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Smart Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 142 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820882
Description Jump to:
The global smart medical devices market size reached US$ 40.1 Billion in 2022. Looking forward, the publisher 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:

The publisher 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
10.2 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
10.3 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
10.4 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
10.5 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
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

Companies Mentioned

  • 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.

Methodology

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Table Information

Report AttributeDetails
No. of Pages142
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 40.1 Billion
Forecasted Market Value ( USD ) by 2028 $ 62.8 Billion
Compound Annual Growth Rate7.8%
Regions CoveredGlobal
No. of Companies Mentioned12

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