How big is the internet of medical things (iomt) market today, and what are its future growth expectations?
The internet of medical things (IoMT) market size has grown exponentially in recent years. It will grow from $79.64 billion in 2024 to $97.73 billion in 2025 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to aging population, increased network connectivity, increasing investment in healthcare, government initiatives.
The internet of medical things (IoMT) market size is expected to see exponential growth in the next few years. It will grow to $244.4 billion in 2029 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to rollout of 5g networks, telemedicine expansion, prevalence of chronic diseases, growing popularity of wearable devices, increasing adoption of electronic health records. Major trends in the forecast period include remote surgery, predictive healthcare, advancements in healthcare technology, artificial intelligence (AI) and machine learning (ML) integration, smart hospitals.
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How has the internet of medical things (iomt) market evolved, and what factors have shaped its growth?
The increasing use of connected medical devices is expected to propel the growth of the internet of medical things (IoMT) market going forward. Connected medical devices are equipment that can communicate and share data or other systems, often through wireless technology, for monitoring, diagnosing, or treating patients. Connected devices enhance real-time patient monitoring, streamline data collection and improve healthcare delivery by enabling IoMT technologies, leading to improved patient outcomes, reduced hospitalizations and greater operational efficiency in healthcare systems. For instance, in December 2022, according to the National Health Service UK-based government department in 2021/22, X-rays led with 21.8 million tests (up 30%), followed by ultrasound at 10.1 million (up 23%), CT scans at 6.7 million (up 21%), and MRI scans at 3.8 million (up 28%). All other imaging modalities also saw increases: fluoroscopy by 23%, nuclear medicine by 22%, SPECT by 39%, PET-CT scans by 20%, and medical photography by 11%. Therefore, the increasing use of connected medical devices drives the growth of the internet of medical things (IoMT) market.
What are the major segments of the internet of medical things (iomt) market?
The internet of medical things (IoMT) market covered in this report is segmented –
1) By Device Type: Wearable Devices, Stationary Devices, Implantable Devices, Other Devices
2) By Application: Data Assortment And Analysis, Real-Time Monitoring, Remote Medical Assistance, Tracking And Alerts, Other Applications
3) By End User: Healthcare Providers, Patients, Government Authorities, Other End Users
Subsegments:
1) By Wearable Devices: Smartwatches, Fitness Trackers, Health Monitoring Patches, Wearable ECG Monitors
2) By Stationary Devices: Smart Beds, Vital Sign Monitors, Connected Diagnostic Equipment, Telehealth Stations
3) By Implantable Devices: Pacemakers, Continuous Glucose Monitors, Neurostimulators, Drug Delivery Systems
4) By Other Devices: Home Health Monitoring Devices, Connected Inhalers, Medication Adherence Devices, Smart Thermometers
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Which companies dominate the internet of medical things (iomt) market?
Major companies operating in the internet of medical things (IoMT) market are Google LLC, Microsoft Corporation, Johnson & Johnson Services Inc., Siemens Healthineers AG, Roche Diagnostics Corporation, Cisco Systems Inc., Qualcomm Life Inc., Abbott Laboratories, Oracle Corporation, Honeywell International Inc., Medtronic PLC, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Zebra Technologies Corp., Smith & Nephew PLC, Otsuka America Pharmaceutical Inc., ResMed Inc., AptarGroup Inc., DexCom Inc., Masimo Corporation, iRhythm Technologies Inc., Merative L.P., Capsule Technologies Inc., Owlet Baby Care Inc., AgaMatrix Inc., AliveCor.
How will evolving trends contribute to the growth of the internet of medical things (iomt) market?
Major companies operating in the Internet of Medical Things (IOMT) market are focused on adopting new technological solutions, such as AI-enabled cath labs, to address cardiovascular disease burden in India. An AI-enabled cath lab is a specialized medical facility equipped with advanced imaging technology and artificial intelligence that enhances the precision and efficiency of cardiac procedures, facilitating real-time optimization of imaging parameters and supporting minimally invasive interventions. For instance, in September 2022, GE HealthCare Technologies, Inc., a US-based medical technology company, launched its first AI-enabled cath lab, the Optima IGS 320, aimed at enhancing cardiac care in India. Built at a new factory in Bengaluru under the Production Linked Incentive (PLI) scheme, the Cath lab incorporates GE’s proprietary AutoRight technology powered by Edison, which optimizes imaging and dose parameters in real-time. This innovation addresses the rising burden of cardiovascular diseases in India, particularly among younger populations, by facilitating minimally invasive procedures. The Optima IGS 320 supports interventional cardiologists with intelligent imaging, improving precision and reducing the overall complexity of procedures.
What are the key regional dynamics of the internet of medical things (iomt) market, and which region leads in market share?
North America was the largest region in the internet of medical things (IoMT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in internet of medical things (IoMT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Internet Of Medical Things (IoMT) Market Report 2025 Offer?
The internet of medical things (iomt) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The internet of medical things (IoMT) refers to the interconnected network of medical devices, equipment, sensors and software applications that collect, transmit and exchange healthcare-related data through the internet. The internet of medical things (IoMT) leverages the principles of the broader internet of things (IoT) concept to enhance healthcare by enabling remote patient monitoring, real-time data analysis and improved patient care.
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