Internet Of Medical Things (IoMT) Market on Track for Strong Growth, Estimated to Grow at 25.8% CAGR Through 2029

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What Will the Internet Of Medical Things (IoMT) Industry Market Size Be by 2025?
The size of the Internet of Medical Things (IoMT) market has seen a considerable enlargement in recent times. The market expansion will progress from $79.64 billion in 2024 to $97.01 billion in 2025, maintaining a compound annual growth rate (CAGR) of 21.8%. Factors contributing to the significant growth during the previous period include an aging population, improved network connectivity, growing investment in healthcare, and various government policies.

What's the Long-Term Growth Forecast for the Internet Of Medical Things (IoMT) Market Size Through 2029?
Expectations suggest that the market size of the Internet of Medical Things (IoMT) is set to experience a significant surge in the forthcoming years, with its value predicted to reach $242.72 billion in 2029, growing at a compound annual growth rate (CAGR) of 25.8%. Various factors contributing to this projected growth during the forecast period include the implementation of 5G networks, the broadening reach of telemedicine, the increasing prevalence of chronic diseases, the rising preference for wearable technology, and the growing acceptance of electronic healthcare records. Significant trends anticipated during the forecast period involve remote surgery, predictive healthcare, continuous technological progression in healthcare, the incorporation of artificial intelligence (AI) and machine learning (ML), and the development of smart hospitals.

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What Are the Key Growth Drivers Fueling the Internet Of Medical Things (IoMT) Market Expansion?
The growth of the internet of medical things (IoMT) market is anticipated to be fuelled by the rising utilization of connected medical devices. These devices are capable of communicating and exchanging data or other systems, often via wireless technologies, for patient monitoring, diagnosis, or treatment. The application of IoMT technologies is enhanced by connected gadgets, resulting in improved patient results, decreased hospital stays, and increased efficiency in healthcare systems. For example, in December 2022, the National Health Service, a UK government department, reported that in 2021/22, X-rays topped the list with 21.8 million tests (an increase of 30%), followed by ultrasounds at 10.1 million (up by 23%), CT scans at 6.7 million (up by 21%), and MRI scans at 3.8 million (a 28% increase). All other imaging techniques also saw growth: fluoroscopy by 23%, nuclear medicine by 22%, SPECT by 39%, PET-CT scans by 20%, and medical photography by 11%. Hence, the growth of the internet of medical things (IoMT) market is driven by the escalating usage of connected medical devices.

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What Are the Key Trends Driving Internet Of Medical Things (IoMT) Market Growth?
Leading firms in the Internet of Medical Things (IOMT) market are actively adopting cutting-edge technological systems such as AI-powered cath labs to tackle the escalating cardiovascular disease predicament in India. AI-integrated cath labs are special medical establishments fitted with sophisticated imaging technology and artificial intelligence to boost the accuracy and competence of cardiac procedures. This enhances real-time optimization of imaging parameters and aids in minimally invasive operations. For example, GE Healthcare Technologies, Inc., an American medical technology firm, launched its premier AI-powered cath lab, i.e., Optima IGS 320, in September 2022. This initiative is aimed at improving cardiac care in India. Constructed in a new facility in Bengaluru under the auspices of the Production Linked Incentive (PLI) scheme, the Cath lab uses GE's unique AutoRight technology supported by Edison to efficiently optimize imaging and dose parameters in real-time. This groundbreaking innovation tackles the growing cardiovascular disease problem in India and is specifically designed for younger populations making it more accessible for minimally invasive operations. The Optima IGS 320 supports interventional cardiologists by providing smart imaging, thereby increasing precision and simplifying the overall procedural complexity.

How Is the Internet Of Medical Things (IoMT) Market Segmented?
The internet of medical things (iomt)market covered in this report is segmented -

1) By Device Type: Wearable Devices, Stationary Devices, Implantable Devices, Other Devices
2) By Application: Data Assortment And Analysis, Real-Time Monitoring, Remote Medical Assistance, Tracking And Alerts, Other Applications
3) By End User: Healthcare Providers, Patients, Government Authorities, Other End Users

Subsegments:
1) By Wearable Devices: Smartwatches, Fitness Trackers, Health Monitoring Patches, Wearable ECG Monitors
2) By Stationary Devices: Smart Beds, Vital Sign Monitors, Connected Diagnostic Equipment, Telehealth Stations
3) By Implantable Devices: Pacemakers, Continuous Glucose Monitors, Neurostimulators, Drug Delivery Systems
4) By Other Devices: Home Health Monitoring Devices, Connected Inhalers, Medication Adherence Devices, Smart Thermometers

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Which Companies Are Leading the Charge in Internet Of Medical Things (IoMT) Market Innovation?
Major companies operating in the internet of medical things (IoMT) market are Google LLC, Microsoft Corporation, Johnson & Johnson Services Inc., Siemens Healthineers AG, Roche Diagnostics Corporation, Cisco Systems Inc., Qualcomm Life Inc., Abbott Laboratories, Oracle Corporation, Honeywell International Inc., Medtronic PLC, Becton dic*kinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Zebra Technologies Corp., Smith & Nephew PLC, Otsuka America Pharmaceutical Inc., ResMed Inc., AptarGroup Inc., DexCom Inc., Masimo Corporation, iRhythm Technologies Inc., Merative L.P., Capsule Technologies Inc., Owlet Baby Care Inc., AgaMatrix Inc., AliveCor.

Which Regions Are Leading the Global Internet Of Medical Things (IoMT) Market in Revenue?
North America was the largest region in the internet of medical things (IoMT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in internet of medical things (IoMT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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