Smart Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America & Middle East & Africa)

Description

The global smart medical devices market is witnessing remarkable growth, fueled by continuous advancements in digital health technologies and innovative customer-centric products. Smart medical devices utilize cutting-edge digital, networking, and sensor technologies to monitor, manage, and diagnose healthcare issues within individuals, improving health outcomes, and reducing hospital visits. These intelligent devices are not only beneficial for patients but are also utilized by healthy individuals to monitor their vitals during fitness routines. The increasing availability of therapeutic, diagnostic, and rehabilitation devices, coupled with the growing usage of smartphones, is further driving the demand for these devices. With the rising prevalence of chronic health challenges and the introduction of cutting-edge devices, the global smart medical devices market is expected to maintain a strong growth trajectory in the forecast period.

Innovative Technologies Fuel Market Expansion

The global smart medical devices market is witnessing a surge in demand for customer-centric products that assist users in monitoring their health and well-being in a user-friendly manner. Telehealth services and mobile health products are gaining tremendous traction worldwide. For instance, tele-ICU devices enable caregivers to interact with patients remotely and provide medical care. The sales of these smart medical devices are expected to grow exponentially as they achieve economies of scale.

Diagnostic and Monitoring Smart Devices to Drive Growth

The market for diagnostic and monitoring smart devices is experiencing significant growth as these devices find widespread adoption across the globe. Additionally, therapeutic and injury prevention and rehabilitation smart devices are carving their own niches in the market. The presence of favourable government norms and progressive policymaking are further supporting the research and development activities for these innovative medical technologies. Moreover, with the growing incidence of chronic illnesses such as diabetes, stroke, and renal disease, these smart medical devices are becoming increasingly essential for effective patient care.

Asia Pacific Dominates with Growing Geriatric Population and Incidence of Chronic Illnesses

Asia Pacific is at the forefront of the global smart medical devices market, fueled by increasing disposable income rates and rapid healthcare tech innovations. Major economies such as Japan and China are contributing significantly to the region's market dominance. The prevalence of chronic illnesses and obesity is on the rise in the region, particularly among the high geriatric population who constitute a major user base for smart medical devices. The region's growing per capita income is expected to further boost the adoption of these devices.

Leading Players in the Global Smart Medical Devices Market

Some of the leading players operating in the global smart medical devices market include: Samsung Electronics Co., Ltd, Abbott Laboratories, Fitbit, Inc., F. Hoffmann-La Roche Ltd., Apple, Inc., Johnson & Johnson, Medtronic plc, Dexcom, Inc., NeuroMetrix, Inc., and Sonova.

1. Executive Summary

1.1. Global Smart Medical Devices Market Outlook, 2018 - 2030 (US$ Million and Units)
1.2. Global Smart Medical Devices Market Incremental Opportunity, 2018 - 2030 (US$ Million)
1.3. Key Industry Trends

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver 1
  - 2.2.1.2. Driver 2
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Porters Five Forces Analysis
2.4. Regulatory Guidelines & Reimbursement Scenario
2.5. Covid-19 Impact Analysis

3. Pricing Analysis, 2022

3.1. Average Selling Price, by Product,
3.2. Average Selling Price, by Key Regions

4. Global Smart Medical Devices Market Outlook, 2018 - 2030

4.1. Global Smart Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. Diagnostics and Monitoring
    - 4.1.1.1.1. Blood Pressure Monitors
    - 4.1.1.1.2. Heart Rate Monitors
    - 4.1.1.1.3. Blood Glucose Monitors
    - 4.1.1.1.4. Pulse Oximeters
    - 4.1.1.1.5. Breath Analyzers
    - 4.1.1.1.6. Others
  - 4.1.1.2. Therapeutic
    - 4.1.1.2.1. Hearing Aids
    - 4.1.1.2.2. Oxygen Concentrators
    - 4.1.1.2.3. Insulin Pumps
    - 4.1.1.2.4. Others
- 4.1.2. BPS Analysis/Market Attractiveness Analysis

