A recent report published by
Infinium Global Research on the internet of medical things (IoMT) market provides an in-depth analysis of segments and sub-segments in the global as well as
regional internet of medical things (IoMT) market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional internet of medical things (IoMT) market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecast
and dollar values of the global internet of medical things (IoMT) market. According
to the report, the global internet of medical things (IoMT) market is projected
to grow with a healthy CAGR over the forecast period of 2020-2026.
Internet of Medical Things (IoMT)
is comprehensively utilized in patient monitoring applications over connected
devices. The incorporation of IoT devices in healthcare processes helps improve
the efficiency of healthcare professionals and healthcare operations.
Furthermore, solution providers of the internet of medical things are offering
solutions that comprise software applications, the infrastructure of medical
devices, health systems, and professional services in order to increase the
performance of solutions. In addition, these connected devices help to gather,
produce, analyze, and transmit data to a centralized system for further usage.
The healthcare industry is implementing the internet of medical things to
increase efficiency in work by using IoT-connected devices. Moreover,
organizations and hospitals are adopting technology for remote patient
monitoring and to maintain patient records.
An increase in awareness about
health concerns among people and adaptation of digital technologies by the
healthcare industry is the main factor that boosts the growth of the market
during the forecast period. Furthermore, growth in awareness about the benefits
of smart healthcare products is anticipated to propel the market growth. Also,
smart wearable devices are projected to contribute the highest market share in
the growth of the internet of medical things (IoMT) market as people are getting
aware and there is a high craze among youth to purchase smart wearable devices,
for example, smartwatches and fitness bands. On the other hand, data security
and privacy concerns may hinder market growth. However, the current situation
of COVID-19 is a great opportunity for big vendors to market their products and
is estimated to provide lucrative opportunities for the internet of medical
things (IoMT) market.
Among the geographies, the North
American region is expected to hold the largest share in the global internet of
medical things (IoMT) market as countries such as the U.S. and Canada are the
front-runners of the adoption of new technology in the healthcare industry.
Further, factors such as technological advancements and numerous government
initiatives promoting the adoption of digital platforms in the life science
industry are the main factors contributing to the largest revenue share.
Furthermore, the Asia Pacific region is expected to witness a high growth rate
on the internet of medical things (IoMT) market over the forecast period due to
improving health IT infrastructure and increasing initiatives for promoting
connected health services, which is, in turn, anticipated to boost the demand
for internet of medical things (IoMT) in this region.
The report on global internet of
medical things (IoMT) market covers segments such as product type, component,
application, and end user. On the basis of product type, the sub-markets
include stationary medical devices, implanted medical devices, and wearable
external medical devices. On the basis of component, the sub-markets include
medical devices, system and software, and services and connected technology. On
the basis of application, the sub-markets include telemedicine, medication
management, patient monitoring, and others. On the basis of end user, the
sub-markets include healthcare providers, patients, government authorities, and
The report provides profiles of
the companies in the market such as GE Healthcare, Microsoft Corporation, Cisco
Systems Inc., Stanley Black & Decker, Inc., Medtronic plc, Koninklijke
Philips N.V., Qualcomm Life Inc., Breathometer Inc., Atlas Wearables, Inc., and
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of internet of medical things (IoMT) market. Moreover, the study
highlights current market trends and provides forecast from 2020-2026. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.