Internet of Medical Things (IoMT) Market
Growth Factors of Internet of Medical Things (IoMT) Market
The Internet of Medical Things (IoMT) Market size was valued at USD 47.32 billion in 2023. The market is projected to grow from USD 60.03 billion in 2024 to USD 814.28 billion by 2032 at a CAGR of 38.5% during the forecast period of 2024-2032.
The COVID-19 pandemic appreciably elevated the adoption of the Internet of Medical Things (IoMT) because of the surge in demand for remote healthcare offerings. Hospitals and clinics sought IoMT devices for far flung tracking of patients to lessen in-character visits, limiting virus exposure. This led to an boom in telemedicine, linked medical devices, and home-primarily based healthcare solutions. Despite a few initial disruptions inside the supply chain, the pandemic created a lasting impact by way of pushing healthcare carriers to depend greater on IoMT technologies for actual-time monitoring, information evaluation, and ensuring continuity in patient care.
One fantastic fashion inside the IoMT marketplace is the combination of synthetic intelligence (AI) with related medical gadgets. AI-driven analytics enables healthcare professionals interpret tremendous amounts of statistics generated through IoMT gadgets, enabling more particular diagnostics and predictive care. For example, AI can examine real-time information from wearables to detect anomalies together with abnormal coronary heart quotes or blood sugar ranges. This convergence of AI and IoMT gadgets complements selection-making and offers personalized care, thus enhancing patient results and optimizing healthcare resource management.
A key using thing for the increase of the IoMT market is the growing incidence of persistent diseases inclusive of diabetes, heart disease, and respiratory disorders. These conditions require non-stop monitoring, which IoMT devices can offer remotely, reducing the want for frequent health facility visits. The increasing growing old populace is also using demand, as IoMT devices assist aged patients keep independence through monitoring crucial signs and symptoms, medication adherence, and emergency responses. This growing reliance on IoMT generation is remodeling the healthcare landscape through enhancing performance and accessibility in managing persistent situations.
Comprehensive Analysis of Internet of Medical Things (IoMT) Market
The Internet of Medical Things (IoMT) Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by . By Product include Stationary Medical Devices, Implanted Medical Devices, Wearable External Medical Devices. By Application include Telemedicine ,Medication Management, Patient Monitoring, Others. By End-user include Healthcare Providers, Patients, Government Authorities, Others.
The North America region lead the Internet of Medical Things (IoMT) Market share by benefitting a market size of USD 14.43 billion The regional growth is majorly attributable to the increasing adoption of remote patient monitoring devices and the launch of novel products..
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.
October 2023 – Dozee released Dozee Pro Ex, an ambulatory linked affected person tracking device, for the non-stop monitoring of patients.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 38.5% from 2024-2032
Unit Value (USD billion)
Segmentation 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 Geography
- North America (By Product, Application, End-user, and Country)
- U.S.
- Canada
- U.K.
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Brazil
- Mexico
- Rest of Latin America
- GCC
- South Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview: Start-ups Funding
- 4.2. Technological Advancements in IoMT Devices
- 4.3. Snapshot by Ways the IoMT Impacts Healthcare
- 4.4. Overview: New Application Areas
- 4.5. Key Industry Developments - Mergers, Acquisitions, and Partnerships
- 4.6. New Product Launches, By Key Players
- 4.7. Impact of COVID-19 on Global IoMT Market
- 4.8. Key Trends Accelerated by COVID-19
- 5. Global Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Product
- 5.1.1. Stationary Medical Devices
- 5.1.2. Implanted Medical Devices
- 5.1.3. Wearable External Medical Devices
- 5.2. Market Analysis, Insights and Forecast – By Application
- 5.2.1. Telemedicine
- 5.2.2. Medication Management
- 5.2.3. Patient Monitoring
- 5.2.4. Others
- 5.3. Market Analysis, Insights and Forecast – By End-user
- 5.3.1. Healthcare Providers
- 5.3.2. Patients
- 5.3.3. Government Authorities
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Geography
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Product
- 6.1.1. Stationary Medical Devices
- 6.1.2. Implanted Medical Devices
- 6.1.3. Wearable External Medical Devices
- 6.2. Market Analysis, Insights and Forecast – By Application
- 6.2.1. Telemedicine
- 6.2.2. Medication Management
- 6.2.3. Patient Monitoring
- 6.2.4. Others
- 6.3. Market Analysis, Insights and Forecast – By End-user
- 6.3.1. Healthcare Providers
- 6.3.2. Patients
- 6.3.3. Government Authorities
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
- 7. Europe Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Product
- 7.1.1. Stationary Medical Devices
- 7.1.2. Implanted Medical Devices
- 7.1.3. Wearable External Medical Devices
- 7.2. Market Analysis, Insights and Forecast – By Application
- 7.2.1. Telemedicine
- 7.2.2. Medication Management
- 7.2.3. Patient Monitoring
- 7.2.4. Others
- 7.3. Market Analysis, Insights and Forecast – By End-user
- 7.3.1. Healthcare Providers
- 7.3.2. Patients
- 7.3.3. Government Authorities
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Country/ Sub-region
- 7.4.1. U.K.
