Global IoT Healthcare Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

Global IoT Healthcare Market Size

• The Global IoT Healthcare market size was valued atUSD 293.21 billion in 2024 and is expected to reachUSD 1083.13 billion by 2032, at aCAGR of 15.2%during the forecast period
• This growth is driven by factors such as the Advancements in Technology, Telehealth Expansion, and Wearable Health Devices

Global IoT Healthcare Market Analysis

• IoT helps healthcare providers by enhancing patient care, keeping an eye on staff, and adhering to regulations by streamlining hospital operations. The healthcare sector now has access to remote monitoring of IoT-enabled devices. By altering how devices and people interact while delivering healthcare solutions, IoT is transforming the healthcare industry. IoT healthcare applications benefit patients, families, physicians, hospitals, and insurance companies.
• The main drivers of the expansion of the internet of things (IoT) healthcare market include increased research and development capabilities for internet of things technology, growing adoption of connected devices by the healthcare sector, and increased awareness of cutting-edge technologies such as cloud-based solutions.
• North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factor attributable to the region’s dominance are owing to the expanding use of cloud-based services. Additionally, the expansion of hospitals, cutting-edge research institutions, universities, and medical device manufacturers has a favorable effect on market expansion
• Asia-Pacific will undergo the highest growth rate during the forecast period owing to the healthcare industry's increasing use of technology. The adoption of these technologies is also being boosted by numerous government initiatives and assistance programs. In developing Asian nations, healthcare spending has increased due to better healthcare infrastructure and a rise in the use of cutting-edge technology to lower medical expenses and improve hospital operations.
• Medical Devices segment is expected to dominate the market with a market share of 49.67% due to its Advancements in Wearable Technology, Government Initiatives and Regulatory Support, Integration with Telemedicine Services

Report Scope and Global IoT Healthcare Market Segmentation

Global IoT Healthcare Market Trends

“Rise of Wearable Health Devices Revolutionizing Personalized Care”

• One of the most impactful trends in the global IoT healthcare market is the growing popularity of wearable health devices, which are transforming how individuals monitor and manage their health. These devices, such as smartwatches, fitness trackers, and biosensors, provide real-time data on heart rate, sleep patterns, physical activity, and even stress levels. The integration of AI with these devices further enhances their capabilities, offering predictive analytics to foresee potential health issues.
• As a result, wearable health devices are bridging the gap between patients and providers, fostering a proactive approach to healthcare. With major tech companies and startups investing heavily in this space, the market for wearables is expected to grow exponentially, making them a cornerstone of modern healthcare systems. This trend highlights the shift toward patient-centric solutions that combine technology, convenience, and actionable insights.
  • For instance, the Apple Watch has been instrumental in saving lives by detecting irregular heart rhythms and alerting users to potential health risks like atrial fibrillation. This trend is driven by consumers' increasing focus on preventive healthcare and the convenience of accessing health insights anytime, anywhere. Wearables empower individuals to take charge of their well-being while enabling doctors to gather valuable data for more accurate diagnoses and personalized treatment plans.

Global IoT Healthcare Market Dynamics

Driver

“Connected mobile application in the healthcare sector drives the market”

• The healthcare sector is seeing an increase in health-connected devices and the growth of the connected medical device market as connected technology becomes more pervasive in daily life. With the aid of connected medical equipment and medical mobile applications, IoMT links data (patient information or performance data), people (patients, clinicians, and caregivers), and processes (healthcare delivery and patient support).
• Healthcare consumers and professionals are embracing connected devices and IoMT because they provide numerous advantages such as real-time patient monitoring, more individualized care, and increased safety.

For instance,

• Dexcom launched its G7 CGM system in the U.S. in February 2023, introducing a next-generation connected medical device designed for people with diabetes. The device continuously monitors glucose levels and transmits data in real time to a dedicated mobile application on a smartphone or smartwatch. This eliminates the need for fingerstick tests and allows for continuous, real-time glucose tracking.

Opportunity

“IoT-connected smart devices create lucrative opportunities for health insurance companies”

• With IoT-connected intelligent devices, health insurers have a variety of opportunities. Health monitoring device data may be used by insurance companies for underwriting and claims processing. Using this data, they will be able to recognize candidates for underwriting and detect fraud claims. IoT devices increase transparency between insurers and customers in the underwriting, pricing, claims management, and risk assessment processes.
• Customers will have adequate insight into the underlying logic behind each decision made and process outcomes as a result of IoT-captured data-driven decisions in all operating processes.

For instance,

• In September 2018, John Hancock became one of the first major U.S. life insurance companies to offer interactive life insurance policies that are connected to IoT-enabled wearable devices through its Vitality Program. The program rewards policyholders for healthy behavior such as walking, exercising, or regular health check-ups, all tracked via devices like Apple Watch or Fitbit.

Restraint/Challenge

“Growing surface attacks with IoT devices limits the market growth”

• The expanding role of technology in healthcare has pros and cons. There are countless advantages, but there are also countless chances for criminals to steal the most private data. Data security and privacy are serious threats posed by IoT with its increasing adoption, which makes the healthcare sector even more vulnerable to cyberattacks.
• The Personal Health Information (PHI) of both patients and doctors is compromised as a result of these attacks, which give cybercriminals access to healthcare systems. The graph of cyberattacks also rises as technology advances which limits the market growth

For instance,

On September 27, 2020, Universal Health Services (UHS), one of the largest healthcare providers in the U.S., was hit by a massive ransomware attack that affected over 400 hospitals and care sites. The attack disrupted systems used for electronic health records (EHRs), laboratory systems, and connected medical devices—many of which relied on IoT infrastructure.

