Internet of Medical Things (IoMT) Market to Exhibit 28.9% CAGR by 2026, Market to Witness Significant Rise on Account of Improved Drug Management Benefits, Says Fortune Business Insights

Key Companies Covered in the IoMT Market Research Report are Biotronik, GENERAL ELECTRIC COMPANY (GE Healthcare), Boston Scientific Corporation, Medtronic, Johnson & Johnson Services, Inc., Cisco Systems, Inc., Welch Allyn, IBM Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V.

PUNE, India, Feb. 19, 2020 /PRNewswire/ -- The global IoMT Market size is anticipated to reach USD 142.45 billion by 2026, with a CAGR of 28.9%, on account of the increasing prevalence of chronic diseases. This, coupled with the improving healthcare infrastructure and facilities worldwide, is primarily contributing to the growth of the market. Internet of medical things consists of a system of interrelated devices that are either connected to each other or with an external network. These devices are capable of sharing information amongst themselves with the help of internet connectivity. The advent of technological advancement in medical devices, coupled with the rise in disposable incomes of people, is anticipated to help increase the popularity of smart medical devices, ultimately boosting the Internet of Medical Things market growth.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/internet-of-medical-things-iomt-market-101844

According to a recent study by Fortune Business Insights titled, "Internet of Medical Things Market Size, Share & Industry Analysis, By Product Type (Stationary Medical Devices, Implanted Medical Devices, Wearable External Medical Devices), By Application (Telemedicine, Medication Management, Patient Monitoring, Others), By End User (Healthcare Providers, Patients, Government Authorities, Others) and Regional Forecast, 2019-2026," the market value stood at USD 18.75 billion in 2018. The report highlights the major growth drivers, restraints, opportunities, key industry insights, and the overall competitive landscape. It also discusses the market segmentation in detail and list of key players with the major strategies adopted by them to gain a competitive edge in the market. Besides this, the report highlights some of the major internet of medical things (IoMT) trends and challenges, helping our readers to gain more insights.