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.
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.
-- 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
-- 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.
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.
-- 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
1.1 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)
5.1.3 Worldwide Interoperability for Microwave Access (WiMAX)
5.1.4 Wireless Wide Area Network (WWAN)
5.2 By Component
5.3 By Application
5.3.1 Hospitals and Nursing Homes
5.3.2 Home Care
5.3.4 Other Applications
5.4.1 North America
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
6.1.6 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
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