Internet of Medical Things Industry Insights with Statistics and Growth Prediction 2019 to 2025

Internet of Medical Things Market Research Report- Forecast till 2025

Market Highlights

Factors like increasing awareness, continuous research & development for better healthcare technologies, easy drug management, easy patient’s data management’ less medical inaccuracies, monitoring of chronic diseases and others are the major factors contributing towards the seamless growth of this market. IoMT has also helped in reducing the expenditure by patients for visiting the doctor, and even real-time surveillance has helped the market moving towards more influential positions.

As an internet backed system, the data is always vulnerable to hacking or unauthorized access, which is one of the major factors damaging the market’s image and growth. In several areas, the lack of professionals and infrastructure is also responsible for limited growth. There is a need for spreading awareness and providing sufficient training to the operators for accelerating the market in struggling portions.

Market Research Future (MRFR), in its latest Global Internet of Medical Things (IoMT) Market 2020 report discuss the influence of coronavirus disease outbreak on the market. As per MRFR study of the Internet of Medical Things (IoMT) global Market, it can thrive at 25.6% CAGR in the review period 2019 to 2025. In-depth study of the effect of pandemic on the Internet of Medical Things (IoMT) is provide with the report.

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Regional Summary

The global Internet of Medical Things market is observed based on four regions America, Europe, Asia Pacific and The Middle East & Africa.

The North American region is the global market leader and will maintain the same during the projected period. Well-established healthcare facilities, excellent connectivity, rapid digitalization and adoption of new technologies are responsible for the limitless growth of the market. The European region is the second-largest market due to aware population, enhances research & development services and demand for next-generation monitoring devices.

The Asia Pacific market is in third place but will be the fastest moving market in terms of growth and expansion. Improving healthcare facilities, growing awareness, dense population, increasing incomes and demand for digital measures have helped the market to gain significant share in less advent of time.

Rest of the regions have slower growth rates compared to others due to struggling healthcare facilities, lack of awareness and slow economic growths.

Segmentation:

The segment analysis of the Internet of Medical Things (IoMT) global Market is done by Component, Product Type, Application, and Connectivity Technology.

The component based segments of the internet of medical things are systems and software, medical devices, and services. The medical devices segments are implanted medical devices, stationary medical devices, wearable, and external medical devices among others. The systems and software segments are data analytics, remote device management, application security, network bandwidth management, and network security among others. The services segments are consulting, support and maintenance, and deployment and integration among others. The wearable external medical devices segment can thrive at the highest CAGR through the forecast as there is a hike in the per-capita income of people in developing countries, along with the rise in need for ease-of-use, operation medical devices.

The Product Type, the internet of medical things market segments are implantable cardiac devices, vital signs monitoring devices, imaging systems, anesthetic machines, respiratory devices, and ventilators among others.

The Application based, internet of medical things market segments are clinical operations, workflow management, telemedicine, inpatient monitoring, connected imaging, and medication management among others. The telemedicine segments are remote patient monitoring, interactive medicine, and store-and-forward telemedicine among others.

The Connectivity Technology based segments of the internet of medical things market are near field communication, ZigBee, Wi-Fi, Bluetooth low energy, and others.

Recent Industry News

The global IoMT market is a boon for the expanding healthcare system. They are capable of grossing better results and are being adopted at considerable speeds, but factors like limited awareness and lagging healthcare facilities are damaging the market growth. The North American market is the primary global IoMT market, whereas the rapid growth in the Asia Pacific region will make it the fastest-growing market.

Competitive Analysis

MRFR profiled some reputed Internet of Medical Things (IoMT) Marketers across the globe. They are characterized by origin and regional providers. Some of these reputed players in the market are Telit, GE Healthcare, Medtronic plc, Koninklijke Philips N.V., Welch Allyn, Inc., IBM Corporation, Cisco Systems, Inc., Siemens AG, Boston Scientific Corporation, Biotronik, Johnson & Johnson Services, Inc., KORE Wireless, Agamatrix, Sciencesoft, and STANLEY Healthcare among others.

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Internet of Medical Things (IoMT) Market Research Report: By Component (Medical Devices, Systems and Software, Services), Product Type (Vital Signs Monitoring Devices, Implantable Cardiac Devices, Imaging Systems, Others), Application (Telemedicine, Connected Imaging, Others), by Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) - Forecast till 2025