Report Description

Global Internet of Medical Things Market stood at USD69114.78 million in 2021 and is expected to grow at CAGR of 19.48% during the forecast period. This growth can be ascribed to the growing focus on patient engagement and patient centric care delivery. This is in turn is expected to improve the overall patient experience. Additionally, supportive government policies across different parts of the globe to promote digital health is further expected to support the market growth during the forecast period.

Growing Need for Reducing Medical Errors

Increasing medical errors lead to increase in the death toll. United States reports the highest number of deaths caused due to medical errors. Internet of Medical Things (IoMT) provides interoperability which helps healthcare organizations in preventing medical error deaths since IoMT provides better understanding to health care providers of how and why medical errors occur and empowers them to take relevant actions.

Benefits of Internet of Medical Things (IoMT)

Numerous benefits associated with IoMT such as seamless exchange of data helps in cutting down the costs which are incurred with repetitive tasks. For instance, there is a patient who got his/her blood tested about seven days back and is now admitted to emergency room and require blood test again. In such cases, there is no need to do the blood test all over again the results of blood test done can be accessed.

This in turn not only reduces the time required in performing the repetitive task but also decreases the overall cost incurred. IoMT helps in providing patient health data and information to healthcare providers in real time and in a consistent manner thereby increasing the overall efficiency.

Improving Healthcare IT Infrastructure

The increasing healthcare IT expenditure and increasing IoT expenditure across countries is expected to support the development of healthcare IT infrastructure thereby supporting the demand for global internet of medical things market. United States and China had the highest IoT expenditure in 2019 at USD194 billion and USD182 billion, respectively.

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Market Segmentation

The global Internet of Medical Things market is segmented by type, by component, by product type, by technology, by application, by end user, by region, and company. Based on type, the market can be categorized into on body segment, in home segment, in hospital segment, in clinic segment and community segment. Based on component, the market can be segmented into medical devices, system & software, connectivity technology and services.

By product type, the market can be fragmented into smart wearable devices, home use medical devices and point of care kits. By technology, the market can be segmented into Bluetooth low energy (BLE), zigbee, Wifi, LPWAN and others. In terms of application, the market can be categorized into telemedicine, clinical operation & workflow management, medication management, connected imaging, inpatient monitoring, and others.

Based on end user, the market can be segmented into healthcare providers, patients, government authorities and others. Regionally, the Internet of Medical Things Market can be categorized into North America, Asia Pacific, Europe, South America and Middle East & Africa. North America dominates the overall Internet of Medical Things Market with United States having the biggest market. The United States Internet of Medical Things Market stood at USD22291.69 million in 2021.

Major companies in the market are GE Healthcare, Medtronic Plc., Johnson & Johnson, Koninklijke Philips N.V., Siemens Healthineers AG, Abbott Laboratories, Inc., Boston Scientific Corporation, IBM Corporation, Omron Healthcare, Inc., Cisco Systems, Inc., Hill-Rom Holdings, Inc., Ypsomed AG, Honeywell International Inc., Microsoft Corporation, Qualcomm Life Inc., among others.

The market players are actively involved in the technological advancements of the therapeutics as well as research and development of the medical devices involved in the administration of the Internet of Medical Things. Other strategies include partnerships among the market players.

Attribute

Details

Market Size Value in 2021

USD 69114.78 million

Revenue Forecast in 2027

USD 198521.00 million

United States Market Size Value in 2021

USD 22291.69 million

Growth Rate

19.48%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Component

·         Product Type

·         Technology

·         Application

·         End User

Regional Scope

North America; Asia Pacific; Europe, South America; Middle East & Africa

Country Scope

United States; Canada; Mexico; China; Japan; South Korea; India; Australia; Indonesia; Germany; France; United Kingdom; Italy; Spain; Netherlands; Brazil; Argentina; Colombia; Chile; South Africa; Saudi Arabia; Turkey; UAE

Key Companies Profiled

GE Healthcare, Medtronic Plc., Johnson & Johnson, Koninklijke Philips N.V., Siemens Healthineers AG, Abbott Laboratories, Inc., Boston Scientific Corporation, IBM Corporation, Omron Healthcare, Inc., Cisco Systems, Inc., Hill-Rom Holdings, Inc., Ypsomed AG, Honeywell International Inc., Microsoft Corporation, Qualcomm Life Inc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global Internet of Medical Things market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Internet of Medical Things Market, By Type:
    • On Body Segment
    • In Home Segment
    • In Hospital Segment
    • In Clinic Segment
    • Community Segment
  • Internet of Medical Things Market, By Component:
    • Medical Devices
    • System & Software
    • Connectivity Technology
    • Services
  • Internet of Medical Things Market, By Product Type:
    • Smart Wearable Devices
    • Home Use Medical Devices
    • Point of Care Kits
  • Internet of Medical Things Market, By Technology:
    • Bluetooth Low Energy (BLE)
    • Zigbee
    • Wifi
    • LPWAN
    • Others
  • Internet of Medical Things Market, By Application:
    • Telemedicine
    • Clinical Operation & Workflow Management
    • Medication Management
    • Connected Imaging
    • Inpatient Monitoring
    • Others
  • Internet of Medical Things Market, By End User:
    • Healthcare Providers
    • Patients
    • Government Authorities
    • Others
  • Internet of Medical Things Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Indonesia
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Netherlands
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Chile
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • Turkey
      • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global Internet of Medical Things market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Internet of Medical Things Market

