Europe IoT Healthcare Market is segmented By Component (Medical Devices, Systems and Software, and Services), By Application (Telemedicine, Clinical Operations and workflow management, Inpatient Monitoring, Connected Imaging, Medication Management, Others), By End User (Hospitals and Clinics, Clinical Research Organizations, Research and Diagnostic Laboratories), and By Country (UK, France, Spain, Germany, Rest of Europe) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Europe IoT Healthcare Market Overview
The Europe IoT Healthcare Market is expected to grow at a CAGR of 25.4% during the forecast period 2023-2030.
IoT (Internet of Things) in healthcare refers to the use of connected devices and sensors to gather and transmit data among healthcare practitioners, patients, and medical devices. The objective is to improve healthcare delivery while also increasing patient participation and satisfaction and improving overall results. IoT monitors patient health in real-time in the healthcare industry, assisting in the improvement of telehealth infrastructure and bridging the gap between digital and physical data.
IoT helps healthcare providers improve patient care, manage personnel, and comply with laws. IoT-connected devices have allowed remote monitoring in the healthcare business. The Internet of Things (IoT) is redefining healthcare by altering how gadgets and people interact while giving healthcare solutions. IoT applications in healthcare benefit patients, families, physicians, hospitals, and insurance companies.
Europe IoT Healthcare Market Scope and Summary
|
Metrics |
Details |
|
CAGR |
25.4% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
|
Segments Covered |
Component, Application, and End User |
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Countries Covered |
UK, France, Spain, Germany, Rest of Europe |
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Largest Country |
UK |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Europe IoT Healthcare Market Drivers
Growing Technological Advancements Drive the Market Growth
Rapid technological advancements and an increase in chronic disease patients as a result of changing lifestyles are key drivers of market growth, while favourable regulatory policies for healthcare digitalization, as well as an increase in acceptance of cost-effective IoT solutions and rising demand for effective disease management, will fuel market growth. The increasing usage of IoT devices such as smartphones, tablets, and other mobile devices in hospitals and clinics is seamlessly coupled with medical equipment to give real-time patient health monitoring.
The rising prevalence of chronic illnesses such as inherited ailments, more access to high-speed internet, and the implementation of favourable government rules are some of the primary factors driving Internet of Things development in the healthcare industry. Furthermore, the increased use of wearable technology, investments in digital technology deployment in healthcare institutions, and the introduction of connected care all contribute to the growth of Europe's IoT Healthcare market.
Europe IoT Healthcare Market Growth Opportunities
Government Initiatives to Improve Healthcare Infrastructure Provides Lucrative Opportunities
Government backing for IoT systems, as well as attempts to enhance healthcare infrastructure, will provide appealing market potential. There is a rising demand for cost-effective treatment and disease management, higher adoption of smart devices and wearables, increased interest in self-health monitoring, and lower healthcare expenses with sophisticated and cost-effective IoT in healthcare products and solutions.
Moreover, rising demand for price measures in the healthcare sector, the development of high-speed network technologies for IoT connection, and a growing emphasis on patient-centric service delivery via multiple channels are some of the major drivers expected to accelerate the growth rate of the European IoT healthcare market in the coming years.
Europe IoT Healthcare Market Segmentation Analysis
The Europe IoT healthcare market is segmented by component, application, and end user.
The medical devices segment is estimated to account for the majority of IoT in the healthcare industry by 2023. IoT-enabled medical devices collect data and create reports using gadgets that instantaneously upload data to a cloud database, allowing clinicians to see patterns or detect warning indications sooner than ever before and enhancing diagnostic accuracy. Access to patient data allows for more effective expert cooperation, enabling patients to obtain the treatment they need on time. This segment has the most significant share because IoT in medical equipment enables improved patient care.
Europe IoT Healthcare Market Regional Insights
By region, the Europe IoT healthcare market is segmented into UK, France, Spain, Germany, Rest of Europe.
Germany and the United Kingdom are likely to have significant market growth due to significant competitors and a rise in people with chronic illnesses such as COPD, respiratory diseases, disorders, and others. Furthermore, as individuals become more concerned about fitness and health, the need for self-health management systems is increasing. Consequently, demand for a wide range of medical wearable devices has increased throughout the area, as people can now easily access and monitor their health at any time.
Moreover, the research and development efforts conducted in these two nations are widely recognized and are expected to drive market expansion.
Market Leaders of Europe IoT Healthcare Market
- 3M
- Cardinal Health
- Medline Industries
- Ansell ltd.
- AMD Medicom
- Alpha Pro Tech
- Medisca Inc.
