Software as a Medical Device Market expected to reach USD 86,451.62 million by 2027

The software as a medical device market is expected to reach USD 86,451.62 million by 2027 from US$ 18,488.00 Mn in 2019; it is estimated to grow at a CAGR of 21.9% during 2020–2027.

Get Sample PDF Copy @ https://www.theinsightpartners.com/sample/TIPRE00010198/?utm_source=OpenPR&utm_medium=10379

Software as a medical device is defined as a software solution used for one or more medical purposes without the software actually being a part of any medical hardware. These solutions can be used across a large range of technology platforms, including medical device, commercial "off-the-shelf" platforms, virtual networks, and others.

Company Profiles
Velentium LLC
Tietronix Software, Inc.
S3 Connected Health
Zühlke Group
Science Group
Inzentiz
Cambridge Consultants Inc
BrightInsight, Inc.
CompliancePath
Jabil Inc.
Phillips-Medisize
Pro4People Sp. Z.o.o

The unique features of these devices that help them act more than a traditional medical device helps to promote innovation in digital healthcare and protect patient safety. The growth of the market is attributed to the increasing adoption of Internet of Things (IoT) and connected devices in healthcare sector, and advantages of software as a medical device, among others. However, the threat of data breach obstructs the growth of the market to a certain extent. Asia Pacific is expected to register highest CAGR in the market during the forecast period owing to rising healthcare infrastructure and increasing number of healthcare technology-based startups in the region.

Market Insights
Advantages of Software as a Medical Device
The number of technological innovations in the healthcare information technology has dramatically increased over the past few years. Wireless connectivity, artificial intelligence and cloud computing and artificial intelligence are some of the prominent advancements that have helped to transform healthcare. In addition, development of software solutions that now act as medical devices have been categorized and approved by FDA as well as European Commission are now likely to take over as leading edge technologies continuing to a source of seismic shift in healthcare modernization.

The mobile-based applications have seeped in and proved to be an important part of the healthcare for medical as well as non-medical purposes. These software solutions have become an inherent part of the patients’ life in few cases. The applications of SaMD are now not only limited to diagnosis and have widened to make their place in treatment as well as monitoring processes. These software have gained a significant attention as these are able to be run on non-medical computing platforms including personal smartphones, tablets and laptops whose use is now very common and penetrated deep in all the countries.

Purchase Copy of This Report at https://www.theinsightpartners.com/buy/TIPRE00010198/?utm_source=OpenPR&utm_medium=10379

Contact US
Contact Person : Sameer Joshi
Phone : +1-646-491-9876
E-mail : sales@theinsightpartners.com

About US
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.

This release was published on openPR.