Deployment of Connected Medical Devices and Growing Applications of Internet of Medical Things Drives the Healthcare Connected Devices Market across Different Regions | UnivDatos Market Insights
NOIDA, India, May 7, 2021 /PRNewswire/ -- A comprehensive overview of the Healthcare Connected Devices Market is recently added by UnivDatos Market Insights to its humongous database. The Healthcare Connected Devices Market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Healthcare Connected Devices Market. The Healthcare Connected Devices Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Healthcare Connected Devices Market at the global and regional level. Healthcare Connected Devices Market was valued at more than USD 22 Billion in 2020, and it is expected to be almost USD 60 Billion by 2027, growing at a CAGR of 15.4% over the forecast period from 2021-2027.
Healthcare Connected Devices are applicable by the utilization of IoT, mHealth, and Artificial Intelligence in the healthcare sector. These devices are mostly used for remote patient monitoring, taking readings, observing patterns, and giving information to patients in case of deformity in patterns. Connected medical devices use wired or wireless connectivity to grab and monitor consumer data. This will decrease human error and give continuous and accurate data precisely. For this, 42 new Healthcare connected devices were approved by US FDA in the year 2019. Also, from July 2020, more than 22 healthcare connected devices have been authorized by FDA. Around three-in-ten Americans (31%) who live in households earning USD 75,000 or more a year claim, they wear a smartwatch or fitness tracker daily, compared to just 12% of those whose annual household income is less than USD 30,000.
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Internet of Medical Things allows medical devices to be connected to the cloud and applications. Connected devices are used as a portable diagnostic system that is utilized in-home for self-monitoring of patients. Per a network provider company in Aruba, nearly 85% of the healthcare industries across the globe will adopt IoMT services by 2019. Further, it was also observed that approximately 3,000 IT companies including healthcare and business administrators across 21 countries have introduced IoMT for enhancing patient monitoring, promoting innovations, and deducting costs.