Internet of Medical Things (IoMT) Market Size (2025 – 2030)

The Global Internet of Medical Things (IoMT) Market was valued at USD 60.10 billion in 2024 and will grow at a CAGR of 18% from 2025 to 2030. The market is expected to reach USD 137.49 billion by 2030.

The Internet of Medical Things (IoMT) refers to a network of connected medical devices, software applications, and healthcare systems that collect, analyze, and transmit real-time health data. The increasing integration of IoT technology in healthcare is driving the rapid growth of this market, enabling remote patient monitoring, predictive analytics, and efficient hospital management. The adoption of wearable medical devices, cloud-based healthcare systems, and AI-driven diagnostics is transforming healthcare delivery, making it more personalized and proactive. The demand for IoMT solutions is fueled by rising chronic disease prevalence, the need for efficient healthcare infrastructure, and advancements in wireless technology. Government initiatives to promote digital healthcare and telemedicine services are further propelling market expansion.

Key Market Insights

• The increasing prevalence of chronic diseases such as diabetes, cardiovascular disorders, and respiratory diseases is driving the demand for IoMT solutions. By 2024, over 537 million adults worldwide were estimated to be living with diabetes, necessitating continuous glucose monitoring devices and connected insulin pumps.
• The adoption of wearable medical devices is growing significantly. In 2023, over 380 million wearable healthcare devices, including smartwatches, ECG monitors, and fitness trackers, were in use globally. This trend is expected to accelerate with the integration of AI and data analytics in wearables.
• Telemedicine and remote patient monitoring are emerging as key growth areas for IoMT. The telehealth market, valued at USD 125 billion in 2024, is expected to witness strong growth due to increasing reliance on virtual consultations and home-based patient care.
• Cybersecurity concerns remain a major challenge in the IoMT market. In 2023, healthcare data breaches affected over 100 million patient records globally, highlighting the urgent need for advanced security measures in connected healthcare ecosystems.
• North America leads the IoMT market, accounting for 42% of global revenue in 2024. The region’s dominance is attributed to strong regulatory support, high adoption of connected healthcare devices, and significant investments in digital health technologies.
• AI-powered diagnostics and predictive analytics are transforming healthcare. AI-driven IoMT applications, such as early disease detection through smart sensors, are gaining traction. The AI in healthcare market is projected to surpass USD 190 billion by 2030.

Global Internet of Medical Things (IoMT) Market Drivers

Rising demand for remote patient monitoring and telemedicine is driving the market growth

The increasing burden of chronic diseases and the growing aging population are driving the need for remote patient monitoring solutions. IoMT enables healthcare providers to track patient vitals in real time, reducing hospital visits and improving patient outcomes. The COVID-19 pandemic accelerated the adoption of telehealth services, highlighting the importance of remote patient monitoring in reducing healthcare costs and enhancing accessibility. IoMT-powered devices, such as smart blood pressure monitors, ECG patches, and wearable glucose monitors, allow continuous tracking of health parameters, alerting medical professionals to potential issues before they escalate. The expansion of telemedicine platforms is further integrating IoMT solutions, allowing seamless doctor-patient interactions. The growing acceptance of home-based healthcare and the increasing preference for non-invasive monitoring solutions are expected to fuel market growth. Additionally, government support for digital health initiatives, including reimbursement policies for remote monitoring services, is further propelling IoMT adoption across healthcare settings.

Technological advancements in connected medical devices is driving the market growth

The IoMT market is witnessing rapid advancements in device connectivity, sensor technology, and cloud computing. The miniaturization of medical sensors and the integration of artificial intelligence are enhancing the accuracy and functionality of connected devices. Smart implants, AI-powered diagnostic tools, and real-time health tracking systems are improving patient management. Developments in blockchain technology are enhancing data security, addressing privacy concerns associated with connected healthcare networks. The increasing adoption of 5G networks is revolutionizing IoMT applications by enabling real-time data sharing, reducing latency, and improving the efficiency of remote monitoring systems. Furthermore, cloud-based healthcare platforms are facilitating seamless data storage and interoperability among medical devices, allowing healthcare providers to access patient data from multiple sources. These technological advancements are enhancing the scalability and efficiency of IoMT solutions, making healthcare more data-driven and predictive.

