Global Healthcare IoT To Grow by Nearly 38 Percent CAGR Through 2020, P&S Research Says

The global healthcare IoT market is expected to grow at a nearly 38 percent compound annual growth rate (CAGR) from 2015 to 2020, P&S Market Research said in a report released Tuesday. The global healthcare IoT market was valued at $24.67 billion in 2014, said P&S, and the "system and software" segment is expected to have the fastest growth through 2020, with a projected CAGR of almost 41 percent. "The global IoT in healthcare market is growing at a significant rate, due to increasing demand for advanced healthcare information system[s], and a growing prevalence of chronic and lifestyle associated diseases," P&S said in a news release. North America "dominated" the global healthcare IoT market in 2014, while the Asian market is expected to have the fastest growth during the forecast period, with a CAGR of nearly 42 percent, P&S said.