Smart Medical Devices Market Poised for Steady Growth, Fueled by Innovation and Rising Surgical Volumes | DelveInsight

The global smart medical devices market is projected to grow at a compound annual growth rate (CAGR) of 7.22% between 2024 and 2030, reaching a value of USD 42,558.17 million by 2030. This growth is largely driven by unhealthy diets, sedentary lifestyles, and a lack of physical activity, which have contributed to a rising prevalence of chronic conditions such as asthma, diabetes, hypertension, and cardiovascular diseases. Additionally, increasing awareness and the integration of internet connectivity in smart medical devices within the healthcare sector have enhanced data management capabilities. This allows healthcare professionals to monitor patients' health continuously and ensure appropriate care, thereby boosting demand for these devices. The growing emphasis on real-time patient data further supports improved patient management. Moreover, the expanding use of home-care therapeutic and diagnostic solutions worldwide is expected to strengthen market growth, contributing significantly to the smart medical devices market expansion throughout the forecast period from 2024 to 2030.

DelveInsight's Smart Medical Devices Market Insights report provides the current and forecast market analysis, individual leading Smart Medical Devices companies' market shares, challenges, Smart Medical Devices market drivers, barriers, and trends, and key Smart Medical Devices companies in the market.

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Key Takeaways from the Smart Medical Devices Market Report
The Smart Medical Devices market is projected to grow at a moderate CAGR from 2025 to 2032.
As per DelveInsight estimates, North America is anticipated to dominate the global Smart Medical Devices market during the forecast period.
Notable Smart Medical Devices companies such as Sonova., Abbott., Samsung Electronics Co., Ltd., Medtronic Plc., CeQur Simplicity, DEXCOM, INC., Enable Injections, Garmin LTD., Insulet Corporation, Johnson & Johnson Services, Inc, Neurometrix, INC., Omron Healthcare, INC., F. HOFFMAN-LA ROCHE LTD, Sotera Wireless, INC., Vitalconnect, West Pharmaceutical Services, INC., FitBit, Qardio, Inc., Novo Nordisk A/S, Emperra GmbH E-Health Technologies, and several others are currently operating in the Smart Medical Devices market.
In April 2022, FitBit Inc. announced it had received FDA approval for its AFib Detection algorithm, designed to identify atrial fibrillation (AFib).
In March 2022, Novo Nordisk, a multinational pharmaceutical company, revealed that its two smart connected insulin pens, NovoPen 6 and NovoPen Echo Plus, became available by prescription in the UK for diabetes patients using Novo Nordisk insulin.
In January 2022, Insulet, a medical device company focused on improving life for people with diabetes, announced FDA clearance for its Omnipod 5 insulin pump. The Omnipod 5 is a patch-like device that can automatically adjust insulin doses based on the wearer's blood sugar levels.
In February 2021, Qardio, Inc., an American tech firm specializing in heart health monitoring, announced it had received FDA 510(k) clearance for its QardioCore ambulatory ECG device.
In August 2020, Medtronic announced its acquisition of Companion Medical, the maker of InPen, a reusable smart insulin pen that uses Bluetooth technology to transmit dose information to a mobile app.

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Smart Medical Devices Overview

Smart medical devices are advanced healthcare tools equipped with sensors, connectivity features, and software that enable real-time monitoring, data collection, and communication between patients and healthcare providers. These devices facilitate improved diagnosis, treatment, and management of various medical conditions.

Smart Medical Devices Market Insights

Among all regions, North America is anticipated to hold a significant share of the global smart medical devices market. The increasing prevalence of chronic conditions such as diabetes, hypertension, high triglyceride levels, asthma, and chronic obstructive pulmonary disease (COPD)-driven by factors like high consumption of processed foods, sedentary lifestyles, lifestyle changes, and increased pollution exposure-is expected to boost the demand for smart medical devices. Additionally, growing awareness of real-time data-driven approaches for diagnosis and treatment will further propel the adoption of smart medical devices in North America, contributing to overall market growth.

For example, data from the Centers for Disease Control and Prevention (CDC) in 2021 revealed that in 2019, over half a million deaths in the United States listed hypertension as a primary or contributing cause. The same report estimated that nearly half of U.S. adults had hypertension in 2019. Furthermore, the Pan American Health Organization (PAHO) reported in 2022 that cardiovascular disease (CVD) is a leading cause of death in the Americas, with high blood pressure accounting for more than 50% of CVD cases. The increasing rates of hypertension and cardiovascular disease in the U.S. are expected to drive higher demand for smart medical devices used for diagnosing and monitoring these conditions. As a result, devices such as blood pressure monitors, heart rate monitors, ECG devices, and others will see increased market demand, fueling the overall growth of the smart medical devices market during the forecast period.

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Smart Medical Devices Market Dynamics

The smart medical devices market is experiencing growing demand driven by multiple factors. The rising prevalence of chronic diseases worldwide-such as diabetes mellitus, hypertension, and cardiovascular conditions-is influenced by factors like genetics, aging, obesity, unhealthy lifestyles, poor diet, and physical inactivity. Additionally, the increasing population of elderly individuals susceptible to chronic illnesses, along with greater awareness and adoption of internet connectivity, cloud-based systems, and artificial intelligence in healthcare data management, are expected to further boost the market.

For example, according to the World Health Organization (WHO) 2021 report, diabetes was the ninth leading cause of death in 2019, directly causing an estimated 1.5 million deaths globally. The prevalence and mortality rates of diabetes have been rising faster in low- and middle-income countries compared to high-income nations. WHO also identifies diabetes as a major contributor to blindness, kidney failure, heart attacks, and strokes. Additionally, the International Diabetes Federation's Diabetes Atlas 10th edition (2021) reported that 537 million adults aged 20-79 were living with diabetes in 2021, a number projected to increase to 643 million by 2030 and 783 million by 2045. Over 75% of these adults reside in low- and middle-income countries, with diabetes causing 6.7 million deaths in 2021 alone.

This growing diabetes burden is expected to drive demand for smart insulin pens-smart medical devices that provide patients and physicians with real-time data on glucose and insulin levels, insulin dosage, timing, and other relevant information via smartphone applications. The rising use of smart insulin pens will contribute significantly to the overall growth of the smart medical devices market throughout the forecast period.

Smart Medical Devices Market Drivers:
Increased prevalence of chronic disorders such as diabetes mellitus, hypertension, asthma, cardiovascular disease, & others due to genetic factors, obesity, age, & unhealthy lifestyles
Increasing awareness of real time data driven approach in healthcare industry

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Scope of the Smart Medical Devices Market Report:
Coverage: Global
Study Period: 2022 to 2032
Key Smart Medical Devices Companies: Sonova., Abbott., Samsung Electronics Co., Ltd., Medtronic Plc., CeQur Simplicity, DEXCOM, INC., Enable Injections, Garmin LTD., Insulet Corporation, Johnson & Johnson Services, Inc, Neurometrix, INC., Omron Healthcare, INC., F. HOFFMAN-LA ROCHE LTD, Sotera Wireless, INC., Vitalconnect, West Pharmaceutical Services, INC., FitBit, Qardio, Inc., Novo Nordisk A/S, Emperra GmbH E-Health Technologies, and others.

Which MedTech key players in the Smart Medical Devices market are set to emerge as the trendsetter, explore @ Smart Medical Devices Companies https://www.delveinsight.com/report-store/smart-medical-devices-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=kpr

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This release was published on openPR.