Over the past few years, the healthcare industry has been witnessing
increasing adoption of machine to machine (M2M) technology in order
to reduce skyrocketing healthcare costs, increase adherence to
medical regimens and improve better patient care. M2M connected
healthcare is a healthcare delivery model that operates in an IT
ecosystem, and allow easy access and sharing of healthcare related
data such as patient medical history data, patient personal
information, prescription information, diagnostic results, clinical
data and others. Home monitoring, clinical monitoring, assisted
living and telemedicine are among the major functions carried out by
M2M connected healthcare systems. M2M connected healthcare saves time
by connecting patients, healthcare providers and treatment systems
over the internet. The M2M connected healthcare systems can use wired
or wireless connectivity to share healthcare data between
web-connected devices without the need of human involvement.
The global market for M2M connected healthcare has been segmented
into home monitoring, clinical monitoring, clinical trials,
telemedicine, assisted living, worried well and clinical remote
monitoring. Significant advantages associated with M2M connected
healthcare have been identified as the major factors driving the M2M
connected healthcare market growth. These advantages include reduced
time, reduced healthcare cost, easy sharing of healthcare data and
remote healthcare monitoring. M2M model also enables patients with
more control over their treatment regime. Globally rising incidences
of various chronic diseases such as diabetes, cancer and hypertension
are also expected to play a key role in driving the market growth
during the forecast period from 2014 to 2020.
Persistent rise in geriatric population directly impacts the growth
and development of connected health M2M services as elderly
population is highly susceptible to acquire several health disorders
as compared to younger adults. According to World Health Organization
(WHO) projections, in 2010, global geriatric population was around
524 million and is anticipated to reach around 1.5 billion by the
year 2050. Thus, a consistent rise in geriatric population would
boost the growth of M2M connected healthcare market as they will
increasingly seek M2M connected health services. One of the major
factors that are expected to affect the market growth is that stake
holders should have access to internet connection.
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In terms of geography, the global market for M2M connected healthcare
has been segmented into four major regions, namely, North America,
Europe, Asia-Pacific (APAC) and Rest of the World (RoW). North
America represented the largest regional market for M2M connected
healthcare in 2013. Well established healthcare infrastructure of the
North American countries U.S. and Canada, and presence of a large
pool of technically-savvy patient population are among the major
factors responsible for North America’s leading position in this
market segment. Europe represented the second largest market after
North America. Germany, France, United Kingdom, Italy and Spain are
the most potential markets in the European region that accounted for
more than 60% of the overall Europe M2M connected healthcare market.
During the forecast period from 2014 to 2020, APAC is expected to
witness significant growth as M2M connected healthcare model will
help in serving patients residing in remote area, overcoming distance
barriers.
Allscripts, IBM, Apple, AirStrip Technologies, Cisco Networks,
Microsoft, AT&T, BL Healthcare, Ingenious Med, NeuroVigil,
PharmaSecure, QxMD Software, WellDoc and ObTech Medical are among the
major players operating in this market. These players are competing
with each other in order to get competitive advantages over others.
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