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Smart Medical Devices: Global Markets 2021-2026

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    Report

  • 104 Pages
  • June 2022
  • Region: Global
  • BCC Research
  • ID: 5603881
The global market for smart medical devices reached $56.4 billion in 2021 and should reach more than $122.8 billion in 2026, with a compound annual growth rate (CAGR) of 16.8% during the forecast period of 2021-2026.



The implantable medical devices segment of the global smart medical devices market reached $32.1 billion in 2021 and should reach more than $69.7 billion in 2026 with a (CAGR) of 16.8% during the forecast period of 2021-2026.

The wearable medical devices segment of the global smart medical devices market reached $13.9 billion in 2021 and should reach more than $35.2 billion in 2026 with a (CAGR) of 20.3% during the forecast period of 2021-2026.


Report Scope

This report will provide detailed exposure to the smart medical devices market, analyzing the market trends with data from 2020, estimates from 2021, projections of compound annual growth rates through 2026 (forecast period 2021-2026), and regional markets. The report highlights smart medical devices’ current and future market potential and offers a detailed analysis of the competitive environment, covering regulatory scenarios, drivers, restraints, and opportunities. The report also covers market projections for 2026 and market share for key market players.

The market has been segmented based on product type, application, and geography. Based on product type, the market in this report is segmented into wearable, non-wearable, and implantable medical devices. The applications of smart medical devices considered in this report include cardiovascular, diabetes, neurology, sleep disorders, and others.

The regional market analysis of smart medical devices is also covered in this report. The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, and the Rest of the World (RoW) regions. Detailed analysis of major countries such as the U.S., Germany, the U.K., Italy, France, Japan, China, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2020 because of the base year, with estimates for 2021 and forecast value for 2026.

*Note: The report’s scope includes smart devices that are medically accepted and approved in the market and excludes smart trackers such as smart watches, wristband sensors, eye-wearing smart glasses, smart belts, earrings, earphones, headphones, gloves, shoes, baseball caps, bras, arm bands, scarfs, and many others.

The Report Includes

  • 14 data tables and 14 additional tables
  • An updated overview of the global market for smart medical devices within the industry
  • Analyses of the global market trends, with historic market revenue (sales data) for 2019-2021, and projections of compound annual growth rates (CAGRs) through 2026
  • Highlights of the current and future market potential for smart medical devices, and areas of focus to forecast this market into various segments and sub-segments
  • Evaluation and forecast the global market size for smart medical devices, projected growth trends, and corresponding market share analysis by product type, application, and geographic region
  • Technology Assessment of the key drivers, restraints and opportunities that will shape the market over the next five years (2021 to 2026)
  • Analysis of market opportunities with detailed Porter’s five forces analysis for the smart medical devices market
  • In-depth information on increasing investments on R&D activities, key technology issues, industry-specific challenges, major types of end-user markets, and COVID-19 implications on the progress of this market
  • Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
  • Company profiles of major players, including Abbott, Boston Scientific Corp., F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Medtronic, Novo Nordisk

