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Smart Medical Devices: Global Markets

·4-min read

Report Scope: This report will provide detailed exposure to the smart medical devices market, analyzing the market trends with data from 2020, estimates from 2021, projections of compound annual growth rates through 2026 (forecast period 2021-2026), and regional markets.

New York, June 07, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Smart Medical Devices: Global Markets" -
The report highlights smart medical devices’ current and future market potential and offers a detailed analysis of the competitive environment, covering regulatory scenarios, drivers, restraints, and opportunities. The report also
covers market projections for 2026 and market share for key market players.

The market has been segmented based on product type, application, and geography.Based on product type, the market in this report is segmented into wearable, non-wearable, and implantable medical devices.

The applications of smart medical devices considered in this report include cardiovascular, diabetes, neurology, sleep disorders, and others.

The regional market analysis of smart medical devices is also covered in this report.The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, and the Rest of the World (RoW) regions.

Detailed analysis of major countries such as the U.S., Germany, the U.K., Italy, France, Japan, China, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2020 because of the base year, with estimates for 2021 and forecast value for 2026.

*Note: The report’s scope includes smart devices that are medically accepted and approved in the market and excludes smart trackers such as smart watches, wristband sensors, eye-wearing smart glasses, smart belts, earrings, earphones, headphones, gloves, shoes, baseball caps, bras, arm bands, scarfs, and many others.

Report Includes:
- 14 data tables and 14 additional tables
- An updated overview of the global market for smart medical devices within the industry
- Analyses of the global market trends, with historic market revenue (sales data) for 2019-2021, and projections of compound annual growth rates (CAGRs) through 2026
- Highlights of the current and future market potential for smart medical devices, and areas of focus to forecast this market into various segments and sub-segments
- Evaluation and forecast the global market size for smart medical devices, projected growth trends, and corresponding market share analysis by product type, application, and geographic region
- Technology assessment of the key drivers, restraints and opportunities that will shape the market over the next five years (2021 to 2026)
- Analysis of market opportunities with detailed Porter’s five forces analysis for the smart medical devices market
- In-depth information on increasing investments on R&D activities, key technology issues, industry specific challenges, major types of end-user markets, and COVID-19 implications on the progress of this market
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Company profiles of major players, including Abbott, Boston Scientific Corp., F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Medtronic, Novo Nordisk

The global market for smart medical devices was valued at $REDACTED in 2020 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED to reach over REDACTED by 2026. The growth of the global market is attributed to factors such as advancements in innovation and technologies, an increasing number of chronic diseases, and product launches of novel smart medical devices.

Smart medical devices are abbreviated as Self-Directed, Motivated, Adaptive, Resource-Enriched, and Technologies-Embedded (SMART). These IoT-based devices are embedded with sensors that collect and analyze data and transmit it to the patient or physician via a connected network using various modes of technology, such as Bluetooth, WiFi, and others.

Smart medical devices are used to manage various chronic diseases, therefore the increasing number of chronic diseases is another factor propelling growth in the market. The federal census estimates that people aged 65+ will make up nearly a quarter of the U.S. population by 2060. Studies show that nearly REDACTED% (REDACTED) of Americans have at least one chronic disease and REDACTED% (REDACTED) have more than one. It is estimated that, by 2023, the number of chronic disease cases will increase to REDACTED (REDACTED% of the total American population).

The global market for smart medical devices is segmented based on product type, application, and region.
Read the full report:

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