Internet Of Medical Things (IoMT) Market 2025

Internet Of Medical Things (IoMT) Market Size

The global internet of medical things (IoMT) market reached a value of nearly $79,636.55 million in 2024, having grown at a compound annual growth rate (CAGR) of 26.26% since 2019. The market is expected to grow from $79,636.55 million in 2024 to $239,769.41 million in 2029 at a rate of 24.66%. The market is then expected to grow at a CAGR of 23.95% from 2029 and reach $701,462.43 million in 2034. Growth in the historic period resulted from the increased prevalence of chronic diseases, rising healthcare costs, increasing adoption of IoT devices and rise in aging population. Factors that negatively affected growth in the historic period were data privacy and security concerns and stringent regulations. Going forward, the growing adoption of remote patient monitoring, favorable government initiatives, increased focus on preventive healthcare, rise in telehealth and increasing use of connected medical devices will drive the growth. Factor that could hinder the growth of the internet of medical things (IoMT) market in the future include concerns over device accuracy and reliability and connectivity and infrastructure limitations.

Internet Of Medical Things (IoMT) Market Drivers

The key drivers of the internet of medical things (IoMT) market include: Growing Adoption of Remote Patient Monitoring During the forecast period, the growing adoption of remote patient monitoring is expected to propel the growth of the internet of medical things (IoMT) market. Remote Patient Monitoring (RPM) reduces hospital visits by allowing patients to be monitored from home, driving increased demand for IoMT devices like wearables and mobile health apps. It enhances patient engagement by enabling individuals to actively track their health, leading to better outcomes. RPM also improves healthcare efficiency by minimizing in-person check-ups and allowing healthcare providers to make timely decisions based on continuous patient data, optimizing treatment plans, especially for chronic conditions. The growing adoption of remote patient monitoring contribution during the forecast period in 2024 is 1.50%.

Internet Of Medical Things (IoMT) Market Restraints

The key restraints on the internet of medical things (IoMT) market include: Concerns Over Device Accuracy And Reliability The concerns over device accuracy and reliability are expected to restrict the growth of the internet of medical things (IoMT) market, during the forecast period. For IoMT devices to gain traction in clinical settings, they must provide accurate and reliable data to prevent misdiagnoses and ineffective treatments. Unreliable devices complicate integration with EHR systems, limiting adoption in healthcare environments. Frequent device failures increase costs for manufacturers and reduce market confidence. Additionally, patients may be reluctant to adopt IoMT devices if they question their accuracy, hindering the technology's growth. Growth affected by concerns over device accuracy and reliability during the forecast period in 2024 is -2.57%.

Internet Of Medical Things (IoMT) Market Trends

Major trends shaping the internet of medical things (IoMT) market include: Revolutionizing Glucose Monitoring With All-In-One CGM Technology Major companies operating in the internet of medical things (IoMT) market are focusing on developing innovative continuous glucose monitors to enhance real-time diabetes management and improve patient outcomes. These advancements aim to provide more accurate, non-invasive monitoring solutions, offering seamless integration for better data analysis and decision-making. For instance, in August 2024, Medtronic, an Ireland-based medical technology company, specializing in developing and manufacturing medical devices and therapies, received FDA (Food and Drug Administration) approval for its Simplera continuous glucose monitor (CGM), marking a significant advancement in diabetes management. This innovative sensor is Medtronic's first fully disposable, all-in-one CGM, designed to be half the size of its previous models, enhancing comfort and ease of use. The Simplera CGM eliminates the need for fingerstick calibrations and overtape, streamlining the user experience. The sensor provides real-time glucose data directly to the InPen smart insulin pen or the MiniMed 780G insulin pump, facilitating timely insulin dosing decisions. Notably, the MiniMed 780G system, when paired with the Simplera Sync sensor, features Meal Detection technology, which detects rising glucose levels and delivers additional insulin as needed, helping users maintain glucose levels within target ranges. Advancing Ambulatory Cardiac Care With Unified Monitoring Platforms Major companies operating in the internet of medical things (IoMT) market are focusing on developing comprehensive ambulatory cardiac monitoring solutions to enable continuous, real-time tracking of heart activity outside clinical settings. These solutions aim to improve early detection of cardiac anomalies, enhance diagnostic accuracy and support timely medical interventions. For instance, in May 2024, Vivalink, a US-based company specializing in digital health solutions, particularly in wearable health monitoring devices, launched a comprehensive technology solution designed to enhance mobile cardiac telemetry (MCT) and Holter monitoring. This turnkey system features a reusable ECG (electrocardiogram) patch with a 14-day rechargeable battery and up to 30 days of data storage, ensuring extended monitoring without frequent device changes. A provisioned mobile gateway, integrated with a patient app, facilitates seamless data transmission and patient engagement. The solution employs advanced arrhythmia detection algorithms capable of identifying over 15 common arrhythmias and ectopic beats, providing clinicians with timely and actionable insights. By unifying MCT and Holter monitoring into a single platform, Vivalink's solution reduces operational complexity and costs, offering a scalable approach to ambulatory cardiac care.

Opportunities And Recommendations In The Internet Of Medical Things (IoMT) Market

Opportunities – The top opportunities in the internet of medical things (IoMT) markets segmented by device type will arise in the wearable devices segment, which will gain $89,808.51 million of global annual sales by 2029. The top opportunities in the internet of medical things (IoMT) markets segmented by application will arise in the real-time monitoring segment, which will gain $55,340.73 million of global annual sales by 2029. The top opportunities in the internet of medical things (IoMT) markets segmented by end user will arise in the healthcare providers segment, which will gain $89,307.56 million of global annual sales by 2029. The internet of medical things (IoMT) market size will gain the most in the USA at $45,622.24 million. Recommendations- To take advantage of the opportunities, The Business Research Company recommends the internet of medical things (IoMT) to focus on innovating non-invasive monitoring solutions, focus on advancing ambulatory cardiac monitoring solutions, focus on developing comprehensive at-home health monitoring solutions, focus on integrating medical devices with digital health platforms, focus on wearable devices to capture growth in the IoMT market, expand in emerging markets, focus on leveraging strategic partnerships for growth, focus on pricing strategies based on value and market differentiation, focus on targeted marketing campaigns to drive awareness, focus on educating the market on IoMT benefits, focus on tracking and alerts to drive accelerated growth and focus on the patients segment to maximize long-term growth.