Global Internet Of Medical Things IoMT Market Overview
From pregnancy testing kits to artificial joints, MRI scanners, and surgical instruments, the medical technology industry develops and designs a wide range of products. Technology is enabling these devices to generate, collect, analyse and transmit data, creating the Internet of Medical Things (IoMT). IoMT is a connected infrastructure of health systems and services. The IoMT helps health care organizations to achieve better patient outcomes, improve efficiency lower climbing health care costs, and activate new ways of engaging and empowering patients. The global internet-of-medical-things (IoMT) market accounted for US$ 24.4 billion in 2019 and is estimated to be US$ 285.5 billion by 2029 and is anticipated to register a CAGR of 28.0%.
Impact of Covid-19 pandemic on market
The outbreak of COVID-19 has raised the demand for a number of kits and rapid tests. As screening is being performed at a massive scale during this outbreak hotspot. There is a huge demand for Covid-19 screening as a crucial factor for revenue growth in this market space. Additionally, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who might need critical care. Besides, there is an urgent requirement for a rapid acceleration in the manufacturing process for an extensive range of test-kits. This report will quantify the impact of this pandemic on the internet-of-medical-things (IoMT) market.
Global Internet Of Medical Things IoMT Market Dynamics
Growing awareness about benefits of smart healthcare products
Real-time monitoring, reduction in medical expenditure, improved drug management, and improved patient outcomes are the various advantages benefits offered by the Internet of medical things. These factors are influencing the IoMT market growth. In addition, rise in research and development of advanced devices coupled with the improved efficiencies of smart healthcare devices and rise in awareness about them, are projected to attract high revenues in the coming years. Furthermore, growing prevalence of chronic diseases fuels the demand for smart healthcare thus, propelling the market size in the future.
Lack of skilled professionals towards IOT technology and high costs of IoT based medical devices act as major restraints for the target market growth. The reason behind the high cost is the need of the installation of software, hardware, networking infrastructure, training fees, & IT support.
Nevertheless, growing technological advancement supported by start-ups and increasing demand for point of care medical devices countries are anticipated to support the market growth over the forecast period.
Global Internet Of Medical Things IoMT Market Segmentation
The global internet-of-medical-things (IoMT) market is segmented based on the product type, services, application, end-user, and region.
On the basis of the product type, the global internet-of-medical-things (IoMT) market is segmented into smart wearable devices, home-use medical devices, and point-of-care kits. Based on the services, the target market is segmented into on-premise based services and cloud-based services. On the basis of application, the global market is bifurcated into real-time monitoring, end-to-end connectivity, data assortment & analysis, tracking & alerts, and remote medical assistance. Based on the end-user, the target market is segmented into hospitals & clinics, research institutes & academics, and homecare.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
In the region, the global internet-of-medical-things (IoMT) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, the Internet of medical Things market in North America is projected to register for major revenue share in the global market. This is mainly attributed due to the presence of major players in this region and early adoption of IoT technology by end-use industries in countries. Asia Pacific market is expected to witness fastest growth in terms of revenue, due to growing number of surgical centers and hospitals, and increasing demand for cloud-based solutions from multiple industrial verticals including healthcare industry.
Report Scope:
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Attribute |
Details |
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The base year for estimation |
2019 |
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Forecast period |
2019 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2019 – 2029 |
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Market Segmentation |
By Product Type - Smart Wearable Devices, Home-Use Medical Devices, and Point-Of-Care Kits By Services - On-Premise Based Services and Cloud-Based Services By Application - Real-Time Monitoring, End-to-End Connectivity, Data Assortment & Analysis, Tracking & Alerts, and Remote Medical Assistance By End-user - Hospitals & Clinics, Research Institutes & Academics, and Homecare |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global Internet-of-Medical-Things (IoMT) market report based on Product Type, Services, Application, and region.
