Global IoT Enabled Healthcare Equipment Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Type;
Accelerometers, Gyroscopes, Magnetometer, Pressure Sensors, Temperature Sensors, and Light Sensors.By Vertical;
Industrial IOT, Consumer IOT, and Commercial IOT.By Network Technology;
Wired Network Technology and Wireless Network Technology.By Application;
Healthcare, Retail, Industrial, Automotive, Consumer Electronics, and Building Automation.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global IoT Enabled Healthcare Equipment Market (USD Million), 2021 - 2031
In the year 2024, the Global IoT Enabled Healthcare Equipment Market was valued at USD 41,731.78 million. The size of this market is expected to increase to USD 198,992.62 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 25.0%.
The global IoT-enabled healthcare equipment market has been experiencing remarkable growth and is poised for further expansion in the coming years. IoT (Internet of Things) technology has revolutionized the healthcare industry by enabling the connectivity and remote monitoring of medical devices and equipment. This connectivity allows healthcare providers to collect real-time data, track patient health metrics, and improve the efficiency of healthcare delivery. IoT-enabled healthcare equipment encompasses a wide range of devices, including wearable fitness trackers, smart insulin pumps, remote patient monitoring systems, and connected medical imaging equipment.
One of the key drivers fueling the growth of the IoT-enabled healthcare equipment market is the increasing demand for remote patient monitoring and telemedicine solutions. With the rising prevalence of chronic diseases and an aging population, there is a growing need for continuous monitoring of patients' vital signs and health parameters outside traditional healthcare settings. IoT-enabled devices facilitate remote monitoring, enabling healthcare providers to remotely monitor patients' health status and intervene promptly in case of emergencies or abnormalities. This capability not only improves patient outcomes but also reduces healthcare costs by preventing unnecessary hospitalizations and emergency room visits.
The integration of IoT technology in healthcare equipment enhances operational efficiency and workflow optimization in healthcare facilities. Connected medical devices can automatically transmit patient data to electronic health records (EHR) systems, eliminating the need for manual data entry and reducing the risk of errors. Additionally, IoT-enabled equipment enables predictive maintenance and remote diagnostics, allowing healthcare providers to identify equipment failures or malfunctions before they occur, thereby minimizing downtime and improving the reliability of medical equipment.
The adoption of IoT-enabled healthcare equipment is also driven by the increasing focus on personalized medicine and patient-centered care. These devices empower patients to take a more active role in managing their health by providing them with access to real-time health data and insights. Wearable devices, in particular, enable individuals to track their activity levels, monitor vital signs, and receive personalized health recommendations, promoting preventive healthcare and early intervention.
The growing emphasis on digital health initiatives and the proliferation of smart healthcare infrastructure worldwide are expected to further accelerate the adoption of IoT-enabled healthcare equipment. Governments and healthcare organizations are increasingly investing in IoT solutions to enhance healthcare delivery, improve patient outcomes, and address healthcare disparities. As IoT technology continues to advance and become more ubiquitous, the IoT-enabled healthcare equipment market is projected to witness sustained growth and innovation, driving the transformation of the global healthcare industry.
Global IoT Enabled Healthcare Equipment Market Recent Developments
-
In September 2023, Infosys announced the expansion of its strategic collaboration with NVIDIA Corporation. This collaboration aimed to generate technology and expertise needed to drive productivity with generative AI applications and solutions across various industries, including healthcare.
-
In February 2023, Wipro ltd partnered with Koninklijke Philips N.V. to offer Electronic Medical Record (EMR) enterprise solutions for the healthcare industry in Saudi Arabia. The integrated solution, which is in line with Saudi Arabia's Health Sector Transformation Programme- Vision 2030, will put a special emphasis on localized practice, adjustable workflows, data, and service linkages.
