Internet Of Medical Things (Iomt) Market Top Players - Hill-Rom Services, Inc. (U.S.), Neurometrix, Inc. (U.S.), Honeywell International Inc. (U.S.), VitaConnect (U.S.), EKso Bionics (U.S.)

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Internet Of Medical Things (Iomt) Market - (Component (Hardware, Software, And Services), Platform (Device Management, Application Management, And Cloud Management), Mode Of Service Delivery (On-Premise And Cloud), Connectivity Services (Wired And Wireless), Applications (Telemedicine, Clinical Operations & Workflow Management, Connected Imaging, Medication Management, Inpatient Monitoring) And End-Use (Hospitals, Clinics, Academics, Research Institutes, Homecare))), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

"Internet of Medical Things (IoMT) Market" in terms of revenue was estimated to be worth USD 245.70 billion in 2024 and is poised to reach USD 1321.03 billion by the year 2034, growing at a CAGR of 18.4% from 2025 to 2034 according to a new report by InsightAce Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Internet of Medical Things (IoMT) Market are:
• Remote Patient Monitoring is a Major Driver.
• The rise of Wearable Devices is Driving the Market.
• Advanced Healthcare Analytics Drives the Market.

The following are the primary obstacles to the Internet of Medical Things (IoMT) Market's expansion:
• Data Security and Privacy Concerns Restricting Market Growth.
• Lack of Universal Standards.
• Limited Reimbursement Policies.

Future expansion opportunities for the global Internet of Medical Things (IoMT) Market include:
• Health Data Analytics and Predictive Modeling.
• Wearable Technology Integration.
• Remote Patient Monitoring and Chronic Disease Management.

Market Analysis:
The Internet of Medical Things (IoMT) market represents a rapidly evolving segment with considerable growth prospects and the potential to significantly transform the healthcare landscape. By integrating medical devices through connected technologies and advanced data analytics, IoMT facilitates improvements in remote patient monitoring, supports the expansion of telehealth services, and enhances the efficiency of healthcare delivery systems.

Market growth is further supported by the rising focus on preventive healthcare, increasing demand for personalized treatment solutions, and continuous advancements in medical research. Despite these opportunities, the widespread implementation of IoMT is challenged by critical issues such as data security vulnerabilities, interoperability constraints, and the absence of universally accepted regulatory standards. These factors may hinder the seamless integration of IoMT solutions across healthcare systems.

List of Prominent Players in the Internet of Medical Things (IoMT) Market:
• Siemens (Germany)
• General Electric (U.S.)
• Biotronik SE & Co. KG (Germany)
• Medtronic (Ireland)
• Boston Scientific Corporation (U.S.)
• Hill-Rom Services, Inc. (U.S.)
• Neurometrix, Inc. (U.S.)
• Honeywell International Inc. (U.S.)
• VitaConnect (U.S.), Ekso Bionics (U.S.)
• B.L. Healthcare, Inc. (U.S.)
• BioSerenity
• Koninklijke Philips NV. (Netherlands)
• Lenovo (China)
• AliveCor. Inc. (U.S.)

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Recent Developments:
• In Dec 2023, Medtronic plc agreed to expand its collaboration with Cosmo Intelligent Medical Devices, a Cosmo Pharmaceuticals subsidiary. This AI-driven association builds on the success of the GI GeniusTM intelligent endoscopy module, providing ongoing innovation and scalable healthcare breakthroughs for patients and caregivers globally. Medtronic and Cosmo Pharmaceuticals remain aimed at reinventing endoscopy by leveraging AI to improve patient outcomes. This strategic agreement strengthens Medtronic's leadership in AI-integrated healthcare products and marks a significant step in implementing AI into endoscopic treatment.
• In October 2023, SAP SE reported that Siemens Healthineers AG's digital transformation journey will be enabled by the RISE with SAP solution. Siemens Healthineers aims to leverage cloud innovation through this strategic partnership with SAP and the migration of its business processes. Siemens Healthineers intends to expand its operations and stay adaptable to the changing healthcare landscape and client demands by leveraging several cloud technologies, including SAP S/4HANA Cloud, private edition, SAP Business Technology Platform, and SAP Signavio.
• In November 2021, GE Healthcare introduced around 60 novel technology solutions for the healthcare industry, including patient screening, therapy planning, diagnostics, guidance, and monitoring. Amid a global pandemic and mounting industry pressures, the company accelerated innovations based on artificial intelligence (AI) and digital solutions to sustain and transform healthcare delivery, making it easier and more efficient for clinicians and health systems and more personalized and precise for patients.

Internet of Medical Things (IoMT) Market Dynamics
Market Drivers: Remote Patient Monitoring
The Internet of Medical Things (IoMT) is poised to unlock substantial growth opportunities in the healthcare industry, particularly in the area of remote patient monitoring. By enabling real-time tracking of patient health data, IoMT enhances clinical outcomes, streamlines care delivery processes, and contributes to cost reduction across healthcare systems. However, the market's progression is tempered by mounting concerns regarding data security and patient privacy. As healthcare providers increasingly adopt connected medical devices, the potential for data breaches and unauthorized access becomes a significant challenge. Addressing these risks requires the implementation of robust cybersecurity frameworks to ensure the protection of sensitive health information. Maintaining consistent network connectivity while simultaneously enforcing stringent data protection protocols remains a critical hurdle, especially as cyber threats become increasingly sophisticated.

Market Challenges: Data Security and Privacy
The expansion of the IoMT market is notably hindered by escalating concerns over data security and privacy. The interconnected nature of IoMT ecosystems elevates the risk of cyber intrusions and the unauthorized exposure of confidential medical records. Given the critical importance of safeguarding patient information, healthcare organizations must adhere to rigorous security protocols to prevent breaches and uphold regulatory compliance. Balancing seamless device interoperability with the enforcement of advanced cybersecurity measures continues to be a complex issue, particularly amid the growing frequency and sophistication of cyberattacks targeting the healthcare sector.

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North America Is Expected To Grow With The Highest CAGR During The Forecast Period
North America is expected to lead the Internet of Medical Things (IoMT) market, registering the highest projected Compound Annual Growth Rate (CAGR) over the forecast period. Despite this promising outlook, the region's growth potential is accompanied by several challenges. Disparities in regulatory frameworks, variations in healthcare infrastructure, and differing data privacy regulations across jurisdictions present notable impediments to market expansion. The lack of standardized protocols among healthcare systems, in conjunction with the need to comply with diverse regulatory mandates, may complicate the implementation of IoMT solutions for providers and stakeholders. Furthermore, the substantial initial capital investment required for the integration of IoMT technologies could hinder adoption, particularly among smaller healthcare organizations with limited financial resources.

Segmentation of the Internet of Medical Things (IoMT) Market-
By Component
• Hardware
• Software
• Services
By Platform
• Device Management
• Application Management
• Cloud Management
By Mode of Service Delivery
• On-Premise
• Cloud
By Connectivity Devices
• Wired
• Wireless
By Application
• Telemedicine
• Clinical Operations & Workflow Management
• Connected Imaging
• Medication Management
• Inpatient Monitoring
• Others
By End-User
• Hospitals
• Clinics
• Research Institutes
• Academics
• Homecare
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.