Internet of Medical Things (IoMT) Market is expected to gain market growth to reach USD 1,84,592.31 million at a CAGR of 23.0% in the forecast period of 2021 to 2028. Internet of Medical Things (IoMT) Market report contains detailed information on factors influencing opportunities, demand, growth, challenges, drivers, and restraints. It provides detailed information about the structure of global and regional industries. The report also includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Internet of Medical Things (IoMT) Market by region.
Important contents analyzed and discussed in the report include market size, operation situation, segments, business development, consumption tendencies, and current & future development trends of the market. Moreover, the report includes the list of major competitors and their competition data that helps the user to determine their current position in the market and take corrective measures to maintain or increase their share holds.
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Rising Focus on Active Patient Engagement and Patient-Centric Care is boosting the Market Growth of Global Internet of Medical Things (IoMT) Market.
Global Internet of Medical Things (IoMT) market also provides you with a detailed market analysis for every region's growth in the particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence.
Top Players Analysed in the Report are:
Siemens Healthcare GMBH, GE Digital (A Subsidiary of General Electric), Biotronik, Bioserenity, Medtronic, Boston Scientific Corporation, Hill-Rom Holdings, Inc., Honeywell International Inc., Philips, Lenovo Healthcare Information Technology (Lenovo HIT), AliveCor, Inc., VitalConnect, Meru Health
Internet of Medical Things (IoMT) Market Development-
· In April 2021, Hillrom, Inc. launched digital assessment innovations with the new Welch Allyn PanOptic Plus Ophthalmoscope and the Welch Allyn MacroView Plus Otoscope. These devices are designed to help clinicians make earlier and more accurate diagnoses of ear and eye conditions that may provide more options for effective treatment.
· In September 2018, VitalConnect. Enabled in-home monitoring for VitalPatch measures single-lead ECG, heart rate, respiration rate, skin temperature, activity, and even body position. There is a shared web-based dashboard called Vista Solution. This smart patch is assisting hospital staff in monitoring patients' vital signs and other factors.
The report includes company profiling of almost all important players of the Internet of Medical Things (IoMT) market. The company profiling section offers valuable analysis on strengths and weaknesses, market presence, business developments, recent advancements, expansion plans, mergers and acquisitions, global footprint, and product portfolios of leading market players. This information can be used by players and other market participants to streamline their business strategies & maximize their profitability. Our competitive analysis also includes key information to help new entrants identify market entry barriers and measure the level of competitiveness in the Internet of Medical Things (IoMT) market.
Geographic Segment Covered in the Report:
• North America (the USA and Canada)
• Europe (UK, France, Germany, and the rest of Europe)
• Asia Pacific (China, India, Japan, and the rest of the Asia Pacific)
• Latin America (Mexico, Brazil, and the rest of Latin America)
• The Middle East and Africa (GCC and rest of the Middle East and Africa)
Global Internet-of-Medical-Things (IoMT) market is expected to register a CAGR of 38.67% in the forecast period of 2019–2026.
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.
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 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 marketMarket 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 individualsSegmentation: Global Internet-of-Medical-Things (IoMT) MarketGlobal 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 2026For More information visit @ https://databridgemarketresearch.com/reports/global-internet-of-medical-things-iomt-marketKey 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.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 need for IoT healthcare has increased because of an aging population, expensive medical services, and outdated healthcare infrastructure.
Affordable and innovative health care is a future reality.
The IoT allows us to change this industry fundamentally.IoT healthcare’s evolution brings along numerous and undeniable benefits.
The IoT and healthcare allowed for the creation of incredible solutions for many pressing problems.
These help us reduce health costs and waiting time, and make healthcare and medical checks accessible to everyone from home.More details about the benefits of applying IoT in healthcare can be found here.
The global internet of medical things (IoMT) market size is anticipated to reach USD 142.45 billion by 2026, with a CAGR of 28.9%, on account of the increasing prevalence of chronic diseases.
This, coupled with the improving healthcare infrastructure and facilities worldwide, is primarily contributing to the growth of the market.
Internet of medical things consists of a system of interrelated devices that are either connected to each other or with an external network.
These devices are capable of sharing information amongst themselves with the help of internet connectivity.
The advent of technological advancement in medical devices, coupled with the rise in disposable incomes of people, is anticipated to help increase the popularity of smart medical devices, ultimately boosting the Internet of Medical Things market growth.Increasing Awareness about Advantages of Smart Healthcare Products to Drive MarketThe Internet of medical things offers various advantages such as real-time monitoring, improved drug management, improved patient outcomes, and a reduction in medical expenditure.
Besides this, the improved efficiencies of smart healthcare devices, coupled with the rise in research and development of advanced devices and rise in awareness about them, are expected to attract high revenues during the forecast duration.
