PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1752398
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1752398
The global IoT medical devices market is projected to reach USD 154.74 billion by 2030, up from USD 65.08 billion in 2025, reflecting a CAGR of 18.9% during this period. The market is growing rapidly due to an increasing demand for continuous and real-time patient monitoring, particularly with the wider adoption of telehealth. Recent innovations in low-energy sensors, 5G networks, and edge computing have made it possible to efficiently collect and transmit data from wearable and implantable devices to healthcare systems. These advancements enable more proactive and decentralized care, leading to fewer hospital readmissions. Furthermore, the rising incidence of chronic conditions and an aging global population are driving the greater use of these technologies in both home and clinical settings.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD billion) |
Segments | Product, type, connectivity technology, end user, region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
However, the market faces challenges, such as the complexity of integrating with legacy health IT infrastructure, compliance with data privacy regulations like HIPAA and GDPR, and the need to maintain strong cybersecurity to protect patient information in an increasingly connected ecosystem.
"The hospitals & clinics segment, under the IoT medical devices market, is expected to register the fastest growth during the forecast period."
In 2024, the hospitals & clinics segment emerged as the leading end user segment in the IoT medical devices market, a position it is expected to maintain in the coming years. This leadership is primarily due to the increasing demand for advanced diagnostic, monitoring, and treatment tools within healthcare facilities. By adopting IoT-enabled technologies, these institutions can enhance patient outcomes through real-time data monitoring, remote care capabilities, and streamlined clinical operations. The ability to continuously track patient vital signs and chronic health conditions allows for quicker interventions and more effective care delivery. Additionally, the integration of IoT with electronic health records (EHRs) and clinical decision-making platforms improves data accuracy and fosters better coordination among care teams. Key factors driving this trend include the push for higher efficiency, rising patient volumes, and the necessity to meet stringent regulatory and quality standards. As a result, hospitals and clinics are making substantial investments in IoT technologies to improve performance, ensure compliance, and provide more responsive, personalized patient care.
"Bluetooth-enabled IoT technology is projected to dominate the IoT medical devices market during the forecast period."
Bluetooth-enabled IoT technology is rapidly emerging as the fastest-growing connectivity option in the IoT medical devices market. This growth is primarily driven by its energy efficiency, easy integration, and wide compatibility with smartphones, tablets, and wearable healthcare devices. As more healthcare organizations adopt connected solutions for continuous monitoring and patient interaction, Bluetooth has become a reliable and cost-effective method for short-range data exchange. It plays a vital role in devices such as fitness trackers, mobile diagnostic equipment, and home health monitoring tools, where low power consumption and consistent data transfer are crucial.
"Asia Pacific is expected to register fastest market growth during the forecast period."
The Asia Pacific region is expected to experience the fastest growth in the IoT medical devices market during the forecast period. This growth is primarily driven by the rapid adoption of digital healthcare technologies, including IoT and artificial intelligence. Government initiatives aimed at improving healthcare infrastructure, combined with significant investments in smart hospitals and digital health platforms, are leading to the increased deployment of connected medical devices. Additionally, the rising demand for remote monitoring solutions, fueled by a growing elderly population and an increase in chronic health conditions, is further propelling this trend. Furthermore, enhanced telecommunications networks and supportive regulatory frameworks for digital health services are facilitating the implementation of IoT-based solutions. As a result, Asia-Pacific is emerging as a key player in the global expansion of the IoT medical device industry.
Key Players in the IoT Medical Devices Market
The key players functioning in the IoT medical devices market include Medtronic (Ireland), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Abbott (US), Boston Scientific Corporation (US), OMRON Corporation (Japan), Baxter International Inc. (US), BIOTRONIK (Germany), Johnson & Johnson Private Limited (US), NIHON KOHDEN CORPORATION (Japan), Siemens Healthineers AG (Germany), Honeywell International Inc. (US), AliveCor, Inc. (US), Dragerwerk AG & Co. KGaA (Germany), Nonin (US), AMD Global Telemedicine (US), iHealth Labs Inc (US), Aerotel Medical Systems (1998) Ltd. (Israel), i-SENS, Inc. (Korea), Huntleigh Healthcare Limited (UK), ResMed (US), Masimo (US), Infinium Medical (US), ICU Medical, Inc. (US), and Hamilton Medical (Switzerland).
Research Coverage
The report analyzes the IoT medical devices market and aims to estimate the market size and future growth potential of various market segments based on product, type, connectivity technology, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
This report will provide valuable insights for both, established companies and new or smaller firms, helping them understand market trends and dynamics. By doing so, they can increase their market share. Companies that purchase this report can employ one or more of the strategies outlined below to enhance their positions in the market.