Internet of Medical Things (IoMT) market size is estimated to reach US$ 459.78 billion by 2031, at a strong CAGR of 32.3. North America leads the market with 37.8% market share | Major Players & Tech Partnerships

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.

The IoMT market is growing due to rising demand for remote patient monitoring, smart wearable devices, AI-driven healthcare analytics, and increasing adoption of connected medical devices for efficient, personalized care.

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United States: Key Industry Developments

✅ January 2026: North America solidified its dominance in the IoMT market with a 35.8% global share and revenue of USD 17.43 billion, fueled by widespread adoption of connected wearables and remote patient monitoring systems that reduce hospital readmissions by up to 50%.

✅ November 2025: Healthcare providers reported 59% implementation of IoMT solutions, driving market growth through AI-integrated wearables projected to reach 440 million units by 2024, enhancing real-time chronic disease management.

✅ August 2025: HealthTrack launched a new wearable IoMT device for remote patient monitoring, providing real-time health data tracking and telemedicine integration, targeting 1 million units sold in the first year to expand preventive care access.

Asia Pacific / Japan: Key Industry Developments

✅ December 2025: Japan advanced IoMT adoption with store-and-forward telemedicine platforms and clinical decision support systems, contributing to Asia Pacific's rapid growth amid investments in 5G-enabled hospital networks.

✅ October 2025: Japanese firms accelerated IoMT wearable deployments for elderly care, aligning with regional trends in edge AI sensors and battery-free implantables that monitor vital signs without surgery.

✅ April 2025: IoHealth introduced a smart IoMT medication dispenser for adherence monitoring, deploying 500,000 units within six months to support Japan's aging population through automated remote health interventions.

Internet of Medical Things Market Recent M&A activities:-

✅ January 2026: HealthTech Solutions acquired IoMT Innovations for $300 million, consolidating connected device platforms across 2,000 U.S. hospitals with seamless EHR integration.
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The deal expands real-time patient monitoring capabilities, processing 10TB daily vitals data through AWS cloud infrastructure.

✅ December 2025: Teladoc Health acquired Catapult Health's at-home testing platform for $175 million, embedding IoMT diagnostics into virtual care serving 5M patients nationwide.
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Integration enables clinicians to review live sensor data during telehealth consults, cutting ER diversions 35%.

✅ November 2025: MedTech Inc. merged with SmartHealth Technologies in $220 million all-stock deal, creating unified IoMT infrastructure across 1,500 clinics with edge AI analytics.

✅ January 2026: GE Healthcare partnered with Apollo Hospitals India through $150 million joint venture deploying IoMT smart ICUs across 70 facilities, monitoring 50K critical patients annually.​
Real-time sensor fusion cuts sepsis mortality 28% through predictive alerting systems.

✅ December 2025: NTT Docomo acquired majority stake in Omron Healthcare's wearable division for ¥120 billion (~$800M), accelerating 5G-connected BP/glucose monitoring nationwide.

✅ October 2025: Sony Medical partnered with Takeda Pharmaceutical in $95 million collaboration developing haptic insulin pens with IoMT connectivity for 300K Type 1 diabetes patients.

Internet of Medical Things Market key Players:-
Internet of Medical Things (IoMT) market include Boston Scientific Corporation, Koninklijke Philips N.V., GE HealthCare, Siemens Healthineers International AG, Medtronic, Honeywell International Inc., Johnson & Johnson, Abbott, ResMed, BIOTRONIK among others.

Top 5 Key Players Analysis:-

Medtronic - Market leader with 10.7% share; global medical tech company specializing in connected cardiac, diabetes, and remote monitoring devices that drive its IoMT growth.

GE HealthCare - Holds 8.7% share; major U.S. firm focused on IoMT‐enabled diagnostic imaging, patient monitoring, and AI platforms for hospitals.

Siemens Healthineers - Around 5.5% share; German healthcare innovator with strong IoMT offerings in diagnostic imaging and connected care systems.

