Internet of Medical Things (IoMT) Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The internet of medical things (IoMT) market size has grown exponentially in recent years. It will grow from $79.64 billion in 2024 to $97.73 billion in 2025 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to aging population, increased network connectivity, increasing investment in healthcare, government initiatives.

The internet of medical things (IoMT) market size is expected to see exponential growth in the next few years. It will grow to $244.4 billion in 2029 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to rollout of 5g networks, telemedicine expansion, prevalence of chronic diseases, growing popularity of wearable devices, increasing adoption of electronic health records. Major trends in the forecast period include remote surgery, predictive healthcare, advancements in healthcare technology, artificial intelligence (AI) and machine learning (ML) integration, smart hospitals.

The growing use of connected medical devices is expected to drive the expansion of the Internet of Medical Things (IoMT) market. Connected medical devices are tools that can communicate and share data with other systems, typically via wireless technology, to monitor, diagnose, or treat patients. These devices enhance real-time patient monitoring, streamline data collection, and improve healthcare delivery through IoMT technologies. This, in turn, leads to better patient outcomes, fewer hospitalizations, and greater operational efficiency within healthcare systems. For example, in December 2022, the UK’s National Health Service reported that in 2021/22, X-rays accounted for 21.8 million tests (a 30% increase), followed by ultrasound with 10.1 million tests (up 23%), CT scans at 6.7 million (up 21%), and MRI scans at 3.8 million (up 28%). Other imaging modalities also saw growth, including fluoroscopy (up 23%), nuclear medicine (up 22%), SPECT (up 39%), PET-CT scans (up 20%), and medical photography (up 11%). As a result, the increasing adoption of connected medical devices is propelling the growth of the IoMT market.

The growing prevalence of IoT devices is poised to propel the expansion of the Internet of Medical Things (IoMT) market. The Internet of Things (IoT) refers to a network of physical objects or things equipped with sensors, software, and connectivity features, enabling data collection and exchange over the Internet. Within the realm of healthcare, the Internet of Medical Things (IoMT) encompasses essential IoT devices designed to simplify the gathering, transmission, and analysis of health-related data for a wide range of medical and healthcare applications. For instance, as of January 2022, data from the GSM Association, a UK-based non-profit industry organization, projected a substantial increase in global IoT connections, surging to 23.3 billion by 2025 from the 15.1 billion connections reported in 2021. Consequently, the mounting adoption of IoT devices drives the growth of the Internet of Medical Things (IoMT) market.

Major companies in the Internet of Medical Things (IoMT) market are focusing on integrating advanced technological solutions, such as AI-enabled cath labs, to combat the growing cardiovascular disease burden in India. An AI-enabled cath lab is a specialized medical facility equipped with cutting-edge imaging technology and artificial intelligence, which improves the precision and efficiency of cardiac procedures. It allows for real-time optimization of imaging parameters and supports minimally invasive interventions. For example, in September 2022, GE HealthCare Technologies, Inc., a US-based medical technology company, launched its first AI-enabled cath lab, the Optima IGS 320, to improve cardiac care in India. Manufactured at a new facility in Bengaluru under the Production Linked Incentive (PLI) scheme, the cath lab incorporates GE's AutoRight technology powered by Edison. This technology optimizes imaging and dose parameters in real-time, addressing the rising prevalence of cardiovascular diseases in India, especially among younger populations. The Optima IGS 320 aids interventional cardiologists by offering intelligent imaging, enhancing precision, and simplifying procedures.

In November 2022, CloudWave Inc., a UK-based healthcare data security company, acquired Sensato Ltd. for an undisclosed amount. This acquisition strengthens CloudWave’s portfolio by integrating Sensato's comprehensive cybersecurity-as-a-service (CaaS) platform, which features real-time network monitoring, intrusion detection, and a dedicated 24/7 security operations center tailored to meet healthcare-specific security needs. Sensato Cybersecurity, a US-based company, specializes in providing cybersecurity solutions for healthcare and critical infrastructure sectors.

Major companies operating in the internet of medical things (IoMT) market are Google LLC, Microsoft Corporation, Johnson & Johnson Services Inc., Siemens Healthineers AG, Roche Diagnostics Corporation, Cisco Systems Inc., Qualcomm Life Inc., Abbott Laboratories, Oracle Corporation, Honeywell International Inc., Medtronic PLC, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Zebra Technologies Corp., Smith & Nephew PLC, Otsuka America Pharmaceutical Inc., ResMed Inc., AptarGroup Inc., DexCom Inc., Masimo Corporation, iRhythm Technologies Inc., Merative L.P., Capsule Technologies Inc., Owlet Baby Care Inc., AgaMatrix Inc., AliveCor.

North America was the largest region in the internet of medical things (IoMT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in internet of medical things (IoMT) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the internet of medical things (IoMT) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The internet of medical things (IoMT) market consists of revenues earned by entities by providing consulting and implementation services, patient engagement and telemedicine and virtual care. The market value includes the value of related goods sold by the service provider or included within the service offering. The internet of medical things (IoMT) market also includes sales of ECG (Electrocardiogram) monitors, neurostimulators and fitness trackers, which are used in providing internet of medical things (IoMT) services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The term "Internet of Medical Things" (IoMT) denotes a network that interconnects various medical devices, equipment, sensors, and software applications. These interconnected elements are responsible for the collection, transmission, and exchange of healthcare-related data via the internet. IoMT builds upon the principles of the broader Internet of Things (IoT) concept to enhance healthcare services by enabling remote patient monitoring, real-time data analysis, and the overall improvement of patient care.

IoMT primarily comprises four main categories of devices are wearable devices, stationary devices, implantable devices, and other miscellaneous devices. Wearable devices, which are compact electronic devices worn on the body, often in the form of accessories or clothing, serve the purpose of collecting and transmitting data for various applications, including health monitoring, communication, and activity tracking. These devices find utility in various applications, such as data collection and analysis, real-time monitoring, remote medical assistance, tracking, and issuing alerts. These applications cater to diverse end users, including healthcare providers, patients, government authorities, and others.

The internet of medical things (IoMT) market research report is one of a series of new reports that provides internet of medical things (IoMT) market statistics, including internet of medical things (IoMT) industry global market size, regional shares, competitors with an internet of medical things (IoMT) market share, detailed internet of medical things (IoMT) market segments, market trends and opportunities and any further data you may need to thrive in the internet of medical things (IoMT) industry. This internet of medical things (IoMT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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