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Global Software As A Medical Device (SaMD) Market: Predicted Size, Growth Trends, Key Drivers, and Future Predictions
Software As A Medical Device (SaMD) Market
What Is The Projected Market Size Of The Global Software As A Medical Device (SaMD) Market And Its Growth Rate?
The SaMD market has exhibited considerable growth in the recent past and is expected to maintain this trend in the coming years.
• Growth from 2024 to 2025: $29802.38 billion to $36884.09 billion (23.8% CAGR)
• Expected growth by 2029: $84269.39 billion (22.9% CAGR)
These growth figures are primarily due to globalization, increased complexity of challenges, market dynamics, Shared R&D costs, and sustainability goals.
What Is Driving The Growth In The Software As A Medical Device (SaMD) Market?
Rapid adoption of IoT in healthcare is acting as a major catalyst for the growth of the SaMD market. IoT devices prioritizing healthcare applications offer potential to revolutionize patient care, induce proactive treatments, ensure individualized care, enhance patient outcomes, and bolster data privacy. As per Medicon Publications, 80% of Americans favored the usage of remote patient monitoring in 2021, indicating a potential user base of 30 million patients by 2024.
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Who Are The Key Players Driving Software As A Medical Device (SaMD) Market Growth?
Key players operating in the SaMD market include:
• Apple Inc.
• McKesson Corporation
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Siemens Healthcare GmbH
• GE HealthCare Technologies Inc.
• Roche Diagnostics
• 3M Health Care
• Cerner Corporation
• Illumina Inc., and others.
What Are The Key Trends In The Software As A Medical Device (SaMD) Market?
Major trends in the SaMD market:
• Ecosystem partnership
• Rapid technological obsolescence
• Digital transformation
• Access to new technologies
• Innovation imperative
• Technological advancements
What Are The Segments Of The Global Software As A Medical Device (SaMD) Market?
• Device Type: Wearable Device, PCs And Laptop, Smartphone And Tablets
• Deployment Method: Cloud-Based, On-Premise
• Application: Diagnostic, Clinical Management
Which Region Leads The Software As A Medical Device (SaMD) Market?
In 2024, North America was identified as the largest influencer of the SaMD market. However, the Asia-Pacific region is predicted to be the fastest-growing region in the forecast period.
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What Is Covered In The Software As A Medical Device (SaMD) Market Global Market Report?
- Market Size Analysis: Analyze the Software As A Medical Device (SaMD) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Software As A Medical Device (SaMD) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Software As A Medical Device (SaMD) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Software As A Medical Device (SaMD) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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