Smart Medical Devices Market 2021 By Emerging Trends, Industry Share, Regional Overview and SWOT Analysis till 2028

Smart Medical Devices Market: Introduction

According to the report, the global smart medical devices market was valued at US$ 48.6 Bn in 2020 and is projected to expand at a CAGR of 7.5% from 2021 to 2028. Smart medical devices are electronic devices, which are portable, have a processing system, memory to store data, and sensors to diagnose and monitor activity and can exchange the data. Smart medical devices help physicians to detect various diseases from various vital signs of the body and to monitor the various chronic diseases such as hypertension and diabetes. These devices also help individuals to keep track of health and fitness. These devices reduce the workload of the healthcare provider by tracking patient health remotely and take quick action on available data.

Access Full Report @ https://www.transparencymarketresearch.com/smart-medical-devices-market.html

Lack of Suitable Infrastructure in Low-middle Income Countries to Restrain Market

Most of the medical devices, including smart and conventional, are IT-dependent hardware and software powered by electricity. Failure of hardware or bugs in software could affect the overall performance of the device while risking healthcare operations. A power failure or dependence on rechargeable batteries poses a risk in areas with limited electrical infrastructure. Moreover, most of the developed world is largely electrified; however, low- and middle-income countries still struggle with providing adequate electricity in remote regions. This could cause limitations in the penetration of smart medical devices across regions, thereby hampering the growth of the global market.

Diagnostic & Monitoring Devices Gaining Preference

In terms of product type, the global smart medical devices market has been segmented into diagnostic & monitoring devices, therapeutic devices, injury prevention & rehabilitation devices, and others. The diagnostic & monitoring devices segment has been split into blood glucose monitors, heart rate monitors, EEG/ECG monitors, cardiac event monitors, pulse oximeters, blood pressure monitors, fetal monitors, breathalyzers, medical tricorders, blood analyte analyzers, and others. The therapeutic devices segment has been segregated into portable oxygen concentrators & ventilators, insulin pumps, neuro-stimulators, hearing aids, and others. The injury prevention & rehabilitation devices segment has been categorized into body motion devices, fall detection devices, and others.

Get a sample of the report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18344

The diagnostic & monitoring devices segment accounted for the largest share of the global smart medical devices market in 2020, and the trend is expected to continue during the forecast period. Increase in preference for fitness bands and portable monitoring devices drives the diagnostic & monitoring devices segment.

Portable Segment to Lead Global Market

Based on modality, the global smart medical devices market has been classified into portable, wearable, and others. The portable segment held the largest share of the global smart medical devices market in 2020 and the trend is expected to continue during the forecast period. This can be attributed to rise in prevalence of infectious diseases in developing countries, increase in incidence of lifestyle diseases, surge in the geriatric population, and technological advancements with regard to development of advanced, faster, and easy to-use devices.

Request for Analysis of COVID-19 Impact on Smart Medical Devices Market @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=18344

Home Care Settings to Drive Demand

In terms of end-user, the global smart medical devices market has been divided into hospitals, clinics, home care settings, and others (industrial, institutions, academics, nursing facility, etc.). The home care settings segment dominated the global smart medical devices market in 2020. Home care settings are mostly preferred because these are convenient, accessible, monitor health continuously, and provide faster results.

Asia Pacific to Present Significant Opportunities

In terms of region, the global smart medical devices market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America accounted for the major share of the global market in 2020, followed by Europe. North America's large market share can be attributed to high prevalence of chronic diseases, increase in health care expenditure leading to rise in demand for better medical devices & health care services, and technological advancements in smart medical devices.

However, the market in Asia Pacific is projected to grow at a rapid pace from 2021 to 2028 due to unhealthy lifestyle resulting in rise in prevalence of chronic and lifestyle diseases. Additionally, high percentage of geriatric population, rise in awareness about health, and increase in disposable income are anticipated to drive the market in the region during the forecast period.

Make an Enquiry before Buying @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=18344

Competition Landscape

The global smart medical devices market is fragmented in terms of number of players. Key players in the global market include Abbott Laboratories, Apple, Inc., Dexcom, Inc., Fitbit, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Medtronic plc, NeuroMetrix, Inc., Samsung Electronics Co., Ltd, and TRB Chemedica Int. SA.

More Related Reports by Transparency Market Research -

Type I Diabetes Mellitus Treatment Market: https://www.transparencymarketresearch.com/type-i-diabetes-mellitus-treatment-market.html

Purpura Treatment Market: https://www.transparencymarketresearch.com/purpura-treatment-market.html

Hemostasis Diagnostic Analyzers and Reagents Market: https://www.transparencymarketresearch.com/hemostasis-diagnostic-analyzers-reagents-market.html

Fragile X Syndrome Market: https://www.transparencymarketresearch.com/fragile-x-syndrome-market.html

Transthyretin Amyloidosis Treatment Market: https://www.transparencymarketresearch.com/transthyretin-amyloidosis-treatment-market.html

Chemotherapy Drugs Market: https://www.transparencymarketresearch.com/chemotherapy-drugs-market.html

Acquired Hemophilia Therapeutics Market: https://www.transparencymarketresearch.com/acquired-hemophilia-therapeutics-market.html

Pulmonary Edema Therapeutics Market: https://www.transparencymarketresearch.com/pulmonary-edema-therapeutics-market.html

Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

This release was published on openPR.