IoT Medical Devices Market Dynamics

The IoT medical devices market has been segmented by product, type, connectivity technology, end user, and region. Based on product, the vital signs monitoring segment is expected to grow at the fastest CAGR during the forecast period. This is due to the growing geriatric population and the consequent rise in the prevalence of chronic diseases.

Drivers :

1 Government Initiatives for Promoting Digital Health
2 Growing Need for Cost-Containment in Healthcare Delivery
3 Rising Focus on Active Patient Engagement and Patient-Centric Care Delivery
4 Evolution of High-Speed Networking Technologies and Increasing Penetration of Smartphones, Tablets, and Other Mobile Platforms in Healthcare
5 Growing Focus on Patient Safety

Restraints:
1 High Deployment Cost of Connected Medical Devices and the Associated Infrastructure
2 Insufficient IoT Technology Skills Across Healthcare Organizations

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Opportunities:
1 Low Doctor-To-Patient Ratio Leading to Increased Dependency on Self-Operated Ehealth Platforms

Challenges:
1 Issues Related to Data Security
2 Issues Related to Data Management and Interoperability

Industry Trends:
1 Increasing Number of Product Launches
2 Growing Integration of Cloud Platforms and Saas in the Healthcare Ecosystem
3 Increasing Number of Collaborations to Drive Innovation