[Latest] Global Internet of Medical Things IoMT Market Size/Share Worth USD 1061.49 Billion by 2034 at a 16.1% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Internet of Medical Things IoMT Market size & share revenue was valued at approximately USD 242.80 Billion in 2024 and is expected to reach USD 276.85 Billion in 2025 and is expected to reach around USD 1061.49 Billion by 2034, at a CAGR of 16.1% between 2025 and 2034. The key market players listed in the report with their sales, revenues and strategies are Boston Scientific Corporation, General Electric Company (GE Healthcare), Johnson & Johnson Services Inc., Medtronic, Koninklijke Philips N.V., Siemens Healthineers AG, Cisco, IBM, Baxter (Hill-Rom Services Inc.), BIOTRONIK, and others.

Austin, TX, USA, June 05, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Internet of Medical Things (IoMT) Market Size, Trends, and Insights By Offering Type (General Purpose Reloadable Card, Gift Cards, Incentive/Payroll Card, Others), By Card Type (Closed Loop Prepaid Card, Open Loop Prepaid Card), By End User Industry (Retail, Healthcare, Travel and Hospitality, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034” in its research database.

“According to the latest research study, the demand of the global Internet of Medical Things IoMT Market size & share was valued at approximately USD 242.80 Billion in 2024 and is expected to reach USD 276.85 Billion in 2025 and is expected to reach a value of around USD 1061.49 Billion by 2034, at a compound annual growth rate (CAGR) of about 16.1% during the forecast period 2025 to 2034.”

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Internet of Medical Things IoMT Market Overview

As per the industry experts at CMI, The global Internet of Medical Things (IoMT) market is growing rapidly due to increasing demand for connected healthcare and real-time monitoring. Leading players like Medtronic, GE Healthcare, Philips, Boston Scientific, and Johnson & Johnson are advancing smart devices and AI-powered diagnostics. These businesses position themselves on interoperable and secure platforms for optimized data exchange to participate effectively in healthcare value chains.

Governments and healthcare systems unite with IoMT to provide chronic disease management for aging populations. Digital technology companies, in partnership with IoMT, to accelerate innovation and entry into the market. Relationships with technology (such as 5G, artificial intelligence, and edge technology) enable these products to improve and respond. As the market develops, these companies begin to target expansion outside of the national borders and employ a total digital healthcare ecosystem.

Internet of Medical Things IoMT Market Growth Factors and Dynamics

Increased Demand for Remote Patient Monitoring: Remote Patient Monitoring (RPM) uses connected medical devices to send health data to providers in real-time, thus allowing continuous care outside of clinical settings, thus benefitting chronic disease management and helping to support elderly care. Additionally, as Artificial Intelligence (AI) matures, the development of AI-enhanced RPM systems continues to be greatly anticipated. There are already AI-driven aspects of RPM, including the recognition of health deterioration early, personalized monitoring using federated learning, and behavior pattern identification through reinforcement learning. As these aspects matured, it offered an increased RPM capacity for health intervention, thereby improving patient outcomes. Thus, with the evolution of healthcare, RPM systems are quickly moving toward becoming in-demand and essential future healthcare technologies. It has been noted that RPM systems also reduce hospital readmissions, thus offering a cost-effective solution.

Advancements in Wireless Technology: Advancements in wireless technology, such as 5G networks and low-power communication protocols have dramatically improved the functionality of Internet of Medical Things (IoMT) devices. These advancements offer faster data transmission, lower latency, and improved connectivity that make real-time monitoring and data analysis in the healthcare setting much more competent. Additionally, advancements in micro-computing and compact hardware allow for even greater innovation in the IoMT, enabling system innovations that now support timely diagnostics and remote monitoring of chronic conditions. But these advancements have also expanded the attack surface for security risks. Addressing these issues is necessary in order to protect patients and data integrity. Overall, the advancements in wireless technology are changing the way healthcare is delivered.

