IoT healthcare market to grow at CAGR of 38.1% to 2020 — 6 key notes

The IoT healthcare market is expected to reach $163.24 billion by 2020, up from $32.47 billion in 2015, according to a MarketsandMarkets report.

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Here are six key notes:

 

1. IoT-based technology is used to achieve medical device integration and data analysis to improve operational efficiency.

 

2. North America is set to dominate the market due to technological advancements.

 

3. The advancement of high-speed networking technologies and an increase in remote patient monitoring solutions will drive the market.

 

4. The demand for patient data security solutions also calls on IoT technology solutions.

 

5. A lack of IoT technology skills and standards present obstacles to the market’s growth.

 

6. Medtronic, Philips, IBM, Cisco Systems and GE Healthcare lead the market.

 

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