Segment Analysis
The market for sensors used in the Internet of Things (IoT) is diverse, encompassing a wide range of sensor types such as accelerometers, gyroscopes, magnetometers, pressure sensors, temperature sensors, and light sensors. These sensors are essential for collecting real-time data from physical environments, enabling devices to respond intelligently to their surroundings. Accelerometers and gyroscopes, for example, are commonly used in applications such as motion detection, navigation, and orientation tracking, while magnetometers help in compass navigation and geolocation tasks. Pressure sensors monitor physical forces, and temperature sensors provide crucial data for climate control systems, while light sensors are used to adjust brightness in smart lighting systems. The demand for these sensors is growing as industries increasingly adopt IoT technologies to enhance automation, monitoring, and data analysis capabilities.
Sensors are deployed across various verticals such as Industrial IoT, Consumer IoT, and Commercial IoT, each addressing distinct needs. In Industrial IoT, sensors monitor and optimize machinery, improve energy efficiency, and enhance safety in manufacturing environments. Consumer IoT focuses on personal devices and smart home systems, offering applications in wearables, smart appliances, and connected vehicles. Commercial IoT, on the other hand, is used in retail, logistics, and building management systems to improve operations, customer experience, and energy efficiency. Network technology plays a crucial role in these IoT ecosystems, with both wired and wireless network technologies being utilized depending on the specific application needs. For instance, wireless networks offer greater flexibility and scalability, making them ideal for applications in healthcare, automotive, consumer electronics, and building automation, where real-time monitoring and seamless connectivity are essential.
Global IoT Enabled Healthcare Equipment Segment Analysis
In this report, the Global IoT Enabled Healthcare Equipment Market has been segmented by Type, Vertical, Network Technology, Application, and Geography.
Global IoT Enabled Healthcare Equipment Market, Segmentation by Type
In this report, the Global IoT Enabled Healthcare Equipment Market has been segmented by Type into Accelerometers, Gyroscopes, Magnetometer, Pressure sensors, Temperature sensors, and Light sensors.
Accelerometers are sensors that measure acceleration and movement, commonly used in wearable fitness trackers and remote patient monitoring devices to track physical activity, detect falls, and monitor sleep patterns. Gyroscopes measure orientation and rotation, providing data on a patient's position and movement, which is essential for monitoring mobility and balance, particularly in elderly or mobility-impaired individuals. Magnetometers are sensors that detect magnetic fields and are utilized in medical devices such as magnetic resonance imaging (MRI) machines for imaging and diagnostics. Pressure sensors measure force or pressure and find applications in wearable devices for monitoring blood pressure, respiratory rate, and intracranial pressure. Temperature sensors are crucial for monitoring body temperature, environmental temperature, and changes in temperature, enabling the early detection of fever or hypothermia and ensuring patient comfort and safety.
Light sensors, also known as photodetectors, detect light intensity and are used in wearable devices for monitoring exposure to sunlight or artificial light, as well as in phototherapy equipment for treating conditions such as jaundice in newborns. These diverse types of sensors play integral roles in IoT-enabled healthcare equipment, enabling the collection of real-time data on various physiological parameters and environmental factors, enhancing remote monitoring, diagnosis, and treatment in healthcare settings. As the demand for connected healthcare solutions continues to grow, fueled by the need for remote patient monitoring and personalized healthcare, the market for IoT-enabled healthcare equipment is expected to witness significant expansion across all segments, driving innovation and advancements in healthcare technology.
Global IoT Enabled Healthcare Equipment Market, Segmentation by Vertical
In this report, the Global IoT Enabled Healthcare Equipment Market has been segmented by Vertical into Industrial IOT, Consumer IOT, and Commercial IOT.
Within Industrial IoT (IIoT), healthcare facilities and providers utilize connected devices and sensors to optimize operational efficiency, streamline workflows, and improve patient care. IIoT solutions in healthcare include asset tracking systems for medical equipment, remote monitoring of infrastructure and facilities, and predictive maintenance of critical healthcare equipment. These applications help healthcare organizations minimize downtime, reduce costs, and enhance patient satisfaction by ensuring the availability and reliability of medical devices and services. Consumer IoT (CIoT) encompasses wearable devices, home healthcare monitoring systems, and personal health management tools designed for individual consumers. These devices enable individuals to monitor their health and wellness in real-time, track fitness metrics, manage chronic conditions, and receive personalized health recommendations. CIoT solutions empower individuals to take a proactive approach to their health and well-being, promoting preventive care and early intervention, while also providing healthcare providers with valuable insights into patients' health status and behavior.