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Integration with AI and Big Data: The integration of Artificial Intelligence (AI) and Big Data analytics into Internet of Medical Things systems (IoMT) has disrupted the healthcare sector by enabling the processing of massive health datasets. Thus, it allows for predictive analytics, early detection of diseases, and highly individualized treatment plans. Likewise, AI-driven RPM systems are now able to detect early signs of patient decline, personalize monitoring through federated learning, and determine a patient’s behaviors based on reinforcement learning. All of this enables years of proactive healthcare management, contributing to significant improvements in patient health. Furthermore, the system still provides a support role for healthcare providers and ultimately contributes to making healthcare better and more efficient.

Report Scope

Feature of the Report	Details
Market Size in 2025	USD 276.85 Billion
Projected Market Size in 2034	USD 1061.49 Billion
Market Size in 2024	USD 242.80 Billion
CAGR Growth Rate	16.1% CAGR
Base Year	2024
Forecast Period	2025-2034
Key Segment	By Offering Type, Card Type, End User Industry and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Internet of Medical Things IoMT report is available upon request; please contact us for more information.)

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Provide detailed chapter-by-chapter guidance on the Request.
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(Please note that the sample of the Internet of Medical Things IoMT report has been modified to include the COVID-19 impact study prior to delivery.)

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Internet of Medical Things IoMT Market SWOT Analysis

Strengths: The IoMT (Internet of Medical Things) market is based on the increased speed of connectivity, artificial intelligence, and sensor capabilities. The IoMT improves monitoring of patients, diagnosing, and treating; the evidence suggests improved health outcomes. Collecting and presenting data in real time helps improve clinical decisions and productivity. Adoption in existing healthcare systems (particularly in developed regions) continues to support the growth of the market. Innovation is also driven by the increased demand for remote care and wearables. Support from large healthcare providers, along with socio economic factors that support economic development, enables momentum for the IoMT.

Weaknesses: The complex integration of many devices and many platforms persists as a principal issue related to IoMT. Substantial issues remain for patients and providers in terms of data security and privacy as well as cybersecurity risks. The upfront capital costs, complexity of adoption, and healthcare systems in many regions of the world (many with a lack of capital in developing regions) undermine the development of IoMT systems further. In specific instances, there may be regulatory barriers to market with IoMT devices and long periods without approval. In rural areas, internet connectivity issues may seriously inhibit the rollout of systems. The level of continuing education and digital literacy amongst staff in healthcare systems (e.g. nurses) can also inhibit the use of IoMT devices.

Opportunities: The continued rollout of telemedicine services (e.g., telehealth) constitutes a significant opportunity for IoMT integration. The need for IoMT solutions is exacerbated by our aging population and chronic diseases, while there is the potential for investment in healthcare systems, particularly in emerging economies. The integration of artificial intelligence offers a market opportunity to drive predictive analytics and personalized healthcare. Partnerships are forming between technology firms, IoMT companies, and healthcare providers, which could lead to exciting innovations in the future; additionally, new government programs focused on digital health can help accelerate this process.

Threats: A cybersecurity breach could result in catastrophic breaches of sensitive health data and loss of trust in any health system. A regulated market creates dependencies and appears to be an adversarial process, especially when compliance changes occur and regulatory delays arise. Continued lack of awareness of the myriad of devices joining the IoMT market is an insidious threat that can continue to undermine its potential. Competitive pressures are tremendous, increasing price risks and limiting profit margins. Other worsening economic drivers could reduce, limit, or void budgets and capital for healthcare IT. Traditional healthcare systems tend to be slow and resistant to changes, which increasingly protracts and limits adoption.

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Key questions answered in this report:

What is the size of the Internet of Medical Things (IoMT) market, and what is its expected growth rate?
What are the primary driving factors that push the Internet of Medical Things (IoMT) market forward?
What are the Internet of Medical Things (IoMT) Industry's top companies?
What are the different categories that the Internet of Medical Things (IoMT) Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Internet of Medical Things (IoMT) market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2025−2034
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Internet of Medical Things IoMT Market Regional Perspective

The Internet of Medical Things IoMT Market can be divided across different regions such as North America, Europe, Asia-Pacific, and LAMEA. This is a cursory overview of each region:

North America: The emphasis in the United States in 2024 has been to minimize cybersecurity risks associated with healthcare IoT devices, and the United States Energy and Commerce Committee raised the need to mitigate risks to patients and providers from cyberattacks on health facilities, which could disrupt the continuum of care. The United States Department of Veterans Affairs has included funding in their FY 2025 budget for IT modernization and expansion of digital health technologies to improve the delivery of care for veterans. In Canada, investments from 2023 through the nation’s health plan have resulted in further expansion of digital health services and favored the use of IoMT throughout the country.

