Smart Medical Devices Market is Booming Worldwide | Abbott Laboratories, Apple Inc., Dexcom, Inc., Fitbit, Inc

The global smart medical devices market is envisioned in a report by Transparency Market Research (TMR) to find brand recognition, geographical presence, and product portfolio forming the basis of competition between leading players. Top companies such as Apple Inc., F. Hoffmann-La Roche Ltd., and Abbott Laboratories are expected to stay ahead of their competitors while attracting the much needed attention of consumers in the global smart medical devices market.

These players may rely on their blockbuster products to make their presence known in the global smart medical devices market. They accounted for a collective share of 43.0% in 2015. Product penetration and innovation could be among go-to strategies to take the lead in the global smart medical devices market.

Obtain Report Details @ https://www.transparencymarketresearch.com/smart-medical-devices-market.html

TMR foresees the global smart medical devices market to post a 7.8% CAGR between 2016 and 2024 to reach a valuation of US$66.1 bn by the final forecast year. The global smart medical devices market was worth a US$38.9 bn in 2017. By 2024, diagnostic and monitoring devices could bag a lion’s share of 47.4% of the global smart medical devices market. Regionally, North America is projected to take the driver’s seat of the global smart medical devices market while posting a 7.5% CAGR.

Increasing Number of Geriatrics Vulnerable to Various Diseases Stokes Demand

The global smart medical devices market is forecast to attract high growth opportunities due to the increase in geriatric population susceptible to a wide range of diseases. The growing need for efficiently managing diseases could be a primary factor stoking the demand in the global smart medical devices market. In this regard, it could be said that the healthcare industry can largely benefit from the use of advanced properties of smart medical devices.

On the other hand, technological development, increasing patient awareness, and high adoption of smart ways of dealing with diseases are foretold to set the tone for significant growth in the global smart medical devices market. Rising investment is forecast to support the expansion of the global smart medical devices market.

Get Sample with Latest Research @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18344

Emerging Countries Show Low Adoption Considering Smart Medical Devices as Luxury

The global smart medical devices market may face the brunt of most products being labeled as “luxury items” in developing countries. Another growth deterrent of the global smart medical devices market could be the high cost of products. Privacy concerns regarding the exposure of patient data could also arrest the demand in the global smart medical devices market.

However, improving awareness about various products offered in the global smart medical devices market and their increased sales in niche markets are predicted to promise strong growth prospects in the near future. Low entry barriers could be a massive encouragement for new players of the global smart medical devices market.

Contact Us

Transparency Market Research
State Tower,
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

This release was published on openPR.