Internet of Things in Healthcare Market Analysis

ID: MRFR/HC/9187-HCR

200 Pages

Rahul Gotadki

October 2025

Internet of Things (IoT) in Healthcare Market Research Report By Application (Patient Monitoring, Medication Management, Telemedicine, Clinical Operations, Asset Management), By Component (Devices, Software, Services), By End Use (Hospitals, Diagnostics Centers, Home Care), By Technology (Wearable Technology, Remote Patient Monitoring, Smart Medical Devices) and By Regional (North America, Euro...

Internet of Things in Healthcare Market Infographic

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Market Analysis

In-depth Analysis of Internet of Things in Healthcare Market Industry Landscape

The global internet of things in healthcare market is set to reach US$ 996.25 BN by 2032, at a 25.5% CAGR between years 2023-2032. The IoT is transforming the health care sector to create a market ecosystem that promotes technological advancements, data analytics capabilities and better solutions for patients. The factors controlling the market dynamics of IoT in healthcare comprise many important aspects such as smart devices integration, increased connectivity, and fervent need for real-time health tracking. A major factor is the use of smart devices and sensors which collect health-related data. Using wearable devices, such as fitness trackers and smart watches, people can monitor their vital signs-heart rate activity levels even chronic conditions in real time. These devices help create a repository of continuous personalized data on health enabling both patients and providers to make informed decisions about active management. The IoT connectivity of healthcare devices contributes significantly to the market dynamics. Various connected medical devices, including remote monitoring equipment and implantable sensors, allow patients to communicate securely with healthcare providers. This inter-connection promotes remote patient monitoring, timely intervention, and better treatment outcomes. Therefore, the market is seeing increasing demand for connected healthcare solutions that improve communication and cooperation in the entire health space. Real-time health state monitoring is an innovative aspect of IoT in the healthcare market dynamics. Capacity to observe a patient’s vital signs and health parameters in real time enables early detection of potential emergent manifestations, allowing for timely interventions. With this proactive approach, not only patient outcomes improve but also healthcare costs cut down due to minimizing the cases that may need emergency interventions and hospital readmissions. IoT devices in healthcare result in a growth of data analytics and AI-based applications. The market dynamics are determined by the integration of advanced analytics and AI algorithms to process large numbers into actionable insights. These findings facilitate clinical decision-making, tailored treatment approaches and population health management improving the penetration of IoT technologies in healthcare.

Market Highlights

Author

Rahul Gotadki

Assistant Manager

He holds an experience of about 7+ years in Market Research and Business Consulting, working under the spectrum of Life Sciences and Healthcare domains. Rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. His expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. In addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives

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FAQs

Which application segment is estimated to have the highest market value in 2035?

The Patient Monitoring application segment is estimated to have the highest market value, projected at 70.0 USD Billion in 2035.

What is the estimated market size for the North America region in 2024?

The estimated market size for the North America region is valued at 25.0 USD Billion in 2024.

Which key players are significant in the Global Internet of Things in Healthcare Market?

Significant key players include IBM, SAP, Philips, Roche, GE Healthcare and others.

What will be the market size for Medication Management in 2035?

The market size for Medication Management is expected to reach 55.0 USD Billion by 2035.

How much is the Asset Management segment expected to grow by 2035?

The Asset Management segment is expected to grow to 10.0 USD Billion by 2035.

What is the projected market value for the Europe region in 2024?

The projected market value for the Europe region is estimated at 15.0 USD Billion in 2024.

What overall market size is expected for the Global Internet of Things in Healthcare Market in 2024?

The overall market size is expected to be valued at 49.95 USD Billion in 2024.

How much is the Telemedicine application expected to be valued in 2035?

The Telemedicine application is expected to be valued at 40.0 USD Billion in 2035.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per MRFR analysis, the Internet of Things (IoT) in Healthcare Market was estimated at 60.34 USD Billion in 2024. The IoT in Healthcare industry is projected to grow from 67.29 USD Billion in 2025 to 200.01 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 11.51 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Internet of Things (IoT) in Healthcare Market is experiencing robust growth driven by technological advancements and increasing demand for remote solutions.