Europe: The United Kingdom has capitalized on stakeholder resources to implement IoMT solutions to advance the digital transformation of its National Health Service, increasing patient care while also enhancing the effectiveness of the health system. Germany’s landmark legislation, the Digital Healthcare Act, which was passed in 2020, supports the referral of digital health applications and IoMT devices. Germany now enables reimbursement for the use of digital health applications and extends their use into clinical practice too. In Spain, telemedicine services are expanding via IoMT engagement, improving remote patient monitoring. Spain’s digital healthcare strategy is targeting the improvement of access and quality care in rural and underserved regions within the care context of increasing healthcare access.

Asia-Pacific: In 2024, India created new projects for the use of Artificial Intelligence (AI) to work with IoMT device data to improve diagnosis and patient monitoring and increase access to healthcare and reduce inefficiencies. China continues to make huge investments in order to create smart healthcare infrastructures that include IoMT technologies as part of China’s rejuvenation modernization strategy to improve patient outcomes. At the same time, Japan is piloting the use of robots with IoMT devices to enhance healthcare delivery by employing them to assist with patient care and improve hospital efficiency.

LAMEA: Brazil is developing digital health policies aimed at increasing awareness of IoMT device adoption to improve healthcare delivery and accessibility across the country. Countries in the Middle East and Africa are also integrating healthcare technologies, including IoMT, to improve medical services. Fueled by government policies and growing private investments, these regions are working towards modernizing their healthcare capabilities and disparities while increasing patient care through technologies.

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List of the prominent players in the Internet of Medical Things IoMT Market:

Boston Scientific Corporation
General Electric Company (GE Healthcare)
Johnson & Johnson Services Inc.
Medtronic
Koninklijke Philips N.V.
Siemens Healthineers AG
Cisco
IBM
Baxter (Hill-Rom Services Inc.)
BIOTRONIK
Others

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The Internet of Medical Things IoMT Market is segmented as follows:

By Product

Stationary Medical Devices
Implanted Medical Devices
Wearable External Medical Devices

By Application

Telemedicine
Medication Management
Patient Monitoring

By End-user

Healthcare Providers
Patients
Government Authorities

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Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Internet of Medical Things IoMT Market Research/Analysis Report Contains Answers to the following Questions.

What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Internet of Medical Things IoMT Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Internet of Medical Things IoMT Market? What Was the Capacity, Production Value, Cost and PROFIT of the Internet of Medical Things IoMT Market?
What Is the Current Market Status of the Internet of Medical Things IoMT Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Internet of Medical Things IoMT Market by Considering Applications and Types?
What Are Projections of the Global Internet of Medical Things IoMT Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Internet of Medical Things IoMT Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Internet of Medical Things IoMT Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Internet of Medical Things IoMT Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Internet of Medical Things IoMT Industry?

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Reasons to Purchase Internet of Medical Things IoMT Market Report

Internet of Medical Things IoMT Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Internet of Medical Things IoMT Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Internet of Medical Things IoMT Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Internet of Medical Things IoMT Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Internet of Medical Things IoMT market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Internet of Medical Things IoMT market analysis.

The competitive environment of current and potential participants in the Internet of Medical Things IoMT market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Internet of Medical Things IoMT market should find this report useful. The research will be useful to all market participants in the Internet of Medical Things IoMT industry.

Managers in the Internet of Medical Things IoMT sector are interested in publishing up-to-date and projected data about the worldwide Internet of Medical Things IoMT market.

Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Internet of Medical Things IoMT products' market trends.

Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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