NEW YORK, United States, June 12, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Global Healthcare M2M Market 2020 – 2028” in its research database. According to the latest research study, the demand of global healthcare M2M Market size was valued at USD 22.14 billion in 2020 and it is expected to surpass around USD 32.97 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 5.1% during the forecast period 2021 to 2028.
Healthcare M2M Market Overview:
Healthcare is one of the most basic necessities that not only improves one's quality of life but also extends one's life expectancy, ensuring one's future security. Machine to Machine (M2M) is a critical tool in healthcare for improving patient care and providing remote diagnostic solutions. It consists of a sensor that records physiologic data such as heart rate, brain image, and so on. Furthermore, the recording is sent to a specific software application via wired or wireless communication, which converts the recorded data into usable information for physicians sitting far away from the patient.
These sensors could be attached to a patient's body 24 hours a day, seven days a week, to allow a physician to monitor their health. Machine-to-machine communication can improve healthcare facilities in a variety of ways, including improved patient care and convenience for both caregivers and care recipients.
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Global Healthcare M2M Market: Growth Drivers
Increased healthcare expenditures drive the growth
Increased healthcare expenditures worldwide, particularly in developed regions such as North America, are a major factor driving growth in the healthcare M2M market. The global prevalence of chronic diseases such as diabetes, cardiovascular disease, and cancer is fueling the healthcare M2M market's growth.
Furthermore, the healthcare M2M market is being driven by continuous advancements in wireless technology to bridge the gap between the healthcare provider and the healthcare receiver.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2020 | USD 22.14 Billion |
| Market Forecast in 2028 | USD 32.97 Billion |
| Growth Rate | CAGR of 5.1% |
| Base Year | 2020 |
| Forecast Years | 2021- 2028 |
| Key Companies Covered | AT&T (U.S.), Verizon (U.S.), Gemalto (The Netherlands), Vodafone (U.K.), China Mobile (China), Sierra Wireless (Canada), Telefonica (Spain), Telit Communications (U.K), and Deutsche Telekom (Germany), among others. |
| Segments Covered | By Technology, By Industry Vertical, By Application, By Application, By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
COVID-19 Impact Analysis:
The outbreak of COVID-19 positively impacted the global healthcare M2M market. Lockdown significantly increased the demand for M2M technology. A key factor expected to support the growth of the global M2M healthcare market over the forecast period is an increase in government initiatives for the deployment of smart healthcare solutions in hospitals and health service providers.
Furthermore, the widespread availability of online patient communities such as MyHealthTeams, InquisitHealth, and Smart Patients is expected to help the target market grow to some extent.
Segmentation Analysis:
Technology Segment Analysis Preview
It covers wired, wireless, and cellular technology under technology segmentation. Ethernet and industrial Ethernet are two different types of wired technology. It supports short-range, Wi-Fi, Zigbee, and Bluetooth wireless technology. It includes second generation (2G), third generation (3G), and fourth generation (4G)/Long-Term Evolution in cellular technology segmentation (LTE).
By Technology Segmentation
- Wired
- Wireless
- Cellular technology
Industry Segment Analysis Preview
Healthcare, utilities, automotive & transportation, retail, consumer electronics, and security & surveillance are the industry verticals that the M2M market is divided into. Patient monitoring and tracking, as well as telemedicine, are two subsets of healthcare. Smart grids and smart meters are covered under utilities. Telematics and fleet tracking/monitoring are covered under the automotive and transportation umbrella. Digital signage and point-of-sale, as well as vending machines and ATMs, are included in the retail segmentation. Smart TVs, smart TV consoles, and smart appliances are all examples of consumer electronics. It covers commercial and residential security, as well as remote surveillance, based on security and surveillance segmentation.
By Industry Vertical
- Healthcare
- Utilities
- Automotive & Transportation
- Retail
- Consumer Electronic
- Security & Surveillance
By Application
- Patient Well-being
- Medical Facilities
- Sports & Fitness
- Others
Competitive Landscape:
Some of the main competitors dominating the global healthcare M2M market include -
- AT&T (U.S.)
- Verizon (U.S.)
- Gemalto (The Netherlands)
- Vodafone (U.K.)
- China Mobile (China)
- Sierra Wireless (Canada)
- Telefonica (Spain)
- Telit Communications (U.K)
- Deutsche Telekom (Germany)
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Healthcare M2M market is likely to expand at a CAGR of around 5.1% during the forecast period (2021-2028).
- In terms of revenue, the Healthcare M2M market size was valued at around US$ 22.14 billion in 2020 and is projected to reach US$ 32.97 billion by 2028.
- Healthcare M2M market growth is largely being driven by rising healthcare costs globally, especially in wealthy nations like North America.
- Based on application segmentation, the Application123 was the leading revenue-generating category in {2019}.
- On the basis of region, the North America was the largest regional market for M2M connected healthcare over the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Healthcare M2M industry?
- What are the main driving factors propelling the Healthcare M2M Market forward?
- What are the leading companies in the Healthcare M2M Industry?
- What segments does the Healthcare M2M Market cover?
- How can I receive a free copy of the Healthcare M2M Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Technology, By Industry Vertical, By Application, By Application, By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
- Presence of big players in the region support North American dominance
In the forecast period, North America was the largest regional market for M2M connected healthcare. North America's leading position in this market segment is due to the well-established healthcare infrastructure of the United States and Canada, as well as the presence of a large pool of technically-savvy patient population. After North America, Europe was the second-largest market. Germany, France, the United Kingdom, Italy, and Spain are the most promising markets in Europe, accounting for more than 60% of the total M2M connected healthcare market in Europe.
The healthcare M2M market is expected to grow rapidly in Asia Pacific's emerging economies, such as China and India, because these countries have the world's largest populations and lack adequate healthcare facilities. Furthermore, over the forecast period, telemedicine facilities are expected to drive market growth in these regions.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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