Internet of Medical Things, Forecast to 2021

Internet of Medical Things, Forecast to 2021

Growth Opportunities, Challenges, and Future Perspectives in Healthcare

RELEASE DATE
06-Jun-2017
REGION
Global
Research Code: K1AB-01-00-00-00
SKU: HC02807-GL-MT_20052

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Description

Healthcare is one of the industries facing disruption by technological advances in the Internet of Things (IoT) space, and yet it is only partially aware of the advances, potential, and benefits. Almost 60% of healthcare organizations have already adopted healthcare IoT or Internet of Medical Things (IoMT), and realized cost savings, improved their profitability, visibility and customer experience. Indeed, IoMT serves the financial interests of healthcare industry stakeholders including investors, manufacturers, providers and physicians. It is well-suited to meet the needs of the transforming healthcare industry, by supporting the transition from disjointed care to coordinated care and reactive to proactive care-delivery approaches, for example. An estimated 4.5 billion IoMT devices existed in 2015, accounting for 30.3% of all IoT devices globally; this number is expected to grow to 20-30 billion IoMT devices by 2020. Capitalizing on this trend with the right applications for the right customers with the right partners and relevant business models is crucial for healthcare stakeholders to survive the fierce competition, which is supported by start-up companies and technology giants alike.

With IoMT, a connected ecosystem of sensors and devices on and around the individual serve to capture and measure, identify, stratify risks, inform, make decisions and take actions. With that underlying principle, the IoMT market has five application areas. The On Body area covers wearable devices such as smart devices, peripherals, and even implants. The In Home environment includes digital/virtual assistants, activity monitors, and home medical devices. Within the Community segment, automated kiosks, emergency response intelligence and mobility are application areas. In the Clinic segment, handheld medical devices and care-coordination technologies as well as administrative support tools are areas where IoMT is making its mark. The In Hospital area benefits from IoMT use for real-time location services, patient/personnel flow tools and smart, connected equipment for better inventory management and resource utilization.

This study covers the landscape of the Internet of Medical Things by application areas—on body, in home, community, in clinic, and in hospital. For each application area, IoT use cases, vendor landscape of over 100 IoMT stakeholders, potential opportunities and challenges have been covered. Additionally, analysis on business model considerations for IoMT stakeholders, case studies, and future perspectives has also been provided.

Key questions that this study will answer:
• What does the current IoMT market landscape look like? Which areas are being served, and by whom?
• What are the segment-specific challenges and opportunities for IoMT market incumbents and those considering entering the market?
• What strategies for success can be employed by stakeholders?
• What are the important business model considerations for IoMT stakeholders and new entrants?
• What are the future perspectives that IoMT industry stakeholders and new entrants should be aware of?

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Scope and Segmentation

Market Engineering Measurements

IoMT Vendor Landscape

CEO’s Perspective

3 Big Predictions

The Internet of Things (IoT) Revolution

Enabling Communication Technologies in IoT

Global Adoption Status of IoT

IoT Experience of Healthcare Organizations

Role of Digital Technology in Healthcare

IoT Convergence Potential—Interaction with Top 50 Technologies

Why will the Healthcare Industry Adopt IoT?

