The Internet of Things (IoT) base has grown to over 20 billion devices currently operational worldwide. As they greatly extend the applicability and use of biosensors, IoT developments are transformative. Recent studies show that IoT, coupled with advanced communication frameworks, such as machine-to-machine (M2M) interactions, can lead to (1) improved efficiency in data exchange, (2) accurate and timely health monitoring, and (3) enhanced user engagement and compliance through advancements in human–computer interaction. This systematic review of the 19 most relevant studies examines the potential of IoT in health and lifestyle management by conducting detailed analyses and quality assessments of each study. Findings indicate that IoT-based systems effectively monitor various health parameters using biosensors, facilitate real-time feedback, and support personalized health recommendations. Key limitations include small sample sizes, insufficient security measures, practical issues with wearable sensors, and reliance on internet connectivity in areas with poor network infrastructure. The reviewed studies demonstrated innovative applications of IoT, focusing on M2M interactions, edge devices, multimodality health monitoring, intelligent decision-making, and automated health management systems. These insights offer valuable recommendations for optimizing IoT technologies in health and wellness management.