The Diagnostic and Monitoring Devices Accounted for Major Share of the Global Smart Medical Devices Market

The smart medical devices market was valued at $31.5 billion in 2021, and is estimated to reach $132.1 billion by 2031, growing at a CAGR of 15.4% from 2022 to 2031.

The market is categorized into blood glucose monitoring, cardiovascular, and other applications. The cardiovascular segment is anticipated to experience the most rapid growth during the forecast period, driven by factors such as the expanding elderly population, advancements in technology, and enhanced effectiveness of smart medical devices. For instance, as per the United Nations Department of Economic and Social Affairs, the global population aged 65 years or over was 703 million in 2019, a figure projected to double to 1.5 billion by 2050. The proportion of people aged 65 years or over rose from 6.0% in 1990 to 9.0% in 2019 and is expected to increase to 16.0% by 2050, indicating that one in six individuals worldwide will be aged 65 years or over.

𝑹𝒆𝒒𝒖𝒆𝒔𝒕 𝑺𝒂𝒎𝒑𝒍𝒆 𝑪𝒐𝒑𝒚 𝒐𝒇 𝑹𝒆𝒑𝒐𝒓𝒕 https://www.alliedmarketresearch.com/request-sample/A17644

The market is divided by product type into diagnostic & monitoring devices and therapeutic devices. Additionally, the diagnostic and monitoring devices segment is further categorized as wearable and non-wearable. The demand for diagnostic and monitoring devices is anticipated to show the swiftest market growth during the forecast period owing to increased device usage and the anticipated introduction of pipeline products.

For example, VitalConnect, Inc., a prominent provider of remote and in-hospital wearable biosensor technology, unveiled its VitalPatch RTM cardiac monitoring solution in November 2020, catering to patients requiring extended Holter monitoring. Furthermore, in October 2019, West Pharmaceutical Services, Inc. announced two innovative product offerings at the 2019 PDA Universe of Pre-Filled Syringes and Injection Devices (PDA PFS). West introduced the NovaPure 3mL Cartridge components, comprising plunger and lined seal components tailored for consistent delivery in higher-volume injectable drug delivery systems, and the SmartDose Gen. II 10mL injector, facilitating subcutaneous delivery of various drug formulations with viscosities up to 10mL in volume.

𝑯𝒂𝒗𝒆 𝑨𝒏𝒚 𝑸𝒖𝒆𝒓𝒚? 𝑨𝒔𝒌 𝑶𝒖𝒓 𝑬𝒙𝒑𝒆𝒓𝒕@: https://www.alliedmarketresearch.com/purchase-enquiry/18094

In 2021, North America held the largest revenue share and is expected to sustain its leadership position from 2021 to 2031. This is attributed to factors such as a sizable patient population, the strong presence of key industry players, readily available products, well-established healthcare infrastructure, favorable healthcare expenditure policies, extensive research, development, and innovation activities, and a higher adoption rate of advanced products. On the other hand, Asia-Pacific is projected to witness the highest Compound Annual Growth Rate (CAGR), driven by trends in the smart medical devices market, including an increase in the number of cardiovascular patients and growing awareness regarding smart medical devices.

𝑲𝒆𝒚 𝑩𝒆𝒏𝒆𝒇𝒊𝒕𝒔 𝑭𝒐𝒓 𝑺𝒕𝒂𝒌𝒆𝒉𝒐𝒍𝒅𝒆𝒓𝒔
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart medical devices market analysis from 2021 to 2031 to identify the prevailing smart medical devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the smart medical devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global smart medical devices market trends, key players, market segments, application areas, and market growth strategies.

𝑲𝒏𝒐𝒘 𝑴𝒐𝒓𝒆- https://www.alliedmarketresearch.com/smart-medical-devices-market-A17644

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