North America IoT Medical Devices Market Outlook (2022-2033)

The North American market for Internet of Things (IoT) medical devices is projected to experience remarkable growth, with expectations to reach approximately USD 101.36 billion by 2033, up from USD 25.47 billion in 2024. This growth trajectory indicates a compound annual growth rate (CAGR) of 17.5% from 2025 to 2033, highlighting the increasing integration of technology in healthcare.

Executive Summary and Market Analysis

The IoT medical devices sector in North America is witnessing substantial expansion, primarily fueled by the rising incidence of chronic illnesses, an aging demographic, a heightened emphasis on patient-centered and personalized healthcare, and ongoing technological innovations. North America, encompassing the United States, Canada, and Mexico, stands as the largest market for connected health solutions globally. The United States plays a pivotal role in this growth, characterized by the swift adoption of remote patient monitoring (RPM) systems and the development of smart hospitals. Supportive government policies and reimbursement frameworks from the Centers for Medicare & Medicaid Services (CMS) further bolster the adoption of these technologies. For instance, the FDA's approval of new IoT devices, such as Medtronic's Simplera Continuous Glucose Monitor (CGM) in August 2024, exemplifies the trend towards integrating IoT-enabled insulin systems for comprehensive glucose monitoring. Additionally, hospitals across the U.S. are leveraging IoT for various applications, including asset tracking, enhancing workflow efficiencies, and improving diagnostic capabilities. Meanwhile, Canada is rapidly increasing its deployment of IoT medical devices and artificial intelligence (AI) within its healthcare system.

Market Segmentation Analysis

The IoT medical devices market can be segmented based on product type, technology, application, and end-user categories.

By Product: The market is divided into several categories, including vital signs monitoring devices, implantable cardiac devices, infusion pumps, hearing devices, and others. In 2024, the vital signs monitoring devices segment emerged as the market leader.
By Technology: The segmentation by technology includes Wi-Fi, Bluetooth, cellular, and other technologies. The Wi-Fi segment was the dominant technology in 2024, reflecting its widespread adoption in healthcare settings.
By Application: The market is categorized into patient monitoring, medication management, telemedicine, and other applications. The patient monitoring segment held the largest market share in 2024, underscoring the critical role of continuous monitoring in patient care.
By End User: The end-user segmentation includes hospitals and clinics, home care settings, and others. The hospitals and clinics segment was the largest in 2024, indicating the significant reliance on IoT devices in institutional healthcare settings.

Market Outlook

The North American IoT medical devices market is further segmented into the United States, Canada, and Mexico, with the U.S. holding the largest share. The market is robust and continues to expand, positioning North America as a global leader in the adoption of IoT technologies in healthcare. The healthcare ecosystem in this region is well-established and is increasingly embracing innovative technologies. IoT solutions have demonstrated their ability to enhance operational efficiency, reduce costs, and improve patient outcomes. Both government and private sectors are making substantial investments in research and development to advance IoT medical devices. The high levels of digital literacy, combined with affordable internet access, ensure that connected health technologies will continue to thrive in North America.

Country Insights

When examining the market by country, the United States stands out as the largest and fastest-growing market for IoT medical devices worldwide. This growth is largely attributed to the country's advanced healthcare system, a high prevalence of chronic diseases, and a growing focus on digital health solutions. As of 2024, the U.S. accounted for the largest share of global revenues in this sector. The U.S. leads in the adoption of IoT technologies, particularly in remote patient monitoring and the establishment of smart hospitals. Hospitals are increasingly utilizing IoT devices for asset tracking and improving workflow efficiencies. For example, in 2024, GE Healthcare collaborated with Tampa General Hospital to implement connected imaging technology, showcasing the integration of IoT in clinical settings. The primary objectives in the U.S. market include reducing healthcare costs, enhancing access to care, and enabling proactive disease management through real-time data utilization.

Company Profiles

Key players in the North American IoT medical devices market include Medtronic Plc, GE HealthCare Technologies Inc., Koninklijke Philips NV, Abbott Laboratories, Boston Scientific Corporation, Omron Healthcare Inc., Baxter International Inc., Siemens Healthineers AG, Johnson & Johnson, and Drägerwerk AG & Co KGaA. These companies are actively pursuing strategies such as market expansion, product innovation, and mergers and acquisitions to maintain competitiveness and deliver cutting-edge products to consumers.

In conclusion, the North American IoT medical devices market is poised for significant growth, driven by technological advancements and an increasing focus on patient-centered care. Show more