The IoT in healthcare market includes a number of implanted, wearable, and stationary medical devices used in clinical research organizations, research and diagnostic laboratories, hospitals, clinics, and surgical centers, and defense and government institutions. In the healthcare industry, the Internet of Things can be put to several applications, including clinical operations and workflow management, inpatient monitoring, telemedicine, connected imaging, and medication management. Bluetooth low energy (BLE), ZigBee, satellite, Wi-Fi, near-field communication (NFC), and cellular are some of the key connectivity technologies involved in IoT in healthcare.

Considering that the global healthcare industry has been undergoing several changes in a bid to provide accessible, affordable, and quality patient care, advanced and cutting edge technologies are being developed to help the industry cope with these changes. The introduction of IoT in the healthcare sector has transformed the way health services are being delivered.

The nature of this market is immensely oligopolistic, wherein a handful of large, established players dominate the scene with strategies such as collaborative research and development, development of specialized products for specific applications, and acquiring startups with immense potential. This in turn, makes it difficult for smaller players and new entrants to venture into the IoT in healthcare market.