Internet of Things in Healthcare Market Expected to Reach $332 Billion by 2027—Allied Market Research

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Internet of Things in Healthcare Market
Increase in demand for low-cost disease management and treatment and technological advancements of the smart devices across globe are boost growth of the market
PORTLAND, OR , UNITED STATES, October 14, 2020 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Internet of Things in Healthcare Market by Component, Application, and End User: Opportunity Analysis and Industry Forecast, 2019–2027,” the global internet of things in healthcare market was valued at $113.751 billion in 2019 and is expected to reach $332.672 billion by 2027, registering a CAGR of 13.20% from 2020 to 2027. The internet of things (IoT) is described as a network of physical devices that uses connectivity to enable the exchange of data. The internet of things in healthcare market is gaining popularity in the recent years owing to the rapid technological advancements, increasing investments from top players and its extensive applications in disease monitoring. Further, rise in prevalence of chronic diseases such as diabetes, asthma, COPD and others and increase in collaborative partnership among top players majorly supplement the demands in the global IoT in healthcare market. Alternatively, the high costs for IoT system integration, data privacy and security issues, lack of awareness among people, and the lack …

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