North America 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 (US, Canada, Rest of North America) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
North America IoT Healthcare Market Overview
The North America IoT Healthcare Market is expected to grow at a CAGR of 27.9% during the forecast period 2024-2031
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.
North America IoT Healthcare Market Scope
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Metrics |
Details |
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CAGR |
27.9% |
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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$) |
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Segments Covered |
Component, Application, End-User, and Country |
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Countries Covered |
US, Canada, Rest of North America |
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Largest Country |
United States |
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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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North America IoT Healthcare Market Drivers
Increasing health concerns, along with an increase in healthcare spending, have been critical factors in the growth of the IoT Healthcare market in the North American area. As a result of the Covid-19 pandemic, there has been an increase in demand for PPE kits and masks throughout the United States. This has resulted in a huge increase in the market in this region. In addition, IoT Healthcare is widely used by end-users such as hospitals and medical facilities. Government laws focused on personal protection are another element influencing the growth of business in this region.
North America IoT Healthcare Market Segmentation Analysis
The North America IoT healthcare market is segmented by component, application, and end user.
As a consequence of the rising popularity of telemedicine, the market is likely to rise steadily throughout the forecast period. Several factors contribute to this increase, including increased demand for remote healthcare services, accelerated telemedicine adoption as a result of the COVID-19 pandemic, increased need for remote patient monitoring and chronic disease management, and the potential cost savings and operational efficiency associated with telemedicine implementation.
Many companies and individuals are adopting this telemedicine platform, and numerous small firms are offering telemedicine products or services. For example, Malaysian health technology firm Qmed Asia launched its Qmed GO telehealth kiosk in August 2022. This kiosk functions as a "mini-clinic," providing remote internet health consultations and diagnoses done by licensed general practitioners.
Qmed GO comes with cloud-connected medical IoT devices that can monitor up to 16 key parameters in real-time. These devices' data may be viewed through the Qmed patient app and the employer reference dashboard. Qmed GO also gives you safe access to your medical information and prescription delivery services. As a result of the aforementioned reasons, the telemedicine segment is predicted to develop throughout the forecast period.
North America IoT Healthcare Market Geographical Share
Regionally, North America IoT Healthcare is segmented into US, Canada, Mexico, and Rest of North America.
The United States has the largest North American IoT Healthcare Market share. This is due to the industry's sophisticated infrastructure and high costs.
The Canadian IoT Healthcare industry has also taken the healthcare sector seriously, giving free healthcare to residents; they have enhanced the current protective equipment industry by growing demand and preserving supply chain equilibrium. The Canadian market is estimated to increase at an 8% CAGR during the projection period.
North America IoT Healthcare Market Companies
Major market players contributing to the growth of North America IoT Healthcare Market include 3M, Cardinal Health, Medline Industries, Ansell Ltd., AMD Medic, Alpha Pro Tech, and Medisca Inc.
