Press release
Global Smart Medical Devices Market to grow at a CAGR of 7.22% by 2030, Evaluates DelveInsight
DelveInsight's "Smart Medical Devices Market Insights, Competitive Landscape and Market Forecast-2030" report provides the current and forecast market outlook, forthcoming device innovation, challenges, market drivers and barriers. The report also covers the major emerging products and key Smart Medical Devices companies actively working in the market.
To know more about why North America is leading the market growth in the Smart Medical Devices market, get a snapshot of the report Smart Medical Devices Market Trends
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Smart Medical Devices Overview
Smart medical devices are advanced healthcare tools equipped with sensors, software, and connectivity features that enable real-time monitoring, data collection, and analysis of patients' health. These devices can communicate with smartphones, computers, or cloud systems to provide personalized insights, improve diagnostics, support treatment decisions, and enhance patient care. Examples include wearable heart monitors, insulin pumps, smart inhalers, and connected blood pressure monitors.
DelveInsight Analysis: The global smart medical devices market is projected to grow at a CAGR of 7.22% between 2024 and 2030, reaching USD 42,558.17 million by 2030.
Smart Medical Devices Market Insights
Geographically, Among all regions, North America is expected to hold a significant share of the global smart medical devices market. The rising prevalence of chronic conditions such as diabetes, hypertension, high triglyceride levels, asthma, and chronic obstructive pulmonary disease (COPD)-driven by high consumption of processed foods, sedentary lifestyles, pollution exposure, and other factors-is boosting demand for smart medical devices. Furthermore, growing awareness of real-time, data-driven approaches for diagnostics and treatment is expected to further increase demand in North America, contributing to overall market growth.
To read more about the latest highlights related to Smart Medical Devices, get a snapshot of the key highlights entailed in the Smart Medical Devices
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Recent Developments in the Smart Medical Devices Market Report
• In April 2022, FitBit Inc. announced that it has received FDA approval for its AFib Detection algorithm, which can detect atrial fibrillation (AFib).
• In March 2022, Novo Nordisk, a global pharmaceutical company, announced that its two smart connected insulin pens, NovoPen 6 and NovoPen Echo Plus, are now available by prescription for people with diabetes using Novo Nordisk insulin in the UK.
• In January 2022, Insulet, an innovative medical device company focused on improving the lives of people with diabetes, announced that its Omnipod 5 insulin pump has received FDA clearance for use in diabetic patients. The Omnipod 5 is a patch-like device that can automatically adjust daily insulin doses based on the wearer's blood sugar levels.
• Thus, owing to such developments in the market, rapid growth will be observed in the Smart Medical Devices market during the forecast period
Key Players in the Smart Medical Devices Market
Some of the key market players operating in the Smart Medical Devices market include- Sonova., Abbott., Samsung Electronics Co., Ltd., Medtronic Plc., CeQur Simplicity, DEXCOM, INC., Enable Injections, Garmin LTD., Insulet Corporation, Johnson & Johnson Services, Inc, Neurometrix, INC., Omron Healthcare, INC., F. HOFFMAN-LA ROCHE LTD, Sotera Wireless, INC., Vitalconnect, West Pharmaceutical Services, INC., FitBit, Qardio, Inc., Novo Nordisk A/S, Emperra GmbH E-Health Technologies, among others.
Which MedTech key players in the Smart Medical Devices market are set to emerge as the trendsetter explore @ Key Smart Medical Devices Companies
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Analysis on the Smart Medical Devices Market Landscape
Additionally, the demand for devices such as ECG monitors, drug delivery devices like insulin and hormone patches, and insulin pens and pumps increased during the pandemic, contributing to overall growth in the smart medical devices market. New product launches further boost market demand; for example, in November 2020, Medtronic launched InPen, a reusable smart insulin pen integrated with real-time Guardian Connect CGM data. InPen is the first and only FDA-cleared smart insulin pen available for individuals using multiple daily injections (MDI).
Consequently, the expanding applications of diagnostic and monitoring devices are expected to drive increased demand for these smart medical devices, supporting overall market growth.
Scope of the Smart Medical Devices Market Report
• Coverage: Global
• Study Period: 2021-2030
• Smart Medical Devices Market Segmentation By Product Type: Diagnostic & Monitoring Devices [Blood Glucose Monitors, Heart Rate Monitors, Pulse Oximeters, Blood Pressure Monitors, Breath Analyzers, and others
• Smart Medical Devices Market Segmentation By Therapeutic Devices: Oxygen Concentrators & Ventilators, Insulin Pumps & Pens, Hearing Aids, And Others
• Smart Medical Devices Market Segmentation By End User: Hospital & Retail Pharmacy, E-Commerce, and others
• Smart Medical Devices Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of the World
• Key Smart Medical Devices Companies: Sonova., Abbott., Samsung Electronics Co., Ltd., Medtronic Plc., CeQur Simplicity, DEXCOM, INC., Enable Injections, Garmin LTD., Insulet Corporation, Johnson & Johnson Services, Inc, Neurometrix, INC., Omron Healthcare, INC., F. HOFFMAN-LA ROCHE LTD, Sotera Wireless, INC., Vitalconnect, West Pharmaceutical Services, INC., FitBit, Qardio, Inc., Novo Nordisk A/S, Emperra GmbH E-Health Technologies, among others
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Interested in knowing how the Smart Medical Devices market will grow by 2030? Click to get a snapshot of the Smart Medical Devices Market Analysis
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Contact Us
Gaurav Bora
info@delveinsight.com
+14699457679
www.delveinsight.com
About DelveInsight
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing end-to-end comprehensive solutions to improve their performance.
Get hassle-free access to all the healthcare and pharma market research reports through our subscription-based platform PharmDelve.
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