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(Medical-NewsWire.com, September 25, 2018 ) The global IoT medical devices market was valued at USD 17.75 billion in 2017 and is projected to reach USD 63.43 billion by 2023, at a CAGR of 25.2% during the forecast period. Factors such as increasing government initiatives for promoting digital health, growing need for cost-containment in healthcare delivery, rising focus on active patient engagement and patient-centric care delivery, and growing focus on patient safety are the major factors driving the growth of the market. In this report, the years considered for the study are
https://www.marketsandmarkets.com/Market-Reports/iot-medical-device-market-15629287.html
Drivers
Government initiatives for promoting digital health
Over the last decade, governments in several countries have undertaken initiatives for promoting digital health. These initiatives range from heavy investments for setting up the requisite infrastructure and the promotion of digital health, organizing conferences, inviting investors and top market players, and restructuring the healthcare system and implementing regulations mandating the use of EHR.
Growing need for cost-containment in healthcare delivery
The overall cost of healthcare delivery has grown at a double-digit rate in the last few decades. Increasing health insurance premiums, growing demand for quality healthcare services, rising geriatric population, and growing incidence of chronic disorders across the globe are the major factors responsible for the significant rise in healthcare costs. Other major factors contributing to this trend are the high dependency on traditional and technologically outdated clinical devices that increase the rate of readmission of patients, medical errors, and administration costs.
Research Methodology
Top-down and bottom-up approaches were used to validate the size of the global IoT medical devices market and estimate the size of various other dependent submarkets. Major players in the market were identified through secondary sources secondary sources; directories; databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, journals and the market revenues were determined through primary and secondary research. Secondary research included the study of the annual and financial reports of top market players, whereas primary research included extensive interviews with the key opinion leaders such as CEOs, directors, and marketing executives. The percentage splits, shares, and breakdowns of the product markets were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
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Geographically, market has been studies for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America dominated the market, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. In North America, the US held the largest share of the market in 2017. The federal mandates that encourage the adoption of eHealth among healthcare providers and growing focus on improving the quality of care delivered to patients are other major factors supporting market growth in the US.
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Reserach Insight: https://www.marketsandmarkets.com/ResearchInsight/iot-medical-device-market.asp
MarketsandMarkets
Mr. Shelly Singh
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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