Internet of Things (IoT) in Healthcare Market Trends

Global Internet of Things (IoT) in Healthcare Market size was valued at USD 44.21 billion in 2023 and is poised to grow from USD 53.58 billion in 2024 to USD 249.48 billion by 2032, growing at a CAGR of 21.2% during the forecast period (2025-2032).

Global internet of things (IoT) in healthcare market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Siemens AG (Germany) ', 'GE Healthcare (United States) ', 'Medtronic plc (Ireland) ', 'Philips Healthcare (Netherlands) ', 'IBM Corporation (United States) ', 'Oracle Corporation (United States) ', 'Cisco Systems, Inc. (United States) ', 'Honeywell International Inc. (United States) ', 'Qualcomm Incorporated (United States) ', 'Intel Corporation (United States) ', 'Microsoft Corporation (United States) ', 'SAP SE (Germany) ', 'Johnson & Johnson (United States) ', 'Abbott Laboratories (United States) ', 'Boston Scientific Corporation (United States) ', 'Medtronic plc (Ireland) ', 'Cerner Corporation (United States) ', '3M Health Care (United States)'

Highly developed medical device technology in healthcare to ensure patient safety in an efficient and effective procedure is bolstering the demand for IoT in healthcare. The development of connected care, investments in adopting digital technologies in healthcare facilities, and increasing wearable technology use are the main drivers of industry growth. The market is expanding as a result of technological developments, a growing elderly population, and the incidence of chronic diseases.

Increasing self-health care as early-life issues are becoming more prevalent and are currently in the trend. Furthermore, the rising health consciousness is driving the young and physically active population to promote wearable technology. It is also now feasible to track health issues and aware remote patients with chronic illnesses. Individuals are also increasingly supporting wearable medical devices to conduct routine health checks.

Asia Pacific is anticipated to hold the largest share in the global internet of things (IoT) in healthcare market over the anticipated period owing to the presence of various countries including India, China, South Korea, and others where governments are focussing on the remote health solutions. Due to the increasing population-base in India coupled with the high investments by the government are creating growth opportunities in the healthcare sector, resulting in the regional growth in IoT healthcare market.