The market for healthcare focused IoT devices is heating up fast as we speed into the second half of this decade.
According to the latest market research and corresponding projections covered in recent days by our sister site mHealthWatch, the global IoT in Healthcare market was valued at $24,666.7 million in 2014, and it is expected to grow with a CAGR of 37.6% during 2015 – 2020.
Among the various components, the system and software segment is expected to witness the fastest growth during the forecast period, with a CAGR of 40.7%.
The global IoT in healthcare market is growing at a significant rate, due to increasing demand for advanced healthcare information system, and growing prevalence of chronic and lifestyle associated diseases.
In addition, the growing need for remote patient monitoring services, increasing demand of mHealth technologies, and increasing support from government organizations are also driving the growth of the global IoT in healthcare market.
More insight can be gleaned from the “Global Internet of Things (IoT) in Healthcare” report available here.