Software as a Medical Device Market Size, Latest Rising Trend & Forecast to 2027 - Top Companies Apple, Arterys, iSchemaView, MaxQ AI and Viz.AI

The report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

Software as a Medical Device Market is expected to reach USD 86,451.62 million by 2027 from US$ 18,488.00 million in 2019; it is estimated to grow at a CAGR of 21.9% from 2020 to 2027. The report provides trends prevailing in the global software as a medical device market along with the factors driving or restraining market.

The growth of the market is mainly attributed to the factors such as increasing adoption of Internet of Things (IoT) and connected devices in healthcare sector, and advantages of software as a medical device (SaMD). However, threat of data breach is obstructing the growth of the market to a certain extent.

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Top Leading Market Players:

1. Apple, Inc.
2. Arterys, Inc.
3. Greenfinch Technology, Ltd.
4. IDx Technologies, Inc. (RAPID)
5. iSchemaView, Inc.
6. Koninklijke Philips N.V.
7. MaxQ AI, Ltd.
8. Qlarity Imaging LLC
9. Siemens Healthineers AG
10. Viz.AI, Inc.

The software as a medical device market, by application, is segmented into screening and diagnosis, monitoring and alerting, and disease management. The screening and diagnostics segment held the largest share of the market in 2019, whereas the monitoring and alerting segment is anticipated to register the highest CAGR during the forecast period. The early detection of diseases is vital and various people struggle to access basic and simple tests that can be helpful to trace the symptoms and signs of a disease.

Various software companies these days are focused on developing applications that are compatible with smartphones and computers, and are able to convert these devices into disease diagnostic systems.

For instance, in February 2020, the researchers at the University of Cincinnati developed a lab chip that can be plugged into smartphones and has ability to detect various infectious diseases such as malaria, Lyme, HIV, and coronavirus. Significant progress in the display, sensor, and battery technologies together have paved the way for modern mobile devices such as smartphones, tablets, and laptops enabling seamless Internet connectivity, and operations that helps in efficient monitoring of health and fitness. The advancements in software technologies for the diagnosis of various diseases are expected to drive the growth of the market in the coming years.

Key Benefits :

To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Software as a Medical Device Market.

To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Software as a Medical Device Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Software as a Medical Device Market segments and regions.

Scope of the study:

The research on the Software as a Medical Device Market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Software as a Medical Device Market on the basis of end user, product type, application, and demography for the forecast period 2020 - 2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

The report analyzes the software as a medical device market segmented on the basis of the following segments:

Software as a Medical Device Market – By Device Type

PCs/Laptops
Smartphones/Tablets
Wearable Devices

Software as a Medical Device Market – By Application

Screening and Diagnosis
Monitoring and Alerting
Disease Management

Software as a Medical Device Market – By Deployment Type

Cloud
On-Premises

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What our report offers:

Learn about the driving factors, affecting the market growth.
Imbibe the advancements and progress in the market during the forecast period.
Understand where the market opportunities lies.
Compare and evaluate various options affecting the market.
Pick up on the leading market players within the market.
Envision the restrictions and restrains that are likely to hamper the market.

Contact Us:

The Insight partners,
Phone: +1-646-491-9876
Email: sales@theinsightpartners.com
Website: www.theinsightpartners.com

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

This release was published on openPR.