The market is witnessing increased adoption of wearable devices, particularly in North America, which remains the largest market.
Enhanced data analytics capabilities are becoming crucial for effective patient monitoring, especially in the Patient Monitoring segment.
There is a growing focus on interoperability and integration, which is essential for the fast-growing Telemedicine segment in the Asia-Pacific region.
Rising demand for remote patient monitoring and advancements in IoT technology are key drivers propelling market expansion.

Internet of Things in Healthcare Market

CAGR

11.51%

Market Size & Forecast

2024 Market Size	60.34 (USD Billion)
2035 Market Size	200.01 (USD Billion)
CAGR (2025 - 2035)	11.51%
Largest Regional Market Share in 2024	North America

Major Players

Philips (NL), GE Healthcare (US), Siemens Healthineers (DE), Medtronic (US), IBM (US), Cisco (US), Honeywell (US), Oracle (US), Samsung (KR)

Market Trends

The Internet of Things (IoT) in Healthcare Market is currently experiencing a transformative phase, characterized by the integration of advanced technologies that enhance patient care and operational efficiency. This market encompasses a wide array of devices and applications, including wearable health monitors, remote patient management systems, and smart medical equipment. As healthcare providers increasingly adopt IoT solutions, the potential for improved patient outcomes and streamlined processes becomes more apparent. The ongoing evolution of data analytics and connectivity is likely to further drive innovation in this sector, enabling real-time monitoring and personalized treatment plans. Moreover, the growing emphasis on preventive care and chronic disease management appears to be a significant factor influencing the expansion of the Internet of Things (IoT) in Healthcare Market. By leveraging connected devices, healthcare professionals can gather valuable insights into patient health, facilitating timely interventions and reducing hospital readmissions. The collaboration between technology companies and healthcare organizations seems to foster an environment ripe for innovation, suggesting that the future of healthcare may be increasingly reliant on IoT solutions to meet the demands of a dynamic healthcare landscape.

Increased Adoption of Wearable Devices

The trend towards wearable health technology is gaining momentum, as more individuals utilize devices that monitor vital signs and physical activity. These wearables not only empower patients to take charge of their health but also provide healthcare providers with critical data for informed decision-making.

Enhanced Data Analytics Capabilities

The integration of sophisticated data analytics tools within the Internet of Things (IoT) in Healthcare Market is becoming more prevalent. This trend enables healthcare organizations to analyze vast amounts of data collected from connected devices, leading to improved patient outcomes and operational efficiencies.

Focus on Interoperability and Integration

There is a growing emphasis on ensuring that various IoT devices and systems can communicate effectively with one another. This trend towards interoperability is crucial for creating a seamless healthcare ecosystem, allowing for better data sharing and collaboration among healthcare providers.

The integration of IoT technologies in healthcare is poised to enhance patient outcomes and streamline operational efficiencies, reflecting a transformative shift in the delivery of medical services.

U.S. Department of Health and Human Services

Internet of Things in Healthcare Market Market Drivers

Advancements in IoT Technology

Technological advancements play a crucial role in the evolution of the Internet of Things (IoT) in Healthcare Market. Innovations in sensor technology, connectivity, and data processing capabilities are enabling the development of more sophisticated healthcare applications. For instance, the emergence of 5G technology is expected to enhance the performance of IoT devices, allowing for faster data transmission and improved reliability. This is particularly important for applications that require real-time data analysis, such as telemedicine and remote surgery. Furthermore, the integration of artificial intelligence with IoT devices is likely to enhance predictive analytics, enabling healthcare providers to make more informed decisions. As these technologies continue to evolve, they are expected to drive further adoption of IoT solutions in healthcare, ultimately leading to improved patient care and operational efficiency.