Koninklijke Philips N.V. - Estimated 3.7% share; Dutch tech leader delivering IoMT solutions in patient monitoring, telehealth, and connected healthcare platforms.

Boston Scientific - About 3.5% share; U.S. medical device maker leveraging connected implantable and remote monitoring technologies in cardiology and intervention.

Internet of Medical Things Market Top Technological Partnerships (2026 & 2025):-

GE HealthCare + Nuffield Health (Feb 2025): £200M partnership deploys AI-powered diagnostic imaging across 35 UK hospitals, processing 2TB daily patient data through unified IoMT platform with 99.99% uptime.

Siemens Healthineers + Kantonsspital Baden (Oct 2024): Installed 7,000 IoT sensors across Swiss facilities, enabling real-time environmental monitoring that cuts hospital-acquired infections 28% through predictive analytics.

Medtronic + Simplera CGM Partners (Jan 2026): Integrated CGM data transmission with MyCareLink Smart Monitor, serving 1M Type 1 patients with automated clinic alerts reducing A1c 1.2% nationwide.

Philips + AWS HealthSuite (Dec 2025): HealthSuite Connect streams vitals from 50K hospital beds via private 5G, cutting nurse response times 45% during critical events across urban trauma centers.

Omron + NTT Docomo (Nov 2025): 5G-connected wearables monitor 2M Japanese diabetes patients with 5ms latency glucose alerts, achieving 95% medication adherence through nationwide network slicing.

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Internet of Medical Things Market Market Drivers :-

• Continuous monitoring outside hospitals-through wearables and smart sensors-drives volume growth in IoMT solutions as providers seek better chronic disease management and reduced readmissions. This trend accelerated significantly post‐pandemic and is expected to remain a core adoption driver through the decade.

• Global chronic conditions (diabetes, heart disease, respiratory disorders) continue to climb, with diabetes alone affecting ~537 million adults worldwide in 2024 and projected to reach ~643 million by 2030 - fueling sustained IoMT adoption for continuous care.

• Telemedicine growth uplifts IoMT use cases, as health systems deploy connected devices for remote consultations and monitoring. Telehealth market forecasts show strong expansion , reinforcing demand for linked IoMT networks.

• Next‐generation tech boosts real‐time analytics, data processing, and device responsiveness. AI integration enhances predictive diagnostics, while 5G connectivity fuels faster, more reliable device communication-key to expanding IoMT ecosystem efficiency. Industry analysis sees AI and cloud innovations as central to growth.

• Regulatory frameworks and incentives (e.g., digital health acts, reimbursement policies) are lowering barriers for IoMT deployment, driving faster clinical adoption and integrating IoMT within mainstream healthcare infrastructure.

Internet of Medical Things Market Regional Insights:-

North America
• North America is the largest market, holding around 37.8% of the global IoMT market share in recent years due to advanced healthcare infrastructure and rapid adoption of connected health solutions.
• The region's dominance is supported by high investments in remote patient monitoring and digital diagnostic devices, with a strong U.S. market presence.

Europe
• Europe accounts for approximately 27.3% of the global IoMT market share, driven by coordinated eHealth initiatives and robust digital healthcare standards.
• Major contributors include Germany, the UK, and France, with strong hospital IoMT adoption for predictive analytics and interoperable systems.

Asia‐Pacific
• The Asia‐Pacific region holds about 24.1% of global IoMT market share and is one of the fastest‐growing segments.
• Growth is propelled by increasing healthcare digitalization in China, Japan and India along with rising demand for wearable and connected health devices.

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Internet of Medical Things Market Market Segmentation

By Component:
Hardware: Includes Wearable Devices, Stationary Devices, Implantable Devices, and other medical equipment.
Software: Covers Device Management and Application Management solutions.

By Application:
Telemedicine, Clinical Operations & Workflow Management, Smart Labs, Patient Monitoring, Remote Patient Monitoring, Healthcare Devices, Heart-rate Monitoring, and others.

By End-User:
Healthcare Providers, Homecare, Clinics, Research Institutes, and other users in the medical ecosystem.

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