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Internet of Medical Things (IoMT) Market (Product Type - Stationary Medical Devices, Implanted Medical Devices, and Wearable External Medical Devices; Application - Telemedicine, Medication Management, Patient Monitoring, and Others; End User - Healthcare Providers, Patients, Government Authorities, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Internet of Medical Things (IoMT) Market (Product Type - Stationary Medical Devices, Implanted Medical Devices, and Wearable External Medical Devices; Application - Telemedicine, Medication Management, Patient Monitoring, and Others; End User - Healthcare Providers, Patients, Government Authorities, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Report Code: IGR01286 Category: Healthcare & Medical Devices Published: October, 2023

A recent report published by Infinium Global Research on internet of medical things (IoMT) market provides 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 global internet of medical things (IoMT) market.

Market Insight:

The global Internet of Medical Things (IoMT) market was valued at USD 159.51 billion in 2022 and is expected to reach USD 802.18 billion in 2030, with a CAGR of 19.50% during the forecast period 2023-2030.

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 the 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. Although, the opportunity within the IoMT market lies in leveraging data-driven healthcare analytics, which has the potential to unlock valuable insights and enable the delivery of highly personalized patient care, revolutionizing the healthcare industry.

Internet of Medical Things (IoMT) Market Size, Share | IGR

The North America 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.

Report Scope of the Internet of Medical Things (IoMT) Market:

Report Coverage Details
Market Size in 2022 USD 159.51 Billion
Market Size by 2030 USD 802.18 Billion
Growth Rate from 2023 to 2030 CAGR of 19.50%
Largest Market North America
No. of Pages 255
Market Drivers
  • An increase in awareness about health concerns among people and adaptation of digital technologies by the healthcare industry.

  • Awareness about the benefits of smart healthcare products is anticipated to propel the market growth.

Market Segmentation By Product Type, By Application, and By End User
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global internet of medical things (IoMT) market covers segments such as product type, 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 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 others.

The key players involved in the market such as Microsoft, Cisco Systems, Inc., Koninklijke Philips N.V., Prismetric Technologies Pvt. Ltd., IBM Corporation, GE Healthcare, Lenovo, Medtronic, Qualcomm Life (acquired by Francisco Partners), and Breathometer Inc..

Report Highlights:

The report provides deep insights into 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 the internet of medical things (IoMT) market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. 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.


Frequently Asked Questions (FAQ's)

The global internet of medical things (IoMT) market was valued at USD 159.51 Billion in 2022.
It is likely to grow at a CAGR of 19.50% during the forecast period 2023-2030.
The global internet of medical things (IoMT) market is estimated to reach USD 802.18 Billion by the end of 2030.
North America is anticipated to exhibit high demand for internet of medical things (IoMT) market during the forecast period.
Microsoft, Cisco Systems, Inc., Koninklijke Philips N.V., Prismetric Technologies Pvt. Ltd., IBM Corporation, GE Healthcare, Lenovo, Medtronic, Qualcomm Life (acquired by Francisco Partners), and Breathometer Inc..
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