Global Internet of Medical Things (IoMT) Market Research and Forecast, 2018-2023

Date: January 18, 2019
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Publisher: Orion Market Research Private Limited
Report type: Strategic Report
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ID: G755C30E721EN
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Global Internet of Medical Things (IoMT) Market Research and Forecast, 2018-2023
Global Internet of Medical Things market (IoMT) is predicted to grow at a significantly high growth rate during the forecast period (2018-2023). In the medical device industry, major growth has been observed as IoT based medical technology has been adopted widely in developed economies. The IoMT is a collection of medical devices and applications connected to healthcare IT systems via online computer networks. Currently, the most IoT initiatives in the medical industry have been revolving around the improvement of patient’s health including remote monitoring and telemonitoring. Large adoption of electronic health records (EHR) has been the major factor driving market growth. In 2016, more than 95% of hospitals were eligible for the Medicare and Medicaid EHR Incentive Program to have achieved meaningful use of certified health IT. Additionally, the presence of major market players such as Philips and GE healthcare and increasing healthcare spending act as major motivators of growth of the market.

High costs of IoT based medical devices along with lack of skilled professionals towards IOT technology act as major restraints for the market growth. The reason behind the high cost is the requirement of the installation of software, hardware, training fees, networking infrastructure, & IT support. However, increasing technological advancement supported by start-ups and rising demand for point of care medical devices countries are expected to drive the market growth during the forecast period.

The IoMT market has been segmented into North America, Asia-Pacific, Europe and Rest of the World. North America has been predicted to dominate the global Interne IoMT market due to well-established healthcare infrastructure and IT industry. Additionally, Asia-Pacific is expected to be the fastest growing region during the forecast period owing to rising digitalization in the healthcare sector and increasing adoption of EHR in the emerging countries.

The key players in the IoMT market are Cisco Systems Inc., Honeywell International Inc., IBM Corporation, Microsoft Corporation, Philips N.V. and so forth. Merger & acquisition, R&D, partnership and collaboration, and product launch, are the key strategies adopted by market players across the globe. Philips is focused on the development of IoT enabled cardiac monitoring, remote patient communication devices, and sensor-related products, whereas GE Healthcare and Medtronic PLC are engaged in developing cloud-based technologies in existing monitoring devices and cardiac pacemakers.

RESEARCH METHODOLOGY

The market study of the internet of medical things market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. The numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analysts to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to get first-hand information. Primary research brings authenticity to our reports.

SECONDARY SOURCES INCLUDE
  • Financial reports of companies involved in the market
  • Whitepapers, research-papers and news blogs
  • Company websites and their product catalog
  • Supplier Websites such as Alibaba, Amazon for pricing analysis
The report is intended for healthcare providers, healthcare payers, research laboratories and individuals for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.

MARKET SEGMENTATION

Global internet of medical things market has been segmented on the basis of component, application and end user. On the basis of the component, the market can be further segmented into medical devices, systems & software and services. Additionally, IoMT market has been segmented on the basis of application into patient monitoring, telemedicine, connected imaging, drug development, fitness and wellness measurement, and others. Moreover, on the basis of end users, the market is segmented into healthcare providers, healthcare payers, research laboratories and individuals. Global internet of medical things market is bifurcated as follows:
  • Global IoMT Market Research and Analysis by Component
  • Global IoMT Market Research and Analysis by Application
  • Global IoMT Market Research and Analysis by End-Users
The report covers
  • Comprehensive research methodology of the global internet of medical things market.
  • This report also includes a detailed and extensive market overview with Analyst insights & key market trends.
  • An exhaustive Analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the global internet of medical things market.
  • Insights about market determinants which are stimulating the global internet of medical things market.
  • Detailed and extensive market segments with regional distribution of forecast revenues.
  • Extensive profiles and recent developments of market players.
1. REPORT SUMMARY

1.1. Research Methods and Tools
1.2. Market Breakdown
  1.2.1. By Segments
  1.2.2. By Geography
  1.2.3. By Stakeholders

2. MARKET OVERVIEW AND INSIGHTS

2.1. Definition
2.2. Analyst Insights & Current Market Trends
  2.2.1. Key Findings
  2.2.2. Recommendations
  2.2.3. Conclusion
2.3. Regulations

3. MARKET DETERMINANTS

3.1. Motivators
  3.1.1. High Adoption of Electronic Health Records
  3.1.2. Presence of Major Market Players such as Philips and GE Healthcare
  3.1.3. Increasing Digitization in Healthcare
  3.1.4. Increasing Healthcare spending
3.2. Restraints
  3.2.1. High Maintenance and Service Expenses
  3.2.2. Lack of Skilled Professionals
3.3. Opportunities
  3.3.1. Technological Advancement Supported by Healthcare Start-Ups
  3.3.2. Emerging Market in Developing Countries
  3.3.3. The Emergence of Point of Care Medical Devices

4. MARKET SEGMENTATION

4.1. Internet of Medical Things Market by Component
  4.1.1. Medical Devices
  4.1.2. Software and Solutions
  4.1.3. Services
    4.1.3.1. On-Premise Based Services
    4.1.3.2. Cloud-Based Services
4.2. Internet of Medical Things Market by Application
  4.2.1. Patient Monitoring
  4.2.2. Telemedicine
  4.2.3. Connected Imaging
  4.2.4. Drug Development
  4.2.5. Fitness and Wellness Measurement
  4.2.6. Others
4.3. Internet of Medical Things Market by End-User
  4.3.1. Hospitals and Clinics
  4.3.2. Research Institutes and Academics
  4.3.3. Homecare