Growing Focus on Preventive Healthcare

The Internet of Things (IoT) in Healthcare Market is increasingly influenced by a growing focus on preventive healthcare. This shift is characterized by a proactive approach to health management, where individuals and healthcare providers prioritize prevention over treatment. IoT devices, such as wearables and smart health monitors, facilitate this transition by providing real-time health data that can be used to identify potential health issues before they escalate. Market data indicates that the preventive healthcare segment is expected to witness substantial growth, driven by rising healthcare costs and a greater emphasis on wellness. By leveraging IoT technologies, healthcare systems can enhance their preventive care strategies, leading to better health outcomes and reduced healthcare expenditures. This trend underscores the importance of integrating IoT solutions into healthcare practices to foster a culture of prevention.

Regulatory Support and Standardization

Regulatory support and standardization are emerging as key drivers in the Internet of Things (IoT) in Healthcare Market. Governments and regulatory bodies are increasingly recognizing the potential of IoT technologies to improve healthcare delivery and patient outcomes. Initiatives aimed at establishing standards for data security, interoperability, and device certification are gaining traction. Such regulatory frameworks are essential for fostering trust among stakeholders and ensuring the safe deployment of IoT solutions in healthcare settings. Moreover, as regulations evolve, they are likely to encourage innovation and investment in IoT technologies. This supportive environment may lead to the development of new applications and services that enhance patient care. Consequently, the alignment of regulatory efforts with technological advancements is expected to play a pivotal role in shaping the future of IoT in healthcare.

Rising Demand for Remote Patient Monitoring

The Internet of Things (IoT) in Healthcare Market is witnessing a notable increase in the demand for remote patient monitoring solutions. This trend is driven by the need for continuous health monitoring, particularly for chronic disease management. According to recent data, the remote patient monitoring segment is projected to grow at a compound annual growth rate of over 25% in the coming years. This growth is largely attributed to the increasing prevalence of chronic diseases and the aging population, which necessitates innovative healthcare solutions. Remote monitoring devices enable healthcare providers to track patient health metrics in real-time, thereby enhancing patient engagement and improving health outcomes. As a result, the integration of IoT technologies into healthcare systems is becoming increasingly vital, as it allows for timely interventions and reduces the need for hospital visits.

Increased Investment in Healthcare Technology

Investment in healthcare technology is a significant driver of growth in the Internet of Things (IoT) in Healthcare Market. As healthcare organizations seek to enhance operational efficiency and improve patient care, they are increasingly allocating resources towards IoT solutions. Recent reports indicate that healthcare technology investments are projected to reach several billion dollars in the next few years, reflecting a strong commitment to digital transformation. This influx of capital is likely to accelerate the development and deployment of IoT devices and applications, ranging from smart medical equipment to advanced data analytics platforms. Furthermore, as healthcare providers recognize the value of data-driven decision-making, the demand for IoT solutions that facilitate real-time data collection and analysis is expected to rise. This trend underscores the critical role of investment in driving innovation and improving healthcare outcomes through IoT technologies.

Market Segment Insights

By Application: Patient Monitoring (Largest) vs. Telemedicine (Fastest-Growing)

Within the Internet of Things (IoT) in Healthcare Market, the application segment is predominantly driven by patient monitoring, which commands the largest market share. This segment encompasses various IoT-enabled devices that facilitate real-time health tracking and data analysis, making it crucial in enhancing patient care and outcomes. Following closely, telemedicine is emerging as a key player, leveraging IoT technologies to enhance remote consultations and healthcare delivery, making this area ripe for growth.

Patient Monitoring (Dominant) vs. Telemedicine (Emerging)

Patient monitoring in IoT healthcare is characterized by devices and systems designed to observe patients' health metrics in real-time, enabling timely interventions and proactive care. This segment is often pivotal in chronic disease management and preventive healthcare. Conversely, telemedicine, referred to as the fastest-growing application, integrates IoT to facilitate virtual consultations over digital platforms, thereby expanding access to medical professionals. The surge in telemedicine can be attributed to increased demand for remote healthcare services, improved internet connectivity, and advanced mobile health technologies, which make healthcare delivery more accessible and efficient.