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Spain
- 7.4.5. Italy
- 7.4.6. Scandinavia
- 7.4.7. Rest of Europe
- 8. Asia Pacific Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Product
- 8.1.1. Stationary Medical Devices
- 8.1.2. Implanted Medical Devices
- 8.1.3. Wearable External Medical Devices
- 8.2. Market Analysis, Insights and Forecast – By Application
- 8.2.1. Telemedicine
- 8.2.2. Medication Management
- 8.2.3. Patient Monitoring
- 8.2.4. Others
- 8.3. Market Analysis, Insights and Forecast – By End-user
- 8.3.1. Healthcare Providers
- 8.3.2. Patients
- 8.3.3. Government Authorities
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Country/ Sub-region
- 8.4.1. Japan
- 8.4.2. Australia
- 8.4.3. China
- 8.4.4. India
- 8.4.5. Southeast Asia
- 8.4.6. Rest of APAC
- 9. Latin America Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Product
- 9.1.1. Stationary Medical Devices
- 9.1.2. Implanted Medical Devices
- 9.1.3. Wearable External Medical Devices
- 9.2. Market Analysis, Insights and Forecast – By Application
- 9.2.1. Telemedicine
- 9.2.2. Medication Management
- 9.2.3. Patient Monitoring
- 9.2.4. Others
- 9.3. Market Analysis, Insights and Forecast – By End-user
- 9.3.1. Healthcare Providers
- 9.3.2. Patients
- 9.3.3. Government Authorities
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Country/ Sub-region
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
- 10. Middle East & Africa Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Product
- 10.1.1. Stationary Medical Devices
- 10.1.2. Implanted Medical Devices
- 10.1.3. Wearable External Medical Devices
- 10.2. Market Analysis, Insights and Forecast – By Application
- 10.2.1. Telemedicine
- 10.2.2. Medication Management
- 10.2.3. Patient Monitoring
- 10.2.4. Others
- 10.3. Market Analysis, Insights and Forecast – By End-user
- 10.3.1. Healthcare Providers
- 10.3.2. Patients
- 10.3.3. Government Authorities
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Country/ Sub-region
- 10.4.1. GCC Countries
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. Boston Scientific Corporation
- 11.2.1.1. Overview
- 11.2.1.2. Products & Services
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. Financials (Based on Availability)
- 11.2.2. General Electric Company
- 11.2.2.1. Overview
- 11.2.2.2. Products & Services
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. Financials (Based on Availability)
- 11.2.3. Johnson & Johnson Services, Inc.
- 11.2.3.1. Overview
- 11.2.3.2. Products & Services
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. Financials (Based on Availability)
- 11.2.4. Medtronic
- 11.2.4.1. Overview
- 11.2.4.2. Products & Services
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. Financials (Based on Availability)
- 11.2.5. Koninklijke Philips N.V.
- 11.2.5.1. Overview
- 11.2.5.2. Products & Services
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. Financials (Based on Availability)
- 11.2.6. Siemens Healthineers AG
- 11.2.6.1. Overview
- 11.2.6.2. Products & Services
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. Financials (Based on Availability)
- 11.2.7. Cisco
- 11.2.7.1. Overview
- 11.2.7.2. Products & Services
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. Financials (Based on Availability)
- 11.2.8. IBM
- 11.2.8.1. Overview
- 11.2.8.2. Products & Services
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. Financials (Based on Availability)
- 11.2.9. Baxter (Hill-Rom Services, Inc.)
- 11.2.9.1. Overview
- 11.2.9.2. Products & Services
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Strategies
- 11.2.9.6. Financials (Based on Availability)
- 11.2.10. BIOTRONIK
- 11.2.10.1. Overview
- 11.2.10.2. Products & Services
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Strategies
- 11.2.10.6. Financials (Based on Availability)
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