Healthcare M2M Market : Projection of Each Major Segment over the Forecast Period.

A variety of factors are pushing the demand for M2M solutions in the healthcare sector. The demand for reducing the gap between patients and physicians, the need for safer patient care, and substantial improvements in efficiency and accuracy are the crucial factors boosting the uptake of M2M connectivity solutions in healthcare.

The demand for better patient monitoring methods for a large part of populations suffering from chronic ailments is anticipated to boost the healthcare M2M market.

The lack of a standardized connected device platform among vendors is a key factor likely to hinder the healthcare M2M market to some extent. Nevertheless, with the proliferation of IoT, the adoption of M2M solutions will become more pervasive, which is expected to open promising opportunities for the development of a common platform for the delivery of M2M solutions.

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Geographically, North America is expected to dominate the healthcare M2M market throughout the forecast period. The increased deployment of healthcare M2M solution in this regional market is attributed to the several benefits, attributed mainly to patent-centric focus of a number of healthcare facilities. The regional market is projected to reach US$3.08 bn by the end of the forecast period.

Based on application, the healthcare M2M market is segmented into patient well-being, medical facilities, sports and fitness, implants, and research and education; of these the patient well-being segment is expected to occupy a gargantuan share in the market. The application of M2M technologies in the area of patient well-being is driven by the substantial benefits enjoyed by healthcare institutions in terms of operational improvements and reduced administrative costs.

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Some of the leading players operating in the healthcare M2M (machine-to-machine) market are Telefonica S.A., AT&T Inc., Vodafone Group plc, and GE Healthcare. Developing innovative healthcare data management methods and offering user-friendly IoT solutions are seminal factors governing the competitive dynamics in the market. Several players are keen on offering M2M solutions on cloud models to gain a competitive edge over others, finds Transparency Market Research (TMR).

The leading players are developing advanced M2M platforms that address remote patient monitoring and help in bridging the patient-physician gap. Numerous companies are entering into strategic alliances, in a move to consolidate their market presence and enhance their brand value. These M2M solutions are aimed at improving the affordability and quality of care, reducing administrative costs, and increasing the accuracy of diagnosis.

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