Infinium Global Research Internet of Things (IoT) in the Healthcare Sector | Page 9

Internet of Things (IoT) in the Healthcare Sector Market: Global Industry Analysis, Trends,
Market Size and Forecasts up to 2023
enabled medical ID bracelet, medical jewelry are enabling transmission of vital medical data
form patient’s location to the medical staff in real time. Gradually, internet of things
startups are finding new applications within healthcare and leveraging connected sensors
to better diagnose, monitor, and manage patients and treatment. Many companies are
focused on clinical-grade wearables to more robustly track patient data, while others see
opportunity for sensor networks within hospitals and practices to optimize healthcare
delivery and monitor patient adherence. Lack of government and regulatory body’s
support, safety of patients, privacy issues, design encounters, and huge amount of patient’s
data, which is a big challenge for hospital IT to manage, are some of the key restraining
factors that could hinder the market growth.
The leading players in the global internet of things in the healthcare sector market include
Cisco Systems, Medtronic, IBM Corporation, GE Healthcare, Microsoft Corporation,
Honeywell Life Care Solutions, Koninklijke Philips N.V., andApple Inc.
GLOBAL INTERNET OF THINGS IN THE HEALTHCARE SECTOR MARKET MARKET, 2015 – 2023
(USD MILLION)
2015
2016
2017
2018
2019
2020
2021
2022
2023
Value
Internet of things in the healthcare sector market is expected to experience rapid growth
globally. However, the market size in terms of value is expected to grow at a higher rate
due to the efficient remote health monitoring, reduction of patient’s hospital stay,
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