IoT medical devices market expected to hit USD 161.73B

Emergen Research published a report, titled, ” IoT medical devices market by product (Vital signs monitoring devices), by type (Wearable medical devices, implantable medical devices, stationary mmedical devices), by connectivity technology (Bluetooth, Wi-Fi, ZigBee), by end user (Hospitals and clinics), and by region, forecasts to 2027″ The global IoT medical devices market is forecasted to be worth USD 161.73 Billion by 2027, according to a current analysis by Emergen Research.

Technological advancement and rise in the geriatric population, along with the growth in the persistent disease, are impacting the demand for the IoT medical devices market. Moreover, the reduction in the duration of room stay has further fuelled the demand for the IoT medical devices market. Market players are initiating novel and innovative software programs to address market issues.The proliferation of IoT in medical devices has enhanced functional efficiency, allowing improved disease management and treatment outcomes. A surge in investment by the hospitals for the adoption of advanced technology in both developing and developed regions will fuel IoT Medical Devices market demand. The increasing focus on active patient-centric care and patient engagement, the surging need for the adoption of cost-control measures, and the growth of high-speed network technologies for IoT connectivity in the healthcare sector.

The global market landscape of IoT medical devices is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.

What are the factors driving the IoT medical devices market?
Advancements in Healthcare Technology: The continuous advancements in healthcare technology, especially in the field of the Internet of Things (IoT), have led to the development of innovative medical devices with IoT capabilities. These devices offer enhanced connectivity, data collection, and remote monitoring, contributing to better patient care and outcomes.

Improved patient monitoring and management: IoT medical devices enable real-time monitoring of patients’ vital signs and health parameters. This remote monitoring facilitates timely interventions, reduces hospital visits, and enhances patient management, particularly for those with chronic conditions.

Some key highlights from the report
The high-tech pacemakers have several benefits, especially among those patients who intensive control and constant check of their health. These machines are not always active, but the connections are used to configure and set the parameters of the devices to monitor their activity remotely.

The wearable medical technologies growth is being propelled due to a rise in the demand of consumers to monitor their own health. These technologies enable the continuous monitor of human physical activities and their blood pressure, heart rate, and body temperature, as well as blood oxygen saturation.

NFC or near field communications ensure better communications among the healthcare staff and enable them to remain updated with real-time updates. It also allows users to communicate by touching or bringing their devices close to each other. It helps caretakers in tracking their patient’s activities.

North America is a major revenue-generating region in the IoT medical devices market. The advancement in technology and its incorporation in medical devices has fuelled its market demand, especially in remote care. IoT in medical devices has improved the quality of care in hospitals.

Key participants include GE Healthcare, Medtronic, Abbott Laboratories, Siemens, Johnson & Johnson, Boston Scientific, Philips Healthcare, Honeywell Life Care Solutions, Omron, and Biotronik, among others.

IoT medical devices market segmentation:
In this report, the global IoT Medical Devices Market has been segmented by Emergen Research based on product, type, connectivity technology, end-user, and region.

The Product segment encompasses a wide range of medical devices equipped with IoT capabilities. These devices include Vital Signs Monitoring Devices such as Blood Pressure Monitors, Blood Glucose Monitors, ECG/Heart Rate Monitors, Oximeters, Multiparameter Monitors, Respiratory Devices, Fetal Monitoring Devices, Neurological Devices, Implantable Cardiac Devices, Implantable Cardioverter Defibrillators, Implantable Cardiac Monitors, Pacemakers, Hearing Devices, Anesthesia Machines, Patient Monitors, Ventilators, Imaging Systems, Infusion Pumps, and Other Products

The type segment classifies IoT medical devices into Wearable medical devices, implantable medical devices, stationary medical devices, and other IoT medical devices.

The connectivity technology segment involves the different technologies used for connectivity in IoT medical devices. These technologies include Bluetooth, Wi-Fi, ZigBee, Near Field Communication (NFC), and Other Connectivity Technologies. Each of these connectivity options enables seamless data transmission between medical devices and healthcare systems for real-time monitoring and analysis.

The end-user segment categorizes users of IoT medical devices into hospitals & clinics, nursing homes, Assisted living facilities, long-term care centers, home care settings, and other end users. Hospitals and clinics widely adopt IoT medical devices to enhance patient care and optimize healthcare workflows. Nursing homes, assisted living facilities, and long-term care centers use these devices to monitor patients’ health status continuously. Home care settings benefit from remote monitoring solutions that enable patients to receive medical attention while residing at home. Other End Users refer to various healthcare facilities and settings utilizing IoT medical devices. Emergen Research