LONDON, Nov. 04, 2020 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the IoT healthcare equipment market, a major IoT medical devices market trend includes technological advances in electronics and wireless communications enabling the development of small, intelligent and cost-effective medical sensor nodes. These nodes are strategically placed on a patient's body to create a wireless medical body area network (MBAN). In some cases, sensors may be swallowed for short-term monitoring or placed in the body during surgery for monitoring physical parameters during and after the healing period. This network can continuously monitor various physiological signs and provide real-time feedback to the user and medical staff through SMS/E-mail. MBANs are particularly useful in large-scale in-field medical and behavioral studies and for patient monitoring.
In general, IoT healthcare devices are used for remote monitoring of parameters such as blood pressure, heart rate, to provide real-time data of vital signs and to provide alerts in case of emergency. They are also used to regulate drug delivery with the help of continuous monitors. For example, insulin pumps continuously monitor glucose levels and deliver insulin when required in diabetic patients. Patient diagnosis is carried out with the help of IoT enabled medical equipment such as ECGs, X-rays, CTs, MRIs and ultrasound. Besides drug delivery, IoT devices are also used during drug discovery to improve clinical trial efficiency through faster data collection and quality.
The Business Research Company’s report titled IoT Enabled Healthcare Equipment Market - By Type (Diagnostic Equipment, Implanted Devices, Wearable Devices), By Country, By Company Profiles, And By Region, Opportunities And Strategies – Global Forecast To 2030 covers major IoT-enabled healthcare equipment companies, IoT-enabled healthcare equipment market share by company, IoT-enabled healthcare equipment manufacturers, IoT-enabled healthcare devices market size, and IoT-enabled healthcare devices market forecasts. The report also covers the global IoT-enabled healthcare equipment market and its segments.
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The Internet of Things in healthcare market size is expected to grow at a rate of 29.9% to nearly $69.7 billion by 2023. This growth is mainly due to increasing access to these devices through online platforms and a rapid decline in their prices owing to manufacturers passing on a significant drop in the prices of components. Increasing awareness of the benefits of these devices will also contribute to explosive growth.
The IoT healthcare devices market is expected to be driven by digitization during the forecast period. Medical devices companies are transforming from device or consumable providers to disease and care management organizations. Digitization in acute or chronic care is greatly aided by IoT-enabled medical devices such as subcutaneous drug delivery units, continuous glucose monitors and vitals monitoring equipment. The emergence of digital enterprises such as Google and Apple in the consumer health space has led to development of new opportunities and innovations for medical devices companies, with a recent example being the new Apple Watch, consisting of two FDA-approved Apple electrocardiogram apps which can monitor atrial fibrillation and also detect unusual heart rates. Thus, the IoT healthcare devices market is gaining increasing funding and investment for the research and development of new connected medical devices from various sources, and a number of pharmaceutical companies are also investing in digital health technologies.
IoT Enabled Healthcare Equipment Market - By Type (Diagnostic Equipment, Implanted Devices, Wearable Devices), By Country, By Company Profiles, And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and healthcare devices forecast market size and growth for the whole market, segments and geographies, healthcare devices trends, medical device market drives drivers, medical devices market restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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