IoMT Enables Transition of Care Delivery

IoMT Technology Stack

Where IoMT Devices Stand Within the Larger IoT Ecosystem

IoMT Applications Overview

IoMT-Enabled Connected Healthcare Ecosystem

Forces Driving the IoMT Market

Challenges for the IoMT Market

Market Drivers and Restraints

Market Engineering Measurements

Revenue Forecast

Revenue Forecast by Segment

Percent Revenue Forecast by Segment

Market Engineering Measurements

Revenue Forecast by Sub-segment

Biometrics Tracked by On Body Devices

Devices to Enable Care Optimization

User Group Mapping for On Body Devices

Devices Vendor Landscape

Select Novel On Body IoMT Devices and Applications

IoMT Challenges

Market Opportunities

Strategies for Success

Requisite IoMT Capabilities

Serving the IoMT Market

Targeting Care Delivery

Learning From 6 Common Points of Failure in IoMT

IoMT Industry Focus

Technology Companies’ IoMT Applications

Technology Companies’ IoT and Healthcare Implications

Notable IoMT Collaborations

On Body Segment—Alivecor Smartphone Connected Device

On Body Segment—OpenAPS Project for Diabetes

In Home Segment—Cue Portable Lab for Quick Tests

Community Segment—Automotive Industry

Community Segment—‘Underworlds’ Sewer Project

In Clinic Segment—Ekso Bionics Connected Exoskeletons

In Hospital Segment—Smart Hospitals

Data Analytics and Cloud Computing

Healthcare Cybersecurity

Tackling Cybersecurity Issues

Lowering Costs of IoMT Devices

Key Questions for IoMT Stakeholders to Consider

3 Big Predictions

Legal Disclaimer

Learn More—Next Steps

List of Figures
  • 1. Total IoMT Market: Key Market Drivers and Restraints, Global, 2017–2021
  • 2. Total IoMT Market: Market Engineering Measurements, Global, 2016
  • 3. On Body Segment: Market Engineering Measurements, Global, 2016
  • 4. In Home Segment: Market Engineering Measurements, Global, 2016
  • 5. Community Segment: Market Engineering Measurements, Global, 2016
  • 6. IoT Market: Public Health Impact of Community Use Cases, Global, 2016
  • 7. In Clinic Segment: Market Engineering Measurements, Global, 2016
  • 8. In Hospital Segment: Market Engineering Measurements, Global, 2016
  • 9. In Hospital segment: Market Opportunities, Global, 2016
List of Charts
  • 1. Total IoMT Market: Market Engineering Measurements, Global, 2016
  • 2. Total IoMT Market: Internet of Things Enablers, Global, 2016
  • 3. Total IoMT Market: Internet of Things Communication Technologies, Global, 2016
  • 4. Total IoMT Market: Percentage Adoption of IoT & Percent Satisfied by Industry Sector, Global, 2016
  • 5. Total IoMT Market: Healthcare Industry Experience with IoT, Global, 2016
  • 6. Total IoT Market: IoMT Devices’ Proportion In All IoT Devices, Global, 2015
  • 7. Total IoMT Market: All IoT Devices, Global, 2020
  • 8. Total IoT Market: Devices’ Proportion In All IoT Devices by Industry, Global, 2015
  • 9. Total IoMT Market: Market Segmentation, Global, 2016
  • 10. Total IoMT Market: Revenue Forecast, Global, 2015–2021
  • 11. Total IoMT Market: Revenue Forecast by Segment, Global, 2015–2021
  • 12. Total IoMT Market: Percent Revenue by Segment, Global, 2016
  • 13. Total IoMT Market: Percent Revenue Forecast by Segment, Global, 2021
  • 14. On Body Segment: Revenue Forecast by Sub-segment, Global, 2015–2021
  • 15. Total IoMT Market: On Body Devices Segment Mapping of Parameters and User Groups, Global, 2016
  • 16. On Body Segment: Addressable Market Opportunities, Global, 2020
  • 17. In Home Segment: Revenue Forecast by Sub-segment, Global, 2015–2021
  • 18. In Home Segment: Opportunity Analysis, Global, 2016
  • 19. Community Segment: Revenue Forecast by Sub-segment, Global, 2015–2021
  • 20. Community Segment: Logistics IoMT Use Cases, Global, 2016
  • 21. Total IoMT Market: Passenger Vehicles IoMT Ecosystem, Global, 2016
  • 22. Community Segment: Health, Wellness and Wellbeing Applications in Passenger Vehicles, Global, 2016–2025
  • 23. In Clinic Segment: Revenue Forecast, Global, 2015–2021
