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Smart Medical Devices Market Opportunity will Rise to US$66.1 bn by 2024

Author: Pragya Tripathi
by Pragya Tripathi
Posted: Jan 26, 2019

Global Smart Medical Devices: Snapshot

Smart medical devices have gained traction in the recent past due to the multitude of benefits they provide to the patient and the caregiver. These devices have radically changed the way a disease is managed, by storing copious amounts of data in a logical format to draw insightful inferences. From understanding patterns of diseases or health issues, smart medical devices have largely helped users to keep an efficient tract of their health and fitness regime. Owing to these reasons, the global smart medical devices market is expected to soar at a CAGR of 7.8% to reach US$66.1 bn by 2024 as compared to US$33.7 bn in 2015.

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Convenience of Tracking Health Issues through Smart Medical Devices Bodes Well for Global Market

Smart medical devices are being used as important tools by physicians to detect various disease by monitoring vital signs. Chronic disease such as hypertension and diabetes have thus received a fresh perspective from both the medical industry as well as the patients. From a broader perspective, these devices have drastically reduced the workload for healthcare providers by closely monitoring patient health and taking quick action in case of any major change in the readings. The report predicts that the demand for smart medical devices will be attributable to the growing pool of geriatrics, who are prone to a wide range of illnesses. Furthermore, the rapid technological advancements in the fitness devices have also lured in a large base of consumers who are interested in monitoring their heart rate, calorie intake, and the number of calories burned. The user-friendliness of these devices is also expected to fuel the uptake of smart medical devices in the coming few years.

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Global Smart Medical Devices Market: Scope

This report provides in-depth analysis of the smart medical devices market. The stakeholders for this report include companies involved in the manufacturing of smart medical devices and its spares parts. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition in different regions. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the smart medical devices market. Furthermore, the report incorporates market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.

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The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of Key Opinion Leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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About the Author

My name is Pragya Tripathi and I work with the Digital Marketing and Editorial team of Transparency Market Research, a market intelligence firms based in India & Usa.

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Author: Pragya Tripathi

Pragya Tripathi

Member since: Sep 17, 2018
Published articles: 1086

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