Internet Of Medical Things (IOMT) Market Size is valued at USD 245.70 billion in 2024 and is predicted to reach USD 1321.03 billion by the year 2034 at a 18.4% CAGR during the forecast period for 2025-2034
Key Industry Insights & Findings from the Report:
The role of medical technology in healthcare is rapidly transforming because of a network of connected medical equipment, software programs, and health systems and services. The medical Internet of Things assists healthcare organizations in streamlining their clinical processes. The need for the mobile healthcare technology, along with patient safety worries and attention, is growing globally, and these factors fuel the expansion of the market.
Technical advancements have driven this desire, which has increased the adoption of various IoMT systems and the demand for linked devices in the healthcare sector. This is anticipated to expand the Internet of Medical Things (IoMT) market. It is predicted that demand will increase. The dependence of the healthcare sector on connected devices is expected to increase demand for IoMT during COVID-19 and boost the technology adoption rate during the forecast period. The lack of infrastructure facilities and qualified professionals in the hospital and medical industries has restrained the growth of the market.
The market is segmented on the component, platform, service delivery, connectivity services, applications and end-use. The market is segmented based on components: hardware, software, and services. Based on the platform, the market is divided into device management, application management, and cloud management. Based on the mode of service delivery, the Internet of Medical Things (IoMT) market is bifurcated into on-premise and cloud. Based on connectivity services, the market is bifurcated into wired and wireless. Based on applications, the market is bifurcated and segmented into on-body, healthcare providers, home-use medical devices, community, and others. Based on end-use, the market is divided into hospitals, clinics, academics, research institutes, homecare, and others.
The market's leading segment is on-premises. Because on-premises software is widely used and users don't o have an internet connection to access data, the market segment is likely to dominate. Even though most organizations rely on the internet to do business, there is always a concern that a lost connection could reduce productivity and make it impossible to access vital data.
Hospitals & clinics grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. The rising prevalence of chronic diseases, expanding senior population, and rising consumer healthcare spending can all be related to this. Innovation and development of smart technologies to track patients' health problems in hospitals and clinics and the growing necessity for routine health check-ups have boosted the expansion of this market in recent years.
The North American internet of medical things (IoMT) market is expected to register the highest market share in revenue soon. Strong and well-established healthcare systems, enhanced IT systems, advanced telecommunications, and rising internet adoption all define North America. Other elements, including the expanding use of healthcare IT solutions, the presence of important companies, and the accessibility of advanced infrastructure, are all very important in explaining this region's considerable stake. Due to technological improvements and better access to personal healthcare, the North American Internet of Medical Things (IoMT) industry has grown.
Additionally, increasing consumer spending on health care, rising disposable income, and an increase in diseases have fueled market expansion in this region. In addition, Asia Pacific is projected to grow rapidly in the global internet of medical things (IoMT) market. The primary factors driving the Asia Pacific internet of medical things market are the improving discretionary income of customers, rising health consciousness, increasing social programs to expand IT facilities, and increased expenditures on digitally scanning the healthcare sector.
| Report Attribute | Specifications |
| Market size value in 2023 | USD 52.33 Mn |
| Revenue forecast in 2031 | USD 385.01 Mn |
| Growth rate CAGR | CAGR of 28.70% from 2024 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
| Historic Year | 2019 to 2023 |
| Forecast Year | 2024-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments covered | Component, Platform, Service Delivery, Connectivity Services, Applications And End-Use |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
| Competitive Landscape | Siemens (Germany), General Electric (U.S.), Biotronik SE & Co. KG (Germany), Medtronic (Ireland), Boston Scientific Corporation (U.S.), Hill-Rom Services, Inc. (U.S.), Neurometrix, Inc. (U.S.), Honeywell International Inc. (U.S.), VitaConnect (U.S.), EKso Bionics (U.S.), BL Healthcare, Inc. (U.S.), BioSerenity, Koninklijke Philips N.V. (Netherlands), Lenovo (China), AliveCor, Inc. (U.S.) |
| Customization scope | Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
| Pricing and available payment methods | Explore pricing alternatives that are customized to your particular study requirements. |
Internet of Medical Things (IoMT) Market By Component
Internet of Medical Things (IoMT) Market By Platform
Internet of Medical Things (IoMT) Market By Mode of Service Delivery
Internet of Medical Things (IoMT) Market By Connectivity Devices
Internet of Medical Things (IoMT) Market By Application
Internet of Medical Things (IoMT) Market By End-User
Internet of Medical Things (IoMT) Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Internet of Medical Things (IoMT) Market Snapshot
