Healthcare M2M Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Healthcare is a massively growing industry, both in terms of value and volume, and has been gaining traction due to various mechanical and technological advancements. Advanced machine-based processes ensure a high success rate in treatments and diagnosis and also provide better quality of services.
The global healthcare machine to machine (M2M) market is set to benefit from developments under healthcare modules, wireless wearable devices, and various applications and platforms.
Based on components, the healthcare M2M market can be segmented into M2M modules, connectivity services, and M2M applications and platforms.In terms of application, the market can be categorized into medical facilities, patient well-being, sports and fitness, and others.
The report provides a comprehensive breakdown of market segments and the competitive landscape. It also offers insights on drivers and restraints in the global healthcare M2M market.
It also profiles prominent players in the market based on various attributes such as company overview, business strategies, financial overview, and recent developments.
Global Healthcare M2M Market: Trends and Prospects
Healthcare M2M-based solutions are in high demand as they assist in cutting down escalating operational costs of healthcare facilities due to increased administrative work. These cost-effective solutions improve efficiency by eliminating the cumbersome paperwork, reducing the risk of medical errors, and delivering accurate results.
However, the presence of alternate technologies such as IMAX, Satellite, 2G/3G, and Bluetooth is acting as an obstacle for the deployment of M2M-based solutions in the healthcare industry. The adoption of M2M across the extensive healthcare sector is also facing difficulty due to difference in wireless standards of these technologies.
The global optimum usage of M2M-based solutions will take time as wireless technology still remains in the nascent stage in many developing economies.
Based on application, the patient well-being segment is expected to gain prominence. The segment is leading as a majority of hospital staff across the globe operates under high pressure to provide patient care.
Here, M2M-based solutions make the operations tad easier and it is a highly appreciated move by the hospital staff.
The connectivity services component segment is expected to account for a large share in the market. These services are extensively used in inventory tracking in medical warehouses and can also be used to track medical personnel and monitor patients.
There has been a rise in investments from telecom companies in regions such as Africa towards the development of the M2M network infrastructure in order to provide effective dual-mode M2M healthcare applications. This is expected to boost the segment’s growth during the forecast period.
Global Healthcare M2M Market: Regional Analysis
On the basis of geography, the global healthcare M2M market can be segmented into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. North America accounts for a large market share and is expected to lead during the forecast period.
This region’s dominance can be attributed to growing expenditure on healthcare and high acceptance of new and advanced technologies. Moreover, a large pool of geriatrics, escalating cases of chronic diseases, and rising awareness of the benefits of M2M-based healthcare solutions are some of the factors driving the market in North America.
Another promising regional market for healthcare M2M is Asia Pacific, which is also slated to be one of the fastest growing markets during the said period. Increasing government support to improve healthcare infrastructure and provide affordable healthcare is expected to give impetus to this market.
Companies Mentioned in the Report
Some of the leading players operating in the global healthcare M2M market are Stanley Healthcare, AT&T Inc., GE Healthcare, Athenahealth, Inc., IBM Corporation, Cisco Systems Inc., Apple Inc., Allscripts Healthcare Solutions Inc., Gemalto NV, and Sierra Wireless Inc.
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