Smart Medical Devices Market to Surge at a CAGR of 7.8% by 2024

Global Smart Medical Devices Market: Overview

Smart medical devices are the electronic devices with independent processing system. Smart medical devices are useful in day to day life to monitor and diagnose various parameter of health and fitness.

A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the smart medical devices market, has been provided in this report. Market revenue for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2016-2024, considering 2015 as the base year, and 2014 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2016-2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc.

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These players may rely on their blockbuster products to make their presence known in the global smart medical devices market. They accounted for a collective share of 43.0% in 2015. Product penetration and innovation could be among go-to strategies to take the lead in the global smart medical devices market.

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TMR foresees the global smart medical devices market to post a 7.8% CAGR between 2016 and 2024 to reach a valuation of US$66.1 bn by the final forecast year. The global smart medical devices market was worth a US$38.9 bn in 2017. By 2024, diagnostic and monitoring devices could bag a lion’s share of 47.4% of the global smart medical devices market. Regionally, North America is projected to take the driver’s seat of the global smart medical devices market while posting a 7.5% CAGR.

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Global Smart Medical Devices Market: Segmentation

Based on product type, global smart medical market is segmented on the basis of product are diagnostic and monitoring devices, therapeutic device, injury prevention & rehabilitation devices and others. Diagnostic and monitoring devices segment is further sub-segmented into blood glucose monitors, heart rate monitors, EEG/ECG monitors, cardiac event, pulse oximeters, blood pressure monitors, fetal monitor, Breathalyzer, medical tricorder, blood analyte analyzers and others. Therapeutic device are further sub-segmented into portable oxygen concentrators and ventilators, insulin pumps, neuro-stimulators, hearing aids and others. Injury prevention and rehabilitation devices are further sub-segmented into body motion devices, fall detection devices and othersBased on modality, the smart medical devices market are segmented into portable, wearable and others. End users in the smart medical devices market are, hospitals, clinics, home care settings and others (industrial, institutions, academics, nursing facility, etc.)

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