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Global Internet Of Medical Things (IoMT) Market Outlook 2025-2034: Growth Drivers, Share, And Trends
Internet Of Medical Things (IoMT) Market Outlook
The global internet of medical things (IoMT) market reached a value of nearly $79.63655 billion in 2024, having grown at a compound annual growth rate (CAGR) of 26.26% since 2019. The market is expected to grow from $79.63655 billion in 2024 to $239.76941 billion in 2029 at a rate of 24.66%. The market is then expected to grow at a CAGR of 23.95% from 2029 and reach $701.46243 billion in 2034.
What Strategies Are Being Adopted By Key Players In The Internet Of Medical Things (Iomt) Market?
The key players in the market are adopting extensive strategies in the centrifugal separator market such as:
• Enhancing business growth by forming strategic alliances.
• Strengthening operational capabilities through targeted acquisitions.
• Expanding market presence via partnerships and mergers.
• Leveraging collaborations to accelerate business development.
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To take advantage of opportunities, The Business Research Company suggests that internet of medical things (IoMT) companies enhance offerings:
• Creating next-generation continuous glucose monitoring systems.
• Designing all-inclusive solutions for ambulatory cardiac monitoring.
• Innovating smart devices for home healthcare applications.
• Building integrated healthcare solutions that merge cutting-edge medical devices with digital health technologies.
• Pursuing strategic partnerships to drive the development of advanced healthcare solutions
What Is Internet Of Medical Things (IoMT): Market Overview?
The internet of medical things (IoMT) encompasses a network of interconnected medical devices and applications that collect, analyze and transmit health data over the internet. These devices range from wearable fitness trackers to advanced implantable devices, all aimed at enhancing patient care, improving health outcomes and reducing healthcare costs. IoMT enables real-time monitoring, remote diagnostics and personalized treatment plans, making healthcare more proactive and accessible.
The internet of medical things (IoMT) market consists of sales, by entities (organizations, sole traders, or partnerships), of internet of medical things (IoMT) that are utilized by a diverse group of users, including healthcare providers, patients and government authorities. Healthcare providers use these devices for monitoring patient vitals, managing chronic diseases and streamlining hospital operations. Patients employ IoMT devices to track their health metrics, receive medication reminders and communicate with healthcare professionals remotely.
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Who Are The Major Companies Operating In The Global Internet Of Medical Things (IoMT) Market?
The top ten competitors in the market made up to 41.94% of the total market in 2024. Medtronic plc was the largest competitor with a 10.73% share of the market, followed by:
• GE HealthCare Technologies Inc.
• Siemens Healthineers
• Koninklijke Philips N.V.
• Boston Scientific Corporation
• Abbott Laboratories
• Johnson & Johnson
• Baxter International Inc. (Hill-Rom Holdings Inc.)
• Biotronik SE Co. & KG
• Google LLC (Fitbit
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