Smart Medical Devices Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2027
Category: #business  By Rahul Sankrityayan  Date: 2022-03-31
  • share
  • Twitter
  • Facebook
  • LinkedIn
Smart Medical Devices Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2027

The global market size for smart medical devices is anticipated to witness significant gains over the years with escalating incidences of chronic diseases. These devices are digitally linked gadgets that aim to improve patient care by gathering patient data in real-time and interacting efficiently with doctors through other technologies. The gadgets can also analyze the patients’ health and allow medications to perform better accuracy while providing a personalized experience.

To access a sample copy or view the market report in detail along with the table of contents, please click the link below: https://www.decresearch.com/request-sample/detail/1969

This growth is chiefly ascribed to the multiple benefits which are being served through smart medical devices. Some of these benefits include obtaining real-time information, tracking prior health records, and recognizing prospective health risks.

That apart, these devices are easy to operate and so not require any professional training. This is increased the penetration of smart medical devices in personal and home care settings. In fact, the segment is projected to rise with a yearly growth of 11.4% during the projected years. Even the segment has registered the largest profit portion of the market, last year.

Glucometers, pulse oximeters, digital blood pressure monitors, insulin pumps, and more such devices can be count as smart medical devices for homecare settings. Through these devices, an individual can monitor glucose level, blood pressure, oxygen level at the home with utmost effectiveness and accuracy. 

Also, with the rising popularity of abovementioned devices, the diagnostic and monitoring category is predicted to develop substantially in the market, by surpassing USD 43.2 billion through 2027 with 11.3% of yearly growth rate. In addition, the increasing cases of chronic diseases such as diabetes and asthma would pump up the segment growth.

Considering the regional landscape, the Asia Pacific market is considered to have huge opportunities for smart medical devices. The industry is largely expanding in the region, and it is anticipated that it will grow by 15% CAGR in forthcoming years. This regional growth can be attributed to the favorable government policies and rising awareness towards the early diagnosis of chronic diseases.

In order to full fill the robust demand for smart medical devices, prominent industry players are emphasizing at different tactics, such as technology development, mergers, geographical expansion, and new product launches. These activities will also help businesses to strengthen their position in the market.

For instance, VitalConnect introduced its cardiac monitoring solution for VitalPatch RTM in November 2020, for patients who require regular Holter surveillance. A single ECG analytical solution based on AI can monitor 21 cardiac arrhythmias. This product would add value to the company’s existing portfolio and extend its client base.

Meanwhile, Google is working to develop smart contact lenses since 2014, which will help diabetes patients to measure glucose level through tears fluidal composition. Such technological advancement can be considered as the foundation stone for upcoming smart medical devices. 

Abbott, F. Hoffmann-La Roche Ltd, Omron Corporation, Medtronic, Fitbit, and Dexcom are some of the important players active in the industries.

In a nutshell, the snoring population, improved living standards, rising disposable income, as well as the high demand for novel and innovative products will spur smart devices market share.

More News:

Heparin Market - https://www.globenewswire.com/news-release/2022/03/02/2395008/0/en/Heparin-Market-Revenue-worth-5-7-Billion-by-2028-Says-Global-Market-Insights-Inc.html

About DEC Research:

DecResearch.com, powered by Global Market Insights Inc. is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI.

Contact Us:

DEC Research,

Phone:1-302-846-7766

Toll Free: 1-888-689-0688

Email: [email protected]

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

Read More >>

More News By Rahul Sankrityayan

Medical Fluid Bags Market Analysis & Forecast to 2027 by Key Players, Share, Trend, Segmentation
Medical Fluid Bags Market Analysis & Forecast to 2027 by Key Players, Share, Trend, Segmentation
By Rahul Sankrityayan

Dec research has recently published a study titled ‘global Medical Fluid Bags market research report’. In this report, analysts have provided a detailed evaluation of the global Medical Fluid Bags market. The report is inclusive of a comp...

Immunohematology Market Research Report Analysis and Forecasts to 2027
Immunohematology Market Research Report Analysis and Forecasts to 2027
By Rahul Sankrityayan

Global market insights declares the publication of its latest research report, with the title ‘global Immunohematology market’. This report sheds light on the analysis of the industry challenges, growth opportunities, industry threats, as...

Hearing Aids Market by Type, Application, Element - Global Trends and Forecast to 2027
Hearing Aids Market by Type, Application, Element - Global Trends and Forecast to 2027
By Rahul Sankrityayan

Dec research has recently published a study titled ‘global Hearing Aids market research report’. In this report, analysts have provided a detailed evaluation of the global Hearing Aids market. The report is inclusive of a completely compr...