Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Internet of Medical Things Market to reach USD 546.08 billion by the end of 2030.

Global Internet of Medical Things Market Size study & Forecast, by Product (Stationary Medical Devices, Implanted Medical Devices, and Wearable External Medical Devices), by Application (Telemedicine, Medication Management, Patient Monitoring, and Others), by End-user (Healthcare Providers, Patients, Government Authorities, and Others) and Regional Analysis, 2023-2030

Product Code: HLSHIT-21116061
Publish Date: 20-12-2023
Page: 200

Global Internet of Medical Things Market is valued at approximately USD 69.04 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 29.5% over the forecast period 2023-2030. The Internet of medical things refer to the interconnection of medical devices and healthcare systems through the Internet, enabling remote monitoring, data collection, and analysis for improved healthcare outcomes. The Internet of Medical Things Market is expanding because of factors such as increasing adoption of 5G technology and increasing penetration of connected devices.

According to Statista in 2022, The global installed base of Internet of Things (IoT) connected devices is expected to reach 30.9 billion units by 2025, showing a significant increase from the estimated 13.8 billion units in 2021. The market for 5G technology is experiencing significant growth due to its increasing popularity and investments in sophisticated 5G networks worldwide. According to Statista, global 5G subscriptions are estimated to reach 1.9 billion in 2023, projected to rise to 2.8 billion in 2024 and 5.9 billion by 2027. In addition, rising healthcare expenditure and the growing adoption of wearable health technology would create lucrative growth opportunities. However, a lack of infrastructure facilities and data security & privacy concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Internet of Medical Things Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the well-established healthcare systems, advanced IT infrastructure, and growing utilization of healthcare IT solutions. These factors have contributed to the growth of the Internet of Medical Things (IoMT) market in the region. Asia Pacific is the fastest growing region over the forecast period, owing to factors such as, increasing disposable income of consumers, growing health awareness, expanding social programs to enhance IT infrastructure, and rising investments in digital healthcare initiatives are increasing the adoption of advanced technologies in the healthcare sector.

Major market player included in this report are:
Boston Scientific Corporation
General Electric Company
Johnson & Johnson Services, Inc.
Neurometrix, Inc.
Koninklijke Philips N.V.
Siemens Healthineers AG
Cisco Systems, Inc.
International Business Machines Corporation
Hill-Rom Services, Inc.

Recent Developments in the Market:
Ø In September 2022, The Wipro GE Healthcare Optima IGS320 cath lab is powered by AI. It enhances imaging vision to support accurate healthcare delivery and intelligence. During surgeries, social gantry mobility enables flexibility, which lessens the workload and draws the doctors’ attention more.
Ø In March 2022, Microsoft Corporation demonstrated advancements in life sciences and healthcare through the release of Azure Health Data Services and the general availability of updates to Microsoft Cloud for Healthcare. After Nuance Communications was successfully acquired, Microsoft was in a unique position to use reliable AI to address pressing issues and transform healthcare for the good of all.

Global Internet of Medical Things Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, End-User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Stationary Medical Devices
Implanted Medical Devices
Wearable External Medical Devices

By Application:
Medication Management
Patient Monitoring

By End-User:
Healthcare Providers
Government Authorities

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Internet of Medical Things Market, by Region, 2020-2030 (USD Billion)
1.2.2. Internet of Medical Things Market, by Product, 2020-2030 (USD Billion)
1.2.3. Internet of Medical Things Market, by Application, 2020-2030 (USD Billion)
1.2.4. Internet of Medical Things Market, by End-User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Internet of Medical Things Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Internet of Medical Things Market Dynamics
3.1. Internet of Medical Things Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing adoption of 5G technology Increasing penetration of connected devices.
3.1.2. Market Challenges Lack of infrastructure facilities Data security & privacy concerns
3.1.3. Market Opportunities Rising healthcare expenditure Growing adoption of wearable health technology
Chapter 4. Global Internet of Medical Things Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Internet of Medical Things Market, by Product
5.1. Market Snapshot
5.2. Global Internet of Medical Things Market by Product , Performance – Potential Analysis
5.3. Global Internet of Medical Things Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Internet of Medical Things Market, Sub Segment Analysis
5.4.1. Stationary Medical Devices
5.4.2. Implanted Medical Devices
5.4.3. Wearable External Medical Devices
Chapter 6. Global Internet of Medical Things Market, by Application
6.1. Market Snapshot
6.2. Global Internet of Medical Things Market by Application , Performance – Potential Analysis
6.3. Global Internet of Medical Things Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Internet of Medical Things Market, Sub Segment Analysis
6.4.1. Telemedicine
6.4.2. Medication Management
6.4.3. Patient Monitoring
6.4.4. Others
Chapter 7. Global Internet of Medical Things Market, by End-User
7.1. Market Snapshot
7.2. Global Internet of Medical Things Market by End-User , Performance – Potential Analysis
7.3. Global Internet of Medical Things Market Estimates & Forecasts by End-User 2020-2030 (USD Billion)
7.4. Internet of Medical Things Market, Sub Segment Analysis
7.4.1. Healthcare Providers
7.4.2. Patients
7.4.3. Government Authorities
7.4.4. Others
Chapter 8. Global Internet of Medical Things Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Internet of Medical Things Market, Regional Market Snapshot
8.4. North America Internet of Medical Things Market
8.4.1. U.S. Internet of Medical Things Market Product breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End-User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Internet of Medical Things Market
8.5. Europe Internet of Medical Things Market Snapshot
8.5.1. U.K. Internet of Medical Things Market
8.5.2. Germany Internet of Medical Things Market
8.5.3. France Internet of Medical Things Market
8.5.4. Spain Internet of Medical Things Market
8.5.5. Italy Internet of Medical Things Market
8.5.6. Rest of Europe Internet of Medical Things Market
8.6. Asia-Pacific Internet of Medical Things Market Snapshot
8.6.1. China Internet of Medical Things Market
8.6.2. India Internet of Medical Things Market
8.6.3. Japan Internet of Medical Things Market
8.6.4. Australia Internet of Medical Things Market
8.6.5. South Korea Internet of Medical Things Market
8.6.6. Rest of Asia Pacific Internet of Medical Things Market
8.7. Latin America Internet of Medical Things Market Snapshot
8.7.1. Brazil Internet of Medical Things Market
8.7.2. Mexico Internet of Medical Things Market
8.8. Middle East & Africa Internet of Medical Things Market
8.8.1. Saudi Arabia Internet of Medical Things Market
8.8.2. South Africa Internet of Medical Things Market
8.8.3. Rest of Middle East & Africa Internet of Medical Things Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Boston Scientific Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. General Electric Company
9.3.3. Johnson & Johnson Services, Inc.
9.3.4. Neurometrix, Inc.
9.3.5. Koninklijke Philips N.V.
9.3.6. Siemens Healthineers AG
9.3.7. Cisco Systems, Inc.
9.3.8. International Business Machines Corporation
9.3.9. Hill-Rom Services, Inc.
9.3.10. BIOTRONIK SE & Co. KG
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now