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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Smart Medical Devices Market: By Product, By Type, By End User, and Geography
Smart Medical Devices Market: By Product, By Type, By End User, and Geography
Smart Medical Devices Market size was valued at US$ 42.8 million in 2023 and is projected to reach US$ 66.9 million by 2030, growing at a CAGR of 6.6% from 2024-2030. Smart medical devices are being utilized as vital devices by doctors to distinguish different sicknesses by checking crucial signs. Chronic illnesses, for example, hypertension and diabetes have in this way got a new point of view from both the therapeutic business and the patients. From a more extensive point of view, these gadgets have radically diminished the workload for social insurance suppliers by nearly checking persistent well-being and making brisk moves if there should arise an occurrence of any real change in the readings. The business players are engaged with different systems, for example, mergers and acquisitions and new item dispatch.
For Instance, Medtronic gained Covidien Plc in January 2015. Through this securing, the organization is relied upon to bring down generation costs and extend its item portfolio to expand market penetration. Similarly, in April 2018, Teradata presented the initial 4D examination that can be utilized as a part of wearable and individual restorative gadgets to interpret the three-dimensional geospatial area information with time as the fourth measurement.
Study Period
2024-2030Base Year
2023CAGR
6.6%Largest Market
North-AmericaFastest Growing Market
North-America
One of the key factors adding to the development of the overall smart medical devices market is the mounting elderly populace, who are inclined to an expansive scope of illnesses, expanding their dependence on brilliant restorative gadgets for efficient malady administration. Moreover, the ascent in acknowledgment of cell phones around the world, expanding use of remote and cell phone for medicinal gadgets, developing focus on wellness and wellbeing, and rising charge for home social insurance is anticipated to drive market development. In addition, the mounting innovative progressions are additionally foreseen to goad the development of the smart medical devices market. Restrictive costs relating to the innovative progressions combined with constrained repayment strategies can obstruct the smart medicinal devices market development over the estimate time frame.
Geographically, global smart medical devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America displays a phenomenal development rate in the coming years. The selection of innovation in the locale and its worthiness among the general populace is evaluated to profit the local market. The progressing upgradation of medicinal and social insurance benefits in the market have additionally assumed a critical part in quick offers of smart medical devices the whole way across North America. Europe is relied upon to pick up piece of the pie over the time frame. As indicated by the Reflection and Orientation Paper, European Union contributed USD 43.5 million out of 2019, for development and communitarian ventures for wearable restorative devices.
Furthermore, Asia Pacific is relied upon to witness a noteworthy development in the market, inferable from an enormous pool of patients and inventive makers conveying keen answers for the market at imperceptibly bring down expenses. For example, Ten3T Healthcare Pvt Ltd, an Indian maker created Cicer, a wearable checking gadget that is fit for estimating ECG and different markers, for example, heart rate, blood oxygen, and temperature continuously at reasonable cost.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 42.8 million |
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Market Size in 2030 |
US$ 66.9 million |
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Market CAGR |
6.6% |
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By Product |
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By Type |
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By End User |
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The smart medical devices market size was valued at US$ 42.8 million in 2023 and is projected to reach US$ 66.9 million by 2030, growing at a CAGR of 6.6% from 2024-2030.
Philips, Fitbit, Monica Healthcare, Garmin, LifeWatch, Omron
North America is the fastest-growing region in the smart medical devices market
| 1.Executive Summary |
| 2.Global Smart Medical Devices Market Introduction |
| 2.1.Global Smart Medical Devices Market - Taxonomy |
| 2.2.Global Smart Medical Devices Market - Definitions |
| 2.2.1.Product |
| 2.2.2.Type |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Smart Medical Devices Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Smart Medical Devices Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Smart Medical Devices Market By Product, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Diagnostic Devices |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Monitoring Devices |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Therapeutic Devices |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Rehabilitation Devices |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Smart Medical Devices Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Portable |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Wearable |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Smart Medical Devices Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Hospitals |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Diagnostic Centers |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Ambulatory Surgical Centers |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Homecare |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8.Global Smart Medical Devices Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Smart Medical Devices Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Diagnostic Devices |
| 9.1.2.Monitoring Devices |
| 9.1.3.Therapeutic Devices |
| 9.1.4.Rehabilitation Devices |
| 9.1.5.Others |
| 9.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Portable |
| 9.2.2.Wearable |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Hospitals |
| 9.3.2.Diagnostic Centers |
| 9.3.3.Ambulatory Surgical Centers |
| 9.3.4.Homecare |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Smart Medical Devices Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Diagnostic Devices |
| 10.1.2.Monitoring Devices |
| 10.1.3.Therapeutic Devices |
| 10.1.4.Rehabilitation Devices |
| 10.1.5.Others |
| 10.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Portable |
| 10.2.2.Wearable |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Hospitals |
| 10.3.2.Diagnostic Centers |
| 10.3.3.Ambulatory Surgical Centers |
| 10.3.4.Homecare |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11.Asia Pacific (APAC) Smart Medical Devices Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Diagnostic Devices |
| 11.1.2.Monitoring Devices |
| 11.1.3.Therapeutic Devices |
| 11.1.4.Rehabilitation Devices |
| 11.1.5.Others |
| 11.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Portable |
| 11.2.2.Wearable |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Hospitals |
| 11.3.2.Diagnostic Centers |
| 11.3.3.Ambulatory Surgical Centers |
| 11.3.4.Homecare |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Smart Medical Devices Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Diagnostic Devices |
| 12.1.2.Monitoring Devices |
| 12.1.3.Therapeutic Devices |
| 12.1.4.Rehabilitation Devices |
| 12.1.5.Others |
| 12.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Portable |
| 12.2.2.Wearable |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Hospitals |
| 12.3.2.Diagnostic Centers |
| 12.3.3.Ambulatory Surgical Centers |
| 12.3.4.Homecare |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Smart Medical Devices Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Diagnostic Devices |
| 13.1.2.Monitoring Devices |
| 13.1.3.Therapeutic Devices |
| 13.1.4.Rehabilitation Devices |
| 13.1.5.Others |
| 13.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Portable |
| 13.2.2.Wearable |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Hospitals |
| 13.3.2.Diagnostic Centers |
| 13.3.3.Ambulatory Surgical Centers |
| 13.3.4.Homecare |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Philips (Netherlands) |
| 14.2.2.Fitbit (US) |
| 14.2.3.Monica Healthcare (UK) |
| 14.2.4.Garmin (Switzerland) |
| 14.2.5.LifeWatch (Switzerland) |
| 14.2.6.Omron (Japan) |
| 14.2.7.Jawbone (US) |
| 14.2.9.Polar (Finland) |
| 14.2.10.VitalConnect (US) |
| 14.2.11.Activeinsights (UK) |
| 14.2.12.Misfit (US) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.