According to a market report by Lucintel, the future of the global internet of medical thing (IoMT) market looks promising with opportunities in the hospital & clinic, home care, and research institute markets. The global internet of medical thing market is expected to reach an estimated $140.7 billion by 2028 with a CAGR of 24% from 2023 to 2028. The major drivers for this market are emergence of 5G technology, growing adoption of connected devices in the healthcare sector, and increasing adoption of smart wearable gadgets for efficient patient monitoring and asset management.
Telemedicine, patient monitoring, and medication management are the major segments of internet of medical thing market by application. Lucintel forecasts that telemedicine will remain the largest segment over the forecast period due to the expanding use of this technology to enable real-time data sharing and efficient communication in the healthcare industry.
Within this market, hospitals & clinics will remain the largest segment due to increasing cases of chronic diseases, growing demand for regular health check -ups among patients, and rising acceptance of modern technology in healthcare facilities to monitor patients' health conditions.
North America will remain the largest region over the forecast period due to rising preference for self-health management among patients, the presence of well-established healthcare infrastructure, and the presence of key players in the region.
GE healthcare, Koninklijke Philips, Medtronic MiniMed, LifeFuels, Meru Health, Breathometer, and Carre Technologies are the major suppliers in the global internet of medical thing market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global internet of medical thing market by product type, application, end use, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Internet of Medical Thing Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global internet of medical thing market by product type, application, end use, and region, as follows:
Internet of Medical Thing Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:
Smart Wearables
Point of Care Kits
Home Use Devices
Internet of Medical Thing Market by Application [Shipment Analysis by Value from 2017 to 2028]:
Telemedicine
Patient Monitoring
Medication Management
Others
Internet of Medical Thing Market by End Use [Shipment Analysis by Value from 2017 to 2028]:
Hospitals & Clinics
Home Care
Research Institutes
Internet of Medical Thing Market by Region [Shipment Analysis by Value from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global internet of medical thing market by product type (smart wearables, point of care kits, and home use devices), application (telemedicine, patient monitoring, medication management, and others), end use (hospitals & clinics, home care, and research institutes), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?