5. Global Smart Medical Devices Market Outlook, 2018 - 2030

5.1. Global Smart Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Oncology
  - 5.1.1.2. Autoimmune Disorders
  - 5.1.1.3. Diabetes
  - 5.1.1.4. Sleep Disorders
  - 5.1.1.5. Sports & Fitness
  - 5.1.1.6. Others
- 5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. Global Smart Medical Devices Market Outlook, by Modality, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Wearable
  - 5.2.1.2. Non Wearable
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Global Smart Medical Devices Market Outlook, by Tube Type, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Home Care Settings
  - 5.3.1.2. Hospitals & Clinics
  - 5.3.1.3. Sports & Fitness Centers
  - 5.3.1.4. Others
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Global Smart Medical Devices Market Outlook, by Region, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. North America
  - 5.4.1.2. Europe
  - 5.4.1.3. Asia Pacific
  - 5.4.1.4. Rest of the World
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. North America Smart Medical Devices Market Outlook, 2018 - 2030

6.1. North America Smart Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Diagnostics and Monitoring
    - 6.1.1.1.1. Blood Pressure Monitors
    - 6.1.1.1.2. Heart Rate Monitors
    - 6.1.1.1.3. Blood Glucose Monitors
    - 6.1.1.1.4. Pulse Oximeters
    - 6.1.1.1.5. Breath Analyzers
    - 6.1.1.1.6. Others
  - 6.1.1.2. Therapeutic
    - 6.1.1.2.1. Hearing Aids
    - 6.1.1.2.2. Oxygen Concentrators
    - 6.1.1.2.3. Insulin Pumps
    - 6.1.1.2.4. Others
- 6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. North America Smart Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Oncology
  - 6.2.1.2. Autoimmune Disorders
  - 6.2.1.3. Diabetes
  - 6.2.1.4. Sleep Disorders
  - 6.2.1.5. Sports & Fitness
  - 6.2.1.6. Other
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Smart Medical Devices Market Outlook, by Modality, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Wearable
  - 6.3.1.2. Non Wearable
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. North America Smart Medical Devices Market Outlook, by Tube Type, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. Home Care Settings
  - 6.4.1.2. Hospitals & Clinics
  - 6.4.1.3. Sports & Fitness Centers
  - 6.4.1.4. Others
- 6.4.2. BPS Analysis/Market Attractiveness Analysis
6.5. North America Smart Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 6.5.1. Key Highlights
  - 6.5.1.1. U.S.
  - 6.5.1.2. Canada
- 6.5.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Smart Medical Devices Market Outlook, 2018 - 2030

7.1. Europe Smart Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Diagnostics and Monitoring
    - 7.1.1.1.1. Blood Pressure Monitors
    - 7.1.1.1.2. Heart Rate Monitors
    - 7.1.1.1.3. Blood Glucose Monitors
    - 7.1.1.1.4. Pulse Oximeters
    - 7.1.1.1.5. Breath Analyzers
    - 7.1.1.1.6. Others
  - 7.1.1.2. Therapeutic
    - 7.1.1.2.1. Hearing Aids
    - 7.1.1.2.2. Oxygen Concentrators
    - 7.1.1.2.3. Insulin Pumps
    - 7.1.1.2.4. Others
- 7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Europe Smart Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Oncology
  - 7.2.1.2. Autoimmune Disorders
  - 7.2.1.3. Diabetes
  - 7.2.1.4. Sleep Disorders
  - 7.2.1.5. Sports & Fitness
  - 7.2.1.6. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Europe Smart Medical Devices Market Outlook, by Modality, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Wearable
  - 7.3.1.2. Non Wearable
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Europe Smart Medical Devices Market Outlook, by Tube Type, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Home Care Settings
  - 7.4.1.2. Hospitals & Clinics
  - 7.4.1.3. Sports & Fitness Center
  - 7.4.1.4. Others
- 7.4.2. BPS Analysis/Market Attractiveness Analysis
7.5. Europe Smart Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 7.5.1. Key Highlights
  - 7.5.1.1. Germany
  - 7.5.1.2. France
  - 7.5.1.3. U.K.
  - 7.5.1.4. Italy
  - 7.5.1.5. Spain
  - 7.5.1.6. Rest of Europe
- 7.5.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Smart Medical Devices Market Outlook, 2018 - 2030

