HEALTHCARE M2M MARKET ANALYSIS

Regional Analysis

Healthcare M2M Market: Regional Insights

North America region is dominating the healthcare M2M market, owing to growing concern for healthcare expenditure in this region. According to Organization for Economic Cooperation and Development (OECD), 2017, the U.S. has highest per capita health expenditure of around US$ 10,000. Healthcare M2M can reduce this cost at significant rate. It would also facilitate more outpatient visitor than inpatient visitors that cost highest among healthcare expenditures. Increasing prevalence of chronic disease also fuelling the growth of the healthcare M2M market. According to The International Diabetes Federation report in 2017, around US$3 77 Billion are spent annually in the U.S. in which diabetes accounted for around 52% of total healthcare expenditure. According to a study published in American College of Cardiology Journal in 2017, cardiovascular disease accounts for around 800,000 deaths in the U.S. annually, an average of one person dies from CVD every 40 seconds in the U.S. Healthcare M2M allows continuous monitoring of patients and timely follow up thereby helps in reducing sudden cardiac death. Furthermore, lack of skilled physician is expected to propel growth of the healthcare M2M market. According to study by the American Association of Medical Colleges the U.S. would have shortage of around 40,800 and 104,900 physicians by 2030. Difficulty in getting reimbursement in certain cases (Penalty through affordable care Act if patient readmitted to hospital after discharged within certain time) would also promote use of healthcare M2M market.

Economies such as China and India are expected to be lucrative for growth of the healthcare M2M market as these countries have highest world population and lack of proper healthcare facilities. Also, telemedicine facilities are expected to drive growth of the market in these regions over the forecast period.