Theme innovation landscape

Leading medical companies in the Internet of Things theme

Credit: Bert van Dijk/Getty images.

Powered by

The future of the medical industry will be shaped by a range of disruptive themes, with Internet of Things (IoT) being one of the themes that will have a significant impact on medical companies.A detailed analysis of the theme, insights into the leading companies, and their thematic and valuation scorecards are included in GlobalData’s thematic research report,Internet of Things (IoT) in Healthcare – Thematic Research. Buy the report here.

IoT describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. The IoT is a system of wireless, interrelated, and connected digital devices that can collect, send, and store data over a network without requiring human-to-human or human-to-computer interaction. For example, in the healthcare industry, IoT allows a range of medical devices to be connected to a server, allowing patients to monitor their health and connect to their healthcare providers remotely. IoT can also be used in R&D, clinical trials, supply chains, and manufacturing.

GlobalData forecasts that the market for IoT platforms for healthcare providers is expected to grow at a compound annual growth rate (CAGR) of 4.6% between 2020 and 2025. The pharma IoT market is expected to grow at a CAGR of 6.1% during the same period. Spending on IoT in the medical devices market is estiamted to grow at a CAGR of 6.6% over the period.

However, not all companies are equal when it comes to their capabilities and investments in the key themes that matter most to their industry. Understanding how companies are positioned and ranked in the most important themes can be a key leading indicator of their future earnings potential and relative competitive position.

According to GlobalData’s thematic research report, Internet of Things in Healthcare, leading adopters include: Boston ScientificGE HealthcareMedtronic, Roche Diagnostics, Royal Philips, Bupa, Centro Hospitalar Universitário Lisboa Central, Cleveland Clinic, and Moorfields Eye Hospital.

Insights from several of the top ranked companies

Boston Scientific

Boston Scientific is a medical device company that develops, manufactures, and markets devices used in a range of interventional medical procedures. The company’s RPM system, Latitude NXT, allows health care professionals (HCPs) to remotely monitor patients’ cardiac health and implanted device data.

GE Healthcare

GE Healthcare uses IoT technology like remote patient monitoring (RPM) and wearables, and provides services such as computerised data management, remote diagnostics, and repair of medical equipment.

Medtronic

As the world’s largest independent manufacturer of medical devices, including pacemakers, insulin pumps, defibrillators, and minimally invasive lumbar therapies, Medtronic is at the forefront of long-term trends in demographics, national health budgets, and chronic illness. These three factors combine to force the widespread adoption of RPM, shorter hospital stays, and home-based healthcare.

To further understand the key themes and technologies disrupting the medical industry, access GlobalData’s latest thematic research report on Internet of Things in Healthcare.

  • Philips
  • Apple
  • Hill-Rom
  • Alphabet
  • Siemens Healthineers
  • Stryker
  • Quest Diagnostics
  • Agilent Technologies
  • Qiagen
  • 3M
  • Nihon Kohden
  • Danaher
  • Becton Dickinson
  • Intuitive Surgical
  • Illumina
  • Teleflex
  • Garmin
  • Smith & Nephew
  • Thermo Fisher Scientific
  • Biotronik
  • Getinge
  • Edwards Lifesciences
  • Coloplast
  • Terumo
  • Microport

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article. 

GlobalData’s Thematic Scorecard ranks companies within a sector based on their overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of their future earnings and relative position within key strategic areas. 

Go to article: Home | Managing the medtech supply chainGo to article: Editor's letterGo to article: ContentsGo to article: Formacoat Company InsightGo to article: FormacoatGo to article: BriefingGo to article: News in NumbersGo to article: Latest NewsGo to article: Latest DealsGo to article: Project UpdatesGo to article: Trends & InsightGo to article: TelemedGo to article: Micro CrystalGo to article: In DepthGo to article: Managing the medtech supply chain – what to expect in 2024 Go to article: Hospital 2040: how healthcare cybercrime is predicted to escalate  Go to article: The rise of generative AI in diagnostics Go to article: Future of robotics: Nanoflex gears up to launch robot for remote stroke intervenGo to article: Diagnostic imaging device innovation landscape for 2024 Go to article: Alleima Company InsightGo to article: AlleimaGo to article: Thematic TakeGo to article: Thematic Take: contentsGo to article: Foreword: What’s next for the Internet of ThingsGo to article: An introduction to the Internet of Things Go to article: The digital ecosystem of the IoTGo to article: Timeline: Internet of ThingsGo to article: The impact of IoT on the medical device industry Go to article: Applications of IoT in the medical device industryGo to article: Latest news: IoT in pharmaGo to article: Q&A with GlobalData analystGo to article: Bupa leverages unique position to develop IoT and AI features Go to article: IoT innovation: leaders in remote diabetes management Go to article: Leading medical companies in the Internet of Things themeGo to article: Deal activity related to Internet of Things in the medical device industry sinceGo to article: Internet of Things hiring trends in the global medical device industry since 202Go to article: IoT patent applications in the global medical device industry since 2021 Go to article: Mentions of Internet of Things in medical device industry company filings since Go to article: GlobalData Thematic IntelligenceGo to article: Sponsored supplementsGo to article: On Line ControlsGo to article: ListingsGo to article: EventsGo to article: Innovation RankingsGo to article: Buyer's GuidesGo to article: Next issue