Increasing investments in digital healthcare infrastructure is driving the market growth

Governments and private investors are heavily investing in digital healthcare infrastructure to improve patient care and operational efficiency. Many countries are implementing policies to accelerate the adoption of connected healthcare solutions. In 2023, the U.S. government allocated over USD 10 billion to enhance healthcare IT infrastructure, supporting IoMT integration in hospitals and clinics. Similarly, European nations are promoting e-health initiatives, encouraging the use of digital health records and remote monitoring systems. The increasing adoption of electronic health records (EHR) is complementing IoMT growth, enabling seamless data sharing between healthcare providers and connected medical devices. Major tech companies and healthcare startups are investing in IoMT innovations, leading to the development of more sophisticated and user-friendly solutions. The rising focus on interoperability standards and regulatory frameworks is expected to drive the widespread implementation of IoMT technologies in global healthcare systems.

Global Internet of Medical Things (IoMT) Market Challenges and Restraints

Data security and privacy concerns is restricting the market growth

The increasing connectivity of medical devices presents significant cybersecurity challenges. IoMT networks store and transmit sensitive patient data, making them a prime target for cyberattacks. In recent years, the healthcare industry has witnessed a surge in ransomware attacks and data breaches, compromising patient privacy and financial security. Many IoMT devices have limited security features, making them vulnerable to unauthorized access. Regulatory bodies, including the U.S. FDA and the European Medicines Agency, are imposing stricter guidelines for medical device cybersecurity. However, ensuring compliance with these regulations remains a challenge for manufacturers. The need for robust encryption protocols, multi-factor authentication, and real-time threat detection systems is becoming increasingly critical. As the adoption of IoMT expands, addressing security and privacy concerns will be crucial for maintaining patient trust and regulatory compliance.

High implementation costs and interoperability issues is restricting the market growth

Despite its benefits, the adoption of IoMT solutions involves significant costs related to infrastructure development, device integration, and cybersecurity measures. Small and mid-sized healthcare providers often struggle with the financial burden of implementing connected healthcare systems. Additionally, interoperability challenges between different medical devices and healthcare IT platforms hinder seamless data exchange. Many hospitals and clinics use legacy systems that are not fully compatible with modern IoMT solutions, requiring costly upgrades. Standardization efforts are underway to improve device compatibility, but achieving a fully interoperable IoMT ecosystem remains a complex task. The need for customized software solutions and technical expertise further adds to the implementation challenges. Overcoming these barriers is essential for ensuring the widespread adoption of IoMT technologies across healthcare facilities.

Market Opportunities

The IoMT market presents vast opportunities in personalized medicine, AI-driven healthcare solutions, and remote diagnostics. The integration of AI and big data analytics in IoMT devices is enabling predictive healthcare, allowing early disease detection and proactive treatment planning. The development of AI-powered virtual health assistants and smart monitoring systems is expected to enhance patient engagement and self-care management. The growing demand for home healthcare solutions, especially for elderly patients, is expanding market potential. Innovations in wearable health technology, including biosensors and smart textiles, are creating new revenue streams for market players. Additionally, the rise of digital therapeutics and mobile health applications is complementing IoMT adoption, making healthcare more accessible and data-driven. Governments and private organizations are focusing on expanding telehealth infrastructure, further supporting IoMT growth. As connectivity and automation continue to improve, the IoMT market is expected to revolutionize global healthcare delivery.

INTERNET OF MEDICAL THINGS MARKET REPORT COVERAGE:

Internet of Medical Things (IoMT) Market Segmentation

Internet of Medical Things (IoMT) Market Segmentation By Product:

• Wearable Devices
• Stationary Medical Devices
• Implantable Devices
• Software & Services

Wearable devices are the most dominant segment due to their widespread adoption in remote patient monitoring and personal healthcare tracking. The increasing integration of AI and cloud connectivity in wearable medical technology is driving market growth.

Internet of Medical Things (IoMT) Market Segmentation By Application:

• Remote Patient Monitoring
• Hospital Workflow Optimization
• Connected Imaging
• Medication Management
• Others

Remote patient monitoring leads the market as it plays a crucial role in chronic disease management and elderly care. The demand for real-time health tracking solutions is increasing, boosting the adoption of IoMT-powered monitoring devices.

