The global IoT sensor in healthcare market was valued at US$ 2,208.9 MN in 2017 and is expected to expand at a CAGR of 12.2% during the forecast period (2018–2026) according to a report published by Persistence Market Research.
The demand for IoT sensors in healthcare is expected to be driven by improvements in patient engagement, increased accuracy in data analysis, enhanced disease management and treatment results, and reduction in treatment costs.
The report further divulges that privacy concerns and adherence to standard regulations, and varying communication protocols in different IoT sensors in healthcare equipment, hinder the growth.
Some of the recent trends that were forecasted are the focus on the implementation of AI and IoT technologies, and the increasing demand for wearable devices.
Among the regions, North America was the largest market which accounted for over 21.0% of the market share in 2017. Also, the market in SEA excluding China and Japan are expected to increase.
The global IoT sensors in healthcare market are categorized on the basis of application, end-user, and region. On the basis of application, the market is segmented into patient monitoring, diagnostics, clinical efficiency, and other applications. The patient monitoring segment is expected to register a CAGR of 13.5% during the forecast period. By end-user, the global IoT sensors in healthcare market are segmented into hospitals, CROs, rehabilitation centers, and other end users.
Some of the top companies identified are STMicroelectronics, Koninklijke Philips, General Electric Company, Siemens AG, Texas Instruments Incorporated, TE Connectivity, Honeywell International Inc, PAREXEL International Corporation, Analog Devices, Inc, and Proteus Digital Health, among others.
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