With 29.5% CAGR, Internet of Medical Things (IoMT) Market

Pune, India, Oct. 10, 2022 (GLOBE NEWSWIRE) — The global internet of medical things market size is projected to reach USD 187.60 billion by 2028 and exhibit a CAGR of 29.5% during the forecast period. The growing expenditure on IoT in healthcare and the increasing technological advancement in healthcare information technologies are anticipated to boost the growth of the market. Fortune Business Insights™ has presented this information in its report titled, “Internet of Medical things (IoMT) Market, 2021-2028”. The market size stood at USD 41.17 billion in 2020.
The adoption of the 4G network has created lucrative growth opportunities for the market. The introduction of high-speed networks is likely to enhance the telehealth industry and empower market growth. The growing adoption of 5G networks is also expected to amplify the growth of the market in the upcoming years.

Request a Sample Copy of the Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/internet-of-medical-things-iomt-market-101844

Internet of Medical Things (IoMT) Market Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 29.5%
2028 Value Projection USD 187.60 Trillion
Base Year 2020
Market Size in 2020 USD 41.17 Trillion
Historical Data for 2017 to 2019
No. of Pages 166

Drivers & Restraints-
Growing Investments in IoT in Healthcare to Fuel Market Growth
The internet of health things (IoMT) can reduce healthcare costs for governments and patients. The medtech companies with the internet of medical things focus on transforming the delivery of advanced healthcare to patients. The investments in the healthcare industry have significantly increased during the pandemic. The increasing investments in IoT to transform the healthcare sector are anticipated to bolster the global internet of medical things (IoMT) market growth.
The developments in mobile phone technology and the telecommunication industry are expected to create lucrative growth opportunities for the market. The adoption of the 4G network has created lucrative growth opportunities for the market. The introduction of high-speed networks and the growing adoption of 5G technology are likely to enhance the telehealth industry and empower market growth.
However, the risks of cyberattacks and data breaches loom large and may hinder the growth of the market.

For more information in the analysis of this report, visit:

https://www.fortunebusinessinsights.com/industry-reports/internet-of-medical-things-iomt-market-101844

COVID-19 Impact
The humanitarian crisis has significantly struck the healthcare industry. However, the demand for the internet of medical things has witnessed astronomical growth during the pandemic due to rapid digitization. The investments in healthcare have increased manifold during the pandemic. Virtual consultation has witnessed striking growth during the outbreak due to the fear of contracting the virus. As per an article by Onometra, there are approximately 48% of medical devices connected through the internet of things (IoT) in India. These numbers are expected to increase to 68% shortly. The market is projected to witness immense growth in the forthcoming years.

Segmentation-
On the basis of product, the market is trifurcated into wearable external medical devices, implanted medical devices, and stationary medical devices. On the basis of application, the market is segmented into patient monitoring, medication management, telemedicine, and others. On the basis of end-user, the market is fragmented into government authorities, patients, healthcare providers, and others. Geographically, the market is classified into five major regions- North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage-

  • The report offers a comprehensive assessment of the prospected market.
  • The report incorporates Porters’ Five Forces Analysis for an infallible market prediction.
  • The report highlights different market segments; product, application, end-user, and others.
  • The report highlights strategies of growth for companies to wade through the COVID-19 pandemic.
  • The report highlights the latest industry developments, new product launches, key market trends, and others.

Regional Insights –
Increasing Product Launches to Boost Growth in North America
North America is anticipated to gain the largest portion of the global internet of medical things (IoMT) market share. The increasing launch of ingenious products and the growing adoption of remote patient observation devices are expected to boost the growth of the market. Additionally, the robust sales of IoMT products and solutions in the US are likely to stimulate the market’s growth.
Europe is expected to witness the second-highest growth in the global market due to the rising government initiatives to boost the adoption of IoMT solutions in the healthcare industry.
Asia Pacific is projected to witness growth with the highest CAGR. The rising healthcare expenditure and the strong government support for the approval and launch of IoMT devices are anticipated to bolster the growth of the market.
The Middle East & Africa, and Latin America are likely to gain considerable growth due to improving investments in the healthcare industry and the growing awareness for IoMT devices and solutions.

