Healthcare IoT Market to Expand at 8.0% CAGR, Reaching USD 278.3 Mn by 2031 | Persistence Market Research Report

The global Healthcare Internet of Things (IoT) market is set to experience a significant transformation, driven by rapid digitalization and increasing demand for connected healthcare solutions. According to a new report by Persistence Market Research, the healthcare IoT market is expected to grow at a compound annual growth rate (CAGR) of 8.0%, expanding from USD 138.9 million in 2024 to USD 278.3 million by 2031. This upward trend reflects the growing emphasis on remote patient monitoring, personalized care, and efficient clinical workflows.

A surge in chronic diseases, aging populations, and the post-pandemic shift toward telehealth services are accelerating the adoption of IoT in healthcare. Among the key growth drivers are increased investments in healthcare infrastructure, government support for digital health technologies, and the ongoing evolution of artificial intelligence and data analytics. Remote patient monitoring is the leading segment due to its broad application in chronic disease management. Regionally, North America dominates the market, backed by advanced digital health infrastructure, supportive regulations, and high adoption of wearable medical devices.

Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): www.persistencemarketresearch.com/samples/31698

✅ Key Highlights from the Report

➤ The global healthcare IoT market is projected to reach USD 278.3 million by 2031.
➤ The market is growing at a stable CAGR of 8.0% during the forecast period.
➤ Remote patient monitoring emerged as the leading product segment in 2024.
➤ North America accounted for the largest market share, led by the U.S.
➤ Increased prevalence of chronic diseases is a major growth catalyst.
➤ Integration of AI and big data is enhancing real-time clinical decision-making.

Market Segmentation

The healthcare IoT market is segmented based on product type, including remote patient monitoring devices, wearable medical devices, telemedicine systems, and medication management tools. Among these, remote patient monitoring devices hold the largest share due to their capability to monitor vital signs in real time, improving patient outcomes and reducing hospital readmission rates. Wearables and telehealth platforms are also seeing rapid adoption as they enable on-the-go health tracking and remote consultation services.

In terms of end-users, the market is categorized into hospitals, clinics, homecare settings, and long-term care facilities. Hospitals dominate the segment, leveraging IoT to enhance operational efficiency, reduce clinical errors, and improve resource allocation. However, homecare settings are expected to grow at the fastest pace due to the rising preference for home-based care, especially for elderly patients and those with mobility constraints.

Regional Insights

North America leads the global healthcare IoT market, primarily due to the region's advanced healthcare systems, widespread insurance coverage, and government initiatives promoting digital health. The presence of major IoT healthcare solution providers in the U.S. further reinforces the region's dominance.

In contrast, the Asia-Pacific region is projected to witness the highest growth during the forecast period, driven by rising healthcare investments, growing smartphone penetration, and increasing demand for remote care solutions in countries like China, India, and Japan.

Market Drivers

The expanding geriatric population and rise in chronic diseases such as diabetes, cardiovascular disorders, and respiratory illnesses are major factors driving the market forward. Healthcare IoT enables proactive disease management and reduces healthcare costs through early diagnosis and treatment. The post-COVID-19 era has also ushered in widespread adoption of telehealth and remote monitoring, further accelerating market growth.

Market Restraints

Despite its promising trajectory, the healthcare IoT market faces challenges such as data privacy concerns, cybersecurity risks, and the high cost of IoT implementation. Inadequate interoperability between IoT devices and legacy healthcare systems hampers seamless integration. Moreover, a lack of standardized regulations across countries creates uncertainty among providers and technology developers.

Market Opportunities

The integration of AI, machine learning, and big data analytics with IoT devices presents a significant opportunity to enhance diagnostic accuracy and predictive health capabilities. Governments in emerging economies are actively supporting digital health transformation, creating a favorable environment for IoT adoption. The shift towards value-based healthcare models and personalized medicine also opens new avenues for smart, connected solutions.

Reasons to Buy the Report

☑️ Gain insights into a fast-growing market projected to reach USD 278.3 million by 2031.
☑️ Understand key drivers, restraints, and future opportunities influencing the industry.
☑️ Identify leading segments and regions to inform your strategic planning.
☑️ Access in-depth analysis of competitive landscape and emerging players.
☑️ Leverage forecasts and trend analysis to align with market developments.

✅ Company Insights

✦ Medtronic PLC
✦ GE Healthcare
✦ Koninklijke Philips N.V.
✦ Siemens Healthineers
✦ Cisco Systems, Inc.
✦ IBM Corporation
✦ Boston Scientific Corporation
✦ Honeywell Life Sciences
✦ Qualcomm Life
✦ Dexcom, Inc.

■ Recent Market Developments

■ In January 2024, Medtronic launched its new AI-integrated remote patient monitoring solution for cardiac patients, enhancing care delivery outside clinical settings.
■ In March 2024, GE Healthcare partnered with a leading cloud service provider to expand its IoT platform, focusing on advanced predictive analytics and seamless EHR integration.

Conclusion

The healthcare IoT market is on an upward trajectory, underpinned by technological advancements and evolving patient care models. From smart wearables to telehealth, the convergence of IoT and healthcare is reshaping how medical services are delivered and experienced. As challenges around data security and standardization are addressed, the future of connected healthcare looks increasingly promising.

With strong market potential, an expanding range of applications, and continuous innovation, healthcare IoT is not just a trend-it is the foundation for the next generation of patient-centered care. The insights offered in the Persistence Market Research report provide stakeholders with a clear understanding of how to navigate and thrive in this rapidly evolving market.

Contact Us:

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.