The recent advancements of Internet of Things (IoT) embedded systems, wireless networks, and biosensors those have assisted in the rapid development of implanting wearable sensors are reviewed here. The applications of the internet of medical things (IoMT) that has gained major attention as an ecosystem of connected clinical systems, computing systems, and medical sensors geared towards improving the quality of healthcare services are also reviewed here. The 5G based AI technology can revolute the perception of healthcare and lifestyle. In light of the importance of IoT platforms and 5G networks, the purpose of this proposed research work is to identify threats that could undermine the integrity, privacy, and security of IoMT systems. Also, the novel blockchain‐based approaches that can help in improving the confidentiality of IoMT network. It has been discovered that IoMT is vulnerable to various types of attacks, including denial of service (DoS), malware, and eavesdropping attack. In addition, IoMT is exposed to various vulnerabilities, such as security, privacy, and confidentiality. Despite multiple security threats, there are novel cryptographic techniques, such as access control, identity authentication, and data encryption that can help in improving the security and reliability of IoMT devices.