IoT in Healthcare Market to Reach US$390.2 Billion by 2031 as Connected Devices, Remote Monitoring, Workflow Automation and Asset Tracking Transform Care Delivery

NEW YORK, May 24, 2026 - According to DataM Intelligence, the global IoT in Healthcare Market reached US$120.2 billion in 2022 and is projected to reach US$390.2 billion by 2031, growing at a CAGR of 16.4% during 2024 to 2031. The market is segmented by component into medical devices, systems and software, and services, by application into telemedicine, clinical operations and workflow management, connected imaging, inpatient monitoring, medication management and others, and by end user into hospitals and clinics, clinical research organizations, research and diagnostic laboratories and others.

The global IoT in healthcare market is entering a high-growth digital infrastructure cycle as hospitals, clinics, laboratories and home-care providers increasingly rely on connected devices to improve monitoring, workflow, asset tracking and patient care. On a growth-multiple basis, the market is expected to expand nearly 3.25x, making IoT in healthcare one of the most commercially attractive digital health categories.

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Why IoT in Healthcare Is a Highly Sellable Market

IoT in healthcare is highly sellable because it combines connected medical devices, remote patient monitoring, digital workflow systems, healthcare software, telemedicine, asset tracking and real-time data analytics into one scalable market. Hospitals need IoT to improve clinical efficiency and patient safety. Home-care providers need connected devices to monitor patients outside traditional care settings. Laboratories and diagnostic networks need digital connectivity to improve operations and data visibility. This makes the market relevant across both institutional healthcare and decentralized care models.

The strongest commercial logic is simple: healthcare is becoming more connected, more remote and more data-driven. IoT-enabled devices can collect real-time patient information, support medication compliance, automate data capture, track equipment, monitor facility conditions and improve decision-making. DataM Intelligence identifies utilization of data analytics and predictive insights, growing use of wearable devices and fitness trackers, blockchain for data security, and AI-IoT integration as major trends reshaping the IoT in healthcare industry.

Connected Devices Become the Backbone of Digital Care

The market is segmented by component into medical devices, systems and software, and services. Medical devices include wearable external medical devices, implanted medical devices and stationary medical devices. Systems and software include remote device management, network bandwidth management, data analytics, application security and network security. Services include deployment and integration, consulting, support and maintenance. This broad structure makes IoT in healthcare commercially strong because it touches devices, platforms, cybersecurity, analytics and services at the same time.

Connected medical devices are becoming essential because they can continuously capture health data and transmit it to care teams. Wearables and fitness trackers can monitor indicators such as heart rate, blood pressure and sleep patterns in real time, while remote monitoring devices allow healthcare professionals to access updated patient information outside hospitals. DataM Intelligence notes that these capabilities support earlier detection of health risks and faster intervention.

Remote Patient Monitoring Creates a Major Growth Engine

Remote patient monitoring is one of the clearest demand drivers in the market. DataM Intelligence states that the need for remote patient monitoring has increased due to the aging population and demand for affordable healthcare services. IoT devices allow continuous monitoring outside traditional healthcare settings, reducing hospital readmission risks and improving patient care.

This is why IoT in healthcare is highly relevant for home care. Remote patient monitoring systems equipped with IoT sensors can monitor vital signs, medication compliance and overall health status. These systems help detect deteriorating conditions early and support timely interventions, reducing unnecessary hospital visits and improving patient outcomes.

Hospitals Need IoT for Workflow, Asset Tracking and Operational Visibility

The sellability of this market is not limited to patient monitoring. Hospitals and clinics also need IoT for clinical operations, workflow management, connected imaging, inpatient monitoring, medication management and asset tracking. DataM Intelligence identifies these applications as major market segments, showing that IoT is becoming a healthcare operations technology as much as a patient-care technology.

Asset tracking is especially important in hospitals, where equipment visibility can affect staff productivity, patient flow and care delivery. IoT technologies can help healthcare providers track medical devices, automate data collection, secure information distribution and reduce service costs. DataM Intelligence highlights that IoT technologies support remote patient monitoring, asset tracking, lower service costs and secure data automation.

Telemedicine Holds 29.6% Market Share

Telemedicine is one of the leading application segments, accounting for approximately 29.6% of the IoT in healthcare market share. DataM Intelligence links this growth to increasing demand for remote healthcare services, accelerated telemedicine adoption, rising need for chronic disease management and cost-saving opportunities associated with telemedicine implementation.

The telemedicine opportunity is becoming more powerful because connected medical devices can extend the value of virtual care. Instead of relying only on video consultations, IoT-enabled telemedicine platforms can transmit vital signs, patient records and real-time monitoring data. DataM Intelligence cites Qmed Asia's Qmed GO telehealth kiosk as an example of a cloud-connected telehealth solution capable of monitoring up to 16 vital parameters and supporting remote online consultations and diagnoses by licensed general practitioners.

