M2M Healthcare Market By Components (Connectivity Services, Software Platforms and Applications, and M2m Modules), By Application (Remote Health Monitoring, Clinical Monitoring, and Others) and Region - Global Forecast to 2027

Global M2M healthcare Market Overview:

Global M2M healthcare Market is estimated to be valued at around US$ 4.8 Bn in 2019, and is expected to register a CAGR of 24.2%.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

M2M Healthcare is a next generation communication system in which large number of intelligent devices are connected by wired or wireless network for interaction and exchanging information without human interference

Global M2M Healthcare Market: Dynamics

Increasing government initiatives for deployment of smart healthcare solutions in hospitals and health service providers is a key factor expected to support growth of the global M2M healthcare market over the forecast period

In addition, wide availability of online patient communities, such as MyHealthTeams, InquisitHealth, and Smart Patients is another factor expected to bolster growth of the target market to certain extent

Furthermore, various benefits offered by M2M such as reduced time, reduced healthcare cost, easy sharing of healthcare data and remote healthcare monitoring, is also expected to propel demand for M2M healthcare services and drives growth of the market over the forecast period

However, poorly developed medical infrastructure facilities in developing is a major factor may hamper growth of the market to certain extent. Also dearth of skilled personnel to operate M2M systems may hinder growth of the global market.

Technological advancements and increasing R&D activities by leading players, is expected to create new opportunities in terms of revenue in the target market over the forecast period.

Market Analysis by Component:

On the basis of component segmentation, the connectivity services segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The connectivity services segment is expected to witness highest CAGR of 26.8%. The medical data obtained from emergency situations with the support of LTE communication will have high reliability and low latency. LTE can provide high-quality video of the area of emergency and enable high-speed transmission of medical data to patients, which are other factors expected to drive revenue growth of this segment.

Market Analysis by Application:

On the basis of application segment, the remote health monitoring segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The fitness and wellness segment is expected to witness highest CAGR of 26.6%.

Market Analysis by Region:

Presence of advanced medical facilities and developed healthcare infrastructure, coupled with high adoption of technologically advanced products and devices in countries in the region, especially in the US, are major factors driving growth of the North America M2M Healthcare market

Also, increasing presence of advanced research facilities in the US coupled with key market players focusing on introducing M2M Healthcare (OIS) that can be integrated into existing hospital information systems (HIS) and can work seamlessly with each other are other factors projected to propel growth of the North America market to a significant extent over the next 10 years

Increasing government initiatives for spreading awareness about chronic and cancer treatments, coupled with favorable reimbursement policies in countries in the region, are other factors expected to boost demand for healthcare devices market, and in turn drive growth of the North America M2M healthcare market over the forecast period subsequently

Significant increase in geriatric population in recent times, coupled with increasing incidence of lifestyle diseases, and growing number of medical institutions adopting M2M healthcare systems in countries in the region are major factors driving growth of the Europe M2M healthcare market

Moreover, governments in countries such as Germany and the UK provide support to researches involved in discovery of novel medical treatments, which has resulted into favorable environment for research and development activities. This in turn is expected to drive demand for advanced systems that can provide and store accurate information on patients, and can also suggest proper prognosis of treatment. This is further projected to propel growth of the Europe market over the forecast period.

Global M2M Healthcare Market Segmentation:

Global M2M Healthcare Market, by Component:

• Connectivity services
• Software platforms and applications
• M2m modules

Global M2M Healthcare Market, by Application:

• Remote health monitoring
• Clinical monitoring
• Fitness and wellness
• Others

Global M2M Healthcare Market, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle & Africa