IoT Medical Devices Companies

The global IoT medical devices market is projected to reach USD 154.74 billion by 2030, growing from USD 65.08 billion in 2025, with a CAGR of 18.9% during this period. This growth is primarily driven by government initiatives aimed at advancing digital health and an increasing focus on patient safety. The rising number of connected devices for real-time monitoring, coupled with supportive policies for digital health infrastructure, is fueling this expansion. Additionally, the emphasis on enhancing safety is driving demand for more reliable and secure medical devices.

Two key strategies are driving growth in the IoT medical devices market: product innovation and strategic partnerships. In terms of product innovation, companies are enhancing remote patient monitoring technologies to improve care delivery. For instance, in May 2024, Philips introduced its ePatch wearable device and the Cardiologs AI platform in 14 hospitals across Spain. This innovation provides extended cardiac monitoring, enabling early detection of arrhythmias and reducing the need for prolonged hospitalization. In terms of strategic partnerships, organizations are collaborating to integrate IoT into clinical practice. In September 2024, FluidAI Medical and Medtronic Canada launched the Postoperative Patient Management Platform (PPMP). This platform supports the early detection of complications through AI-driven remote monitoring. These strategies highlight the industry's focus on creating connected and intelligent healthcare solutions.

To know about the assumptions considered for the study download the pdf brochure

Medtronic (Ireland) is a global leader in medical technology, known for its innovative IoT-enabled devices that support chronic disease management and enhance patient outcomes. The facilities in Ireland focus extensively on manufacturing and research & development of advanced connected health products, including intelligent insulin pumps, cardiac monitoring systems, and neurostimulation devices. By integrating IoT technologies, Medtronic facilitates real-time health monitoring, remote diagnostics, and predictive analytics, all of which contribute to improved efficiency in healthcare services. The company places a strong emphasis on data security, compliance with regulatory standards, and maintaining interoperability to deliver reliable, patient-centered solutions. Through ongoing investments and strategic collaborations in digital health, Medtronic Ireland continues to drive innovation by embedding smart technologies into clinical practice. In February 2025, the company reported financial results highlighting the importance of its Galway site in producing the latest connected cardiac devices.

GE Healthcare (US) is a prominent player in the global medical technology sector, known for integrating IoT and AI capabilities into its imaging, monitoring, and diagnostic devices. This integration aims to enhance patient outcomes and improve healthcare operations. The company's digital transformation strategy focuses on connected health solutions that enable real-time data collection and predictive analytics across hospital systems. GE HealthCare specializes in advanced imaging technologies, cloud-based health data platforms, and AI-driven diagnostic applications, particularly in fields like radiology, cardiology, and critical care. To expand its digital presence, GE HealthCare actively pursues acquisitions and partnerships, such as its acquisition of BK Medical to enhance surgical imaging and its collaboration with Microsoft Azure for cloud services. The company employs a horizontal integration strategy to broaden its product offerings, meeting a diverse range of clinical needs while making significant investments in research, development, and manufacturing worldwide. In March 2025, GE HealthCare announced a partnership with NVIDIA to develop autonomous X-ray and ultrasound devices utilizing NVIDIA's Isaac for Healthcare platform. These initiatives underline GE HealthCare's commitment to driving innovation and improving clinical outcomes in the landscape of IoT-enabled medical devices.

MARKET RANKING

The global IoT medical devices market is characterized by a high level of competition, with a few leading players holding technological and distribution advantages. In 2024, the top 10 companies collectively accounted for less than 50% of the total market, highlighting a fragmented and dynamic competitive landscape. Leading players are primarily headquartered in developed markets such as North America and Europe, where they benefit from established brand recognition, extensive R&D resources, and strong marketing and distribution networks. Medtronic (Ireland) develops connected chronic disease management solutions like smart insulin pumps and cardiac devices, emphasizing real-time monitoring and predictive analytics. Notably, Medtronic partnered with Abbott to combine Abbott's continuous glucose monitoring with Medtronic's insulin delivery systems, submitting FDA applications in early 2025 for interoperable diabetes care. GE Healthcare (US) advances AI-powered imaging and diagnostics with cloud integration for comprehensive hospital data insights. Koninklijke Philips N.V. (Netherlands) offers IoT devices supporting remote monitoring, telehealth, and advanced analytics. Abbott (US) specializes in connected cardiovascular and diabetes devices for continuous remote care, while Boston Scientific (US) focuses on implantable devices enabling real-time monitoring and personalized treatments. Together, they drive innovation, interoperability, and integrated healthcare solutions that enhance clinical outcomes and operational efficiency.

The market also includes a wide range of small and medium-sized enterprises (SMEs) operating across both developed and emerging regions. These players contribute to the market's fragmentation by offering cost-effective, niche, or customizable IoT-enabled solutions tailored for specific clinical or home-care applications.

Related Reports:

IoT Medical Devices Market by Product (Wearable (Vital Sign (BP, Glucose, ECG, Oximeter), Resp., Fetal), Implant (Neuro, Cardiac-Defib, Pacemaker) Pumps), Connectivity (Bluetooth, WiFi), End User (Hospital, Nursing Home) & Region - Global Forecast to 2030

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com