Global Internet-of-Medical-Things (IoMT) Market, By Product Type:
- Smart Wearable Devices
- Home-Use Medical Devices
- Point-Of-Care Kits
Global Internet-of-Medical-Things (IoMT) Market, By Services:
- On-Premise Based Services
- Cloud-Based Services
Global Internet-of-Medical-Things (IoMT) Market, By Application:
- Real-Time Monitoring
- End-to-End Connectivity
- Data Assortment & Analysis
- Tracking & Alerts
- Remote Medical Assistance
Global Internet-of-Medical-Things (IoMT) Market, By End-user:
- Hospitals & Clinics
- Research Institutes & Academics
- Homecare
Global Internet-of-Medical-Things (IoMT) Market, By Region:
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-
- North America
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- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Internet Of Medical Things IoMT Market Key Players
The key players operating in the global internet-of-medical-things (IoMT) market include Medtronic Inc., Koninklijke Philips N.V., IBM Corporation, GE Healthcare, Qualcomm Life Inc., Cisco Systems Inc., Stanley Healthcare, Microsoft Corporation, Proteus Digital Health Inc., and Honeywell Care Solutions. Merger & acquisition, partnership and collaboration, R&D, and product launch, are the key strategies undertaken by market players across the world. For instance, in January 2019, Proteus Digital Health in partnership with Fairview Health Services and University of Minnesota Health launched a digital oncology medicines for cancer patients. It significantly helps in improving the outcomes of treatment. This digital technology aids the patients in completing their oral chemotherapy course and offers physician's with patient information.
Global Internet Of Medical Things IoMT Market Company Profile
- Medtronic Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Koninklijke Philips N.V.
- IBM Corporation
- GE Healthcare
- Qualcomm Life Inc.
- Cisco Systems Inc.
- Stanley Healthcare
- Microsoft Corporation
- Proteus Digital Health Inc.
- Honeywell Care Solutions
“*” marked represents similar segmentation in other categories in the respective section
Global Internet Of Medical Things IoMT Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary End-users
- Key Thickness Insights
- Secondary Data
- Major Secondary End-users
- Secondary End-users
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Internet-of-Medical-Things (IoMT) Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Services
- Market Snippet, By Application
- Market Snippet, By End-user
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Internet-of-Medical-Things (IoMT) Market, By Product Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Smart Wearable Devices
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Home-Use Medical Devices
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Point-Of-Care Kits
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Internet-of-Medical-Things (IoMT) Market, By Services, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- On-Premise Based Services
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Cloud-Based Services
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Internet-of-Medical-Things (IoMT) Market, By Application, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Real-Time Monitoring
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- End-to-End Connectivity
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Data Assortment & Analysis
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Tracking & Alerts
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Remote Medical Assistance
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Internet-of-Medical-Things (IoMT) Market, By End-user, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Hospitals & Clinics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Research Institutes & Academics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Homecare
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Internet-of-Medical-Things (IoMT) Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Services, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Services, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Services, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Services, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Services, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Medtronic Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Koninklijke Philips N.V.
- IBM Corporation
- GE Healthcare
- Qualcomm Life Inc.
- Cisco Systems Inc.
- Stanley Healthcare
- Microsoft Corporation
- Proteus Digital Health Inc.
- Honeywell Care Solutions
- Medtronic Inc.
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- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global internet-of-medical-things (IoMT) market is segmented based on product type, services, end-user, and region.
The major factor projected to drive the global market growth is growing awareness about the benefits of smart healthcare products.
Currently, the Internet of Medical Things market in North America is projected to register for major revenue share in the global market. This is mainly attributed due to the presence of major players in this region and the early adoption of IoT technology by end-use industries in countries.
Merger & acquisition, partnership and collaboration, R&D, and product launch, are the key strategies undertaken by market players across the world. For instance, in January 2019, Proteus Digital Health in partnership with Fairview Health Services and the University of Minnesota Health launched digital oncology medicines for cancer patients.