Fascinating IoT Healthcare Market Tactics That Can Help Your Business Grow

(IT-NEWSWIRE.COM, July 20, 2017 ) The report "IoT Healthcare Market by Components (Medical Device, System and Software, Service, and Connectivity Technology), Application (Telemedicine, Workflow Management, Connected Imaging, Medication Management), End-User - Global Forecast to 2020", the global IoT in healthcare market is expected to grow from USD 32.47 Billion in 2015 to USD 163.24 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 38.1% during the forecast period. In the current scenario, North America is expected to be the largest market on the basis of market size and technological advancements.

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The IoT in healthcare terminology is used to define the implementation of the IoT-based technology solutions and associated services into the various applications healthcare sector. The solutions are primarily aimed at achieving the integration of connected medical devices and intelligent data analysis to enhance the operational efficiency of healthcare organizations. It also improvises the healthcare outcomes with reduced cost of care, using efficient tools and techniques. It imparts benefits to the various end-to-end needs, such as real-time patient engagement, remote monitoring, chronic disease management, inpatient monitoring, medication management, efficient clinical operations, and workflow management.

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The evolution of high speed networking technologies in healthcare organizations and the rise in demand for remote patient monitoring across the world are expected to drive the IoT in healthcare market in the coming years. Patient data security and privacy is one of the challenges currently faced by healthcare organizations. As a result, solution providers are shifting focus towards IoT security solutions to safeguard the connected devices and patient data generated using those devices. IoT-based solutions are further enabling companies to increase operational efficiency. Innovation in next generation sensors is another major factor driving the IoT in healthcare market. However, insufficient IoT technology skills and lack of governance standards act as restraining growth factors of the market.

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Fascinating IoT Healthcare Market Tactics That Can Help Your Business Grow