By Component: Devices (Largest) vs. Software (Fastest-Growing)

In the Internet of Things (IoT) in Healthcare Market, the component segment has experienced a diverse allocation of market share across its values. Devices possess the largest share, representing a crucial element within the ecosystem, featuring a wide range of connected tools such as wearables, monitoring equipment, and diagnostic devices. Conversely, Software is rapidly gaining traction as it encompasses a growing suite of applications designed to optimize patient care and operational efficiency, solidifying its reputation as the fastest-growing segment in the market.

Devices (Dominant) vs. Software (Emerging)

Devices dominate the IoT in Healthcare realm, serving as the primary interface through which data is collected and monitored. This segment includes an array of products like smart sensors, health trackers, and remote patient monitoring solutions. Their widespread adoption is driven by the increasing demand for real-time health monitoring and chronic disease management. On the other hand, the Software segment, emerging at a swift pace, focuses on analytics, cloud-based management systems, and integrated platforms for data processing and visualization. This trend reflects the growing importance of data analytics in enhancing patient outcomes and operational efficiency, marking software as a key player in the future of healthcare.

By End-Use: Hospitals (Largest) vs. Home Care (Fastest-Growing)

In the IoT in Healthcare Market, hospitals dominate the end-use segment, commanding a significant share due to their extensive adoption of advanced technologies for patient monitoring and care management. This involves integrating various IoT devices that improve operational efficiency and enhance patient outcomes. On the other hand, home care is rapidly gaining traction, with an increasing number of patients and caregivers adopting IoT solutions to monitor health conditions remotely, underscoring a shift towards more personalized healthcare solutions.

End-Use: Hospitals (Dominant) vs. Home Care (Emerging)

Hospitals represent the dominant application of IoT technology in healthcare, characterized by large-scale implementations that enhance service delivery and patient safety. Their need for real-time data analytics and device connectivity drives the development of IoT applications tailored for improved patient management and operational efficiency. Conversely, home care emerges as a rapidly expanding segment, with devices designed for remote patient monitoring, medication adherence, and chronic disease management. This segment appeals to tech-savvy consumers who seek convenience and efficiency in managing their health, supported by an increasing trend towards telehealth services that encourage patient engagement and independence.

By Technology: Wearable Technology (Largest) vs. Remote Patient Monitoring (Fastest-Growing)

The Internet of Things (IoT) in Healthcare market is seeing a diverse landscape with three primary segments: Wearable Technology, Remote Patient Monitoring, and Smart Medical Devices. Wearable Technology holds the largest market share, driven by the widespread adoption of fitness trackers and smartwatches that monitor health metrics. In contrast, Remote Patient Monitoring is gaining significant traction as healthcare systems pivot toward more patient-centered approaches. The increased demand for at-home care solutions is propelling this segment to rapid growth, although its overall market share remains below that of wearable technology.

Technology: Wearable Technology (Dominant) vs. Remote Patient Monitoring (Emerging)

Wearable Technology stands out as the dominant force in the IoT in Healthcare market, owing to its ability to empower patients with real-time health data through devices that are both convenient and user-friendly. These technologies are complemented by significant advancements in sensor technology and data analytics that enhance patient engagement and health outcomes. On the other hand, Remote Patient Monitoring is emerging quickly, facilitating the continuous monitoring of patients’ health metrics outside traditional clinical settings. This segment is primarily driven by the increasing need for chronic disease management and the growing acceptance of telehealth solutions, leading to enhanced patient care and reduced hospital visits.

Get more detailed insights about Internet of Things (IoT) in Healthcare Market Research Report-Forecast to 2035

Regional Insights

North America : Innovation and Investment Hub

North America is the largest market for IoT in healthcare, holding approximately 45% of the global share. The region's growth is driven by increasing investments in healthcare technology, a rising demand for remote patient monitoring, and supportive regulatory frameworks. The U.S. government has been proactive in promoting digital health initiatives, which further catalyzes market expansion. The competitive landscape is dominated by key players such as GE Healthcare, Medtronic, and IBM, which are leveraging advanced technologies to enhance patient care. The U.S. is the leading country, followed by Canada, which is also witnessing significant growth in IoT healthcare solutions. The presence of major tech firms and healthcare providers fosters a robust ecosystem for innovation.

