United States Internet of Medical Things (IoMT) Market 2025 | Growth Drivers, Market Size, Trends, Forecast & Opportunities

Market Size and Growth

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.

Recent Mergers and Acquisitions Key Development:

United States: Recent Industry Developments

✅ In July 2025, HealthTech Solutions acquired IoMT Innovations for $300 million, consolidating its position in the IoMT market and expanding its portfolio of connected healthcare devices.

✅ In June 2025, MedTech Inc. merged with SmartHealth Technologies, forming a strategic partnership to advance IoMT infrastructure and develop integrated healthcare solutions.

✅ In June 2025, CloudWave acquired Sensato Ltd. to strengthen cybersecurity offerings for healthcare, enhancing its capabilities in securing IoMT devices and networks

Japan: Recent Industry Developments

✅ In August 2025, Japan's health tech market was projected to expand to 996.5 billion yen by 2025, driven by advancements in digital health technologies and government support.

✅ In June 2025, Japan's government continued to promote the integration of AI and IoT technologies in healthcare, aiming to enhance medical services and reduce costs through digital health initiatives.

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Internet of Medical Things (IoMT) refers to a network of connected medical devices, sensors, and applications that collect, transmit, and analyze health data in real time. IoMT enhances patient monitoring, remote care, diagnostics, and clinical decision-making, improving healthcare efficiency, safety, and personalized treatment outcomes.

Key Players:

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

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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Key Segments:

➥ 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:

⇥ 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:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Internet of Medical Things (IoMT) producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Internet of Medical Things (IoMT) revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Internet of Medical Things (IoMT) Market?

A: In 2023, the Internet of Medical Things (IoMT) Market was valued at US$ 49.82 billion, reflecting its strong industry presence.

Q2: How large is the Internet of Medical Things (IoMT) Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Internet of Medical Things (IoMT) Market will grow to around US$ 459.78 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Internet of Medical Things (IoMT) Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 32.3% during the forecast period from 2024 to 2031.

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