IoMT market forecast to reach $257.16b by 2030

Chronic disease and remote monitoring will underpin this growth.

The global Internet of Medical Things (IoMT) market is forecast to reach $257.16b by 2030, up from $99.74b in 2024, representing a compound annual growth rate (CAGR) of 17.10%, according to a ResearchAndMarkets report. 

The report attributed market growth to rising prevalence of chronic diseases, ageing populations and increasing demand for remote patient monitoring and telemedicine solutions. These factors are supporting wider deployment of connected medical devices across hospitals, clinics and home-care settings.

ResearchAndMarkets highlighted the growing use of artificial intelligence and machine-learning tools to analyse data generated by connected medical devices. It also identified data security and privacy concerns as key challenges affecting IoMT adoption.

The report segmented the market by component, product type, technology, application, end user and region. It also identified healthcare providers, medical device manufacturers and technology vendors as key market participants.