IoT in healthcare market estimated to garner $136.8 billion by 2021

The world internet of things in healthcare market was evaluated at $60.4 billion in 2014, and is estimated to garner $136.8 billion by 2021, registering a CAGR of 12.5% over the forecast period.

The market is segmented into patient monitoring, clinical operation and workflow optimization, clinical imaging, fitness & wellness measurement and drug development.

Top IT players are entering the IoT healthcare market through collaboration or acquision of the healthcare companies. For instance, in 2014, major chip manufacturer Qualcomm Life Inc. acquired medical device data integration provider Capsule Technologie.

Recently, in 2015, tech giant International Business Machine Corporation (IBM) collaborated with Medtronic PLC to provide IoT service for Medtronics medical devices data. With this collaboration, IBM, through IoT implementation can benefit from lucrative opportunities in the healthcare industry.