Machine Learning (ML) and Internet of Things (IoT) are two of the highly discussed and extensively used research areas in the current world. In highly essential and sensitive arenas of healthcare, a perfect blend of these two components can pave way to striking innovations which would have the potential to cure numerous diseases and health-related issues. One of the main reasons for combining IoT and subsets of AI is because they are complementary to each other from a plethora of perspectives. IoT can be easily used to handle and deal with voluminous amounts of data flow and processing while the ML algorithms can be used to extract useful and necessary information, for training data models, and so on. Furthermore, this unique combination of two major technical concepts would improve and optimize the efficiency of operations in the medical field. It would significantly reduce the load and the efforts to be put in by the medical fraternity while they can indulge in exploring deeper into the dwellings of medical sciences in curing diseases. Moreover, IoT connects the different devices as per these needs and instantiates a smooth 180flow of interaction between the interconnected gadgets and devices. This paper mainly talks about the role of IoT and ML in healthcare and elucidates the necessities of wearable systems and communications standards.