Internet of Medical Things (IoMT) Market set for rapid growth forecst 2019-2026| Key Players: Biotronik , GENERAL ELECTRIC COMPANY (GE Healthcare) , Boston Scientific Corporation ,Medtronic , Johnson & Johnson Services, Inc. ,Cisco Systems, Inc., Welch Al

The global internet of medical things (IoMT) market size is anticipated to reach USD 142.45 billion by 2026, with a CAGR of 28.9%, on account of the increasing prevalence of chronic diseases. This, coupled with the improving healthcare infrastructure and facilities worldwide, is primarily contributing to the growth of the market. Internet of medical things consists of a system of interrelated devices that are either connected to each other or with an external network. These devices are capable of sharing information amongst themselves with the help of internet connectivity. The advent of technological advancement in medical devices, coupled with the rise in disposable incomes of people, is anticipated to help increase the popularity of smart medical devices, ultimately boosting the Internet of Medical Things market growth.

According to a recent study by Fortune Business Insights(TM) titled, "Internet of Medical Things (IoMT) Market Size, Share & Industry Analysis, By Product Type (Stationary Medical Devices, Implanted Medical Devices, Wearable External Medical Devices), By Application (Telemedicine, Medication Management, Patient Monitoring, Others), By End User (Healthcare Providers, Patients, Government Authorities, Others) and Regional Forecast, 2019-2026,"the market value stood at USD 18.75 billion in 2018.The report highlights the major growth drivers, restraints, opportunities, key industry insights, and the overall competitive landscape. It also discusses the market segmentation in detail and list of key players with the major strategies adopted by them to gain a competitive edge in the market. Besides this, the report highlights some of the major internet of medical things (IoMT) trends and challenges, helping our readers to gain more insights.

The report covers :
o Global internet of medical things (IoMT) market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast time frame.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.

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An Overview of the Impact of COVID-19 on this Market :
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Leading Players operating in the Internet of Medical Things (IoMT) Market are :

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
o Biotronik
o GENERAL ELECTRIC COMPANY (GE Healthcare)
o Boston Scientific Corporation
o Medtronic
o Johnson & Johnson Services, Inc.
o Cisco Systems, Inc.
o Welch Allyn
o IBM Corporation
o Siemens Healthcare GmbH
o Koninklijke Philips N.V.
o Others

Increasing Awareness about Advantages of Smart Healthcare Products to Drive Market

The Internet of medical things offers various advantages such as real-time monitoring, improved drug management, improved patient outcomes, and a reduction in medical expenditure. The above factors are driving the IOMT market growth. Besides this, the improved efficiencies of smart healthcare devices, coupled with the rise in research and development of advanced devices and rise in awareness about them, are expected to attract high revenues during the forecast duration .More over, analysts at Fortune Business Insights(TM) also project the increasing prevalence of chronic diseases to propel the demand for smart healthcare further, boosting the market size in the future.

Rising Awareness about Advancement in Smart Healthcare to Help Asia Pacific Witness Significant Growth

North America is holding a dominant market share with a revenue generation of USD 5.87 billion as per 2018 records. This is attributable to the rise in the prevalence of chronic diseases. In addition to this, the increasing number of product launches in this region, coupled with the upsurge in research and development initiatives by major market manufacturers are anticipated to help increase the overall market size during the forecast duration.

However, the increasing disposable incomes of people, coupled with the rapid adoption of IoMT devices in Asia Pacific, will help this region rise significantly. Apart from this, the rising prevalence of chronic diseases will also help augment the overall medical things market growth in the coming years.

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