Internet of Medical Things Market Size, Share, Statistics, Opportunity by 2024–2032
The Internet of Medical Things (IoMT) market, valued at USD 41.17 billion in 2020, is forecasted to rise from USD 30.79 billion in 2021 to USD 187.60 billion in 2028, with a CAGR of 29.5% during the 2021–2028 period.
In a recent study, Fortune Business Insights presents the nitty-gritty of the global Internet of Medical Things Market considering 2024–2032 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
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The Internet of Medical Things Market study outlines the key regions of North America, Latin America, Europe, East Asia, Japan along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are
- Boston Scientific Corporation (Marlborough, U.S.)
- General Electric Company (GE Healthcare) (Chicago, U.S.)
- Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
- Medtronic (Dublin, Ireland)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Siemens Healthineers AG (Munich, Germany)
- Cisco (San Jose, U.S.)
- IBM (Armonk, U.S.)
- Hill-Rom Services, Inc. (Welch Allyn) (Indiana, U.S.)
- BIOTRONIK (Berlin, Germany)
Market Dynamics
The internet of health things helps to reduce patient costs significantly, thereby reducing the burden of healthcare costs on patients and governments. The relationship between IoMT and medtech companies is valuable in strengthening the healthcare organizations to accomplish better outcomes, improve efficiency and deliver advanced care to the patients. Companies are aiming to empower and transform the care given to patients. Additionally, companies are actively focusing on investing in IoT technology along with government organizations. According to the McKinsey study, the IoT deployments in the healthcare industry are expected to grow faster than any other industry. Also, the study states that IoMT is likely to have a global economic impact of USD 1.6 trillion by 2025. Moreover, the World Telecommunication Development Conference projected that by the end of 2020, 40% of the IoT technology would be healthcare-driven. This is expected to bolster the internet of medical things market growth.
The insights for each vendor consist of:
- Company profile
- SWOT analysis
- Main market information
- Market share
- Revenue, pricing and gross margin
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Crucial insights in the Internet of Medical Things Market research:
- Underlying macro- and microeconomic factors impacting the growth of the Internet of Medical Things Market.
- Basic overview of Internet of Medical Things Market, including market definition, classification, and applications.
- Scrutinization of each Internet of Medical Things Market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of Internet of Medical Things Market across various industries.
- Important regions and countries offering lucrative opportunities to Internet of Medical Things Market stakeholders.
Segmentation Analysis:
By Product
Stationary Medical Devices
Implanted Medical Devices
Wearable External Medical Devices
By Application
Telemedicine
Medication Management
Patient Monitoring
Others
By End User
Healthcare Providers
Patients
Government Authorities
Others
Important regions covered in the Internet of Medical Things Market report include:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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