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, Oth

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.

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