Table of Contents

Chapter 1 Introduction
  • Study Goals and Objectives
  • Reasons for Doing This Study
  • Scope of Report
  • Information Sources
  • Methodology
  • Geographic Breakdown
  • Analyst's Credentials
  • Custom Research
  • Related Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Dynamics
  • Market Drivers
  • Wide Range of Potential Applications of Smart Medical Devices
  • Rising Prevalence of Chronic Disorders Globally
  • Increasing Adoption of Smart Medical Device Technologies
  • Development of IoT Technologies in Healthcare
  • Market Restraints
  • Limitations Associated with Smart Medical Devices
  • Product Recall
  • Growing Vulnerability of Devices and Data Security
  • Market Opportunities
  • Inorganic Strategies Amongst Market Players
  • Novel Product Launches
  • Increasing Government Investment in Healthcare Sectors
Chapter 4 Market Overview
  • Regulatory Landscape
  • U.S.
  • Europe
  • Asia-Pacific
  • Market Insights
  • IoT in the Smart Healthcare
  • Technologies
  • Future Perspective
Chapter 5 Impact of Covid-19 on Market
  • Overview
  • COVID-19 Crisis
  • Impact on Market for Smart Medical Devices
  • COVID-19 Measures
  • Current Outlook
Chapter 6 Market Breakdown by Product Type
  • Implantable Smart Medical Devices
  • Non-Wearable Smart Medical Devices
  • Wearable Smart Medical Devices
Chapter 7 Market Breakdown by Application
  • Cardiovascular Diseases
  • Diabetes
  • Neurology
  • Sleep Disorders
  • Others
Chapter 8 Market Breakdown by Region
  • Overview
  • North America
  • Europe
  • Asia-Pacific
  • Rest of World
Chapter 9 Analysis of Market Opportunities
  • Porter's Analysis
  • Threat of New Entrants
  • Threat of Substitutes
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • Competitive Rivalry/Degree of Competition
Chapter 10 Competitive Landscape
  • Company Share Analysis
Chapter 11 Company Profiles
  • Major Companies
  • Abbott
  • Biotronik
  • Boston Scientific Corp.
  • F. Hoffmann-La Roche Ltd.
  • Koninklijke Philips N.V.
  • Livanova Plc
  • Medtronic, Inc.
  • Novo Nordisk A/S
  • Omron Corp.
  • Ypsomed Holding Ag
  • Emerging Companies
  • Biotricity
  • Connectedhealth Pte. Ltd.
  • Debiotech Sa
  • Health Care Originals
  • Ihealth
  • Insulet Corp.
  • Nemaura Medical Inc.
  • Neofect Co., Ltd.
  • Neurometrix, Inc.
  • Omada Health Inc.
  • Philosys
  • Preventice Solutions, Inc.
  • Qardio
  • Sense4Care
  • Sonova
  • Vital Connect
Chapter 12 Appendix: Abbreviations and Acronyms
List of Tables
Summary Table: Global Market for Smart Medical Devices, by Product Type, Through 2026
Table 1: Global Diabetes Prevalence, Estimates and Projections, 2019-2045
Table 2: Class I and II Exempt Devices
Table 3: Global Market for Implantable Smart Medical Devices, by Region, Through 2026
Table 4: Global Market for Non-Wearable Smart Medical Devices, by Region, Through 2026
Table 5: Global Market for Wearable Smart Medical Devices, by Region, Through 2026
Table 6: Global Market for Smart Medical Devices for Cardiovascular Diseases Treatment, by Region, Through 2026
Table 7: Global Market for Smart Medical Devices for Diabetes Treatment, by Region, Through 2026
Table 8: Global Market for Smart Medical Devices for Neurological Disorders Treatment, by Region, Through 2026
Table 9: Global Market for Smart Medical Devices for Sleep Disorders Treatment, by Region, Through 2026
Table 10: Global Market for Smart Medical Devices for Other Chronic Disease Treatment, by Region, Through 2026
Table 11: Global Market for Smart Medical Devices, by Region, Through 2026
Table 12: North American Market for Smart Medical Devices, by Country, Through 2026
Table 13: European Market for Smart Medical Devices, by Country, Through 2026
Table 14: Asia-Pacific Market for Smart Medical Devices, by Country, Through 2026
Table 15: Diabetic Prevalence in the Rest of the World, by Sub-Region, 2019-2045
Table 16: Rest of the World Market for Smart Medical Devices, by Sub-Region, Through 2026
Table 17: Porter's Five Forces Analysis
Table 18: Market Players and Offered Products for Various Applications
Table 19: Abbott: Key Developments
Table 20: Biotronik: Product Portfolio
Table 21: Boston Scientific Corp.: Product Portfolio
Table 22: Boston Scientific Corp.: Key Developments
Table 23: F. Hoffmann-La Roche Ltd.: Key Developments
Table 24: LivaNova PLC: Key Development
Table 25: Medtronic: Key Developments
Table 26: Omron Corp.: Key Development
Table 27: Abbreviations and Acronyms
List of Figures
Summary Figure: Global Market Shares of Smart Medical Devices, by Product Type, 2020
Figure 1: Technical and Market Challenges
Figure 2: Privacy Challenges
Figure 3: Regulatory and Legal Aspects of Market Access of Smart Devices
Figure 4: Medical Device Marketing Process in the U.S.
Figure 5: Classification of Smart Healthcare
Figure 6: IoT in Smart Healthcare
Figure 7: Wireless Technologies in Smart Healthcare
Figure 8: Global Market for Implantable Smart Medical Devices, 2020-2026
Figure 9: Global Market for Non-Wearable Smart Medical Devices, 2020-2026
Figure 10: Global Market for Wearable Smart Medical Devices, 2020-2026
Figure 11: Global Market for Smart Medical Devices for Cardiovascular Diseases Treatment, 2020-2026
Figure 12: Global Market for Smart Medical Devices for Diabetes Treatment, 2020-2026
Figure 13: Global Market for Smart Medical Devices for Neurological Disorders Treatment, 2020-2026
Figure 14: Global Market for Smart Medical Devices for Sleep Disorders Treatment, 2020-2026
Figure 15: Global Market for Smart Medical Devices for Other Chronic Disease Treatment, 2020-2026
Figure 16: Global Market Shares of Smart Medical Devices, by Region, 2020
Figure 17: North American Market for Smart Medical Devices, by Country, 2020-2026
Figure 18: European Market for Smart Medical Devices, by Country, 2020-2026
Figure 19: European Market Shares of Smart Medical Devices, by Country, 2020
Figure 20: Asia-Pacific Market for Smart Medical Devices, by Country, 2020-2026
Figure 21: Asia-Pacific Market Shares of Smart Medical Devices, by Country, 2020
Figure 22: Rest of the World Market for Smart Medical Devices, by Sub-Region, 2020-2026
Figure 23: Rest of the World Market Shares of Smart Medical Devices, by Sub-Region, 2020
Figure 24: Global Market Shares of Smart Medical Devices, by Company, 2020
Figure 25: Abbott: Annual Revenue, 2018-2020
Figure 26: Abbott: Revenue Share, by Business Segment, 2020
Figure 27: Boston Scientific Corp.: Annual Revenue, 2018-2020
Figure 28: Boston Scientific Corp.: Revenue Share, by Business Segment, 2020
Figure 29: F. Hoffmann-La Roche Ltd.: Annual Revenue, 2018-2020
Figure 30: F. Hoffmann-La Roche Ltd.: Revenue Share, by Division, 2020
Figure 31: Koninklijke Philips N.V.: Annual Revenue, 2018-2019
Figure 32: Koninklijke Philips N.V.: Revenue Share, by Business Segment, 2020
Figure 33: LivaNova PLC: Annual Revenue, 2018-2020
Figure 34: LivaNova PLC: Revenue Share, by Business Unit, 2020
Figure 35: Medtronic: Annual Revenue, 2018-2020
Figure 36: Medtronic: Revenue Share, by Business Segment, 2020
Figure 37: Novo Nordisk: Annual Revenue, 2018-2020
Figure 38: Novo Nordisk: Revenue Share, by Business Segment, 2020
Figure 39: Omron Corp.: Annual Revenue, 2018-2020
Figure 40: Omron Corp.: Revenue Share, by Business Unit, 2020
Figure 41: Ypsomed Holding AG: Annual Revenue, 2018-2020
Figure 42: Ypsomed Holding AG: Revenue Share, by Business Unit, 2020