Europe : Regulatory Framework and Growth

Europe is the second-largest market for IoT in healthcare, accounting for around 30% of the global market share. The region's growth is propelled by stringent regulations aimed at improving patient safety and data security, alongside increasing adoption of telehealth services. The European Union's Digital Health Strategy is a key regulatory catalyst, promoting interoperability and innovation in healthcare technologies. Leading countries in this region include Germany, the UK, and France, where significant investments in digital health are being made. Major players like Siemens Healthineers and Philips are actively involved in developing IoT solutions tailored to the European market. The competitive landscape is characterized by a mix of established companies and innovative startups, driving advancements in healthcare delivery.

Asia-Pacific : Rapid Growth and Adoption

Asia-Pacific is witnessing rapid growth in the IoT healthcare market, holding approximately 20% of the global share. The region's expansion is driven by increasing healthcare expenditure, a growing aging population, and rising demand for smart healthcare solutions. Countries like China and India are at the forefront, supported by government initiatives aimed at enhancing healthcare infrastructure and technology adoption. China is the largest market in the region, followed by Japan and India, where local players are emerging alongside global giants like Samsung and Cisco. The competitive landscape is evolving, with a focus on innovative solutions that cater to the unique healthcare challenges faced by these countries. The region's diverse market dynamics present both opportunities and challenges for stakeholders.

Middle East and Africa : Emerging Market Potential

The Middle East and Africa (MEA) region is an emerging market for IoT in healthcare, accounting for about 5% of the global share. The growth is driven by increasing investments in healthcare infrastructure, rising awareness of digital health solutions, and government initiatives aimed at improving healthcare delivery. Countries like the UAE and South Africa are leading the way, with significant projects focused on smart healthcare technologies. The competitive landscape is characterized by a mix of local and international players, with companies like Honeywell and Oracle making strides in the region. The presence of various healthcare initiatives and partnerships is fostering innovation, making MEA a promising market for IoT healthcare solutions. The region's unique challenges also present opportunities for tailored solutions that address specific healthcare needs.

Key Players and Competitive Insights

The Internet of Things (IoT) in Healthcare Market is currently characterized by a dynamic competitive landscape, driven by rapid technological advancements and an increasing demand for connected healthcare solutions. Major players such as Philips (NL), GE Healthcare (US), and Medtronic (US) are strategically positioning themselves through innovation and partnerships, which collectively enhance their operational capabilities. Philips (NL) focuses on integrating advanced analytics and AI into its healthcare solutions, while GE Healthcare (US) emphasizes the development of interoperable systems that facilitate seamless data exchange. Medtronic (US) is leveraging its extensive portfolio to enhance remote patient monitoring, thereby addressing the growing need for telehealth solutions. These strategies not only bolster their market presence but also contribute to a more interconnected healthcare ecosystem.

In terms of business tactics, companies are increasingly localizing manufacturing and optimizing supply chains to enhance responsiveness to market demands. The competitive structure of the IoT in Healthcare Market appears moderately fragmented, with several key players exerting influence across various segments. This fragmentation allows for a diverse range of solutions, yet the collective impact of these major companies shapes the market dynamics significantly, as they vie for leadership through technological innovation and strategic collaborations.

In August 2025, Philips (NL) announced a partnership with a leading AI firm to enhance its imaging solutions, aiming to improve diagnostic accuracy and patient outcomes. This collaboration is strategically important as it aligns with the growing trend of integrating AI into healthcare, potentially setting a new standard for imaging technologies. By leveraging AI capabilities, Philips (NL) not only enhances its product offerings but also positions itself as a leader in the digital transformation of healthcare.