Global IoT Healthcare Market Scope

The internet of things (IoT) healthcare market is segmented on the basis of component, product, application, connectivity technology, end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

In 2025, the Medical Devices is projected to dominate the market with a largest share in application segment

In 2025, medical devices are expected to lead the IoT healthcare market, taking the largest share 53.67% in the application segment. This means that more hospitals, clinics, and even home users will be relying on smart medical devices like connected monitors, wearable health trackers, and remote diagnostic tools. These devices are becoming essential for real-time patient monitoring, chronic disease management, and early detection of health issues. Their ability to collect and share health data instantly makes them a powerful tool for doctors and patients alike. As healthcare moves toward more personalized and preventive care, these smart devices are playing a central role.

The Wearable External Medical Devices is expected to account for the largest share during the forecast period in technology market

Wearable external medical devices are expected to take the largest share 49.32% of the IoT healthcare technology market during the forecast period. These include smartwatches, fitness trackers, ECG monitors, and continuous glucose monitors that people wear on their bodies to track health in real time. Their popularity is growing because they’re easy to use, non-invasive, and provide instant health insights. More people are using them to stay on top of their fitness goals or manage chronic conditions like diabetes or heart disease. Doctors and caregivers also benefit, as these devices help monitor patients remotely and spot issues early. As technology improves, these wearables are becoming more accurate and packed with features like heart rate tracking, sleep monitoring, and blood oxygen level detection.

Global IoT Healthcare Market Regional Analysis

“North America Holds the Largest Share in the Global IoT Healthcare Market”

• North America holds the biggest share 54.76% of the global IoT healthcare market, and it’s mainly because the region is ahead in both healthcare and technology. The U.S. and Canada have well-developed healthcare systems that are quick to adopt new innovations like connected medical devices and remote monitoring tools.
• There's also strong government support for digital health and large investments from both public and private sectors. Tech giants like Apple, Google, and Microsoft are heavily involved in healthcare IoT projects, driving even more growth.
• People in North America are generally more aware of their health and open to using smart devices like wearables and health apps. Insurance companies are also using IoT data to improve services and personalize coverage.
• High internet and smartphone penetration makes it easier for users to adopt these technologies. Plus, there’s a large number of startups in the region constantly bringing new ideas and solutions. All of this combined puts North America in the lead when it comes to IoT in healthcare.

“Asia-Pacific is Projected to Register the Highest CAGR in the Global IoT Healthcare Market”

• Asia-Pacific is expected the Highest CAGR 7.23% in the global IoT healthcare market over the coming years. This rapid rise is driven by a mix of increasing healthcare needs, growing populations, and fast-paced digital transformation in countries like China, India, Japan, and South Korea. More hospitals and clinics in the region are adopting smart healthcare solutions, including remote patient monitoring and connected medical devices.
• Governments are also investing heavily in digital health infrastructure to improve access and efficiency. With rising awareness about personal health and fitness, wearable devices are gaining popularity among consumers. Smartphone and internet usage is booming in the region, making it easier for people to use health apps and connected devices. Local tech companies are also entering the healthcare space, offering innovative and affordable IoT solutions.

Global IoT Healthcare Market Share

The internet of things (IoT) healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to internet of things (IoT) healthcare market.

The Major Market Leaders Operating in the Market Are:

• Cisco Systems, Inc. (U.S.)
• Microsoft (U.S.)
• Apple Inc. (U.S.)
• SAP SE (Germany)
• Oracle (U.S.)
• Siemens (Germany)
• ABB (Switzerland)
• Huawei Technologies Co., Ltd (China)
• Hitachi Vantara LLC (U.S.)
• Qualcomm Technologies, Inc. (U.S.)
• Rockwell Automation (U.S.)
• General Electric (U.S.)
• Koninklijke Philips N.V (Netherlands)
• Boston Scientific Corporation (U.S.)
• Honeywell International Inc. (U.S.)
• BL Healthcare, Inc (U.S.)
• Preventice Solutions Inc (U.S.)
• Medtronic (Ireland)
• BIOSERENITY (France)

Latest Developments in Global  IoT Healthcare Market

• In 2024, Cisco introduced Secure Equipment Access, a solution designed to enhance the security of medical devices in healthcare environments. This innovation addresses the growing concerns over cybersecurity threats targeting IoT-connected medical devices, ensuring safer healthcare delivery.​
• In June 2024 Medtronic unveiled its latest IoT-enabled glucose monitoring device. The device offers real-time data access for both patients and healthcare providers, providing continuous glucose monitoring and valuable insights. By enhancing connectivity and utilizing data analytics, this innovation aims to improve diabetes management and treatment efficiency, ultimately boosting patient outcomes.
• In January 2024, Siemens Healthineers launched an advanced IoT solution for smart imaging diagnostics, integrating AI-driven analytics to enhance picture interpretation. This technology allows for more accurate and efficient diagnostic procedures by enabling remote consultations and real-time data sharing. It optimizes patient care by leveraging creative connectivity to improve workflow efficiency and precision in diagnoses.
• In April 2024, Philips introduced a new remote patient monitoring platform designed to simplify the management of chronic diseases. The platform uses IoT technology, wearable devices, and mobile apps to provide healthcare professionals with continuous patient data. This system enables quicker interventions, personalized care, and greater patient engagement, ultimately improving clinical outcomes and enhancing overall care 

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