Global IoT in Healthcare Market is projected to reach US$ 181.4 Bn in 2022

The global IoT in Healthcare Market is worth US$ 181.4 Bn as of now, and expected to reach US$ 952.3 Bn by the year 2032 at an unparalleled CAGR of 18% between 2022 and 2032. Ever increasing usage of Internet of Things (IoT) based connected devices in healthcare sector and software solutions in healthcare oriented operations are humungous key factors driving this market growth.

Other vital factors such as rising chronic condition incidence, rising geriatric population presence of a large target patient population, rising diagnosis rate, rising patient awareness about IoT-based portable diagnostic devices, and improvements in overall healthcare infrastructure are also expected to propel market growth.

AI, ML, and NLP are helping in analysing the health of the patient. At the same time, security-related risks of IoT in the healthcare vertical can't be ignored. This factor may restrain the IoT in healthcare market. Future Market Insights has walked through these facts with insights in its latest market study entitled 'IoT in healthcare Market'.

North America holds a noteworthy market share. This could be reasoned with an increasing emphasis on health management all over the US.
Europe is also expected to grow on a linear note with the UK and France leading from the front. This could be attributed to growing demand for telemedicine, mHealth, and EHRs (electronic health records).

The Asia-Pacific is expected to grow at the fastest rate in the IoT in healthcare market with South Korea, India, China holding the baton.

LATAM is expected to pick up pace in future with increasing focus of the governments in improving healthcare system. For example – different ministries of Brazil, in February 2020, announced collaboration for integrating IoT schemes in healthcare sector.