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Connected Health M2M: Introduction
Connected Health M2M is a remote health service delivery model that operates within the I.T. ecosystem. It facilitates the access and sharing of information about healthcare as well as the analysis of healthcare data. It manages medical data, as well as collaboration and communication among all stakeholders in the healthcare service network. Its main functions include clinical monitoring, home monitoring, first responder connectivity, clinical remote monitoring, connected medical environment, clinical trials, assisted living and asset management.
The Global Connected Health M2M Market Forecast:
In the last few years, healthcare has seen an increase in the use of machine-to-machine (M2M) technology to lower the cost of healthcare that is rising as well as increase the frequency of medication regimens and provide better healthcare for patients. Connected healthcare M2M is a type of healthcare delivery system that is part of an I.T. ecosystem. It permits the sharing and easy access of health-related data like medical history information of patients and personal data of the patient and prescription details, as well as clinical results, diagnostic results and many more. Clinical monitoring, assisted living, telemedicine and home monitoring are some of the primary tasks performed by M2M-connected healthcare systems. Under the M2M connected healthcare system, the time is saved due to the connectivity among patients, healthcare providers and treatment systems over the internet. The M2M connected systems for healthcare can utilize wireless or wired connectivity to share health information with web-connected devices without humans.
Market Trend and Dynamics of the Global Connected Health M2M Market:
The market worldwide for M2M-connected healthcare has been divided into clinical trials, clinical monitoring and telemedicine, assisted living, worried well, and the clinical remote monitor. Many advantages associated with M2M-connected healthcare have been identified as the most important factors that drive the market for M2M connected healthcare expansion. The benefits include faster treatment and cost of healthcare as well as the ease of sharing healthcare information and remote monitoring of health.
The M2M model can also provide patients to have more control over the treatment plan they are using. The rising prevalence of chronic illnesses like cancer, diabetes, and hypertension are expected to play a major part in driving the market's growth in the period of forecast between 2014 and 2020. A steady increase in the number of geriatrics directly affects the development and growth of connected health M2M services since the seniors are more likely to contract various health conditions in comparison to younger people.
Based on World Health Organization (WHO) projections, in 2010, the global population of geriatrics was 524 million. It is projected to increase to 1.5 billion by 2050. Therefore, a steady increase in the number of geriatric patients will help the growth of the M2M-connected health market since they will frequently seek M2M-connected healthcare services. One of the primary elements that will influence the growth of the market is that the stakeholder must be connected to the internet.
Based on geography, the global market for M2M-connected healthcare has been divided into four main regions: North America, Asia-Pacific (APA, Rest of the World (RoW) and Europe, In 2013, North America served as the largest market for regional M2M connected healthcare. The well-established healthcare infrastructure of Canada and the North American countries, the U.S. and Canada, and It has a huge pool of patients who are technically proficient are among the main reasons that have led to North America's top position in this market.
Europe was the second biggest market after North America. Germany, the United Kingdom, France, Spain and Spain are the top likely markets within the European region which comprised greater than 60 % of the total Europe M2M-connected healthcare market. Between the forecast time from 2014 to 2020, APAC will see significant growth due to the M2M-connected healthcare models that will assist in providing healthcare to patients in remote areas and overcome barriers to distance.
The Key Market Segmentation of the Global Connected Health M2M Market:
Global Connected Health M2M Market can be divided into Product Types, Applications, and Geographical landscapes, etc.
Connected Health M2M Market Segmentation By Product Type:
Connected Health M2M Market Segmentation By Application
Connected Health M2M Market Segmentation By Geographical Landscape:
Major Key Players in the Global Connected Health M2M Market Are:
The Global Connected Health M2M Market Report Highlights:
Growing Demand for Personalization of Patient Services To Boost The Market.
The global market for M2M services in healthcare is predicted to grow significantly in the coming years. This is due to various factors, including the growing demand for home telehealth and the rising prevalence of illnesses and the lack of resources. M2M equipment has sensors that can record specific physiological conditions of patients. They include brain image, pulse rate and heart rate. These recordings are then sent to an application that transforms the recorded data into useful information for physicians who is located far from the patient. M2M devices for healthcare help improve the quality of patient care and can be a great convenience for both the caregiver and the care recipient. It is anticipated that this will increase the global market for healthcare M2M worldwide in the future.
Growing Adoption of M2M Equipment In Hospital To Drive the Growth.
In addition hospitals face the challenge of being difficult to manage more patients due to the increase in the flow of patients. In these scenarios, M2M devices allow doctors to monitor patients in remote locations and lessen the burden on the healthcare infrastructure. This has led to a rise in the demand for M2M medical equipment in the market for healthcare.
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