Internet of Medical Things Market size is projected to grow USD 289.4 Billion by 2030, exhibiting a CAGR of 23.8% during forecast period 2022-2030. IoMT is a collection of medical devices and applications connected to healthcare IT systems through online computer networks. Medical devices equipped with Wi-Fi networks allow machine-to-machine communication which is the basis of IoMT technology. The IoMT devices link to cloud platforms such as Amazon Web Services or Microsoft’s Azure where the data is captured, stored, and subsequently analyzed.
The rising number of connected devices and the need for cost reduction in medicinal delivery are key factors driving the growth of the IoMT market. Moreover, the need for enhancing healthcare outcomes and the evolution of high-speed networking technologies such as low-power wide-area networks (LPWANs) and similar others are some of the promising areas of market advancement in IoMT devices. However, the lack of proper IoT technology skills across healthcare organizations is anticipated to hinder the growth of the IoMT market.
With several advantages like enhanced patient safety, reduced medical errors, seamless transfer of electronic health records (EHR), better disease management, remote monitoring of chronic diseases, and improved drug management, IoT medical devices have the potential to transform healthcare and improve patient outcomes while reducing costs and aiding healthcare providers in making informed care decisions with greater speed and ease.
The Internet of Medical Things (IoMT) Market has been segmented based on Component, Product Type, Application, Connectivity Technology, and Region.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Geographically, the global Internet of Medical Things (IoMT) market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America is expected to dominate the market with the largest share during the forecast period owing to the increasing number of smartphone users, greater penetration of 4G technology, and the need to address the increasing healthcare costs in the region. Asia-Pacific is expected to advance at the highest CAGR during the forecast duration owing to the government initiatives for the promotion of eHealth and the growing demand for quality healthcare products and services.
The Global Internet of Medical Things (IoMT) Market is characterized by the presence of several regional and local providers. Some of the key players in the market are
| Report Attribute/Metric | Details |
| Market Size | USD 289.4 Billion |
| CAGR | 23.8% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, Product |
| Geographies Covered | North America, Europe, Aisa Pacific |
| Key Vendors | GE Healthcare, Koninklijke Philips N.V., Medtronic plc, Cisco Systems, Inc., IBM Corporation, Siemens AG, Welch Allyn, Inc., Boston Scientific Corporation, Johnson & Johnson Services, Inc., Biotronik, Agamatrix, Sciencesoft, KORE Wireless, Telit, and STANLEY Healthcare |
| Key Market Opportunities | |
| Key Market Drivers | The rising number of connected devices and the need for cost reduction in medicinal delivery are key factors driving the growth of the IoMT market |
Internet Medical Things Market Highlights:
Frequently Asked Questions (FAQ) :
The global internet of medical things (IoMT) market is predicted to display a 23.8%CAGR from 2022 to 2030.
The market is anticipated to acquire USD 289.4 Billion By 2030.
Lack of technical personnel is the major challenge of the global internet of medical things (IoMT) market.
North America can lead in the global IoMT market.
Koninklijke Philips N.V., KORE Wireless, Cisco Systems, Inc., Welch Allyn, Inc., Agamatrix, Medtronic plc, Telit, IBM Corporation, Boston Scientific Corporation, Biotronik, Sciencesoft, Johnson & Johnson Services, Inc., GE Healthcare, Siemens AG, and STANLEY Healthcare are key players in the global internet of medical things market.
Rise of connected devices, low costs of healthcare services, and transmission of data to servers and online databases are major drivers of the global IoMT market?
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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