DUBLIN–(Business Wire)–The “IoT Chip In Healthcare Market – Forecasts from 2020 to 2025” report has been added to ResearchAndMarkets.com’s offering.
The IoT chip in healthcare market was valued at US$1,507.165 million for the year 2019.
Rising healthcare expenditure is boosting the adoption of digital technologies including Internet of Things (IoT), artificial intelligence (AI), virtual/augmented reality (VR/AR), and 3D printing among others. In the healthcare sector, digital technology is helping in developing sustainable healthcare systems and providing cheaper and more effective solutions for various diseases. As such, the IoT chip in healthcare market is flourishing worldwide. The Internet of Things (IoT) has opened up a wide range of opportunities in the healthcare industry. The growing adoption of connected devices across this sector has significantly boosted the demand for this technology.
The emerging popularity of remote healthcare solutions is another major driver of IoT chip in healthcare market. The growing global aging population, especially in developed countries, has augmented the demand for home healthcare solutions. According to the World Bank Data, the population ages 65 and above of the total population has increased from 7.49% in 2008 to 8.87% in 2018. Moreover, the rising prevalence of chronic diseases is also leading patients to shift to remote healthcare solutions and services in order to reduce spending on regular hospital visits. As the use of cellular technology is maturing, people are opting for innovative mobile health services which is positively impacting the growth of IoT chip in healthcare market. Increasing investments in R&D to develop innovative remote health solutions is further contributing to the market growth. For example, in 2018, researchers at Griffith University in Australia collaborated with Huawei and Tonwo Health Clinic Technology to develop wearable devices that will help patients to manage chronic conditions.
Companies are actively involved in growth strategies in order to expand their global market share which is also fuelling the growth of IoT chip in healthcare market. Recently, in April 2020, Sony entered into a collaborative partnership with Norwegian telecommunications firm Telenor, and Ericsson to build Internet of Things (IoT) devices for the healthcare market. Under this partnership, Sony will provide sensors using its Visilion advanced tracking solution, Telenor will supply the SIM cards and networking tools which work globally, and Ericsson will provide its IoT Accelerator Platform which enables businesses to connect and manage billions of devices. Mexican Biotix Labs has also partnered with Spanish health tech Fixme to combine IoT technology and physiotherapy in Mexico. Physiotherapists will be using a device for measuring the range of movement of the patient’s limbs to better understand the healing process.
The recent COVID-19 pandemic outbreak has further impacted the growth of the IoT chip in healthcare market. With clinicians and researchers focusing on treatment breakthroughs, IoT and related technologies have become mainstream applications. With the mandatory quarantine of patients with symptoms of COVID-19, healthcare workers are using IoT devices to remotely monitor patients’ vitals in an isolation ward. With the rapid and global spread of this virus, it has become more vital than ever for healthcare organizations to reap the advantage of advanced technologies available such as IoT in order to combat this disease. A sudden surge in the demand for telemedicine is further driving the market growth.
Companies, as well as academic institutions, are conducting various research in order to come up with effective use of IoT to combat this global pandemic. For example, the University of Hong Kong has been successful in using a commercial AI and IoT platform from Biofourmis for monitoring COVID-19 positive patients. Australia’s largest running LoRaAN network operator, the National Narrowband Network Co (NNNCo), has recently partnered with Belgian Applications and Solutions Provider, WMW, to bring IoT solutions to the country, including those that can assist in the battle against coronavirus spread.
- Intel Corporation
- Qualcomm Technologies, Inc.
- Texas Instruments Incorporated
- Cypress Semiconductor Corporation
- NXP Semiconductors
- Silicon Laboratories Inc.
- Analog Devices, Inc.
- Renesas Electronics Corporation
- Nordic Semiconductor
Key Topics Covered:
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. IoT chip in healthcare market Analysis, By Connectivity
6. IoT chip in healthcare market Analysis, By Geography
6.2. North America
6.3. South America
6.5. Middle East and Africa
6.6. Asia Pacific
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/dmxmcf
Laura Wood, Senior Press Manager
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