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Worldwide Wireless Healthcare Market Outlook to 2024: Key Drivers are Penetration of Internet & Wireless Communication Technology and Wearable Devices for Continuous Monitoring
Friday, July 12, 2019

DUBLIN, July 12, 2019 /PRNewswire/ -- The "Wireless Healthcare Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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The wireless healthcare market is expected to reach a CAGR of 27.38% during the forecast period of 2019-2024.

According to the Center for Disease Control, hospital-acquired infections cause approximately 100,000 deaths in the U.S. each year. That is why improving hand hygiene is a significant focus for the World Health Organization and the Centers for Disease Control.

Sensors in soap and hand sanitizer dispensers that communicate with RFID tags in staff identification badges can now determine if and when staff sanitize their hands, which is a key trend for the market.

Key Highlights

    --  Penetration of internet and wireless communication technology is driving
        the market. In a connected hospital, caregivers use wireless medical
        equipment to provide the best quality of care to patients, rather than
        being preoccupied by time-consuming administrative tasks. Doctors and
        nurses can easily access up-to-date patient information, enabling
        treatment decisions supported by real-time medical information and
        resulting in improved outcomes for the patient.
    --  Wearable devices for continuous monitoring is driving the market. The
        proliferation of smartphones and the acceptance of wearable devices have
        made medical device and diagnostic center to experiment with body-worn
        sensors that can monitor vital signs and transmit them in real time to
        an online platform that can be remotely accessed.
    --  However, cybersecurity and privacy issues are restraining the market
        growth as vast amounts of health data are generated in the process of
        treatment in medical centers such as hospitals and clinics and the theft
        of the data can degrade the privacy of the data.

Major Market Trends

IoT in Medical to Increase the Market Share

    --  The evolution of the healthcare IT has been augmented by the
        intervention of internet of things (IoT) in the industry, which called
        for a connected hospital environment. The wireless network solutions is
        helping the healthcare industry by allowing practitioners to access
        files remotely to direct diagnosis in case of unavailability.
    --  At the moment, biosensors are among the most important elements of the
        healthcare digital transformation. It can help users by collecting data
        about all their physical activities, sleep, and overall health in
        hospitals. Some of these devices record indicators with high sensitivity
        and specificity, which makes them very useful for health management,
        especially for treating elderly patients with several chronic diseases
        at once.
    --  Blockchain initiatives are being widely implemented in the healthcare
        sector. For instance, Estonian eHealth Foundation and Guardtime company
        entered into a partnership for integrating a Blockchain-based system to
        secure millions of medical records.
    --  As the heart disease rate is going faster, the IoT system utilizes
        algorithms for continuous ECG monitoring in patient in hospital. In
        electrocardiogram (ECG) monitoring, the system keeps track of the heart
        rate and the basic rhythm by recording the electrical activity of the
        heart. The ECG monitor consists of a wireless transmitter and a
        receiver. An automated application can identify an abnormal heart
        activity and the data is transferred in real time to mobile phones and
        the doctors clinic via a network.

Europe to Hold a Significant Share

    --  Europe is a big market for wireless healthcare systems because of the
        increasing aging problem in this region. The proportion of Europeans
        aged 65 years and older will grow from 16% in 2000 to 24% by 2030. This
        will put an enormous pressure on the present healthcare system so,
        technologies like wireless healthcare system will help ease the system
        of providing treatment to the growing senior or elderly population.
    --  Healthcare in Europe is increasingly becoming digitised and there is
        growing need to develop and deploy sophisticated information systems.
        They are already being deployed for non-intrusive patient monitoring and
        for keeping track of the vital metrics. This information can be relayed
        back to caregivers and doctors in order to increase the efficiency of
        the medical treatment.
    --  For instance, the UK government has been welcoming the technology
        revolution in the country and has been willing to allow the
        implementation of the automation solutions. The pharmaceutical industry
        has also entered the technology domain with 63% of the major companies
        investing in developing mobile applications for automatically resetting
        the prescription deadlines and automatically reminding the patients
        regarding refilling the prescriptions.

Competitive Landscape

The wireless healthcare market is fragmented as the players are striving to increase their market share through strategies such as improvements in existing solutions and software platforms, development of new platforms, and strategic alliances with other market players. Therefore, several players account for significant individual shares in the market. Key players include AT&T, Cisco Systems, Motorola Solutions, etc.

Recent Developments

    --  June 2019 - Aerohive Networks, a leader in cloud-managed networking was
        announced as second largest vendor in the Enterprise-class Cloud-managed
        Wireless LAN (WLAN) market in the Cloud Managed Wireless LAN Services
        White Paper. There are many advantages to using Aerohive's Cloud-managed
        WLAN services and over time, small to large enterprises will take
        complete advantage of these services to further simplify their business
        models and gain operational efficiencies that come from Artificial
        Intelligence (AI) and Machine Learning (ML) in healthcare sector.

Key Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers & Restraints
4.3 Market Drivers
4.3.1 Penetration of Internet & Wireless Communication Technology
4.3.2 Wearable Devices for Continuous Monitoring
4.4 Market Restraints
4.4.1 Cybersecurity and Privacy Issues
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Wireless Personal Area Network (WPAN)
5.1.2 Wi-Fi
5.1.3 Worldwide Interoperability for Microwave Access (WiMAX)
5.1.4 Wireless Wide Area Network (WWAN)
5.2 By Component
5.2.1 Hardware
5.2.2 Software
5.2.3 Services
5.3 By Application
5.3.1 Hospitals and Nursing Homes
5.3.2 Home Care
5.3.3 Pharmaceuticals
5.3.4 Other Applications
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AT&T Inc.
6.1.2 Cisco Systems Inc.
6.1.3 Motorola Solutions Inc.
6.1.4 Philips Healthcare
6.1.5 Qualcomm
6.1.6 Samsung Group
6.1.7 Verizon Communication Inc.
6.1.8 Apple Inc.
6.1.9 Aerohive Networks Inc.
6.1.10 Allscripts Healthcare Solutions Inc.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/41qu6a

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets



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