PUBLISHER: IMARC | PRODUCT CODE: 1291346
PUBLISHER: IMARC | PRODUCT CODE: 1291346
Smart Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global smart medical devices market size reached US$ 40.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 62.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.39% during 2023-2028.
Smart medical devices are wireless electronic instruments intended to monitor patients' health by collecting and communicating real-time updates. Insulin pumps, heart rate monitors, pulse oximeters, portable oxygen concentrators and blood pressure monitors are some of the commonly used smart medical devices. These devices are usually operated on a wireless network like wi-fi, Bluetooth, and various technologies and are widely used to monitor, analyze and transmit patient's critical data. Smart medical devices provide a high level of mobility, ability to monitor patient status remotely. They also assist in reducing workload, saving time, increasing patient engagement and control, reducing errors, improving communication, and enhancing safety. As a result, smart medical devices are widely used in hospitals, clinics and home care settings.
Smart Medical Devices Market Trends:
Significant growth in the healthcare industry across the globe is one of the key factors creating a positive outlook of the market. The increasing prevalence of chronic medical ailments, such as asthma, diabetes, blood pressure and chronic obstructive pulmonary disease (COPD), has facilitated the usage of these devices across various healthcare settings. Additionally, the widespread adoption of smart wearable medical devices due to the rising health consciousness among the masses is favoring the market growth. Moreover, various technological advancements, such as the integration of artificial intelligence (AI), Internet of Things (IoT) and machine-to-machine technology, are providing a thrust to market growth. These technologies offer greater precision, ensure accurate storing and monitoring of patient information, and enhance the overall user experience. In line with this, the increasing product demand in home care settings due to the sudden outbreak of coronavirus disease (COVID-19) for disease management, monitoring, providing feedback and suggesting adequate treatment is positively impacting the market growth. Other factors, including rising expenditure capacity of consumers, rising geriatric population, along with the implementation of various government initiatives to spread awareness about disease prevention, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart medical devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, distribution channel, application and end user.
Breakup by Product Type:
Diagnostic and Monitoring
Blood Glucose Monitors
Heart Rate Monitors
Pulse Oximeters
Blood Pressure Monitors
Breath Analyzer
Other Diagnostic Monitoring Products
Therapeutic Devices
Portable Oxygen Concentrators and Ventilators
Insulin Pumps
Hearing Aid
Other Therapeutic Devices
Breakup by Distribution Channel:
Pharmacies
Online
Others
Breakup by Application:
Oncology
Diabetes
Auto-Immune Disorders
Infectious Diseases
Others
Breakup by End User:
Hospitals and Clinics
Home-Care Setting
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Activinsights Ltd, Apple Inc., Debiotech SA, Enable Injections, Fitbit LLC (Google LLC), Koninklijke Philips N.V., Medtronic PLC, NeuroMetrix Inc., Omron Healthcare Co Ltd (Omron Corporation), Sonova Holding AG, Sotera Wireless Inc. and VitalConnect.
Key Questions Answered in This Report
1. What was the size of the global smart medical devices market in 2022?
2. What is the expected growth rate of the global smart medical devices market during 2023-2028?
3. What are the key factors driving the global smart medical devices market?
4. What has been the impact of COVID-19 on the global smart medical devices market?
5. What is the breakup of the global smart medical devices market based on the product type?
6. What is the breakup of the global smart medical devices market based on the distribution channel?
7. What are the key regions in the global smart medical devices market?
8. Who are the key players/companies in the global smart medical devices market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Smart Medical Devices Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 Diagnostic and Monitoring
- 6.1.1 Market Trends
- 6.1.2 Key Segments
- 6.1.2.1 Blood Glucose Monitors
- 6.1.2.2 Heart Rate Monitors
- 6.1.2.3 Pulse Oximeters
- 6.1.2.4 Blood Pressure Monitors
- 6.1.2.5 Breath Analyzer
- 6.1.2.6 Other Diagnostic Monitoring Products
- 6.1.3 Market Forecast
- 6.2 Therapeutic Devices
- 6.2.1 Market Trends
- 6.2.2 Key Segments
- 6.2.2.1 Portable Oxygen Concentrators and Ventilators
- 6.2.2.2 Insulin Pumps
- 6.2.2.3 Hearing Aid
- 6.2.2.4 Other Therapeutic Devices
- 6.2.3 Market Forecast
7 Market Breakup by Distribution Channel
- 7.1 Pharmacies
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Online
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Others
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Application
- 8.1 Oncology
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Diabetes
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Auto-Immune Disorders
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Infectious Diseases
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by End User
- 9.1 Hospitals and Clinics
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Home-Care Setting
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Others
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Abbott Laboratories
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Activinsights Ltd
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Apple Inc.
