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  • 8 May 2019 23:56

Internet of Things (IOT) Healthcare Market On The Rise

The world IoT in healthcare market is anticipated to grow at a significant pace, owing to easy availability of wearable smart devices, increasing need for stringent regulations and decreasing cost of sensor technology.

Furthermore, the launch of technologically advanced devices (smart shirts, smart lenses, smart bands and others) and analytics software, rising incidence rates of chronic diseases, surging demand for cost-effective treatment and disease management, better accessibility of high speed internet and implementation of favorable government regulatory policies are also expected to fuel the growth of this market. Improvement in healthcare infrastructure in developing economies, increase in government support, high R&D investments by major players for developing better IoT infrastructure are expected to offer potential growth opportunities to the market. However, factors such as high costs associated with IoT infrastructure development, data privacy and security concerns, lack of awareness in developing economies and limited technical expertize are projected to restrain the market growth.

GE Healthcare, Koninklijke Philips N.V., and Cisco Systems are among the major players undertaking new product launches in the field. Growing initiatives supporting the adoption of eHealth and digital technologies is also one of the key factors boosting the market.

The report offers detailed segmentation based on component, application, end-use, technology, and region.

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