IoT in Healthcare Market Projected to Hit $483.72 Billion by 2031

The global IoT in healthcare market is poised for significant expansion, with projections reaching USD 483.72 billion by 2031. According to a report by Mordor Intelligence, the sector is expected to maintain a robust compound annual growth rate (CAGR) of 18.32%. This growth is primarily fueled by the rapid digitalization of healthcare systems and the increasing adoption of connected medical devices. The home-care segment is emerging as a key driver, as more patients and providers shift toward remote monitoring solutions and smart medical technologies. Major industry players and medical device manufacturers are likely to benefit from this long-term trend in connected care. Investors are closely watching instruments like XLV and XLK, along with individual stocks such as Medtronic (MDT) and Abbott (ABT), as the market scales.