Internet of Medical Things Market: A Game Changer for Healthcare - Market Analysis 2024 | Boston Scientific Corporation, Koninklijke Philips N.V., GE HealthCare, Siemens Healthineers International AG, Medtronic, Honeywell International Inc

Latest Study on Internet of Medical Things Market

The Global Internet of Medical Things (IoMT) market reached US$ 49.82 billion in 2023 and is expected to reach US$ 459.78 billion by 2031, growing at a CAGR of 32.3% during the forecast period 2024-2031.

Internet of Medical Things (IoMT) Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Internet of Medical Things (IoMT) refers to a network of interconnected medical devices and applications that use the internet to collect, send, and analyze health data. These devices, which can range from wearable health monitors to hospital equipment, allow healthcare providers to monitor patients remotely, improve patient care, and enhance operational efficiencies. The IoMT ecosystem includes devices like heart rate monitors, insulin pumps, smart inhalers, and even connected diagnostic tools that provide real-time data to healthcare systems, enabling more accurate, personalized, and timely medical interventions. This integration of IoMT into healthcare is revolutionizing patient care, making it more efficient, accessible, and proactive.

List of the Key Players in the Internet of Medical Things (IoMT) Market:

Boston Scientific Corporation, Koninklijke Philips N.V., GE HealthCare, Siemens Healthineers International AG, Medtronic, Honeywell International Inc., Johnson & Johnson, Abbott, ResMed, BIOTRONIK among others.

Industry Development:

In September 2024, Senseonics Holdings, Inc. received approval from the U.S. Food and Drug Administration (FDA) for its next-generation Eversense 365 Continuous Glucose Monitoring (CGM) system, designed for individuals with Type 1 and Type 2 diabetes aged 18 and older. Eversense 365 is the world's first CGM system with a one-year wear time, marking a major advancement in diabetes management and technology. The system features a smart transmitter worn over the sensor, which sends data to a mobile app on the user's smartphone every 5 minutes. This transmitter is removable and can be taken on and off without removing the sensor.

Growth Forecast Projected:

The Global Internet of Medical Things (IoMT) Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Internet of Medical Things (IoMT) Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Internet of Medical Things (IoMT) Market:

By Component: Hardware [Wearable Devices, Stationary Devices, Implantable Devices, Others], Software [Device Management, Application Management

By Application: Telemedicine, Clinical Operations & Workflow Management, Smart Labs, Patient Monitoring, Remote Patient Monitoring, Healthcare Devices, Heart-rate Monitoring, Others

By End-User: Healthcare Providers, Homecare, Clinics, Research Institutes, Others

Regional Analysis for Internet of Medical Things (IoMT) Market:

The regional analysis of the Internet of Medical Things (IoMT) Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Internet of Medical Things (IoMT) market?

➠ Who are the leading manufacturers in the global Internet of Medical Things (IoMT) industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Internet of Medical Things (IoMT) industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Internet of Medical Things (IoMT) market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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