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 Debiotech SA
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Enable Injections
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Fitbit LLC (Google LLC)
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Koninklijke Philips N.V.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Medtronic PLC
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 NeuroMetrix Inc.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.10 Omron Healthcare Co Ltd (Omron Corporation)
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 SWOT Analysis
- 15.3.11 Sonova Holding AG
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.12 Sotera Wireless Inc.
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 VitalConnect
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.1 Abbott Laboratories
List of Figures
- Figure 1: Global: Smart Medical Devices Market: Major Drivers and Challenges
- Figure 2: Global: Smart Medical Devices Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Smart Medical Devices Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Smart Medical Devices Market: Breakup by Product Type (in %), 2022
- Figure 5: Global: Smart Medical Devices Market: Breakup by Distribution Channel (in %), 2022
- Figure 6: Global: Smart Medical Devices Market: Breakup by Application (in %), 2022
- Figure 7: Global: Smart Medical Devices Market: Breakup by End User (in %), 2022
- Figure 8: Global: Smart Medical Devices Market: Breakup by Region (in %), 2022
- Figure 9: Global: Smart Medical Devices (Diagnostic and Monitoring) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Smart Medical Devices (Diagnostic and Monitoring) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Smart Medical Devices (Therapeutic Devices) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Smart Medical Devices (Therapeutic Devices) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Smart Medical Devices (Pharmacies) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Smart Medical Devices (Pharmacies) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Smart Medical Devices (Online) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Smart Medical Devices (Online) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Smart Medical Devices (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Smart Medical Devices (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Smart Medical Devices (Oncology) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Smart Medical Devices (Oncology) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Smart Medical Devices (Diabetes) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Smart Medical Devices (Diabetes) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Smart Medical Devices (Auto-Immune Disorders) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Smart Medical Devices (Auto-Immune Disorders) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Smart Medical Devices (Infectious Diseases) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Smart Medical Devices (Infectious Diseases) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Smart Medical Devices (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Smart Medical Devices (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Smart Medical Devices (Hospitals and Clinics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Smart Medical Devices (Hospitals and Clinics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Smart Medical Devices (Home-Care Setting) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Smart Medical Devices (Home-Care Setting) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Smart Medical Devices (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Smart Medical Devices (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: North America: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: North America: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: United States: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: United States: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Canada: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Canada: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Asia-Pacific: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Asia-Pacific: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: China: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: China: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Japan: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Japan: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: India: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: India: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: South Korea: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: South Korea: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Australia: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Australia: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Indonesia: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Indonesia: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Others: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Others: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Europe: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Europe: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Germany: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Germany: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: France: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: France: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: United Kingdom: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: United Kingdom: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Italy: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Italy: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Spain: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Spain: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Russia: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Russia: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Others: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Others: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Latin America: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Latin America: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Brazil: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Brazil: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Mexico: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Mexico: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Others: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Others: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Middle East and Africa: Smart Medical Devices Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Middle East and Africa: Smart Medical Devices Market: Breakup by Country (in %), 2022
- Figure 83: Middle East and Africa: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 84: Global: Smart Medical Devices Industry: SWOT Analysis
- Figure 85: Global: Smart Medical Devices Industry: Value Chain Analysis
- Figure 86: Global: Smart Medical Devices Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Smart Medical Devices Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Smart Medical Devices Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
- Table 3: Global: Smart Medical Devices Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
- Table 4: Global: Smart Medical Devices Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Smart Medical Devices Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 6: Global: Smart Medical Devices Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Smart Medical Devices Market: Competitive Structure
- Table 8: Global: Smart Medical Devices Market: Key Players
