The global internet of medical things (IoMT) market, valued at $99.74bn in 2024, is projected to experience a CAGR of 17.1% to reach $257.16bn by 2030, according to Research & Markets.

The IoMT market encompasses the interconnected ecosystem of medical devices, sensors and software facilitating health data exchange and analysis for enhanced healthcare delivery. Drivers propelling this market include the increasing prevalence of chronic diseases, a growing aging population, and the escalating demand for remote patient monitoring and telemedicine.

The growing adoption of remote patient monitoring stands as a significant driver for the global IoMT market. IoMT devices, including wearables and smart sensors, facilitate continuous health data collection outside traditional clinical environments, allowing for proactive health management and timely interventions.

This shift towards home-based care models, amplified by advancements in connectivity and device miniaturisation, directly increases the demand for interconnected medical technologies. For example, remote monitoring systems help manage chronic conditions by tracking vital signs such as blood pressure and glucose levels, thereby reducing the need for frequent in-person visits.

Pervasive data security and privacy concerns represent a significant impediment to the growth of the market. The very nature of IoMT involves the collection, transmission and analysis of highly sensitive patient health information across various interconnected devices and platforms. This inherent vulnerability to cyber threats creates apprehension among healthcare providers and patients regarding the confidentiality and integrity of their personal medical data.

This apprehension directly hampers market expansion by fostering reluctance in the adoption of IoMT. Healthcare organisations face considerable reputational and financial risks associated with data breaches, including potential regulatory fines and loss of patient trust.

The integration of AI and machine-learning powered IoMT analytics is transforming how healthcare data is used, moving beyond simple collection to interpretation and predictive insights. These technologies enable the analysis of vast datasets from interconnected medical devices, facilitating early disease detection, personalised treatment plans and optimised operational workflows.

For instance, according to the Philips’ Future Health Index, AI for clinical decision support was already being leveraged in 2024 for in-hospital patient monitoring by 43% of healthcare leaders, with further investments anticipated. This shift allows healthcare providers to identify at-risk patients proactively and intervene effectively.

This growing adoption is also evident in broader medical practices, as an October 2024 poll by the Medical Group Management Association (MGMA) indicated that 43% of medical groups reported adding or expanding the use of AI, a notable increase from 21% in 2023.

More information on the report can be found at www.researchandmarkets.com/reports/5570965/internet-of-medical-things-market-global.