IoT in Healthcare Market to Hit $716.8 Billion by 2030 as 20.3% CAGR Drives Expansion
Updated
Updated · openPR · May 11
IoT in Healthcare Market to Hit $716.8 Billion by 2030 as 20.3% CAGR Drives Expansion
1 articles · Updated · openPR · May 11
$716.8 billion is the projected size of the IoT in healthcare market by 2030, with growth forecast at a 20.3% compound annual rate.
AI-powered clinical decision support, telemedicine expansion, home healthcare adoption, smart-infrastructure investment and preventive-care demand are cited as the main forces behind that rise.
Remote patient monitoring, connected medical devices, real-time health analytics, smart hospitals and wearable technologies are expected to shape the market's next phase.
Cloud-based platforms are a key product focus for vendors; Philips in November 2023 launched HealthSuite Imaging, a cloud PACS with AI workflow tools for remote radiology access.
Beyond the multi-billion dollar hype, what hidden costs and regulatory hurdles could derail the healthcare IoT revolution?
If AI outperforms human doctors, who is legally responsible when the algorithm makes a fatal diagnostic error?