Chapter 4. Global Internet of Medical Things (IoMT) Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Component Estimates & Trend Analysis
5.1. by Component & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Component:
5.2.1. Hardware
5.2.2. Software
5.2.3. Services
Chapter 6. Market Segmentation 2: by Platform Estimates & Trend Analysis
6.1. by Platform & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Platform:
6.2.1. Device Management
6.2.2. Application Management
6.2.3. Cloud Management
Chapter 7. Market Segmentation 3: by Mode of Service Delivery Estimates & Trend Analysis
7.1. by Mode of Service Delivery & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Mode of Service Delivery:
7.2.1. On-Premise
7.2.2. Cloud
Chapter 8. Market Segmentation 4: by Connectivity Devices Estimates & Trend Analysis
8.1. by Connectivity Devices & Market Share, 2019 & 2031
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Connectivity Devices:
8.2.1. Wired
8.2.2. Wireless
Chapter 9. Market Segmentation 5: by Application Estimates & Trend Analysis
9.1. by Application & Market Share, 2019 & 2031
9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
9.2.1. On-Body Devices
9.2.2. Healthcare Providers
9.2.3. Home-Use Medical Devices
9.2.4. Community
9.2.5. Others
Chapter 10. Market Segmentation 6: by End-user Estimates & Trend Analysis
10.1. by End-user & Market Share, 2019 & 2031
10.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-user:
10.2.1. Hospitals
10.2.2. Clinics
10.2.3. Research Institutes
10.2.4. Academics
10.2.5. Homecare
10.2.6. Others
Chapter 11. Internet of Medical Things (IoMT) Market Segmentation 8: Regional Estimates & Trend Analysis
11.1. North America
11.1.1. North America Internet of Medical Things (IoMT) Market Revenue (US$ Million) Estimates and Forecasts by Component, 2024-2031
11.1.2. North America Internet of Medical Things (IoMT) Market Revenue (US$ Million) Estimates and Forecasts by Platform, 2024-2031
11.1.3. North America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Mode of Service Delivery, 2024-2031
11.1.4. North America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Connectivity Devices, 2024-2031
11.1.5. North America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Application, 2024-2031
11.1.6. North America Internet of Medical Things (IoMT) Market revenue (US$ Million) by End-user, 2024-2031
11.1.7. North America Internet of Medical Things (IoMT) Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
11.2. Europe
11.2.1. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by Component, 2024-2031
11.2.2. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by Platform, 2024-20312024
11.2.3. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by Mode of Service Delivery, 2024-2031
11.2.4. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by Connectivity Devices, 2024-2031
11.2.5. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by Application, 2024-2031
11.2.6. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by End-user, 2024-2031
11.2.7. Europe Internet of Medical Things (IoMT) Market revenue (US$ Million) by country, 2024-2031
11.3. Asia Pacific
11.3.1. Asia Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by Component, 2024-2031
11.3.2. Asia Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by Platform, 2024-2031
202411.3.3. Asia-Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by Mode of Service Delivery, 2024-2031
11.3.4. Asia Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by Connectivity Devices, 2024-2031
11.3.5. Asia Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by Application, 2024-2031
11.3.6. Asia Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by End-user, 2024-2031
11.3.7. Asia Pacific Internet of Medical Things (IoMT) Market revenue (US$ Million) by country, 2024-2031
11.4. Latin America
11.4.1. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Component, 2024-2031
11.4.2. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Platform, 2024-2031
11.4.3. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Mode of Service Delivery, 2024-2031
11.4.4. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Connectivity Devices, 2024-2031
11.4.5. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by Application, 2024-2031
11.4.6. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by End-user, 2024-2031
11.4.7. Latin America Internet of Medical Things (IoMT) Market revenue (US$ Million) by country, 2024-2031
11.5. Middle East & Africa
11.5.1. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by Component, 2024-2031
11.5.2. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by Platform, 2024-2031
11.5.3. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by Mode of Service Delivery, 2024-2031
11.5.4. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by Connectivity Devices, 2024-2031
11.5.5. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by Application, 2024-2031
11.5.6. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by End-user, 2024-2031
11.5.7. Middle East & Africa Internet of Medical Things (IoMT) Market revenue (US$ Million) by country, 2024-2031
Chapter 12. Competitive Landscape
12.1. Major Mergers and Acquisitions/Strategic Alliances
12.2. Company Profiles
12.2.1. Siemens (Germany)
12.2.2. General Electric (U.S.)
12.2.3. Biotronik SE & Co. KG (Germany)
12.2.4. Medtronic (Ireland)
12.2.5. Boston Scientific Corporation (U.S.)
12.2.6. Hill-Rom Services, Inc. (U.S.)
12.2.7. Neurometrix, Inc. (U.S.)
12.2.8. Honeywell International Inc. (U.S.)
12.2.9. VitaConnect (U.S.), EKso Bionics (U.S.)
12.2.10. BL Healthcare, Inc. (U.S.)
12.2.11. BioSerenity
12.2.12. Koninklijke Philips N.V. (Netherlands)
12.2.13. Lenovo (China)
12.2.14. AliveCor, Inc. (U.S.)
12.2.15. Other Prominent Players