Smart healthcare market to grow by $115.4b until 2027

Thanks to the industry’s pivot towards IoT use.

The global market for smart healthcare is expected to grow by approximately $115.4 at an estimated compound annual growth rate (CAGR) of 9.26% until 2027, according to a Technavio report.

The market is driven by remote health monitoring amidst the growing use of the Internet of Things (IoT) and connected medical devices.

“IoT infrastructure is bridging the gap between physical and digital data sources, enabling real-time patient monitoring and improving access to healthcare services,” the report said.

Moreover, its adoption is being fueled by government initiatives and the growing penetration of smartphones and the Internet.

“Remote monitoring through mobile health and telemedicine is also a significant trend, enabling real-time tracking of vital signs like blood pressure, heart rate, oxygen level, and temperature,” it added.