The internet of medical things (iomt) market size is expected to see exponential growth in the next few years. It will grow to $192.02 billion in 2028 at a compound annual growth rate (CAGR) of 24.6%. 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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Segmentation & Regional Insights
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
North America was the largest region in the internet of medical things (IoMT) market in 2023. 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.
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Major Driver Impacting Market 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 June 2021, according to a survey released by Statistics Canada, a Canada-based government agency, in 2020, one-quarter of Canadians (25%) used the Internet to track their fitness or health, such as to count steps or make meal plans, while over two-thirds (69%) used it to look for health-related information. In addition, 14% of Canadians reported using a wearable smart gadget with Internet access, such as a smartwatch, FitBit, or glucose monitor. Therefore, the increasing use of connected medical devices drives the growth of the internet of medical things (IoMT) market.
Key Industry Players
Major players 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.
The internet of medical things (iomt) market report table of contents includes:
- Executive Summary
- Internet Of Medical Things (IoMT) Market Characteristics
- Internet Of Medical Things (IoMT) Market Trends And Strategies
- Internet Of Medical Things (IoMT) Market – Macro Economic Scenario
- Global Internet Of Medical Things (IoMT) Market Size and Growth
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- Global Internet Of Medical Things (IoMT) Market Competitive Benchmarking
- Global Internet Of Medical Things (IoMT) Market Competitive Dashboard
- Key Mergers And Acquisitions In Internet Of Medical Things (IoMT) Market
- Internet Of Medical Things (IoMT) Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Google LLC
- Microsoft Corporation
- Johnson & Johnson Services Inc.
- Siemens Healthineers AG
- Roche Diagnostics Corporation
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