8.1. Asia Pacific Smart Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Diagnostics and Monitoring
    - 8.1.1.1.1. Blood Pressure Monitors
    - 8.1.1.1.2. Heart Rate Monitors
    - 8.1.1.1.3. Blood Glucose Monitors
    - 8.1.1.1.4. Pulse Oximeters
    - 8.1.1.1.5. Breath Analyzers
    - 8.1.1.1.6. Others
  - 8.1.1.2. Therapeutic
    - 8.1.1.2.1. Hearing Aids
    - 8.1.1.2.2. Oxygen Concentrators
    - 8.1.1.2.3. Insulin Pumps
    - 8.1.1.2.4. Others
- 8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Asia Pacific Smart Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Oncology
  - 8.2.1.2. Autoimmune Disorders
  - 8.2.1.3. Diabetes
  - 8.2.1.4. Sleep Disorders
  - 8.2.1.5. Sports & Fitness
  - 8.2.1.6. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Smart Medical Devices Market Outlook, by Modality, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Wearable
  - 8.3.1.2. Non Wearable
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Asia Pacific Smart Medical Devices Market Outlook, by Tube Type, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. Home Care Settings
  - 8.4.1.2. Hospitals & Clinics
  - 8.4.1.3. Sports & Fitness Center
  - 8.4.1.4. Others
- 8.4.2. BPS Analysis/Market Attractiveness Analysis
8.5. Asia Pacific Smart Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 8.5.1. Key Highlights
  - 8.5.1.1. China
  - 8.5.1.2. Japan
  - 8.5.1.3. India
  - 8.5.1.4. South Korea
  - 8.5.1.5. Australia & New Zealand
  - 8.5.1.6. Rest of Asia Pacific
- 8.5.2. BPS Analysis/Market Attractiveness Analysis

9. Rest of the World Smart Medical Devices Market Outlook, 2018 - 2030

9.1. Rest of the World Smart Medical Devices Market Outlook, by Product, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Diagnostics and Monitoring
    - 9.1.1.1.1. Blood Pressure Monitors
    - 9.1.1.1.2. Heart Rate Monitors
    - 9.1.1.1.3. Blood Glucose Monitors
    - 9.1.1.1.4. Pulse Oximeters
    - 9.1.1.1.5. Breath Analyzers
    - 9.1.1.1.6. Others
  - 9.1.1.2. Therapeutic
    - 9.1.1.2.1. Hearing Aids
    - 9.1.1.2.2. Oxygen Concentrators
    - 9.1.1.2.3. Insulin Pumps
    - 9.1.1.2.4. Others
- 9.1.2. BPS Analysis/Market Attractiveness Analysis
9.2. Rest of the World Smart Medical Devices Market Outlook, by Application, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Oncology
  - 9.2.1.2. Autoimmune Disorders
  - 9.2.1.3. Diabetes
  - 9.2.1.4. Sleep Disorders
  - 9.2.1.5. Sports & Fitness
  - 9.2.1.6. Others
- 9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Rest of the World Smart Medical Devices Market Outlook, by Modality, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Wearable
  - 9.3.1.2. Non Wearable
- 9.3.2. BPS Analysis/Market Attractiveness Analysis
9.4. Rest of the World Smart Medical Devices Market Outlook, by Tube Type, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 9.4.1. Key Highlights
  - 9.4.1.1. Home Care Settings
  - 9.4.1.2. Hospitals & Clinics
  - 9.4.1.3. Sports & Fitness Centers
  - 9.4.1.4. Others
- 9.4.2. BPS Analysis/Market Attractiveness Analysis
9.5. Rest of the World Smart Medical Devices Market Outlook, by Country, Value (US$ Mn) and Volume (Units), 2018 - 2030
- 9.5.1. Key Highlights
  - 9.5.1.1. Latin America
  - 9.5.1.2. Middle East & Africa
- 9.5.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape

10.1. Company Market Share Analysis
10.2. Company Profiles
- 10.2.1. Apple, Inc.
  - 10.2.1.1. Company Overview
  - 10.2.1.2. Financial Overview
  - 10.2.1.3. Product Portfolio
  - 10.2.1.4. Recent Developments
- 10.2.2. Abbott Laboratories
- 10.2.3. Smart Medical Devices, Inc.
- 10.2.4. Fitbit, Inc.
- 10.2.5. Dexcom, Inc.
- 10.2.6. NeuroMetrix, Inc.
- 10.2.7. Medtronic plc
- 10.2.8. Johnson & Johnson
- 10.2.9. Insulet Corporation
- 10.2.10. Omron Corporation
- 10.2.11. Others

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations