Smart Medical Devices Market By Product type Diagnostic and Monitoring Devices (Blood Glucose Monitors, Heart Rate Monitors, EEG/ECG Monitors, Cardiac Event, Pulse Oximeters, Blood Pressure Monitors, Fetal Monitor, Breathalyzer, Medical Tricorder, Blood Analyte Analyzers, Others), Therapeutic Device (Portable Oxygen Concentrators and Ventilators, Insulin Pumps, Neuro-stimulators, Hearing Aids, Others), Injury Prevention and Rehabilitation Devices (Body Motion Devices, Fall Detection Devices, Others) Industry Trends,Analysis & Forecast, 2017 - 2025

October 2018

 ERC 2063

Smart Medical Devices Market is expected to grow with a CAGR of XX% during the forecast period of 2018 to 2025.

In healthcare, adding intelligence to the medical devices is often considered as a significant opportunity for enabling more patients to take control of their therapies. The concept of reminding users when to take their medicine, and recording data on biometrics (e.g. heart rate, blood glucose levels, blood pressure) holds utmost importance in the current scenario. The application of emerging technologies, digital health and the inception of the IoT (Internet of Things) has made it easier to integrate smart medical devices to the Internet and in effect fuse communication with functionality. Smart medical devices have the potential to allow patients to manage their health at home, which once had to be handled by the healthcare professionals.

Market Determinants

The prime factor driving the growth of global smart medical devices market is the rise in demand for smartphone-compatible and wireless medical devices. According to the World Health Organization the global geriatric population will reach 1.5 billion by 2050, representing 16% of the world’s population, which is expected to boost the global market of smart medical devices. Moreover, soaring demand for home healthcare and rising healthcare expenditures are likely to drive the global smart medical devices market. Whereas, high price of smart medical devices, privacy issues related to the data gathered and shared by such devices, and government regulations are the major hurdles in the growth of the market. However, spiraling technological innovations in smart medical devices are expected to create huge opportunities for the growth of market in the coming years.

Segment Analysis

The global smart medical devices market is segmented on the basis of product type, test type, end users, and geography. By product type, the market is segmented into diagnostic & monitoring devices, therapeutic device, injury prevention & rehabilitation devices, and others. The therapeutic segment is expected to offer the most lucrative opportunities due to the unhealthy diet and sedentary lifestyle of today’s generation. On the basis of test type, the market can be segmented into portable, wearable, and others. By end users, the market is segmented into hospitals, clinics, home care settings, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. In terms of region, North America is the largest market for smart medical devices, owing to the increasing healthcare expenditures and advancements in healthcare technology.

Some reputed players in the market are Apple, Inc., Cycadia Health, Health Care Originals, Fitbit, Inc., Medtronic, Abbott, Dexcom, F. Hoffmann-La Roche, Zephyr, and Johnson & Johnson. Health Care Originals developed a wearable technology that identifies and alerts users to precursor symptoms of asthmatic attacks. The device, popularly known as the Automated Device for Asthma Monitoring and Management (ADAMM) is a soft, flexible, waterproof, wearable Internet of Things (IoT) device, which communicates with a smart phone app and web portal using Bluetooth, WiFi, and cellular connections.

SMART MEDICAL DEVICES MARKET SEGMENTATION

By Product type
• Diagnostic and Monitoring Devices
o Blood Glucose Monitors
o Heart Rate Monitors
o EEG/ECG Monitors
o Cardiac Event
o Pulse Oximeters
o Blood Pressure Monitors
o Fetal Monitor
o Breathalyzer
o Medical Tricorder
o Blood Analyte Analyzers
o Others
• Therapeutic Device
o Portable Oxygen Concentrators and Ventilators
o Insulin Pumps
o Neuro-stimulators
o Hearing Aids
o Others
• Injury Prevention and Rehabilitation Devices
o Body Motion Devices
o Fall Detection Devices
o Others

By Test type
• Portable
• Wearable
• Others

By End-users
• Hospitals
• Clinics
• Home care settings
• Others

By Geography
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East
o South Africa
o Rest of RoW

SMART MEDICAL DEVICES MARKET PLAYERS

• Apple, Inc.
• Cycadia Health
• Health Care Originals
• Fitbit, Inc.
• Medtronic
• Abbott
• Dexcom
• F. Hoffmann-La Roche
• Zephyr
• Johnson & Johnson

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    What Information does this report contain?

    • What was the market size of the Smart Medical Devices Market in 2017 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2017 - 2025)?
    • Which are the leading companies in the Smart Medical Devices Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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