Internet of Medical Things (IoMT) Market Size, Share, Trends, Industry Analysis, and Forecast (2025 – 2031)

Internet of Medical Things (IoMT) Market Size

The global internet of medical things (IoMT) market size was valued at $277.29 billion in 2025 and is projected to reach $836.30 billion by 2031, growing at a CAGR of 20.2% during the forecast period.

Internet of Medical Things (IoMT) Market Overview

The Internet of Medical Things (IoMT) refers to a network of interconnected devices and applications specifically designed for healthcare purposes, enabling the collection, transmission, and analysis of medical data. IoMT encompasses a wide range of devices, including wearables, remote monitoring systems, and diagnostic equipment, which facilitate real-time patient monitoring and enhance the quality of care. By leveraging IoMT technologies, healthcare providers can significantly improve patient outcomes through timely interventions based on continuous health data.

Companies can benefit from IoMT by streamlining operations, reducing costs associated with unnecessary hospital visits, and enhancing patient engagement through personalized care. Additionally, the integration of IoMT can lead to more efficient resource management, as automated systems track medical supplies and equipment usage, minimizing waste. As the healthcare landscape evolves, the adoption of IoMT not only transforms patient care but also opens new avenues for research and development, ultimately driving innovation within the industry.

Internet of Medical Things (IoMT) Market Dynamics

The internet of medical things (IoMT) market is expected to witness significant growth in the future due to the increasing demand for remote patient monitoring and chronic disease management, advancements in sensor technology and connectivity solutions, and growing adoption of telehealth services and virtual care. However, the insufficient infrastructure and trained professionals in healthcare settings, concerns regarding data security and privacy breaches, and high costs associated with the implementation of IoMT solutions are restraining the growth of the market.

Furthermore, expansion of IoMT applications in emerging markets with increasing healthcare spending, development of innovative IoMT devices and solutions through R&D investments, and integration of artificial intelligence and machine learning for better data analysis are the key trends propelling the internet of medical things (IoMT) market.

Increasing Demand for Remote Patient Monitoring (Rpm) and Chronic Disease Management is Driving the Internet of Medical Things (IoMT) Market

The increasing demand for remote patient monitoring (RPM) and chronic disease management is significantly impacting the internet of medical things (IoMT) market, driving innovation, enhancing product offerings, and expanding market opportunities for various companies.

• Companies like Philips have launched products such as the Philips HealthSuite, which integrates IoMT technologies to provide comprehensive remote monitoring solutions for patients with chronic conditions, thereby improving patient engagement and health outcomes.

Government initiatives have played a crucial role in promoting the adoption of RPM and IoMT. This policy shift has significantly increased the use of connected devices in healthcare settings, contributing to a reported 76% reduction in hospital readmissions due to effective RPM practices. Overall, the convergence of technological advancements, supportive government policies, and innovative product launches is driving the growth of the IoMT market, positioning it as a critical component of modern healthcare delivery systems.

By Application, the TelemedicineSegment is projected to be the Largest Segment in the Internet of Medical Things (IoMT) Market

Telemedicine is the largest segment in the internet of medical things (IoMT) market, driven by the rising demand for remote healthcare solutions and advancements in technology.

• Companies like Teladoc Health have expanded their telehealth services, which integrate IoMT technologies to facilitate remote consultations and continuous patient monitoring, significantly enhancing patient access to care.
• In addition, Philips has launched its Philips HealthSuite platform, which supports telemedicine by enabling healthcare providers to monitor patients remotely through connected devices, thereby improving chronic disease management.

Government initiatives also play a crucial role;

• For instance, the Centers for Medicare & Medicaid Services (CMS) in the U.S. expanded reimbursement policies for telehealth services in 2022, promoting the adoption of telemedicine solutions that leverage IoMT technologies.

This supportive regulatory environment has led to increased investments in telehealth infrastructure and devices, further driving the segment's growth. Overall, the convergence of technological advancements, innovative product launches, and favorable government policies is propelling the telemedicine segment within the IoMT market, making it a critical component of modern healthcare delivery systems.

By Geography, North AmericaHolds the Largest Share in the Market Revenue

North America holds the largest share of the internet of medical things (IoMT) market, driven by several key factors, including advanced healthcare infrastructure, a high prevalence of chronic diseases, and strong governmental support for innovative healthcare solutions.

• Companies like Philips have reported a 22% increase in their connected care business segment in 2020, driven by the growing acceptance of remote patient monitoring devices.
• Furthermore, Medtronic's launch of its Guardian Connect system in 2023 exemplifies how IoMT technologies are being utilized for real-time glucose monitoring in diabetes management, addressing the rising demand for chronic disease management solutions.

Government initiatives also play a crucial role;

• For instance, the Centers for Medicare & Medicaid Services (CMS) expanded reimbursement policies for remote patient monitoring services in 2022, encouraging healthcare providers to adopt IoMT technologies more widely.

This combination of technological advancements, supportive policies, and innovative product launches is driving the growth of the IoMT market in North America, positioning it as a leader in the global healthcare landscape.

Key Target Audience:

• Healthcare Providers
• Pharmaceutical Companies
• Technology Companies
• Government Agencies
• Medical Device Manufacturers

List of the Key Players Profiled in the Report Includes:

• Apple, Inc.
• Boston Scientific Corporation
• Biotronik SE & Co. KG
• Cisco Systems, Inc.
• General Electric Company
• Honeywell International Inc.
• IBM Corporation
• Johnson & Johnson Services, Inc.
• Koninklijke Philips N.V.
• Lenovo Group Ltd.
• Medtronic plc
• Neurometrix, Inc.

Recent Developments:

• In June 2025, Medtronic shared promising new results for its MiniMed 780G system in both type 2 and young type 1 diabetes patients. The system—which includes a continuous glucose monitor (CGM) and insulin pumpis among the most advanced IoMT solutions for real-time glucose control in a mobile setting.
• In May 2025, Apple announced that its iPhone and iPad are now being deployed at Emory Healthcare to increase clinician mobility and collaboration. These devices—integrated into a secure digital health ecosystemenable doctors and nurses to access patient information and coordinate care directly from the bedside.
• In September 2024, Boston Scientific has entered a partnership aimed at improving patient outcomes through advanced digital health technologies, including IoMT applications. This initiative focuses on integrating connected devices for better patient monitoring.
• In September 2024, Cisco has announced enhancements to its cybersecurity solutions specifically tailored for IoMT devices, addressing growing concerns over data security in healthcare environments.
• In September 2024, Honeywell has announced new connectivity solutions aimed at enhancing the integration of medical devices within healthcare facilities, facilitating better data exchange and patient management.
• In August 2024, Biotronik has unveiled a new remote monitoring system designed to improve patient care and streamline data collection from medical devices, thereby enhancing the effectiveness of IoMT applications.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Component:

• Hardware
• Software
• Services

Market by, Deployment:

• On-premise
• Cloud

Market by, Connectivity Devices:

• Wired
• Wireless

Market by, Application:

• Telemedicine
• Clinical Operations & Workflow Management
• Connected Imaging
• Medication Management
• Inpatient Monitoring
• Other Application

Market by, End-User:

• Homecare
• Clinics
• Hospitals
• Research Institutes & Academics
• Other End-Users

Market by, Geography:

The internet of medical things (IoMT) market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.