Similarly, in September 2025, GE Healthcare (US) launched a new cloud-based platform designed to streamline data management for healthcare providers. This initiative is significant as it addresses the critical need for efficient data handling in an increasingly digital healthcare environment. By providing a robust platform for data integration, GE Healthcare (US) enhances its competitive edge, enabling healthcare providers to make informed decisions based on real-time data analytics.

In October 2025, Medtronic (US) unveiled a new remote monitoring device that utilizes IoT technology to track patient health metrics in real-time. This development is crucial as it reflects the ongoing shift towards proactive healthcare management, allowing for timely interventions and improved patient care. Medtronic's focus on remote monitoring aligns with broader industry trends towards personalized medicine and patient-centric care, further solidifying its position in the market.

As of October 2025, the competitive trends within the IoT in Healthcare Market are increasingly defined by digitalization, sustainability, and the integration of artificial intelligence. Strategic alliances are becoming pivotal, as companies recognize the value of collaboration in enhancing technological capabilities and market reach. Looking ahead, competitive differentiation is likely to evolve from traditional price-based competition to a focus on innovation, technological advancement, and supply chain reliability. This shift underscores the importance of adaptability and forward-thinking strategies in navigating the complexities of the healthcare landscape.

Key Companies in the Internet of Things in Healthcare Market market include

Industry Developments

Recent developments in the Global Internet of Things in the Healthcare Market highlight a significant integration of technology and healthcare solutions. In October 2023, IBM announced enhancements in its Watson Health technologies, aiming to improve patient outcomes through data analytics. Similarly, Philips has been expanding its remote monitoring capabilities, facilitating better healthcare access and efficiency. Current affairs focus on the surge in connected devices post-COVID-19, with industry reports indicating an estimated market growth of over 30% year-over-year, mainly driven by healthcare providers' adoption of IoT solutions.

In the realm of mergers and acquisitions, in August 2023, Siemens Healthineers acquired Varian Medical Systems, bolstering its portfolio in digital health and precision oncology. In July 2023, Johnson and Johnson announced the acquisition of a digital health startup to enhance its surgical technologies. Additionally, Medtronic's partnership with Qualcomm, established in early 2023, aims to innovate through advanced health monitoring devices. Over the last two years, significant market activities have also included increased collaborations for Research and Development, enhancing patient care through real-time data and analytics, reflecting a robust trajectory in this global market space.

Future Outlook

Internet of Things in Healthcare Market Future Outlook

The Internet of Things (IoT) in Healthcare Market is projected to grow at 11.51% CAGR from 2024 to 2035, driven by advancements in telemedicine, wearable devices, and data analytics.

New opportunities lie in:

Development of AI-driven remote patient monitoring systems
Integration of IoT with electronic health records for real-time data access
Expansion of smart medical devices for chronic disease management

By 2035, the IoT in Healthcare Market is expected to be a pivotal component of global healthcare systems.

Market Segmentation

Internet of Things in Healthcare Market End-Use Outlook

Hospitals
Diagnostics Centers
Home Care

Internet of Things in Healthcare Market Component Outlook

Devices
Software
Services

Internet of Things in Healthcare Market Technology Outlook

Wearable Technology
Remote Patient Monitoring
Smart Medical Devices

Internet of Things in Healthcare Market Application Outlook

Patient Monitoring
Medication Management
Telemedicine
Clinical Operations
Asset Management

Report Scope

MARKET SIZE 2024	60.34(USD Billion)
MARKET SIZE 2025	67.29(USD Billion)
MARKET SIZE 2035	200.01(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	11.51% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Market analysis in progress
Segments Covered	Market segmentation analysis in progress
Key Market Opportunities	Integration of advanced analytics and artificial intelligence in Internet of Things (IoT) in Healthcare Market.
Key Market Dynamics	Rising integration of IoT devices enhances patient monitoring and streamlines healthcare delivery processes.
Countries Covered	North America, Europe, APAC, South America, MEA