4.    Executive Summary

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Factors Contributing Switch to Internet of Medical Things

5.3.  Demand, By Type

5.4.  Preference, By Technology

5.5.  Demand, By Product Type

6.    Global Internet of Medical Things Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type (On Body Segment, In Home Segment, In Hospital Segment, In Clinic Segment, Community Segment)

6.2.2.     By Component (Medical Devices, System & Software, Connectivity Technology, Services)

6.2.3.     By Product Type (Smart Wearable Devices, Home Use Medical Devices, Point of Care Kits)

6.2.4.     By Technology (Bluetooth Low energy (BLE), Zigbee, Wifi, LPWAN, Others)

6.2.5.     By Application (Telemedicine, Clinical Operation & Workflow Management, Medication Management, Connected Imaging, Inpatient Monitoring, Others)

6.2.6.     By End User (Healthcare Providers, Patients, Government Authorities, Others)

6.2.7.     By Region

6.2.8.     By Company (2021)

6.3.  Product Market Map

7.    North America Internet of Medical Things Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Component

7.2.3.     By Product Type

7.2.4.     By Technology

7.2.5.     By Application

7.2.6.     By End User

7.2.7.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Internet of Medical Things Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Component

7.3.1.2.3.             By Product Type

7.3.1.2.4.             By Technology

7.3.1.2.5.             By Application

7.3.1.2.6.             By End User

7.3.2.     Canada Internet of Medical Things Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Component

7.3.2.2.3.             By Product Type

7.3.2.2.4.             By Technology

7.3.2.2.5.             By Application

7.3.2.2.6.             By End User

7.3.3.     Mexico Internet of Medical Things Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Component

7.3.3.2.3.             By Product Type

7.3.3.2.4.             By Technology

7.3.3.2.5.             By Application

7.3.3.2.6.             By End User

8.    Asia Pacific Internet of Medical Things Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Component

8.2.3.     By Product Type

8.2.4.     By Technology

8.2.5.     By Application

8.2.6.     By End User

8.2.7.     By Country

8.3.  Asia Pacific: Country Analysis

8.3.1.     China Internet of Medical Things Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Component

8.3.1.2.3.             By Product Type

8.3.1.2.4.             By Technology

8.3.1.2.5.             By Application

8.3.1.2.6.             By End User

8.3.2.     Japan Internet of Medical Things Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Component

8.3.2.2.3.             By Product Type

8.3.2.2.4.             By Technology

8.3.2.2.5.             By Application

8.3.2.2.6.             By End User

8.3.3.     South Korea Internet of Medical Things Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Component

8.3.3.2.3.             By Product Type

8.3.3.2.4.             By Technology

8.3.3.2.5.             By Application

8.3.3.2.6.             By End User

8.3.4.     India Internet of Medical Things Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Type

8.3.4.2.2.             By Component

8.3.4.2.3.             By Product Type

8.3.4.2.4.             By Technology

8.3.4.2.5.             By Application

8.3.4.2.6.             By End User

8.3.5.     Australia Internet of Medical Things Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Type

8.3.5.2.2.             By Component

8.3.5.2.3.             By Product Type

8.3.5.2.4.             By Technology

8.3.5.2.5.             By Application

8.3.5.2.6.             By End User

8.3.6.     Indonesia Internet of Medical Things Market Outlook

8.3.6.1.         Market Size & Forecast

8.3.6.1.1.             By Value

8.3.6.2.         Market Share & Forecast

8.3.6.2.1.             By Type

8.3.6.2.2.             By Component

8.3.6.2.3.             By Product Type

8.3.6.2.4.             By Technology

8.3.6.2.5.             By Application

8.3.6.2.6.             By End User

9.    Europe Internet of Medical Things Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Component

9.2.3.     By Product Type

9.2.4.     By Technology

9.2.5.     By Application

9.2.6.     By End User

9.2.7.     By Country

9.3.  Europe: Country Analysis

9.3.1.     Germany Internet of Medical Things Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Component

9.3.1.2.3.             By Product Type

9.3.1.2.4.             By Technology

9.3.1.2.5.             By Application

9.3.1.2.6.             By End User

9.3.2.     France Internet of Medical Things Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Component

9.3.2.2.3.             By Product Type

9.3.2.2.4.             By Technology

9.3.2.2.5.             By Application

9.3.2.2.6.             By End User

9.3.3.     United Kingdom Internet of Medical Things Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Component

9.3.3.2.3.             By Product Type

9.3.3.2.4.             By Technology

9.3.3.2.5.             By Application

9.3.3.2.6.             By End User

9.3.4.     Italy Internet of Medical Things Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Type

9.3.4.2.2.             By Component

9.3.4.2.3.             By Product Type

9.3.4.2.4.             By Technology

9.3.4.2.5.             By Application

9.3.4.2.6.             By End User

9.3.5.     Spain Internet of Medical Things Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Type

9.3.5.2.2.             By Component

9.3.5.2.3.             By Product Type

9.3.5.2.4.             By Technology

9.3.5.2.5.             By Application

9.3.5.2.6.             By End User

9.3.6.     Netherlands Internet of Medical Things Market Outlook

9.3.6.1.         Market Size & Forecast

9.3.6.1.1.             By Value

9.3.6.2.         Market Share & Forecast

9.3.6.2.1.             By Type

9.3.6.2.2.             By Component

9.3.6.2.3.             By Product Type

9.3.6.2.4.