Market Survey on Internet of Medical Things (IoMT) – Leading Countries, Region, and Segment Forecast To 2030

Internet of Medical Things (IoMT) Market – Introduction

  • The healthcare industry is adopting the Internet of Medical Things (IoMT) to enhance efficiency in work by using IoT connected devices. Organizations and hospitals are employing technology for remote patient monitoring and to maintain patient records.
  • Internet of Medical Things (IoMT) is extensively utilized in patient monitoring applications through connected devices. Integration of IoT devices in healthcare procedures helps enhance the efficiency of healthcare professionals and healthcare operations.
  • Solution providers of IoMT are offering solutions that include software applications, infrastructure of medical devices, health systems, and professional services in order to boost the performance of solutions. These connected devices help to collect, generate, analyze and transmit data to a centralized system for further use.
  • Presently, IoMT and connected devices are being utilized in a wide range of applications in hospitals, from surgical instruments and pregnancy testing kits, to MRI scanners and artificial joints
  • Increasing awareness about advanced healthcare solutions is expected to propel the adoption of IoMT in the healthcare industry during the forecast period

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Key Drivers of the Internet of Medical Things (IoMT) Market

  • Increase in demand for real-time healthcare solutions and growing adoption of wearable devices is expected to drive the Internet of Medical Things (IoMT) market. Connected devices reduce consultation cost of any medical experts; they can easily examine patients through a connected device. This, in turn, is also expected to boost the Internet of Medical Things (IoMT) market.
  • Increase in demand for connected devices in the healthcare sector is projected to offer significant opportunities for providers of IoT solutions and software

Lack of skilled professionals and security & privacy issues regarding patient data to hinder market

  • Lack of infrastructure facilities and skilled professionals in the hospital and medical sectors is estimated to restrain the Internet of Medical Things (IoMT) market
  • Several hospitals are not investing in the security of endpoint systems to prevent unauthorized user login and harmful cyber-attacks, which is also expected to hamper the Internet of Medical Things (IoMT) market

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

  • Demand for healthcare solutions is increasing in the healthcare industry during the COVID-19 pandemic for treatment and monitoring of critical patients. Hospitals and local governments are increasing investment in new devices and IoMT technology to enhance efficiency of doctors and other corona warriors. Demand for IoMT is estimated to increase during COVID-19 and also projected to boost the rate of adoption of technologies during the forecast period due to the dependency of the healthcare industry on connected devices.

North America to Hold Major Share of Global Internet of Medical Things (IoMT) Market

  • North America holds a prominent share of the Internet of Medical Things (IoMT) market due to the presence of key solution providers and early adoption of connected devices and Internet of Things (IoT) solutions among the end-users in the region
  • The Internet of Medical Things (IoMT) market in Asia Pacific is expected to expand at a rapid pace during the forecast period due to a rise in the adoption of advanced technological devices and software among healthcare companies & hospitals and surge in investment by major players to provide services in this regions.

Key Players Operating in the Global Internet of Medical Things (IoMT) Market

  • GE Healthcare

GE Healthcare is a leading global player in the field of medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, and biopharmaceutical manufacturing technologies. GE Healthcare has a vast experience of more than 100 years as a provider of medical imaging equipment in the industry.

  • Microsoft Corporation

Microsoft Corporation engages in the development, manufacture, licensing, marketing, and sale of software, personal computers & services, and consumer electronics. Its products range from video games to mobile devices. The company operates globally and has offices in more than 190 countries.

Other key players operating in the global Internet of Medical Things (IoMT) market include Cisco Systems Inc., Stanley Black & Decker, Inc., Medtronic plc, Koninklijke Philips N.V., Qualcomm Life Inc., Breathometer Inc., and Atlas Wearables, Inc.

Global Internet of Medical Things (IoMT) Market: Research Scope

Global Internet of Medical Things (IoMT) Market, by Product Type

  • Home-Use Medical Devices
  • Smart Wearable Devices
  • Point-Of-Care Kits

Global Internet of Medical Things (IoMT) Market, by Application

  • Data Assortment & Analysis
  • Real-Time Monitoring
  • Remote Medical Assistance
  • Tracking & Alerts
  • Others

Global Internet of Medical Things (IoMT) Market, by End-user

  • Research Institutes & Academics
  • Hospitals & Clinics
  • Homecare

Alternative Keywords

  • Healthcare IoT & Digital Solutions
  • Connected Medical Devices

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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