  • 24. IoMT Market: In Clinic IoMT Diagnostic Tools, Global, 2016
  • 25. IoMT Market: In Clinic IoMT Covered Disorders, Global, 2016
  • 26. In Clinic Segment: IoMT Challenges, Global, 2016
  • 27. In Hospital Segment: Revenue Forecast by Sub-segment, Global, 2015–2021
Related Research
Healthcare is one of the industries facing disruption by technological advances in the Internet of Things (IoT) space, and yet it is only partially aware of the advances, potential, and benefits. Almost 60% of healthcare organizations have already adopted healthcare IoT or Internet of Medical Things (IoMT), and realized cost savings, improved their profitability, visibility and customer experience. Indeed, IoMT serves the financial interests of healthcare industry stakeholders including investors, manufacturers, providers and physicians. It is well-suited to meet the needs of the transforming healthcare industry, by supporting the transition from disjointed care to coordinated care and reactive to proactive care-delivery approaches, for example. An estimated 4.5 billion IoMT devices existed in 2015, accounting for 30.3% of all IoT devices globally; this number is expected to grow to 20-30 billion IoMT devices by 2020. Capitalizing on this trend with the right applications for the right customers with the right partners and relevant business models is crucial for healthcare stakeholders to survive the fierce competition, which is supported by start-up companies and technology giants alike. With IoMT, a connected ecosystem of sensors and devices on and around the individual serve to capture and measure, identify, stratify risks, inform, make decisions and take actions. With that underlying principle, the IoMT market has five application areas. The On Body area covers wearable devices such as smart devices, peripherals, and even implants. The In Home environment includes digital/virtual assistants, activity monitors, and home medical devices. Within the Community segment, automated kiosks, emergency response intelligence and mobility are application areas. In the Clinic segment, handheld medical devices and care-coordination technologies as well as administrative support tools are areas where IoMT is making its mark. The In Hospital area benefits from IoMT use for rea
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Table of Contents | Executive Summary~ || Key Findings~ || Scope and Segmentation~ || Market Engineering Measurements~ || IoMT Vendor Landscape~ || CEO’s Perspective~ || 3 Big Predictions~ | Internet of Things—Overview~ || The Internet of Things (IoT) Revolution~ || Enabling Communication Technologies in IoT~ || Global Adoption Status of IoT~ || IoT Experience of Healthcare Organizations~ | Market Overview~ || Role of Digital Technology in Healthcare~ || IoT Convergence Potential—Interaction with Top 50 Technologies~ || Why will the Healthcare Industry Adopt IoT?~ || IoMT Enables Transition of Care Delivery~ || IoMT Technology Stack~ || Where IoMT Devices Stand Within the Larger IoT Ecosystem~ || IoMT Applications Overview~ || IoMT-Enabled Connected Healthcare Ecosystem~ | Dynamics Catalyzing Market Growth~ || Forces Driving the IoMT Market~ || Challenges for the IoMT Market~ || Market Drivers and Restraints~ | Forecasts—Total IoMT Market~ || Market Engineering Measurements~ || Revenue Forecast~ || Revenue Forecast by Segment~ || Percent Revenue Forecast by Segment~ | Forecasts—On Body Segment~ || Market Engineering Measurements~ || Revenue Forecast by Sub-segment~ | On Body Segment Analysis~ || Biometrics Tracked by On Body Devices~ || Devices to Enable Care Optimization~ || User Group Mapping for On Body Devices~ || Devices Vendor Landscape~ || Select Novel On Body IoMT Devices and Applications~ || IoMT Challenges~ || Market Opportunities~ || Strategies for Success~ | Forecasts—In Home Segment~ | In Home Segment Analysis~ | Forecasts—Community Segment~ | Community Segment Analysis~ | Forecasts—In Clinic Segment~ | In Clinic Segment