is ascribed to the increased focus by healthcare providers to take advantage of the benefits of novel technologies thereby generating a significant improvement in healthcare.

 

End-Use Insights

 

Based on end-use, the market is classified into research laboratories, government authorities, patients, and healthcare providers. Healthcare providers emerged as the dominant end-use segment in 2016 primarily attributing to the mounting adoption of m-health (mobile health) and e-health (healthcare supported by ICT) by healthcare providers to better manage patients and resources.

 

Regional Outlook

 

Based on region, the market is classified into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted for the majority market share in 2016 while Asia Pacific emerged as the fastest growing regional market over the forecast period. This is accredited to the growing smartphone and tablet penetration in the region along with rising consumer awareness regarding efficient healthcare services.

 

Growth Drivers & Restraints

 

Notable growth drivers residing in the global medical internet of things market include growing portable consumer electronics penetration, integration of IoT features in medical devices, the rise in the demand for cloud-based solutions, and escalating need to reduce healthcare cost.

 

Merger & Acquisition Outlook

 

The global medical internet of things market is characterized by extreme competition among some of the well-established players. Merger and acquisitions are seen as a vital part of the industry with a number of companies collaborating with each other in order to reduce competition and prevail in this highly competitive environment.

 

Top Players & Company Share

 

Leading industry players include Medtronic PLC, Qualcomm Life Inc., Royal Philips, IBM Corporation, GE Healthcare, Microsoft Corporation, Cisco Systems Inc., SAP SE, Honeywell Life Care Solutions, and Google. Industry participants focus on mergers and acquisitions as a key growth strategy in this industry.

 

Market Segmentation

 

Medical IoT Market, by Component (Revenue, USD Billion)

  • Devices
  • Software
  • Service

Medical IoT Market, by Application (Revenue, USD Billion)

  • Patient Monitoring
  • Connected Imaging
  • Drug Development
  • Others

Medical IoT Market, by End-Use (Revenue, USD Billion)

  • Research Laboratories
  • Government Authorities
  • Patients
  • Healthcare Providers
  • Others

Medical IoT Market, by Region (Revenue, USD Billion)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • UAE

Additional information

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