Healthcare M2M Market to Rise at 22.5% by 2023 due to Increasing Demand for Wearable Technology

Machine-to-machine (M2M) technologies establish a connection between wired and wireless devices and equipment through a wired line, Wi-Fi, Bluetooth, RFID, LAN, and other related technologies. The introduction and usage of M2M in the healthcare sector has breathed life into traditional practices of patient care. The increasing awareness of wearable devices that have integrated M2M applications to keep a track of fitness regimes and activities such as stress, sleep, and calorie intake is also changing the face of healthcare. The growing demand for real-time care is likely to fuel the growth of the global healthcare M2M market in the coming years.

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The global healthcare M2M market is segmented on the basis of the component, application, and geography. The components that constitute this market are M2M modules, M2M applications and platforms, and connectivity services. The applications of healthcare M2M are seen in patient well-being, sports and fitness, medical facilities, and others such as implants and research and foundation. Geographically, this market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

As of 2014, North America held a share of about 34% in the global healthcare M2M market. Research indicates that the increasing deployment of healthcare M2M in the healthcare sector of North America has helped in ironing out the issues of demand and supply of patient-centric healthcare in several cities in the region along with bringing in renewed productivity. The demand for healthcare M2M solutions will continue to remain high in North America due to the high incidence of chronic diseases and a rising pool of geriatrics.

Between 2015 and 2022, the Asia Pacific region will also show significant progress surging at a CAGR of 26.9%. The growth of the healthcare M2M market in this region will be a result of the increasing M2M-based connections, rising government initiatives to improve the healthcare infrastructure, and a high demand for low-cost medical connectivity services.

Some of the important players operating in the global healthcare M2M market are GE Healthcare, Athenahealth, Inc., IBM Corporation, Apple Inc., Allscripts Healthcare Solutions Inc., Stanley Healthcare, AT&T Inc., Gemalto NV, Sierra Wireless Inc., and Cisco Systems Inc. The research report provides a thorough analysis of the market by profiling these vendors and explaining the competitive landscape. Furthermore, the report also provides an evaluation of the research and development strategies, financial overview, investment outlook, business and marketing strategies, and expansion plans of these players for the coming few years.

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