Medical Thing (IoMT) Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Internet of Medical Thing Market Trends and Forecast

The future of the global internet of medical thing (IoMT) market looks promising with opportunities in the hospital & clinic, home care, and research institute markets. The global internet of medical thing market is expected to reach an estimated $140.7 billion by 2028 with a CAGR of 24% from 2023 to 2028. The major drivers for this market are emergence of 5G technology, growing adoption of connected devices in the healthcare sector, and increasing adoption of smart wearable gadgets for efficient patient monitoring and asset management.

Internet of Medical Thing Market

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown here.

Internet of Medical Thing Market by Segments

Internet of Medical Thing Market by Segment

The study includes trends and forecast for the global internet of medical thing market by product type, application, end use, and region, as follows:

Internet of Medical Thing Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

Smart Wearables

Point of Care Kits

Home Use Devices

Internet of Medical Thing Market by Application [Shipment Analysis by Value from 2017 to 2028]:

Telemedicine

Patient Monitoring

Medication Management

Others

Internet of Medical Thing Market by End Use [Shipment Analysis by Value from 2017 to 2028]:

Hospitals & Clinics

Home Care

Research Institutes

Internet of Medical Thing Market by Region [Shipment Analysis by Value from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Internet of Medical Thing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, internet of medical thing companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the internet of medical thing companies profiled in this report include:

GE healthcare

Koninklijke Philips

Medtronic MiniMed

LifeFuels

Meru Health

Breathometer

Carre Technologies

Internet of Medical Thing Market Insights

Lucintel forecasts that telemedicine will remain the largest segment over the forecast period due to the expanding use of this technology to enable real-time data sharing and efficient communication in the healthcare industry.

Hospitals & clinics will remain the largest segment due to increasing cases of chronic diseases, growing demand for regular health check -ups among patients, and rising acceptance of modern technology in healthcare facilities to monitor patients' health conditions.

North America will remain the largest region over the forecast period due to rising preference for self-health management among patients, presence of well-established healthcare infrastructure, and presence of key players in the region.

Features of the Internet of Medical Thing Market

Market Size Estimates: Internet of medical thing market size estimation in terms of value ($B)

Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Internet of medical thing market size by various segments, such as by product type, application, end use, and region

Regional Analysis: Internet of medical thing market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by product type, application, end use, and regions for the internet of medical thing market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the internet of medical thing market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the internet of medical thing market size?

Answer: The global internet of medical thing market is expected to reach an estimated $140.7 billion by 2028.

Q2. What is the growth forecast for internet of medical thing market?

Answer: The global internet of medical thing market is expected to grow with a CAGR of 24% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the internet of medical thing market?

Answer: The major drivers for this market are emergence of 5G technology, growing adoption of connected devices in the healthcare sector, and increasing adoption of smart wearable gadgets for efficient patient monitoring and asset management.

Q4. What are the major segments for internet of medical thing market?

Answer: The future of the global internet of medical thing (IoMT) market looks promising with opportunities in the hospital & clinic, home care, and research institute markets.

Q5. Who are the key internet of medical thing companies?

Answer: Some of the key internet of medical thing companies are as follows:

GE healthcare

Koninklijke Philips

Medtronic MiniMed

LifeFuels

Meru Health

Breathometer

Carre Technologies

Q6. Which internet of medical thing segment will be the largest in future?

Answer:Lucintel forecasts that telemedicine will remain the largest segment over the forecast period due to the expanding use of this technology to enable real-time data sharing and efficient communication in the healthcare industry.

Q7. In internet of medical thing market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to rising preference for self-health management among patients, presence of well-established healthcare infrastructure, and presence of key players in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the global internet of medical thing market by product type (smart wearables, point of care kits, and home use devices), application (telemedicine, patient monitoring, medication management, and others), end use (hospitals & clinics, home care, and research institutes), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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