Global Internet of Medical Things Market Size study & Forecast, by Product (Stationary Medical Devices, Implanted Medical Devices, and Wearable External Medical Devices), by Application (Telemedicine, Medication Management, Patient Monitoring, and Others)

Global Internet of Medical Things Market Size study & Forecast, by Product (Stationary Medical Devices, Implanted Medical Devices, and Wearable External Medical Devices), by Application (Telemedicine, Medication Management, Patient Monitoring, and Others), by End-user (Healthcare Providers, Patients, Government Authorities, and Others) and Regional Analysis, 2023-2030

Global Internet of Medical Things Market is valued at approximately USD 69.04 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 29.5% over the forecast period 2023-2030. The Internet of medical things refer to the interconnection of medical devices and healthcare systems through the Internet, enabling remote monitoring, data collection, and analysis for improved healthcare outcomes. The Internet of Medical Things Market is expanding because of factors such as increasing adoption of 5G technology and increasing penetration of connected devices.

According to Statista in 2022, The global installed base of Internet of Things (IoT) connected devices is expected to reach 30.9 billion units by 2025, showing a significant increase from the estimated 13.8 billion units in 2021. The market for 5G technology is experiencing significant growth due to its increasing popularity and investments in sophisticated 5G networks worldwide. According to Statista, global 5G subscriptions are estimated to reach 1.9 billion in 2023, projected to rise to 2.8 billion in 2024 and 5.9 billion by 2027. In addition, rising healthcare expenditure and the growing adoption of wearable health technology would create lucrative growth opportunities. However, a lack of infrastructure facilities and data security & privacy concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Internet of Medical Things Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the well-established healthcare systems, advanced IT infrastructure, and growing utilization of healthcare IT solutions. These factors have contributed to the growth of the Internet of Medical Things (IoMT) market in the region. Asia Pacific is the fastest growing region over the forecast period, owing to factors such as, increasing disposable income of consumers, growing health awareness, expanding social programs to enhance IT infrastructure, and rising investments in digital healthcare initiatives are increasing the adoption of advanced technologies in the healthcare sector.

Major market player included in this report are:
Boston Scientific Corporation
General Electric Company
Johnson & Johnson Services, Inc.
Neurometrix, Inc.
Koninklijke Philips N.V.
Siemens Healthineers AG
Cisco Systems, Inc.
International Business Machines Corporation
Hill-Rom Services, Inc.
BIOTRONIK SE & Co. KG

Recent Developments in the Market:
 In September 2022, The Wipro GE Healthcare Optima IGS320 cath lab is powered by AI. It enhances imaging vision to support accurate healthcare delivery and intelligence. During surgeries, social gantry mobility enables flexibility, which lessens the workload and draws the doctors' attention more.
 In March 2022, Microsoft Corporation demonstrated advancements in life sciences and healthcare through the release of Azure Health Data Services and the general availability of updates to Microsoft Cloud for Healthcare. After Nuance Communications was successfully acquired, Microsoft was in a unique position to use reliable AI to address pressing issues and transform healthcare for the good of all.

Global Internet of Medical Things Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product, Application, End-User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Stationary Medical Devices
Implanted Medical Devices
Wearable External Medical Devices

By Application:
Telemedicine
Medication Management
Patient Monitoring
Others

By End-User:
Healthcare Providers
Patients
Government Authorities
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Boston Scientific Corporation
General Electric Company
Johnson & Johnson Services, Inc.
Neurometrix, Inc.
Koninklijke Philips N.V.
Siemens Healthineers AG
Cisco Systems, Inc.
International Business Machines Corporation
Hill-Rom Services, Inc.
BIOTRONIK SE & Co. KG

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