India IoT in Healthcare Market Outlook in 2028

India Io T in Healthcare Market Overview 

The India Io T in Healthcare Market size was valued at USD 1.95 billion in 2023. This growth is primarily driven by the increasing adoption of Io T technology in healthcare facilities for patient monitoring, telemedicine, and enhanced healthcare services. Factors such as the rising prevalence of chronic diseases, the growing aging population, and the need for cost-effective treatment solutions are further propelling the market. 

The key players in the market are Philips Healthcare, Siemens Healthineers, GE Healthcare, Medtronic, and IBM Watson Health. These companies are leading the market with their advanced Io T solutions and substantial investments in research and development to enhance their product offerings and expand their market presence. 

In 2023, Philips Healthcare indeed launched the Intelli Vue X3, a portable patient monitor designed for continuous monitoring during in-hospital transport and at the bedside. This device features an intuitive smartphone-style operation and offers a scalable set of clinical measurements, enhancing the ability of healthcare providers to monitor critical patients effectively.  

In 2023, Maharashtra emerged as the dominant region in the India Io T in Healthcare market, due to its advanced healthcare infrastructure, high adoption rate of digital health technologies, and supportive government initiatives.  

India Io T in Healthcare Market Segmentation 

The market is segmented in various factors like component, application, and region. 

By Component: The market is segmented by component into medical devices, systems and software, and services. In 2023, the medical devices segment held a dominant market share, due to the widespread adoption of wearable devices, such as fitness trackers and smartwatches, which help monitor patient health metrics in real-time.  

By Application: The market is segmented by application into telemedicine, clinical operations and workflow management, and inpatient monitoring. In 2023, telemedicine emerged as the leading application segment, accelerated the adoption of telemedicine, enabling healthcare providers to deliver remote consultations and care. The convenience and accessibility offered by telemedicine services have driven their popularity, with an increasing number of patients opting for virtual consultations. 

By Region: The market is segmented by region north, east, west, and south. In 2023, the north dominates due to the presence of advanced healthcare facilities and higher awareness about digital health technologies. States like Delhi and Uttar Pradesh are leading in the adoption of Io T solutions, driven by government initiatives and investments in healthcare infrastructure. 

India Io T in Healthcare Market Competitive Landscape 

Company Name
 

Establishment Year 

Headquarters 

Philips Healthcare 

1891 

Amsterdam, Netherlands 

Siemens Healthineers 

1847 

Erlangen, Germany 

GE Healthcare 

1892 

Chicago, USA 

Medtronic 

1949 

Dublin, Ireland 

IBM Watson Health 

1911 

Armonk, USA 

Medtronic: In 2022, Medtronic partnered with Bio Intelli Sense to exclusively distribute the Bio Button® multi-parameter wearable in the U.S. for continuous remote patient monitoring. This device, measuring up to 1,440 vital signs daily, supports proactive clinical intervention from hospital to home, enhancing patient care and workflow automation. 

GE Healthcare: In 2024, Amazon and GE Healthcare announced a collaboration to integrate generative AI into healthcare Io T devices. This partnership aims to enhance real-time patient monitoring and diagnostic accuracy. The initiative is projected to deploy over 5,000 AI-enabled Io T devices across Indian hospitals by the end of the year. 

India Io T in Healthcare Market Analysis 

Market Growth Drivers 

Increasing Prevalence of Chronic Diseases: In 2023, as per the Indian Council of Medical Research – India Diabetes (ICMR INDIAB) study published, the prevalence of diabetes is 10.1 crores (101 million), which necessitates continuous monitoring and management through Io T devices. This growing need for efficient disease management solutions is expected to boost the adoption of Io T in healthcare. 

Adoption of Telemedicine: The adoption of telemedicine has seen a significant rise in recent years. According to a report by the Ministry of Health and Family Welfare, over 2 million teleconsultations were conducted under the e Sanjeevani initiative by 2024. The integration of Io T in telemedicine allows for real-time patient monitoring and remote consultations, thereby enhancing healthcare accessibility and efficiency. 

Government Initiatives to Promote Digital Health: The Indian government has been actively promoting digital health initiatives. In 2022, the government allocated INR 1600 crore for the expansion of the Ayushman Bharat Digital Mission (ABDM). This mission aims to digitize health records and integrate Io T solutions to improve healthcare delivery. This substantial investment is expected to drive the adoption of Io T technologies in the healthcare sector. 

Market Challenges
 

Data Privacy and Security Concerns: In 2024, there were over 1,000 reported cases of healthcare data breaches in India, affecting millions of patient records. Ensuring the security of sensitive health information remains a critical challenge, necessitating robust cybersecurity measures to protect against unauthorized access and data breaches. 

Lack of Standardization: In 2024, the National Health Authority highlighted the need for standardized protocols to ensure compatibility between different Io T devices and systems. This lack of standardization can lead to fragmented systems, hindering the efficient implementation of Io T in healthcare. 

Government Initiatives 

National Digital Health Mission (NDHM): In 2024, the Indian government boosted the National Health Mission budget to ?36,000 crore for FY25. This increase aims to enhance healthcare infrastructure and integrate Io T solutions for improved patient care and monitoring, significantly driving the adoption of advanced healthcare technologies across the country. 

e Sanjeevani Telemedicine Service: The e Sanjeevani telemedicine service, an initiative by the Ministry of Health and Family Welfare, conducted over 2 million teleconsultations by 2024. The service integrates Io T solutions to enable remote patient monitoring and consultations, enhancing healthcare accessibility, especially in rural areas. This initiative highlights the government's commitment to leveraging Io T for improved healthcare delivery.  

India Io T in Healthcare Market Future Outlook 

The future of the market is expected to see the expansion of telemedicine services, integration of AI with Io T for predictive analytics, development of smart hospitals, and continued government initiatives for Io T adoption. 

Market Future Trends 

Integration of AI with Io T for Predictive Analytics: By 2028, it is projected that major of healthcare facilities in India will adopt AI-powered Io T solutions for real-time patient monitoring and predictive analytics. This integration will enable proactive healthcare management, improving patient outcomes and reducing hospital readmissions. 

Development of Smart Hospitals: By 2028, it is estimated that over 200 hospitals will be transformed into smart hospitals, leveraging Io T technology for efficient patient management and operational optimization. These smart hospitals will offer enhanced patient care and streamlined workflows, setting new standards in healthcare delivery.
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