Commercial IoT (CoIoT) includes IoT-enabled healthcare solutions deployed in commercial settings such as hospitals, clinics, long-term care facilities, and telemedicine centers. CoIoT solutions encompass a wide range of applications, including remote patient monitoring systems, telehealth platforms, digital signage and patient engagement solutions, and smart medical devices. These solutions improve access to healthcare services, enable remote consultations and medical diagnostics, and enhance the overall patient experience. CoIoT solutions also support healthcare providers in managing patient populations, optimizing resource utilization, and delivering high-quality care efficiently and cost-effectively.
Global IoT Enabled Healthcare Equipment Market, Segmentation by Network Technology
In this report, the Global IoT Enabled Healthcare Equipment Market has been segmented by Network Technology into Wired Network Technology, and Wireless Network Technology.
Wired network technology involves the use of physical cables and connections to transmit data between IoT devices and infrastructure components. In healthcare settings, wired network technology includes Ethernet, fiber optic cables, and other wired communication protocols used to connect medical devices, sensors, and monitoring equipment to central servers, data storage systems, and healthcare IT networks. Wired network technology offers advantages such as high bandwidth, low latency, and reliable connectivity, making it suitable for applications that require secure and stable data transmission, such as medical imaging, patient monitoring, and electronic health records (EHR) systems.
Wireless network technology utilizes wireless communication protocols to enable connectivity between IoT devices, sensors, and network infrastructure without the need for physical cables. Wireless network technology in healthcare includes Wi-Fi, Bluetooth, Zigbee, cellular networks, and other wireless protocols used to connect wearable devices, mobile health applications, and remote monitoring systems to healthcare networks and cloud-based platforms. Wireless network technology offers flexibility, mobility, and scalability, allowing healthcare providers to deploy IoT-enabled solutions in diverse clinical environments and remote patient care settings. Wireless connectivity enables real-time data collection, remote monitoring, and seamless integration with electronic health records, enabling healthcare organizations to improve patient outcomes, enhance operational efficiency, and deliver personalized care.
Global IoT Enabled Healthcare Equipment Market, Segmentation by Application
In this report, the Global IoT Enabled Healthcare Equipment Market has been segmented by Application into Healthcare, Retail, Industrial, Automotive, Consumer Electronics, and Building Automation.
In the healthcare sector, IoT-enabled equipment plays a crucial role in remote patient monitoring, telemedicine, and health data management. These applications include wearable devices for tracking vital signs, smart medical devices for home healthcare monitoring, and telehealth platforms for virtual consultations. IoT technology enables healthcare providers to monitor patients remotely, collect real-time health data, and deliver personalized care, improving patient outcomes and reducing healthcare costs.
IoT-enabled healthcare equipment finds applications in retail environments, where it is used for inventory management, supply chain optimization, and customer engagement. Retailers leverage IoT technology to track inventory levels, monitor product availability, and enhance the shopping experience through personalized recommendations and interactive displays. IoT-enabled healthcare equipment also supports contactless payment systems and customer safety measures, promoting a seamless and secure retail experience.
IoT technology is increasingly integrated into industrial settings for asset tracking, predictive maintenance, and process optimization. In the automotive industry, IoT-enabled equipment enables vehicle tracking, remote diagnostics, and driver monitoring, enhancing vehicle performance, safety, and efficiency. Consumer electronics, such as smart home devices and wearable technology, leverage IoT connectivity to offer features such as home automation, personal assistance, and health tracking.
