Smart Healthcare Devices Market - Forecasts from 2025 to 2030

The smart healthcare devices market is expected to grow from USD 82.918 billion in 2025 to USD 146.494 billion in 2030, at a CAGR of 12.06%.

Introduction

Smart healthcare leverages electronics and the Internet of Things (IoT) to enhance disease diagnosis, improve patient treatment, and elevate quality of life. By providing real-time health data, smart healthcare devices support chronic disease management, remote patient monitoring, preventive care, home-based care, and short-term care before or after hospital treatment. The market for these devices is experiencing robust growth, driven by heightened consumer health awareness, increased adoption of cloud storage technologies, and widespread connectivity through gateways like Bluetooth and WiFi. Technological advancements further propel market demand, positioning smart healthcare as a transformative force in the global healthcare industry.

Market Drivers

Strategic Investments and Collaborations

The smart healthcare devices market is expanding due to growing strategic investments and the integration of smart technologies across end-user applications. Collaborations and acquisitions play a pivotal role in market development, fostering expansion and revenue growth. These partnerships enable companies to enhance their market presence and introduce innovative solutions tailored to consumer needs.

Increased Emphasis on Research and Development

Companies are significantly increasing investments in research and development (R&D) to create innovative, high-efficiency smart healthcare products. Hospitals and other end users are adopting these advanced technologies, positively impacting market growth. For instance, in August 2022, Dozee, an Indian connected health device developer, partnered with Midmark India, South Asia's largest hospital bed supplier, to launch a connected bed platform for non-ICU settings. This platform integrates with hospital management information systems (HMIS) and central command centers, offering AI-powered remote patient monitoring (RPM) with a claimed clinical-grade efficiency of 98.4%. Similarly, in March 2022, Intuitive Medical Buildings (Intuitive MB) introduced a medical building operating system utilizing IoT, Artificial Intelligence (AI), and Machine Learning. This system transforms medical facilities into "smart" environments in approximately four weeks, leveraging software already implemented in commercial real estate and healthcare settings across various countries. These initiatives underscore the role of R&D in driving the market forward.

Rapid Growth in Chronic Diseases and Health Awareness

The rising prevalence of chronic diseases, coupled with increasing health consciousness, is a significant driver of the smart healthcare devices market. According to the World Health Organization (WHO), diabetes is projected to affect 10% of the global population aged 20 to 79 by 2045. Noncommunicable diseases (NCDs), including heart disease, cancer, stroke, diabetes, and chronic lung disease, account for 74% of global deaths, with 86% of the 17 million premature NCD deaths (before age 70) occurring in low- and middle-income countries. This surge in chronic conditions, such as diabetes, asthma, and heart disease, has heightened demand for smart medical devices designed for continuous monitoring and management. For example, in July 2022, Xplore Lifestyle, a Pune-based health monitoring service company, launched a wristwatch for continuous heart health monitoring in collaboration with Israel-based CardiacSense. Billed as the world's first healthcare continuous monitoring device in watch form, this innovation caters to the growing consumer demand for accessible health tracking solutions. Additionally, heightened health awareness has led consumers to adopt healthier lifestyles, engaging in activities like jogging and sports, further driving demand for smart devices that support fitness and wellness tracking.

Market Outlook

The smart healthcare devices market is poised for continued growth, fueled by technological advancements, strategic partnerships, and the increasing burden of chronic diseases. The integration of IoT, AI, and Machine Learning into healthcare solutions is enabling more efficient and personalized care delivery, particularly in remote and home-based settings. As consumers prioritize health and wellness, and as healthcare providers adopt smart technologies, the market is expected to expand significantly. Investments in R&D and collaborations will continue to drive innovation, ensuring that smart healthcare devices meet evolving consumer and industry needs. The focus on chronic disease management and preventive care will further solidify the role of smart healthcare in transforming global healthcare delivery.

Key Benefits of this Report:

• Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
• Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
• Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
• Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
• Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

• Historical data from 2022 to 2024 & forecast data from 2025 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries

Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.

Segmentation:

By Application

• Diagnostic and Monitoring
• Injury Prevention and Rehabilitation
• Therapeutic

By End-User

• Homecare
• Hospitals and Clinics
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• United Kingdom
• Spain
• France
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Thailand
• Taiwan
• Others