North America M2M Healthcare Market

North America M2M Healthcare Market Size (2022 to 2027)

The size of the m2m healthcare market in the North American region is estimated to grow to USD 6.96 billion by 2027 from USD 2.56 billion in 2022, growing at a CAGR of 22.13% from 2022 to 2027.

The growing need for patient monitoring in countries of the North American region is one of the significant factors promoting the M2M healthcare market in North America. Telehealth is the use of communication and medical equipment to track illnesses and symptoms, and the adoption of this medium is growing aggressively in this region. In addition, y-O-Y growth in the incidence of chronic diseases among the population of North American countries is anticipated to promote the growth rate of the market in this region. For instance, as per the statistics published by the American Heart Association, approximately 5 million Americans suffer from heart failure, with nearly 600,000 new instances being identified each year. Furthermore, patients can feel more secure about their heart health at home due to the M2M-enabled Reliant Heart Heart Assist Remote Monitoring System, HeartAssist5. It was developed in collaboration with Numerex and used the integrated, highly scalable, secure, cloud-based, and hosted Numerex FAST platform. This device is available in the U.S. under the evaluation of the FDA.

M2M devices are also majorly used for diabetes patients. Pre-diabetes affects one in three adult Americans. Blood sugar levels in a patient with pre-diabetes increase but not to the same levels as those in diabetes. Therefore, physicians suggest M2M devices monitor the sugar levels and predict the sugar levels in the body. The growing prevalence of diabetes is also anticipated to boost the market's growth rate during the forecast period.

On the other hand, factors such as lack of skilled professionals, high installation and maintenance costs of this technology, security, ownership of data, and availability of constant internet connection with reasonable speed are anticipated to hamper the growth of the M2M healthcare market in the North American region during the forecast period.

This research report on the North American m2m healthcare market has been segmented and sub-segmented into the following categories.

By Type:

• Wired
• Wireless

By Application:

• Remote Health Monitoring
• Clinical Monitoring
• Fitness and Wellness

By End-User:

• Hospitals
• Ambulatory Surgical Centers

By Country:

• The United States
• Canada
• Rest of North America

Throughout the globe, the adoption of M2M healthcare is growing at a promising pace, and the North American region has the fastest adoption. In 2021, the North American region occupied the largest share of the global market due to various factors, and the domination is also anticipated to fall in the coming years. Increasing smartphones in developed countries such as the U.S. for better life management is one of the major factors promoting M2M healthcare in the U.S. Technological advancements have allowed medical professionals to focus better on patient care. In recent years, smartphones have given healthcare professionals programmable monitoring platforms to go about their daily lives. It enables the users to get feedback on daily lifestyle decisions that help them better manage their health. A new generation of mobile phones that seamlessly integrate with a wide range of networks (like 3G, Bluetooth, wireless LAN, WCDMA, and GSM) have significantly influenced the development of such healthcare systems. As a result, doctors or patients can now receive recorded biomedical signals from a central server designed to house in a hospital, home, or office.

Y-O-Y growth in the aging population in this region is also favoring the North America M2M healthcare market. In addition, due to increased diseases in the region, there is an urgent need to find new ways to improve patient outcomes, reduce the cost of medical care and increase access to care. Advancements in sensor technology, the availability of cellular technology, and quality of life, decreasing prices of embedded communication devices are opening up new channels for prioritizing patient care. Healthcare providers, insurance payors, and the government aim to drastically change how the treatment is provided to patients while lowering the cost of care by using seamless, continuous remote patient health monitoring.

During the forecast period, the United States is expected to lead the North American market, followed by Canada.

KEY MARKET PARTICIPANTS:

AirStrip Technologies, BL Healthcare, IBM, PharmaSecure, Microsoft, Apple, Ingenious Med, Cisco Networks, NeuroVigil, and QxMD Software are some key players in the North American m2m healthcare market profiled in this report.