Analysis~ | Forecasts—In Hospital Segment~ | In Hospital Segment Analysis~ | Target Market and Partnering Considerations~ || Requisite IoMT Capabilities~ || Serving the IoMT Market~ || Targeting Care Delivery~ || Learning From 6 Common Points of Failure in IoMT~ | Select IoMT Participants~ || IoMT Industry Focus~ || Technology Companies’ IoMT Applications~ || Technology Companies’ IoT and Healthcare Implications~ || Notable IoMT Collaborations~ | Noteworthy Case Studies~ || On Body Segment—Alivecor Smartphone Connected Device~ || On Body Segment—OpenAPS Project for Diabetes~ || In Home Segment—Cue Portable Lab for Quick Tests~ || Community Segment—Automotive Industry~ || Community Segment—‘Underworlds’ Sewer Project~ || In Clinic Segment—Ekso Bionics Connected Exoskeletons~ || In Hospital Segment—Smart Hospitals~ | Future Perspectives~ || Data Analytics and Cloud Computing~ || Healthcare Cybersecurity~ || Tackling Cybersecurity Issues~ || Lowering Costs of IoMT Devices~ || Key Questions for IoMT Stakeholders to Consider~ || 3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Learn More—Next Steps~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Total IoMT Market: Key Market Drivers and Restraints, Global, 2017–2021~ 2. Total IoMT Market: Market Engineering Measurements, Global, 2016~ 3. On Body Segment: Market Engineering Measurements, Global, 2016~ 4. In Home Segment: Market Engineering Measurements, Global, 2016~ 5. Community Segment: Market Engineering Measurements, Global, 2016~ 6. IoT Market: Public Health Impact of Community Use Cases, Global, 2016~ 7. In Clinic Segment: Market Engineering Measurements, Global, 2016~ 8. In Hospital Segment: Market Engineering Measurements, Global, 2016~ 9. In Hospital segment: Market Opportunities, Global, 2016~| 1. Total IoMT Market: Market Engineering Measurements, Global, 2016~ 2. Total IoMT Market: Internet of Things Enablers, Global, 2016~ 3. Total IoMT Market: Internet of Things Communication Technologies, Global, 2016~ 4. Total IoMT Market: Percentage Adoption of IoT & Percent Satisfied by Industry Sector, Global, 2016~ 5. Total IoMT Market: Healthcare Industry Experience with IoT, Global, 2016~ 6. Total IoT Market: IoMT Devices’ Proportion In All IoT Devices, Global, 2015~ 7. Total IoMT Market: All IoT Devices, Global, 2020~ 8. Total IoT Market: Devices’ Proportion In All IoT Devices by Industry, Global, 2015~ 9. Total IoMT Market: Market Segmentation, Global, 2016~ 10. Total IoMT Market: Revenue Forecast, Global, 2015–2021~ 11. Total IoMT Market: Revenue Forecast by Segment, Global, 2015–2021~ 12. Total IoMT Market: Percent Revenue by Segment, Global, 2016~ 13. Total IoMT Market: Percent Revenue Forecast by Segment, Global, 2021~ 14. On Body Segment: Revenue Forecast by Sub-segment, Global, 2015–2021~ 15. Total IoMT Market: On Body Devices Segment Mapping of Parameters and User Groups, Global, 2016~ 16. On Body Segment: Addressable Market Opportunities, Global, 2020~ 17. In Home Segment: Revenue Forecast by Sub-segment, Global, 2015–2021~ 18. In Home Segment: Opportunity Analysis, Global, 2016~ 19. Community Segment: Revenue Forecast by Sub-segment, Global, 2015–2021~ 20. Community Segment: Logistics IoMT Use Cases, Global, 2016~ 21. Total IoMT Market: Passenger Vehicles IoMT Ecosystem, Global, 2016~ 22. Community Segment: Health, Wellness and Wellbeing Applications in Passenger Vehicles, Global, 2016–2025~ 23. In Clinic Segment: Revenue Forecast, Global, 2015–2021~ 24. IoMT Market: In Clinic IoMT Diagnostic Tools, Global, 2016~ 25. IoMT Market: In Clinic IoMT Covered Disorders, Global, 2016~ 26. In Clinic Segment: IoMT Challenges, Global, 2016~ 27. In Hospital Segment: Revenue Forecast by Sub-segment, Global, 2015–2021~
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Author Siddharth Shah
Industries Healthcare
WIP Number K1AB-01-00-00-00
Keyword 1 Internet of Medical Things
Keyword 2 Future Perspectives in Healthcare
Keyword 3 advances in the Internet of Things space
Is Prebook No