Global Internet of Medical Things IoMT Market Size Likely to Grow at a CAGR of 16.1% By 2034

Internet of Medical Things IoMT Market Size

As per the Internet of Medical Things IoMT Market size analysis conducted by the CMI Team, the global Internet of Medical Things IoMT Market is expected to record a CAGR of 16.1% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 276.85 Billion. By 2034, the valuation is anticipated to reach USD 1061.49 Billion.

Internet of Medical Things IoMT Market Overview

As per the industry experts at CMI, The global Internet of Medical Things (IoMT) market is growing rapidly due to increasing demand for connected healthcare and real-time monitoring. Leading players like Medtronic, GE Healthcare, Philips, Boston Scientific, and Johnson & Johnson are advancing smart devices and AI-powered diagnostics. These businesses position themselves on interoperable and secure platforms for optimized data exchange to participate effectively in healthcare value chains.

Governments and healthcare systems unite with IoMT to provide chronic disease management for aging populations. Digital technology companies, in partnership with IoMT, to accelerate innovation and entry into the market. Relationships with technology (such as 5G, artificial intelligence, and edge technology) enable these products to improve and respond. As the market develops, these companies begin to target expansion outside of the national borders and employ a total digital healthcare ecosystem.

Internet of Medical Things IoMT Market Growth Factors and Dynamics

• Increased Demand for Remote Patient Monitoring: Remote Patient Monitoring (RPM) uses connected medical devices to send health data to providers in real-time – thus allowing continuous care outside of clinical settings, thus benefitting chronic disease management and helping to support elderly care. Additionally, as Artificial Intelligence (AI) matures, the development of AI-enhanced RPM systems continues to be greatly anticipated. There are already AI-driven aspects of RPM, including the recognition of health deterioration early, personalized monitoring using federated learning, and behavior pattern identification through reinforcement learning. As these aspects matured, it offered an increased RPM capacity for health intervention, thereby improving patient outcomes. Thus, with the evolution of healthcare, RPM systems are quickly moving towards demanding and essential future healthcare technologies. It has been noted that RPM systems also reduce hospital readmissions, thus offering a cost-effective solution.

• Advancements in Wireless Technology: Advancements in wireless technology such as 5G networks and low-power communication protocols have dramatically improved the functionality of Internet of Medical Things (IoMT) devices. These advancements offer faster data transmission, lower latency, and improved connectivity that make real-time monitoring and data analysis in the healthcare setting much more competent. Additionally, advancements in micro-computing and compact hardware allow for even greater innovation in the IoMT, enabling system innovations that now support timely diagnostics and remote monitoring of chronic conditions. But these advancements have also expanded the attack surface for security risks. Addressing these issues is necessary in order to protect patients and data integrity. Overall, the advancements in wireless technology are changing the way healthcare is delivered.

• Integration with AI and Big Data: The integration of Artificial Intelligence (AI) and Big Data analytics into Internet of Medical Things systems (IoMT) has disrupted the healthcare sector by enabling the processing of massive health datasets. Thus, it allows for predictive analytics, early detection of diseases, and highly individualized treatment plans. Likewise, the AI-driven RPM systems are now able to detect early signs of patient decline, are able to personalize monitoring through federated learning, and as well as determine a patient’s behaviors based on reinforcement learning. All of this enables years of proactive healthcare management, contributing to significant improvements in patient health. Furthermore, the system still provides a support role for healthcare providers and ultimately contributes to making healthcare better and more efficient.

Report Scope

Internet of Medical Things IoMT Market SWOT Analysis

• Strengths: The IoMT (Internet of Medical Things) market is based on the increased speed of connectivity, artificial intelligence, and sensor capabilities. The IoMT improves monitoring of patients, diagnosing, and treating; the evidence suggests improved health outcomes. Collecting and presenting data in real time helps improve clinical decisions and productivity. Adoption in existing healthcare systems (particularly in developed regions) continues to support the growth of the market. Innovation is also driven by the increased demand for remote care and wearables. Support from large healthcare providers, along with socio economic factors that support economic development, enables momentum for the IoMT.

• Weaknesses: The complex integration of many devices and many platforms persists as a principal issue related to IoMT. Substantial issues remain for patients and providers in terms of data security and privacy as well as cybersecurity risks. The upfront capital costs, complexity of adoption, and healthcare systems in many regions of the world (many with a lack of capital in developing regions) undermine development of IoMT systems further. In specific instances, there may be regulatory barriers to market with IoMT devices and long periods without approval. In rural areas, internet connectivity issues may seriously inhibit the rollout of systems. The level of continuing education and digital literacy amongst staff in healthcare systems (e.g. nurses) can also inhibit use of IoMT devices.

• Opportunities: The continued rollout of telemedicine services (e.g., telehealth) constitutes a significant opportunity for IoMT integration. The need for IoMT solutions are exacerbated by our aging population and chronic diseases, while there is the potential for investment in healthcare systems, particularly in emerging economies. The integration of artificial intelligence offers a market opportunity to drive predictive analytics and personalized healthcare. Partnerships are developing amongst technology firms, IoMT technology firms, and healthcare providers that could potentially lead to exciting innovations in the future, while new government programs aimed at digital health can catalyze this process.

• Threats: A cybersecurity breach could result in catastrophic breaches of sensitive health data and loss of trust in any health system. A regulated market creates dependencies and appears to be an adversarial process, especially when compliance changes occur and regulatory delays arise. Continued lack of awareness of the myriad of devices joining the IoMT market is an insidious threat that can continue to undermine its potential. Competitive pressures are tremendous, increasing price risks and limiting profit margins. Other worsening economic drivers could reduce, limit, or void budgets and capital for healthcare IT. Traditional healthcare systems tend to be slow and resistant to changes, which increasingly protracts and limits adoption.

List of the prominent players in the Internet of Medical Things IoMT Market:

• Boston Scientific Corporation
• General Electric Company (GE Healthcare)
• Johnson & Johnson Services Inc.
• Medtronic
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Cisco
• IBM
• Baxter (Hill-Rom Services Inc.)
• BIOTRONIK
• Others

The Internet of Medical Things IoMT Market is segmented as follows:

By Product

• Stationary Medical Devices
• Implanted Medical Devices
• Wearable External Medical Devices

By Application

• Telemedicine
• Medication Management
• Patient Monitoring

By End-user

• Healthcare Providers
• Patients
• Government Authorities

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America