Market Overview:
The global internet of medical things (IoMT) market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for connected healthcare devices, rising prevalence of chronic diseases, and growing number of geriatric population. The wearable devices segment is expected to account for the largest share of the global IoMT market in 2018. This segment is projected to grow at a CAGR of 17% during the forecast period from 2018 to 2030. The growth in this segment can be attributed to factors such as increasing demand for fitness and wellness tracking devices and growing popularity of smart watches and other wearable devices among consumers worldwide. The hospitals segment is expected to account for the largest share of the global IoMT market in 2018.
Product Definition:
The internet of medical things (IoMT) is a term used to describe the interconnectedness of medical devices and systems within the healthcare industry. The IoMT has the potential to improve patient care by allowing for more efficient and timely sharing of information between patients, caregivers, and doctors. The importance of the IoMT lies in its ability to improve patient outcomes by helping providers make better decisions about treatment plans.
Wearable Devices:
Wearable devices are small electronic devices that can be attached to the human body or clothing, and used for health-related purposes. They constitute a new area of technology and innovation in the healthcare industry. The global wearable medical device market is expected to witness significant growth over the forecast period owing to factors such as increasing prevalence of chronic diseases, rising demand for remote monitoring & telemedicine services along with growing awareness regarding fitness & wellness among consumers.
Stationary Devices:
Stationary devices are the medical devices which do not move or can’t be moved. It includes surgical instruments, imaging equipment, and diagnostic systems. These are used in a large number of medical procedures but generally they remain at one place during the treatment process.
The stationary device market is expected to grow rapidly due to increasing demand for home healthcare services and rising geriatric population across the globe.
Application Insights:
The global internet of medical things market has been segmented on the basis of application into hospitals, clinics and other healthcare facilities, home healthcare services, and others. The hospital segment dominated the overall industry in terms of revenue in 2017. This is due to factors such as increasing government funding for improving care quality at a national level as well as increasing investments by private players for developing advanced IT infrastructure within hospitals.
The clinic/others segment is expected to grow at a lucrative rate over the forecast period owing to growing investments by companies such as GE Healthcare; Philips; and Panasonic Corporation towards developing advanced technologies that can help patients manage their health effectively from remote locations or homes.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period due to increasing adoption of IoT-based services and devices, high healthcare expenditure, and growing awareness about IoT technologies. Moreover, presence of major players such as GE Healthcare; Philips; Johnson & Johnson Services Inc.; Koninklijke Philips N.V.; Samsung Electronics Co., Ltd.; Siemens Healthineers AG will also help this region gain significant market share over the forecast period.
Asia Pacific is anticipated to be one of the fastest-growing regions during the same period owing to increasing penetration of wearable medical devices for monitoring vital signs and other applications coupled with rising geriatric population in this region that requires continuous medical attention throughout their lifetime (preventive care). Furthermore, government initiatives aimed at reducing healthcare costs by promoting early diagnosis are likely to boost regional growth over next eight years.
Growth Factors:
- Increasing demand for better and faster healthcare services
- Rising prevalence of chronic diseases and geriatric population
- Growing awareness about the benefits of IoT-enabled medical devices and services
- Proliferation of connected health platforms and apps to manage patient data securely
- Advances in wireless communication technologies and big data analytics
Scope Of The Report
Report Attributes
Report Details
Report Title
Internet of Medical Things Market Research Report
By Type
Wearable Devices, Stationary Devices, Implantable Devices
By Application
Hospitals, Clinics
By Companies
GE, Philips, Medtronic, Cisco, IBM, Siemens, Hill-Rom, Johnson & Johnson, Biotronik, GE
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
185
Number of Tables & Figures
130
Customization Available
Yes, the report can be customized as per your need.
Global Internet of Medical Things Market Report Segments:
The global Internet of Medical Things market is segmented on the basis of:
Types
Wearable Devices, Stationary Devices, Implantable Devices
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Clinics
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE
- Philips
- Medtronic
- Cisco
- IBM
- Siemens
- Hill-Rom
- Johnson & Johnson
- Biotronik
- GE
Highlights of The Internet of Medical Things Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Wearable Devices
- Stationary Devices
- Implantable Devices
- By Application:
- Hospitals
- Clinics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Internet of Medical Things Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
The Internet of Medical Things (IoMT) is a network of interconnected devices and systems that allow healthcare providers to monitor and manage patients' health remotely. IoMT can help improve patient care by providing real-time data on patient conditions, medications, and health trends.
Some of the major companies in the internet of medical things market are GE, Philips, Medtronic, Cisco, IBM, Siemens, Hill-Rom, Johnson & Johnson, Biotronik, GE.
The internet of medical things market is expected to register a CAGR of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Internet of Medical Things Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Internet of Medical Things Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Internet of Medical Things Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Internet of Medical Things Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Internet of Medical Things Market Size & Forecast, 2018-2028
4.5.1 Internet of Medical Things Market Size and Y-o-Y Growth
4.5.2 Internet of Medical Things Market Absolute $ Opportunity
Chapter 5 Global Internet of Medical Things Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Internet of Medical Things Market Size Forecast by Type
5.2.1 Wearable Devices
5.2.2 Stationary Devices
5.2.3 Implantable Devices
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Internet of Medical Things Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Internet of Medical Things Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Clinics
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Internet of Medical Things Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Internet of Medical Things Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Internet of Medical Things Analysis and Forecast
9.1 Introduction
9.2 North America Internet of Medical Things Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Internet of Medical Things Market Size Forecast by Type
9.6.1 Wearable Devices
9.6.2 Stationary Devices
9.6.3 Implantable Devices
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Internet of Medical Things Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Clinics
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Internet of Medical Things Analysis and Forecast
10.1 Introduction
10.2 Europe Internet of Medical Things Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Internet of Medical Things Market Size Forecast by Type
10.6.1 Wearable Devices
10.6.2 Stationary Devices
10.6.3 Implantable Devices
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Internet of Medical Things Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Clinics
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Internet of Medical Things Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Internet of Medical Things Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Internet of Medical Things Market Size Forecast by Type
11.6.1 Wearable Devices
11.6.2 Stationary Devices
11.6.3 Implantable Devices
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Internet of Medical Things Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Clinics
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Internet of Medical Things Analysis and Forecast
12.1 Introduction
12.2 Latin America Internet of Medical Things Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Internet of Medical Things Market Size Forecast by Type
12.6.1 Wearable Devices
12.6.2 Stationary Devices
12.6.3 Implantable Devices
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Internet of Medical Things Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Clinics
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Internet of Medical Things Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Internet of Medical Things Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Internet of Medical Things Market Size Forecast by Type
13.6.1 Wearable Devices
13.6.2 Stationary Devices
13.6.3 Implantable Devices
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Internet of Medical Things Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Clinics
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Internet of Medical Things Market: Competitive Dashboard
14.2 Global Internet of Medical Things Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE
14.3.2 Philips
14.3.3 Medtronic
14.3.4 Cisco
14.3.5 IBM
14.3.6 Siemens
14.3.7 Hill-Rom
14.3.8 Johnson & Johnson
14.3.9 Biotronik
14.3.10 GE
