Internet of Medical Things (IoMT) Market to Grow to $270.40 Billion by 2029


Published July 19, 2023

Internet of Medical Things (IoMT) market.Data Bridge Market Research has just completed and released a study report titled “ Global Internet of Medical Things (IoMT) market.” (including the United States, Europe, China, Japan, India, Southeast Asia and other regions). The report highlights opportunities and risks, and leverages this information to help readers make strategic and tactical decisions. The Forklift Trucks report encompasses the key developments of the market with respect to the present scenario and the upcoming progress. Data Bridge Market Research recently released a report titled “ Global Internet of Medical Things (IoMT) market.The report offers an in-depth analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces Analysis and competitive landscape.

Data Bridge market research analyzes that the Internet of Medical Things market, which was $48.69 billion in 2021, will grow to $270.40 billion by 2029 and is expected to experience a CAGR of 23.9% during the forecast period 2022 to 2029. It also includes expert insights, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Internet of medical things (IoMT), medical organizations are transforming healthcare into new ways to use medical equipment and gadgets. Offering 24-hour medical care and services, connected devices such as glucose monitors, ECG monitors, pulse oximeters, and blood pressure monitors are placed close to a patient’s body and ensure greater customer satisfaction.

Market definition

The role of medical technology in healthcare is changing rapidly thanks to the Internet of Medical Things (IoMT), a network of connected medical equipment, software programs, and healthcare systems and services. Healthcare organizations are using the medical Internet of Things to increase patient care from remote locations and streamline clinical workflow management.


  • Growing demand for connected devices

Technological development and better access to personal health care, the global Internet of Medical Things (IoMT) industry has grown. The global Internet of Medical Things (IoMT) market is expected to expand as a result of an increase in demand for connected devices in the healthcare sector. As a result, the future of the market is likely to remain robust and forward.

  • Increased demand for wearable devices

The use of wearable or autonomous devices for patient monitoring and asset management is a key driver in the expansion of the Internet of Medical Things (IoMT) market. In addition, the adoption of medical IoT is expected to increase in the coming years due to changes in consumer lifestyles and growing concerns about their health and related activities.

Recent development

  • In April 2021, the new Welch Allyn PanOptic Plus Ophthalmoscope and Welch Allyn MacroView Plus Otoscope were introduced by Hillrom, Inc.
  • In June 2021, when atrial fibrillation, often known as an irregular heartbeat, is best detected by the Reveal LINQ Insertable Cardiac Monitor (ICM), Medtronic announced a clinical trial for STROKE AF.

Some of the major players operating in the Internet of Medical Things Market are:

  • Siemens (Germany)
  • General Electric (USA)
  • Biotronik SE & Co. KG (Germany)
  • Medtronic (Ireland)
  • Boston Scientific Corporation (USA)
  • Hill-Rom Services, Inc. (United States)
  • Neurometrix, Inc. (United States)
  • Honeywell International Inc. (USA)
  • VitaConnect (USA)
  • EKso Bionics (USA)
  • BL Healthcare, Inc. (United States)
  • Koninklijke Philips NV (Netherlands)
  • Lenovo (China)
  • AliveCor, Inc. (United States)

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Market scope of the Internet of Medical Things (IoMT).


  • Hardware
  • Software
  • Services


Method of providing the service

Connectivity devices


  • Devices on the body
  • Healthcare providers
  • Medical devices for home use
  • Community
  • Others

Final user

  • hospitals
  • Clinics
  • Research institutes
  • academics
  • Home care
  • Others

Fundamental purpose of this market report

In the industry, every company has goals, but this report focuses on the most important ones, enabling you to gain insights into the competition, the future of the market, potential new products, and other actionable insights that can significantly increase your sales.

  • Factors affecting the size of this market and the growth rate.
  • Major changes to this market in the near future.
  • Notable market rivals worldwide.
  • Future scope and product prospects
  • Promising emerging markets for the future.
  • The market presents difficult challenges and threats.

Highlights of this market report:

  • Growth rate
  • Salary forecast
  • Consumption graph
  • Market concentration ratio
  • Secondary sector competitors
  • Competitive structure
  • Main restrictions
  • Market drivers
  • Regional bifurcation
  • Competitive hierarchy
  • Current market trends
  • Analysis of market concentration

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Some of the most important questions examined in the Business Intelligence report:

  • What are the key growth metrics for this global market during the forecast period?
  • Which key players are expected to hold the largest market share over the forecast period?
  • Who are the key suppliers and manufacturers in this market?
  • What are the main strategies adopted by the main market players for business development and geographical expansion?
  • Which end-use industries are likely to trigger high demand in the market over the forecast period?
  • What are the key segments of this market?
  • Which regional player would have expected to lead the global market in terms of size?
  • What is the impact of the novel coronavirus pandemic?
  • What obstacles must new players overcome to occupy an important position?

Key DBMR Health Reports:

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