The global Internet-of-Things (IoT) in healthcare market size is expected to reach USD 534.3 billion by 2025, expanding at a CAGR of 20.2 percent, predicts Grand View Research. The market is majorly driven by growing adoption of healthcare information systems, rising initiatives supporting connected health, and ongoing trend of remote patient monitoring. Rising adoption of smart wearables for health monitoring and self-assessment is also positively impacting the market. Global healthcare providers are transforming themselves into patient-centric and connected and coordinated entities to create an integrated ecosystem.
Rising adoption of IoT in healthcare systems ensures improved treatment outcomes, reduced costs and errors, improved patient experience, and lessening time of disease management with real-time data monitoring. Thus, demand for IoT solutions is increasing globally in order to manage various operations in healthcare. Technological advancements and subsequent new product launches by market players is also boosting the IoT in healthcare market. GE Healthcare, Koninklijke Philips N.V., and Cisco Systems are among the major players undertaking new product launches in the field. Growing initiatives supporting the adoption of eHealth and digital technologies are also some of the key factors boosting the market.