Global IoT Enabled Healthcare Equipment Market, Segmentation by Geography
In this report, the Global IoT Enabled Healthcare Equipment Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global IoT Enabled Healthcare Equipment Market Share (%), by Geographical Region, 2024
The dominance of North America in the IoT medical devices industry during the forecast period is underpinned by several key factors. Firstly, the widespread adoption of smartphones, tablets, and other mobile platforms in the region facilitates seamless connectivity and data exchange between IoT medical devices and healthcare systems. This robust digital infrastructure enables real-time monitoring, remote patient management, and data-driven healthcare delivery, driving the demand for IoT-enabled medical devices.
The increasing prevalence of chronic diseases in North America has led to a growing demand for connected devices that enable continuous monitoring and management of health conditions. IoT medical devices such as wearable fitness trackers, remote patient monitoring systems, and smart insulin pumps empower individuals to take control of their health and well-being, contributing to improved patient outcomes and quality of life.
The presence of major companies and innovative startups in the North American region further strengthens its position in the IoT medical devices market. These companies drive technological advancements, invest in research and development, and collaborate with healthcare providers to develop cutting-edge IoT solutions tailored to the needs of patients and healthcare professionals. Overall, North America's leadership in the IoT medical devices industry is expected to persist, driven by its robust digital infrastructure, increasing healthcare digitization initiatives, and strong industry ecosystem.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global IoT Enabled Healthcare Equipment Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities
Drivers:
- Rising Demand for Remote Patient Monitoring
- Advancements in IoT Technology
-
Growing Focus on Preventive Healthcare: In the realm of healthcare, preventive measures have increasingly garnered attention as proactive strategies to alleviate burdens on healthcare systems and enhance overall population health. Within this landscape, IoT-enabled healthcare equipment emerges as a pivotal player, offering innovative solutions to address various facets of preventive healthcare.
One significant contribution of IoT-enabled healthcare equipment lies in its capacity for early detection of health issues. By continuously monitoring vital signs and health metrics in real-time, these devices can detect subtle deviations from baseline parameters, alerting both patients and healthcare providers to potential health risks before they escalate into more serious conditions. This early detection enables timely interventions, which can significantly improve patient outcomes and reduce the need for costly and invasive treatments down the line.
IoT-enabled healthcare equipment fosters the promotion of healthy behaviors among individuals. Through features such as activity tracking, dietary monitoring, and personalized feedback mechanisms, these devices empower users to take proactive steps towards maintaining and improving their health. By providing real-time insights and actionable recommendations, IoT-enabled devices encourage adherence to healthy lifestyles, ultimately mitigating the risk of chronic diseases and promoting overall wellness. Additionally, by facilitating personalized interventions tailored to individual health profiles and preferences, these technologies enhance the effectiveness of preventive healthcare strategies, ensuring that interventions are not only timely but also tailored to address the unique needs of each individual.
Restraints:
- Data Security and Privacy Concerns
- Integration Challenges
-
Cost and Reimbursement Issues: The adoption of IoT-enabled healthcare equipment faces notable hurdles due to the considerable initial investment and ongoing maintenance costs involved. Particularly for smaller healthcare providers and resource-constrained settings, allocating financial resources for the procurement and upkeep of these technologies can pose significant challenges. The upfront costs associated with purchasing IoT devices, implementing necessary infrastructure, and training staff members on their use can strain already limited budgets. Moreover, ongoing expenses related to software updates, maintenance, and technical support further compound the financial burden, potentially deterring smaller healthcare facilities from investing in these advanced solutions.
Compounding these financial concerns are uncertainties surrounding reimbursement models for remote monitoring and telehealth services. While IoT-enabled healthcare equipment holds promise for improving patient outcomes and reducing healthcare costs in the long run, the current reimbursement landscape may not adequately incentivize healthcare organizations to adopt these technologies. Reimbursement policies and rates for remote monitoring and telehealth services vary across regions and payers, leading to uncertainty regarding the financial viability of implementing IoT-enabled solutions. Without clear and consistent reimbursement mechanisms in place, healthcare providers may hesitate to invest in these technologies, fearing inadequate return on investment and potential financial losses. Addressing these reimbursement challenges and ensuring that healthcare providers are fairly compensated for the use of IoT-enabled healthcare equipment is crucial for accelerating adoption and maximizing the benefits of these innovative solutions.
