Product Code: 1969
Smart Medical Devices Market is anticipated to demonstrate growth through 2032, owing to the constantly increasing internet penetration rate and surging big data adoption. Besides, the smart medical devices offer rapid and real-time identification of anomalies or changes in health conditions. Factors such as lower costs and reduced workload and increased patient engagement and control would enhance the product demand. The mounting use of smartphones and constant tech innovations in North America, Europe, and Asia Pacific to strengthen the healthcare sector, will further bolster the smart medical devices industry growth.
Although, data privacy and cybersecurity are two major concerns that may hinder smart medical devices adoption as these pose higher amounts of data that are transmitted via wireless technologies. Nevertheless, novel medical technology has revolutionized the way doctors and patients participate and interact with other. In addition, the rising demand for real-time information and tracking past health records to identify potential health issues will positively influence the overall industry outlook in the coming years.
The key providers in the smart medical devices industry are engaging in partnerships, mergers, and acquisitions and launching new products to stay competitive in the overall market. In early 2021, ICON.AI revealed the world's first Smart Healthcare Device during CES 2021. The medical device, with just One Touch of the Detachable Health Tracker, takes comprehensive readings from the user's fingertips to trace heart rate information, peripheral oxygen saturation levels, and blood pressure trends, all under 1 minute.
Overall, the smart medical devices industry is segmented in terms of product, end-use, and region.
By product, the therapeutic devices market is expected to exhibit significant growth by 2032 end. Therapeutic devices include insulin pumps, portable oxygen concentrators & ventilators, hearing aids, and others. The segmental growth will be attributed to the rising prevalence of diabetes across the globe. Besides, the increasing awareness of several benefits offered by novel medical devices that empowers people to keep track of and maintain their well-being will drive the demand for therapeutic smart medical devices.
Based on end-use, the others segment is slated to be valued at over USD 9.3 billion by 2032. The growth will be favored by increasing demand for ambulatory surgical centers and clinics. In addition, lower cost of care, safety, convenience and accessibility, time, reduced stress, and predictable scheduling are some of the key benefits that will spur the adoption of ambulatory surgical centers in the future.
Regionally, the North America smart medical devices industry held over 37.5% market share in 2022. Surging adoption of innovative technologies coupled with the well-developed healthcare infrastructure across the developed economies will most likely encourage the demand for smart medical devices in the region.
Table of Contents
Chapter 1 Methodology
- 1.1 Methodology
- 1.2 Market scope & definitions
- 1.3 Base estimates & working
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 MEA
- 1.4 Forecast parameters
- 1.5 Data validation
- 1.6 Data sources
- 1.6.1 Secondary
- 1.6.1.1 Paid sources
- 1.6.1.2 Public sources
- 1.6.2 Primary
Chapter 2 Executive Summary
- 2.1 Smart medical devices industry 360 degree synopsis, 2018-2032
- 2.1.1 Business trends
- 2.1.2 Product type trends
- 2.1.3 End-use trends
- 2.1.4 Regional trends
Chapter 3 Smart Medical Devices Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry landscape, 2018 - 2032
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.1.1 Increasing prevalence of diabetes, asthma and other diseases
- 3.3.1.2 Booming medical device industry
- 3.3.1.3 Increasing internet penetration rate and adoption of big data
- 3.3.1.4 Increasing importance of real time data driven approach for diagnostics and treatment
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 Privacy concerns
- 3.3.2.2 Lack of suitable infrastructure in low- and middle-income countries
- 3.4 Growth potential analysis
- 3.4.1 By product type
- 3.4.2 By end-use
- 3.5 COVID-19 impact analysis
- 3.6 Regulatory landscape
- 3.7 CDMO analysis
- 3.8 Supplier landscape
- 3.9 M&A activities
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company matrix analysis
- 4.3 Strategic dashboard
Chapter 5 Smart Medical Devices Market, By Product Type
- 5.1 Key product type trends
- 5.2 Diagnostic and Monitoring
- 5.2.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.2.2 Blood Glucose Monitors
- 5.2.2.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.2.3 Heart Rate Monitors
- 5.2.3.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.2.4 Pulse Oximeters
- 5.2.4.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.2.5 Blood Pressure Monitors
- 5.2.5.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.2.6 Others
- 5.2.6.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.3 Therapeutic Devices
- 5.3.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.3.2 Portable Oxygen Concentrators and Ventilators
- 5.3.2.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.3.3 Insulin Pumps
- 5.3.3.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.3.4 Hearing Aid
- 5.3.4.1 Market size, by region, 2018 - 2032 (USD Million)
- 5.3.5 Others
- 5.3.5.1 Market size, by region, 2018 - 2032 (USD Million)
Chapter 6 Smart Medical Devices Market, By End-use
- 6.1 Key end-use trend
- 6.2 Hospitals
- 6.2.1 Market size, by region, 2018 - 2032 (USD Million)
- 6.3 Homecare Settings
- 6.3.1 Market size, by region, 2018 - 2032 (USD Million)
- 6.4 Others
- 6.4.1 Market size, by region, 2018 - 2032 (USD Million)
Chapter 7 Smart Medical Devices Market, By Region
- 7.1 Key regional trends
- 7.2 North America
- 7.2.1 Market size, by country, 2018 - 2032 (USD Million)
- 7.2.2 Market size, by product type, 2018 - 2032 (USD Million)
- 7.2.2.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.2.2.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.2.3 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.2.4 U.S.