QuickBuy- Internet of Medical Things (IOMT) Market Research Report:

https://www.fortunebusinessinsights.com/checkout-page/101844

Competitive Landscape-
Key Players Emphasize New Product Launches to Garner Growth in the Market
The market is fairly fragmented and comprises several key players, including Johnson & Johnson, Medtronic, Siemens Healthline, and Koninklijke Philips NV, with the largest shares in the market. The key players focus on the development of new products, patents, technological advancements, collaborations, acquisitions, mergers, and others to generate greater revenues and improve their market presence. Most recently, Philips and Cognizant signed a collaborative agreement in July 2021 to develop end-to-end digital solutions. The collaboration is aimed to accelerate clinical trials and enhance patient care.

Industry Developments-

  • September 2020: Philips unveiled Philips Avent electric breast pump, Philips Sonicare teledentistry, and others to enhance services to patients in homecare settings.

Key Players in the Internet of Medical Things market are:

  • Boston Scientific Corporation (Marlborough, the US)
  • General Electric Company (GE Healthcare) (Chicago, the US)
  • Johnson & Johnson Services, Inc. (New Brunswick, the US)
  • Medtronic (Dublin, Ireland)
  • Koninklijke Philips NV (Amsterdam, Netherlands)
  • Siemens Healthineers AG (Munich, Germany)
  • Cisco (San Jose, the US)
  • IBM (Armonk, the US)
  • Hill-Rom Services, Inc (Welch Allyn) (Indiana, the US)
  • BIOTRONIK (Berlin, Germany)

Have Any Query? Ask Our Experts:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/internet-of-medical-things-iomt-market-101844

Table of contents :

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restrictions
    • Market Opportunities
  • Key Insights
    • Startup Funding: Overview
    • Technological Advancements in IoMT Devices
    • Snapshot by Ways the IoMT Impacts Healthcare
    • New Application Areas: Overview
    • Key Industry Developments – Mergers, Acquisitions, and Partnerships
    • New Product Launches
    • Key Industry Trends
    • Impact of COVID-19 on Global IoMT Market
    • Key Trends Accelerated by COVID-19
  • Global Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product
      • Stationary Medical Devices
      • Implanted Medical Devices
      • Wearable External Medical Devices
    • Market Analysis, Insights and Forecast – By Application
      • Telemedicine
      • Medication Management
      • Patient monitoring
      • others
    • Market Analysis, Insights and Forecast – By End User
      • Healthcare Providers
      • patients
      • Government Authorities
      • others
    • Market Analysis, Insights and Forecast – By Geography
      • North America
      • Europe
      • Asia-Pacific
      • latin america
      • Middle East & Africa
  • North America Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product
      • Stationary Medical Devices
      • Implanted Medical Devices
      • Wearable External Medical Devices
    • Market Analysis, Insights and Forecast – By Application
      • Telemedicine
      • Medication Management
      • Patient monitoring
      • others
    • Market Analysis, Insights and Forecast – By End User
      • Healthcare Providers
      • patients
      • Government Authorities
      • others
    • Market Analysis, Insights and Forecast – By Country
  • Europe Internet of Medical Things (IoMT) Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product
      • Stationary Medical Devices
      • Implanted Medical Devices
      • Wearable External Medical Devices
    • Market Analysis, Insights and Forecast – By Application
      • Telemedicine
      • Medication Management
      • Patient monitoring
      • others
    • Market Analysis, Insights and Forecast – By End User
      • Healthcare Providers
      • patients
      • Government Authorities
      • others
    • Market Analysis, Insights and Forecast – By Country/ Sub-region
      • UK
      • Germany
      • France
      • Spain
      • Italy
      • Scandinavia
      • Rest of Europe

Knock Continue…

Ask for Customization of this Report:

https://www.fortunebusinessinsights.com/enquiry/customization/internet-of-medical-things-iomt-market-101844

Frequently Asked Question:

  1. How Much Internet of Medical Things (IoMT) Market Worth?
  • Internet of Medical Things (IoMT) Market size is projected to reach USD 187.60 billion by 2028 and exhibit a CAGR of 29.5% during the forecast period.
  1. What are the key factors driving the market?
  • Growing Investments in Internet of Medical Things Market in Healthcare to Fuel Market Growth

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various distinct challenges to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

E-mail: [email protected]

Leave a Comment

Your email address will not be published. Required fields are marked *

S-F-U