5. COMPETITIVE LANDSCAPE

5.1. Key Strategy Analysis
5.2. Key Company Analysis

6. REGIONAL ANALYSIS

6.1. North America
  6.1.1. United States
  6.1.2. Canada
6.2. Europe
  6.2.1. United Kingdom
  6.2.2. France
  6.2.3. Germany
  6.2.4. Italy
  6.2.5. Spain
  6.2.6. Rest of Europe
6.3. Asia-Pacific
  6.3.1. China
  6.3.2. Japan
  6.3.3. India
  6.3.4. Rest of Asia-Pacific
6.4. Rest of the World

7. COMPANY PROFILES

7.1. Adheretech, LLC.
7.2. AliveCor, Inc.
7.3. Apple, Inc.
7.4. BioSerenity SAS
7.5. Carre Technologies, Inc.
7.6. CenTrak, Inc.
7.7. Chrono Therapeutics, Inc.
7.8. Cisco Systems, Inc.
7.9. Cue Health, Inc,
7.10. EarlySense, Ltd.
7.11. Evermind, Inc.
7.12. EyeNetra, Inc.
7.13. GE Healthcare
7.14. GlucoVista, Inc.
7.15. Google, LLC
7.16. Honeywell International, Inc.
7.17. IBM Corp.
7.18. InfoBionic, Inc.
7.19. iRhythm Technologies, Inc.
7.20. Kinsa, Inc.
7.21. Koninklijke Philips N.V.
7.22. MAD Apparel, Inc.
7.23. Mc10, Inc.
7.24. Medtronic PLC
7.25. Microsoft Corp.
7.26. NeuroSky, Inc.
7.27. Neurovigil, Inc.
7.28. Owlet Baby Care, Inc.
7.29. Qardio, Inc.
7.30. SAP SE

LIST OF TABLES

TABLE # 1 GLOBAL INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2017-2023($ MILLION)
TABLE # 2 GLOBAL MEDICAL DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 3 GLOBAL SYSTEMS & SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 4 GLOBAL SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 5 GLOBAL SERVICES MARKET RESEARCH AND ANALYSIS BY TYPE, 2017-2023 ($ MILLION)
TABLE # 6 GLOBAL ON-PREMISE BASED SERVICES MARKET RESEARCH AND ANALYSIS, 2017-2023 ($ MILLION)
TABLE # 7 GLOBAL CLOUD-BASED SERVICES MARKET RESEARCH AND ANALYSIS, 2017-2023 ($ MILLION)
TABLE # 8 GLOBAL INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2017-2023 ($ MILLION)
TABLE # 9 GLOBAL PATIENT MONITORING MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 10 GLOBAL TELEMEDICINE MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 11 GLOBAL CONNECTED IMAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 12 GLOBAL DRUG DEVELOPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 13 GLOBAL FITNESS AND WELLNESS MEASUREMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 14 GLOBAL OTHERS APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 15 GLOBAL INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 16 GLOBAL HOSPITALS AND CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 17 GLOBAL RESEARCH INSTITUTES AND ACADEMICS MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 18 GLOBAL HOMECARE MARKET RESEARCH AND ANALYSIS BY REGION, 2017-2023 ($ MILLION)
TABLE # 19 GLOBAL INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2017-2023($ MILLION)
TABLE # 20 NORTH AMERICAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2017-2023 ($ MILLION)
TABLE # 21 NORTH AMERICAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2017-2023 ($ MILLION)
TABLE # 22 NORTH AMERICAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 23 NORTH AMERICAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2017-2023 ($ MILLION)
TABLE # 24 EUROPEAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2017-2023 ($ MILLION)
TABLE # 25 EUROPEAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2017-2023 ($ MILLION)
TABLE # 26 EUROPEAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 27 EUROPEAN INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2017-2023 ($ MILLION)
TABLE # 28 ASIA-PACIFIC INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2017-2023 ($ MILLION)
TABLE # 29 ASIA-PACIFIC INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2017-2023 ($ MILLION)
TABLE # 30 ASIA-PACIFIC INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)
TABLE # 31 ASIA-PACIFIC INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2017-2023 ($ MILLION)
TABLE # 32 REST OF THE WORLD INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2017-2023 ($ MILLION)
TABLE # 33 REST OF THE WORLD INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2017-2023 ($ MILLION)
TABLE # 34 REST OF THE WORLD INTERNET OF MEDICAL THINGS MARKET RESEARCH AND ANALYSIS BY END-USER, 2017-2023 ($ MILLION)

LIST OF FIGURES

FIGURE # 1 GLOBAL INTERNET OF MEDICAL THINGS MARKET SHARE BY COMPONENT, 2017-2023 (%)
FIGURE # 2 GLOBAL INTERNET OF MEDICAL THINGS MARKET SHARE BY APPLICATION, 2017-2023 (%)
FIGURE # 3 GLOBAL INTERNET OF MEDICAL THINGS MARKET SHARE BY END-USER, 2017-2023 (%)
FIGURE # 4 GLOBAL INTERNET OF MEDICAL THINGS MARKET SHARE BY GEOGRAPHY, 2017-2023 (%)
FIGURE # 5 NORTH AMERICAN INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 6 UNITED STATES INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 7 CANADA INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 8 EUROPEAN INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 9 UK INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 10 GERMANY INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 11 SPAIN INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 12 FRANCE INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 13 ITALY INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 14 ROE INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 15 ASIA-PACIFIC INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 16 INDIA INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 17 CHINA INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 18 JAPAN INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 19 REST OF ASIA-PACIFIC INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
FIGURE # 20 REST OF THE WORLD INTERNET OF MEDICAL THINGS MARKET SIZE, 2017-2023 ($ MILLION)
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