The growth of the healthcare M2M market is driven by the growing prevalence of chronic diseases. Cancer is the second-leading cause of death in the world, with approximately 32.6 million people suffering from the disease. The growth of the Medical M2M market is being fueled by rising health expenses. According to a recent World Economic Forum report, the average cost of health care is approximately 9.6% of GDP. The financial burden of visiting hospitals is also increasing. Moreover, hospitals are known to incur high maintenance costs due to their expensive medical equipment. M2M systems would be a boon for every stakeholder in the healthcare industry. Further, technology is a viable solution to many current problems.
Several factors are driving the growth of the global medical M2M market. The rising prevalence of chronic diseases is driving the demand for cloud-connected wireless sensing solutions. These solutions will enhance the quality of care, support the latest innovations in aging in place, and support the self-management of chronic diseases. These benefits will ultimately benefit all stakeholders in the healthcare industry, including patients.
The rise in chronic diseases has been a major driver of the medical M2M market in the United States. According to the International Diabetes Federation’s latest Diabetes Atlas, there were 425 million people worldwide with diabetes in 2017. Meanwhile, cancer is the most prevalent non-communicable disease and the second-leading cause of death, with a global burden of 32.6 million. Thus, the global Healthcare M2M market will be fueled by the increasing incidence of chronic diseases.
Increased incidence of chronic diseases is driving the medical M2M market. The prevalence of diabetes in developing countries is estimated at 425 million, according to the International Diabetes Federation. Other chronic diseases are cancer and obesity. In the U.S., these are the two leading causes of death. These diseases require continuous monitoring, which may be difficult to do with physical infrastructure. This technology will allow physicians to do this. With increased awareness, it will be a game-changer.
Medical M2M is a technology that connects the various components of a medical care system. This technology can be used for many different purposes, from reducing costs to enhancing patient safety. It can be utilized by a variety of healthcare institutions, ranging from hospitals to outpatient clinics. It can also be used for fitness programs to help people stay healthy. As M2M continues to improve and expand, it will continue to have a significant impact on the world of healthcare. M2M solutions are compatible with established telemedicine systems and PC IT lifecycles, and the costs associated with these solutions can be diffused.
The healthcare M2M market is dominated by key players such as Apple Inc., Cisco Systems Inc., GE Healthcare, and Vodafone. Other prominent vendors include Abbott, AirStrip Technologies, and AirStrip Technologies. Among the most prominent vendors, AT&T Inc., Cisco Systems Inc., and Gemalto NV are leading companies in the market. Some other prominent companies in the medical M2M market are Honeywell, Samsung, and Google.