Opportunities:
- Expansion of Telehealth Services
- Personalized Medicine and Healthcare
-
Collaboration and Partnerships: Collaboration across various stakeholders, including technology companies, healthcare providers, research institutions, and regulatory bodies, is indispensable for driving innovation and overcoming the challenges associated with IoT-enabled healthcare equipment. By pooling together diverse expertise and resources, these collaborative efforts can catalyze the development of groundbreaking solutions that effectively address the complex needs of modern healthcare.
Strategic partnerships play a pivotal role in fostering innovation and accelerating the adoption of IoT-enabled healthcare equipment. Through collaborative initiatives, technology companies can leverage their expertise in hardware, software, and connectivity solutions to develop robust and user-friendly healthcare technologies. By collaborating closely with healthcare providers, these companies can gain valuable insights into the clinical workflows, patient needs, and regulatory requirements that shape the healthcare landscape. Such partnerships enable the co-creation of integrated solutions that seamlessly integrate into existing healthcare systems, streamline workflows, and enhance the delivery of patient care.
Collaboration with research institutions allows for the validation of IoT-enabled healthcare technologies through rigorous scientific evaluation and clinical trials. Research partnerships facilitate the collection of empirical data on the efficacy, safety, and cost-effectiveness of these technologies, providing valuable evidence to support their adoption and integration into clinical practice. Moreover, collaboration with regulatory bodies ensures compliance with regulatory standards and requirements, fostering trust and confidence in IoT-enabled healthcare solutions among healthcare providers and patients alike. By working together to establish industry standards and best practices, stakeholders can create a conducive environment for innovation, interoperability, and widespread adoption of IoT-enabled healthcare equipment, ultimately driving positive transformation within the healthcare ecosystem.
Competitive Landscape Analysis
Key players in Global IoT Enabled Healthcare Equipment Market include
- Stmicroelectronics N.V
- Texas Instruments Incorporated
- Texas Instruments Incorporated
- Te Connectivity Ltd
- Broadcom Limited
- NXP Semiconductors N.V
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Vertical
- Market Snapshot, By Network Technology
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global IoT Enabled Healthcare Equipment Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Rising Demand for Remote Patient Monitoring
- Advancements in IoT Technology
- Growing Focus on Preventive Healthcare
- Restraints
- Data Security and Privacy Concerns
- Integration Challenges
- Cost and Reimbursement Issues
- Opportunities
- Expansion of Telehealth Services
- Personalized Medicine and Healthcare
- Collaboration and Partnerships
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global IoT Enabled Healthcare Equipment Market, By Type, 2021 - 2031 (USD Million)
- Accelerometers
- Gyroscopes
- Magnetometer
- Pressure sensors
- Temperature sensors
- Light sensors
- Global IoT Enabled Healthcare Equipment Market, By Vertical, 2021 - 2031 (USD Million)
- Industrial IOT
- Consumer IOT
- Commercial IOT
- Global IoT Enabled Healthcare Equipment Market, By Network Technology, 2021 - 2031 (USD Million)
- Wired Network Technology
- Wireless Network Technology
- Global IoT Enabled Healthcare Equipment Market, By Application, 2021 - 2031 (USD Million)
- Healthcare
- Retail
- Industrial
- Automotive
- Consumer Electronics
- Building Automation
- Global IoT Enabled Healthcare Equipment Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global IoT Enabled Healthcare Equipment Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Stmicroelectronics N.V
- Texas Instruments Incorporated
- Texas Instruments Incorporated
- Te Connectivity Ltd
- Broadcom Limited
- NXP Semiconductors N.V
- Company Profiles
- Analyst Views
- Future Outlook of the Market