AI and Predictive Analytics Raise the Market's Strategic Value

The integration of AI and IoT is making connected healthcare more intelligent. IoT devices generate continuous data, while AI and analytics can help convert that data into insights for early warning, patient risk assessment, workflow optimization and personalized care. DataM Intelligence identifies AI and IoT integration, predictive insights and healthcare data analytics as major market trends.

This trend makes IoT in healthcare commercially attractive because it moves the market beyond hardware. Connected devices are valuable, but their real strategic impact comes when they feed analytics platforms, remote care dashboards, clinical workflow systems and predictive monitoring tools. As healthcare systems shift toward proactive care, IoT-generated data is expected to become increasingly important for both clinical and operational decision-making.

North America Leads with 41.4% Market Share

North America accounted for approximately 41.4% of the IoT in healthcare market share in 2022, supported by technological advancement, government initiatives promoting digital platforms and the presence of major market players. DataM Intelligence identifies North America as the largest region in the market, while Asia Pacific is listed as the fastest-growing region.

The region's leadership is supported by strong digital health infrastructure and early adoption of IoT-based products and services. DataM Intelligence cites the January 2023 collaboration between Senet and Telli Health to develop remote patient monitoring devices powered by LoRaWAN technology, designed to help healthcare providers reach patients in rural and underserved areas.

Asia Pacific Becomes the Fastest-Growing Region

Asia Pacific is identified as the fastest-growing region in the IoT in healthcare market. The region's growth potential is supported by healthcare digitization, rising patient populations, growing chronic disease management needs, expanding telemedicine adoption and increasing demand for cost-efficient healthcare delivery.

The market's growth in Asia Pacific is also supported by the rise of connected healthcare startups, telehealth kiosks, wearable adoption and remote monitoring platforms. As healthcare systems across the region expand digital access, IoT-enabled tools can support decentralized care delivery, lower system burden and improve access in rural and underserved markets.

Data Security and Privacy Remain the Biggest Market Barriers

Despite strong growth prospects, data security and privacy remain major restraints. IoT healthcare devices collect and transmit sensitive patient information, making cybersecurity essential. DataM Intelligence notes that the widespread use of IoT devices raises concerns around unauthorized access, data breaches and the secure transmission and storage of patient information.

The risk is significant because connected medical equipment can be vulnerable to cyberattacks. DataM Intelligence cites Capterra's 2022 Medical IoT Survey, which found that healthcare organizations with more connected medical equipment are more likely to encounter cyberattacks; the report states that 67% of healthcare cyberattacks disrupt patient data and 48% affect patient care.

Competitive Landscape: Technology, Medical Device and Health IT Leaders Shape the Market

The global IoT in healthcare market includes major players such as Medtronic, Cisco Systems, Inc., IBM Corporation, GE Healthcare, Microsoft Corporation, SAP SE, Infosys Limited, Cerner Corporation, QUALCOMM Incorporated and Wipro Ltd. These companies compete across connected devices, healthcare software, cloud platforms, data analytics, interoperability, cybersecurity, remote monitoring and digital health infrastructure.

Recent developments show how the market is expanding across infrastructure, monitoring and cybersecurity. OXY AID launched India's first IoT-enabled mobile medical oxygen plant in November 2022. Securitas Healthcare launched AeroScout Links, a cloud-based IoT platform for monitoring care environment conditions, in March 2023. Cynerio also partnered with Sodexo in March 2023 to improve healthcare IoT cybersecurity visibility and threat remediation for hospitals and health systems.

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Strategic Outlook: IoT Becomes a Core Layer of Connected Healthcare

The IoT in healthcare market is positioned for strong growth because it directly supports the future of care delivery. Hospitals need connected systems for workflow, inpatient monitoring, asset tracking and medication management. Home-care providers need remote devices for continuous patient monitoring. Laboratories and diagnostic centers need connected infrastructure for data visibility and operational efficiency. Telemedicine platforms need real-time patient data to improve virtual care quality.

With the market projected to rise from US$120.2 billion in 2022 to US$390.2 billion by 2031, IoT in healthcare is becoming a core digital health infrastructure market. The next phase of growth will be shaped by remote patient monitoring, connected medical devices, AI-enabled analytics, telemedicine, hospital workflow automation, asset tracking, cybersecurity and Asia Pacific adoption momentum. Because hospitals and home-care providers increasingly need connected devices for monitoring, workflow and asset tracking, IoT in healthcare stands out as a highly sellable, scalable and strategically important healthcare technology category.

About the Report

The IoT in Healthcare Market report by DataM Intelligence analyzes the market by component, application, end user and region. Component coverage includes medical devices, systems and software, and services. Application coverage includes telemedicine, clinical operations and workflow management, connected imaging, inpatient monitoring, medication management and others. End-user coverage includes hospitals and clinics, clinical research organizations, research and diagnostic laboratories and others across North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

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