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The Healthcare IoT Market to be at its crescendo between 2020 and 2030

Cloud computing in healthcare streamlines back office operations, which, in turn, helps faster diagnosis of problems. It also allows medical information to be easily shared with doctors, who can then prepare a treatment plan according to the patient’s needs. Integrated healthcare information systems with cloud computing can improve healthcare quality by facilitating clinical decision-making, and enhance patient safety by using automated systems. In addition, the system also allows physicians to easily access a patient’s information, such as diagnosis, allergies, lab results, and medication, and, in turn, provide effective treatment. Moreover, these results can be obtained at low costs. Increasing need for better and effective healthcare facilities at affordable costs is driving demand for healthcare IoT solutions and services, thereby pushing the growth of the healthcare IoT market across the globe.

The global healthcare IoT market is anticipated to rapidly grow 19% annually through the period of 2020 to 2030, as healthcare IoT serves as the best solution to reduce the cost of healthcare services.

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Key Takeaways from Healthcare IoT Market Study

  • Significant growth in wearable devices is expected to lead to greater opportunities for the integration of IoT sensors in the healthcare industry, to develop smarter wearable devices for patient monitoring and diagnostic purposes.
  • Timely advancements in information and communication technology in the healthcare sector are expected to enable IoT-based medical solutions such as telemedicine & home medical care to reach their true potential in ensuring improved healthcare.
  • Increasing requirement for the building of automation for clinical efficiency is boosting demand for smart healthcare devices and other related solutions, which is another crucial parameter for the growth of the healthcare IoT market.
  • Due to stringent regulations imposed by governments, manufacturers are supplying safe, accurate, and smart equipment to end users.
  • During the ongoing COVID-19 pandemic, use of applications such as Covidom is gaining popularity among healthcare professionals and non-critical patients. Such applications help non-critical patients quarantine at home and relieve their paranoia by facilitating real-time communication with healthcare professionals.

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“Treatment and therapy procedures are likely to be more effective during the earlier stages of health diagnosis. IoT sensors facilitate real-time data analysis that helps diagnose the symptoms of various diseases before it is too late, thus aiding timely intervention and proactive treatment for the patient. This helps ensure proper treatment outcomes, which is estimated to propel the global healthcare IoT market to greater heights,” says a PMR analyst.

Find More Valuable Insights on Healthcare IoT Market

Persistence Market Research puts forward an unbiased analysis of the global Healthcare IoT market, providing historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. To understand the opportunities in the healthcare IoT market, it has segmented on the basis of component (devices, software, and services), application (remote patient monitoring, diagnostics, disease management, telemedicine, and others), and end user (hospitals & clinics, diagnostic centers, rehabilitation centers, health insurance companies, and others), across seven major regions.

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