Internet of Medical Things (IoMT) Market Segmentation By Region:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

North America dominates the IoMT market due to advanced healthcare infrastructure, high digital health investments, and strong regulatory support. The rapid adoption of AI-driven IoMT solutions in hospitals and clinics is further strengthening market growth.

COVID-19 Impact Analysis on the Internet of Medical Things (IoMT) Market

The COVID-19 pandemic had a profound impact on the Internet of Medical Things (IoMT) market, accelerating the adoption of connected healthcare solutions. With hospitals overwhelmed by COVID-19 cases and restrictions on in-person visits, healthcare providers turned to IoMT devices for remote patient monitoring and virtual care. The demand for wearable medical devices, such as pulse oximeters, smart thermometers, and continuous glucose monitors, surged as patients sought ways to track their health conditions from home. Telemedicine platforms, integrated with IoMT technology, experienced rapid growth, with a 70% increase in virtual consultations globally in 2020. Healthcare providers increasingly relied on IoMT to manage COVID-19 patients, particularly those with mild symptoms who could be monitored remotely. Connected devices helped track oxygen levels, heart rates, and other vital signs, reducing the need for hospital admissions and enabling early intervention in critical cases. The use of AI-driven analytics in IoMT solutions allowed hospitals to predict patient deterioration and optimize resource allocation, enhancing overall healthcare efficiency. However, the pandemic also exposed challenges in IoMT adoption, including cybersecurity vulnerabilities and interoperability issues among different healthcare systems. The rapid deployment of IoMT solutions led to an increase in cyberattacks targeting healthcare data. As a result, governments and regulatory bodies intensified efforts to establish stronger cybersecurity standards for connected medical devices. Post-pandemic, the IoMT market continues to expand, driven by sustained demand for telehealth services and digital healthcare infrastructure. Healthcare institutions are increasingly integrating IoMT into long-term strategies, recognizing its potential to improve patient outcomes and reduce costs. The pandemic acted as a catalyst for IoMT adoption, pushing the healthcare industry toward a more connected and data-driven future.

Latest Trends/Developments

The IoMT market is evolving rapidly, driven by technological advancements and increasing demand for smart healthcare solutions. One of the most significant trends is the integration of artificial intelligence (AI) and machine learning in IoMT applications. AI-powered analytics are being used to process large volumes of patient data, enabling early disease detection and predictive healthcare management. Smart algorithms in connected devices can analyze real-time health metrics and provide actionable insights, helping healthcare providers make informed decisions. Another key development is the adoption of 5G technology in IoMT infrastructure. The low latency and high-speed connectivity of 5G networks enhance the performance of IoMT devices, enabling seamless real-time data transmission. This advancement is particularly beneficial for applications such as robotic-assisted surgery, remote diagnostics, and emergency telemedicine services. The expansion of blockchain technology in IoMT is also gaining traction, addressing concerns related to data security and interoperability. Blockchain-based solutions offer secure and tamper-proof medical records, ensuring data integrity across different healthcare systems. As data privacy regulations become more stringent, the adoption of blockchain is expected to grow. Wearable medical technology is becoming more sophisticated, with continuous innovations in biosensors and smart textiles. Devices such as ECG patches, glucose-monitoring contact lenses, and AI-powered hearing aids are enhancing patient monitoring capabilities. The integration of augmented reality (AR) and virtual reality (VR) in IoMT applications is also emerging, particularly in medical training and remote surgical procedures. Additionally, healthcare providers are increasingly adopting digital twin technology, where virtual replicas of patients' organs and physiological processes are created for personalized treatment planning. This innovation is transforming areas such as precision medicine and chronic disease management. As these advancements continue, the IoMT market is expected to reshape global healthcare, making medical services more efficient, predictive, and personalized.

Key Players

1. Medtronic
2.  Philips Healthcare
3.  GE Healthcare
4.  Siemens Healthineers
5.  Johnson & Johnson
6.  Cisco Systems
7.  IBM Corporation
8.  Honeywell Life Sciences
9.  Boston Scientific
10.  Abbott Laboratories