At CAGR of 26.62% Internet of Medical Things Market Size Growing Rapidly, Report Includes Market Dynamics, Key Opportunities and Forecast 2027 | GE Healthcare, Koninklijke Philips NV, Welch Allyn Inc., Medtronic PLC

"Global Internet of Medical Things Market is valued at USD 36.55 Billion in 2019 and expected to reach USD 150.66 Billion by 2025 with a CAGR of 26.62% over the forecast period."

Scope of Global Internet of Medical Things Market Reports –
Internet of medical things comprise of a system of interconnected devices that are either linked to each other or with an external network. These instruments are capable of sharing data and information in between themselves through internet connectivity. It is the amalgamation of medical devices and applications that is used to connect health care information technology systems using networking technologies. It has the capability of reducing unnecessary hospital visits and burden on healthcare systems by linking patients to their physicians and permitting transfer of data over a secure network.

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Internet of Medical Things Companies:
Some major key players for global internet of medical things market are,

GE Healthcare
Koninklijke Philips NV
Welch Allyn, Inc.
Medtronic PLC
Cisco Systems, Inc.
IBM Corporation
Siemens AG
Biotronik Boston Scientific Corporation Johnson & Johnson Services Inc.
Others.

Global Internet of Medical Things Market Segmentation:–
By Device Type: Wearable Devices, Stationary Devices, Implantable Devices, Other Device Types

By Product Type: Vital Signs Monitoring Devices, Implantable Cardiac Devices, Respiratory Devices, Anaesthetic Machines, Imaging Systems, Ventilators, Other Products

By End-User: Hospitals, Clinics, Other End Users

Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa

Global Internet of Medical Things Market Dynamics–

Increasing patient engagement in decision making, growing technological adaptation and growing prevalence of chronic diseases are the major factors of driving the growth of internet of medical things market. To use this technology, existing medical devices are being modified into IoMT devices to sense real-time data for patient monitoring through enhancements such as sensors, signal convertors and communication modems. For instance; according to The International Agency for Research on Cancer (IARC), the global cancer burden is estimated to have increased to 18.1 million new cases and 9.6 million deaths in 2018 and globally, the total number of people who are alive within 5 years of a cancer diagnosis, named the 5-year prevalence, is estimated to be 43.8 million.

Global Internet of Medical Things Market Regional Analysis–

North America is expected to dominate the global IoMT market with highest share due to rise in prevalence of chronic diseases, increasing number of healthcare products introduced and growing research & development activities in this region. For example, in 2018, 34.2 million Americans, which are approximately 10.5% of the population, had diabetes. Among 34.2 million adults with diabetes, 26.8 million were diagnosed, and 7.3 million were undiagnosed and they need constant monitoring, which is provided through IoMT technology increasing the demand of the market.

Europe is the second dominating market due to high adoption of IoMT devices, high healthcare expenditure, and increasing awareness on healthcare products. For instance; cardiovascular diseases cause 3.9 million deaths in Europe which accounts for about 37% all death in Europe. The patients who suffer from heart related diseases need medical monitoring devices which can help them in emergency situations helping the IoMT market to expand in this region. Asia-Pacific is expected to have highest growth rate due to increased disposable income, growing awareness on technological advancement and government initiatives on improving healthcare infrastructure in this region.

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