- 7.2.4.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.2.4.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.2.4.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.2.4.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.2.5 Canada
- 7.2.5.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.2.5.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.2.5.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.2.5.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.3 Europe
- 7.3.1 Market size, by country, 2018 - 2032 (USD Million)
- 7.3.2 Market size, by product type, 2018 - 2032 (USD Million)
- 7.3.2.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.3.2.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.3.3 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.3.4 Germany
- 7.3.4.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.3.4.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.3.4.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.3.4.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.3.5 UK
- 7.3.5.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.3.5.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.3.5.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.3.5.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.3.6 France
- 7.3.6.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.3.6.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.3.6.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.3.6.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.3.7 Italy
- 7.3.7.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.3.7.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.3.7.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.3.7.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.3.8 Spain
- 7.3.8.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.3.8.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.3.8.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.3.8.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.4 Asia Pacific
- 7.4.1.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.4.1.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.4.1.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.4.1.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.4.2 Japan
- 7.4.2.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.4.2.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.4.2.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.4.2.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.4.3 China
- 7.4.3.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.4.3.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.4.3.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.4.3.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.4.4 India
- 7.4.4.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.4.4.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.4.4.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.4.4.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.4.5 Australia
- 7.4.5.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.4.5.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.4.5.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.4.5.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.5 Latin America
- 7.5.1 Market size, by country, 2018 - 2032 (USD Million)
- 7.5.2 Market size, by product type, 2018 - 2032 (USD Million)
- 7.5.2.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.5.2.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.5.3 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.5.4 Brazil
- 7.5.4.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.5.4.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.5.4.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.5.4.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.5.5 Mexico
- 7.5.5.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.5.5.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.5.5.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.5.5.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.6 MEA
- 7.6.1 Market size, by country, 2018 - 2032 (USD Million)
- 7.6.2 Market size, by product type, 2018 - 2032 (USD Million)
- 7.6.2.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.6.2.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.6.3 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.6.4 South Africa
- 7.6.4.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.6.4.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.6.4.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.6.4.2 Market size, by end-use, 2018 - 2032 (USD Million)
- 7.6.5 Saudi Arabia
- 7.6.5.1 Market size, by product type, 2018 - 2032 (USD Million)
- 7.6.5.1.1 Market size, by diagnostic & monitoring, 2018 - 2032 (USD Million)
- 7.6.5.1.2 Market size, by therapeutic devices, 2018 - 2032 (USD Million)
- 7.6.5.2 Market size, by end-use, 2018 - 2032 (USD Million)
Chapter 8 Company Profiles
- 8.1 Abbott
- 8.1.1 Business overview
- 8.1.2 Financial data
- 8.1.3 Service landscape
- 8.1.4 SWOT analysis
- 8.2 F Hoffmann-La Roche Ltd
- 8.2.1 Business overview
- 8.2.2 Financial data
- 8.2.3 Service landscape
- 8.2.4 SWOT analysis
- 8.3 Dexcom Inc
- 8.3.1 Business overview
- 8.3.2 Financial data
- 8.3.3 Service landscape
- 8.3.4 SWOT analysis
- 8.4 Fitbit Inc
- 8.4.1 Business overview
- 8.4.2 Financial data
- 8.4.3 Service landscape
- 8.4.4 SWOT analysis
- 8.5 Medtronic
- 8.5.1 Business overview
- 8.5.2 Financial data
- 8.5.3 Service landscape
- 8.5.4 SWOT analysis
- 8.6 NeuroMetrix Inc
- 8.6.1 Business overview
- 8.6.2 Financial data
- 8.6.3 Service landscape
- 8.6.4 SWOT analysis
- 8.7 Omron Corporation (Omron Healthcare)
- 8.7.1 Business overview
- 8.7.2 Financial data
- 8.7.3 Service landscape
- 8.7.4 SWOT analysis
- 8.8 VitalConnect Inc
- 8.8.1 Business overview
- 8.8.2 Financial data
- 8.8.3 Service landscape
- 8.8.4 SWOT analysis
- 8.9 Sovona
- 8.9.1 Business overview
- 8.9.2 Financial data
- 8.9.3 Service landscape
- 8.9.4 SWOT analysis