Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Smart Medical Devices - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Smart Medical Devices was estimated at US$33.7 Billion in 2023 and is projected to reach US$67.4 Billion by 2030, growing at a CAGR of 10.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the Smart Medical Devices market is driven by several factors, including increasing adoption of digital health solutions, which emphasize remote patient monitoring and chronic disease management. Advancements in sensor technology, wireless connectivity, and AI-based data analytics have enhanced the accuracy and functionality of smart medical devices, supporting wider use in preventive and personalized medicine.
The growing prevalence of chronic diseases like diabetes, hypertension, and respiratory disorders has further fueled demand for smart medical devices that enable continuous monitoring and timely intervention. Additionally, government initiatives promoting telemedicine and digital healthcare have contributed to market expansion, as healthcare providers and patients seek innovative solutions for efficient and effective care delivery.
From wearable fitness trackers and glucometers to implantable devices and smart inhalers, smart medical devices support personalized medicine, telemedicine, and proactive health management. As healthcare systems shift toward digital transformation, smart medical devices have become essential for improving patient outcomes, reducing hospital visits, and enhancing overall care quality.
What Are the Key Segments in the Smart Medical Devices Market?
Key device types include diagnostic devices, monitoring devices, and therapeutic devices, with monitoring devices holding the largest market share due to their role in chronic disease management and telehealth. Applications span diabetes care, respiratory monitoring, cardiovascular monitoring, and fitness tracking, with diabetes care representing a significant segment driven by the need for continuous glucose monitoring (CGM) and insulin management. End-users include hospitals, clinics, and home care, with home care leading the market as patients adopt self-monitoring and remote management tools.
How Are Smart Medical Devices Integrated Across Healthcare?
In hospitals, smart medical devices like infusion pumps, ECG monitors, and ventilators provide real-time patient data, enabling timely interventions and improved care. In home care, devices like smart glucometers, pulse oximeters, and blood pressure monitors support patients in managing chronic conditions while sharing data with healthcare providers through connected apps. Wearable devices like smartwatches and fitness trackers offer users insights into physical activity, heart rate, and sleep patterns, promoting overall wellness. Additionally, telemedicine platforms use data from smart medical devices to facilitate remote consultations, diagnostics, and treatment adjustments, supporting continuity of care.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Smart Medical Devices Market such as Abbott Laboratories, Apple Inc., Dexcom, Inc., Everist Genomics, F.Hoffmann-La Roche Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Diagnostics & Monitoring Devices segment, which is expected to reach US$44.6 Billion by 2030 with a CAGR of a 10.1%. The Therapeutic Devices segment is also set to grow at 11.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $9.3 Billion in 2023, and China, forecasted to grow at an impressive 9.6% CAGR to reach $10.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $33.7 Billion |
| Forecasted Market Value (USD) by 2030 | $67.4 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Smart Medical Devices - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Focus on Digital Healthcare Spurs Growth in Smart Medical Devices
- Technological Advancements in AI, IoT, and Cloud-Based Monitoring Strengthen Business Case for Smart Devices
- Increasing Adoption in Remote Patient Monitoring, Chronic Disease Management, and Elderly Care Expands Market
- Expansion of Smart Devices in Cardiovascular, Respiratory, and Neurological Monitoring Fuels Growth
- Growing Demand for Real-Time Health Insights, Alerts, and Predictive Analytics Drives Adoption
- Integration with Telehealth Platforms, Wearable Sensors, and Digital Health Apps Expands Addressable Market
- Rising Focus on Personalized, Data-Driven, and Continuous Monitoring Generates New Demand
- Technological Innovations in Miniaturization, Biocompatibility, and Battery Life Propel Market Growth
- Growing Use of Smart Medical Devices in Home Healthcare, Post-Surgical Recovery, and Rehab Expands Market
- Focus on Achieving Compliance with HIPAA, GDPR, and Medical Device Directives Strengthens Adoption
- Rising Demand for AI-Driven Diagnostics, Self-Tracking, and Digital Therapeutics Generates Market Opportunities
- Technological Advancements in Wearable, Implantable, and Connected Medical Devices Propel Market Expansion
- Growing Demand for Safe, Accurate, and Non-Invasive Health Monitoring Drives Adoption
FOCUS ON SELECT PLAYERS:Some of the 33 companies featured in this Global Smart Medical Devices market report include
- Abbott Laboratories
- Apple Inc.
- Dexcom, Inc.
- Everist Genomics
- F.Hoffmann-La Roche Ltd.
- Fitbit, Inc.
- Johnson & Johnson
- Medtronic plc.
- NeuroMetrix, Inc.
- Omron Corporation
- Philips Electronics
- Samsung Electronics Co., Ltd
- Sonova
- Sotera Wireless
- Vital Connect
- Zephyr Technology Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9hrw9p
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