Internet-of-Medical-Things (IoMT) Market – Industry Trends & Forecast to 2026 with key market like GENERAL ELECTRIC COMPANY; CARRÉ TECHNOLOGIES INC.; Breathometer Inc.; Medtronic; Meru Health, Inc.; Boston Scientific Corporation
Internet-of-Medical-Things (IoMT) Market By Product Type (Smart Wearable Devices, Home-Use Medical Devices, Point-Of-Care Kits), Services (On-Premise Based Services, Cloud-Based Services)Application (Real-Time Monitoring, End-to-End Connectivity, Data Assortment & Analysis, Tracking & Alerts, Remote Medical Assistance),End-User (Hospitals & Clinics, Research Institutes & Academics, Homecare) , Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Internet-of-Medical-Things (IoMT) Market
Global Internet-of-Medical-Things (IoMT) market is expected to register a CAGR of 38.67% in the forecast period of 2021-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the efficiency of resources and available infrastructure due to the usage of IoMT.
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Market Definition: Global Internet-of-Medical-Things (IoMT) Market
Internet- of- Medical- Things (IoMT) is a specific category of applications of the Internet of Things for healthcare services. This technology enables the interconnectivity of medical devices over a common network which results in exchange of valuable patient information helping in better delivery of healthcare services. IoMT involves designing of specified health solutions depending on the data collected through wearable medical devices.
Market Drivers
Increasing adoption of wearable devices and real-time healthcare service provision with the adoption of IoMT; this factor is expected to drive the market growth
Cutback on expenditure incurred by patients due to a reduction of visitation to the physician, as IoMT helps in continuous monitoring of health in individuals
Market Restraints
Concerns regarding privacy of data amid growing levels of hacking and unauthorized access; this factor is expected to restrain the market growth
Concerns associated with the lack of infrastructure and requirement of skilled professionals; this factor is expected to restrain the growth of the market
Segmentation: Global Internet-of-Medical-Things (IoMT) Market
By Product Type
· Smart Wearable Devices
· Home-Use Medical Devices
· Point-Of-Care Kits
By Services
· On-Premise Based Services
· Cloud-Based Services
By Application
· Real-Time Monitoring
· End-to-End Connectivity
· Data Assortment & Analysis
· Tracking & Alerts
· Remote Medical Assistance
By End-User
· Hospitals & Clinics
· Research Institutes & Academics
· Homecare
By Geography
· North America
· U.S.
· Canada
· Mexico
· Europe
· Germany
· Italy
· U.K.
· France
· Spain
· Netherlands
· Belgium
· Switzerland
· Turkey
· Russia
· Rest of Europe
· Asia-Pacific
· Japan
· China
· India
· South Korea
· Australia
· Singapore
· Malaysia
· Thailand
· Indonesia
· Philippines
· Rest of Asia-Pacific
· South America
· Brazil
· Rest of South America
· Middle East and Africa
· South Africa
· Rest of Middle East & Africa
Key Developments in the Market:
In January 2019, Proteus Digital Health in partnership with Fairview Health Services and University of Minnesota Health announced the launch of digital oncology medicines for cancer patients significantly helping in improving the outcomes of treatment. This digital technology helps the patients in completing their oral chemotherapy course and provides physician’s with patient information.
In March 2017, GENERAL ELECTRIC COMPANY announced that they had acquired Monica Healthcare, expanding their Maternal-Infant Care business division. This acquisition will help in innovations and enhanced product offerings for expecting mothers and babies globally. Monica Healthcare is focused on improving the birth experience for mothers by involving the usage of wireless fetal monitoring devices.
Competitive Analysis:
Global Internet-of-Medical-Things (IoMT) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Internet-of-Medical-Things (IoMT) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global Internet-of-Medical-Things (IoMT) market are LifeFuels Inc.; GENERAL ELECTRIC COMPANY; CARRÉ TECHNOLOGIES INC.; Breathometer Inc.; Medtronic; Meru Health, Inc.; Boston Scientific Corporation; Atlas Wearables, Inc.; Proteus Digital Health; NeuroMetrix, Inc.; Honeywell International Inc.; VitalConnect; Ekso Bionics; BL Healthcare, Inc; BioSerenity; Preventice Solutions, Inc.; Lenovo; Vitls Inc.; AliveCor, Inc. and Chrono Therapeutics Inc.
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Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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