Executive Summary

The growth of the global market is attributed to factors such as advancements in innovation and technologies, an increasing number of chronic diseases, and product launches of novel smart medical devices.

Smart medical devices are abbreviated as Self-Directed, Motivated, Adaptive, Resource-Enriched, and Technologies-Embedded (SMART). These IoT-based devices are embedded with sensors that collect and analyze data and transmit it to the patient or physician via a connected network using various modes of technology, such as Bluetooth, WiFi, and others.

The global market for smart medical devices is segmented based on product type, application, and region.

Companies Mentioned

  • Abbott
  • Biotricity
  • Biotronik
  • Boston Scientific Corp.
  • Connectedhealth Pte. Ltd.
  • Debiotech Sa
  • Emerging Companies
  • F. Hoffmann-La Roche Ltd.
  • Health Care Originals
  • ihealth
  • Insulet Corp.
  • Koninklijke Philips N.V.
  • Livanova Plc
  • Medtronic, Inc.
  • Nemaura Medical Inc.
  • Neofect Co., Ltd.
  • Neurometrix, Inc.
  • Novo Nordisk A/S
  • Omada Health Inc.
  • Omron Corp.
  • Philosys
  • Preventice Solutions, Inc.
  • Qardio
  • Sense4Care
  • Sonova
  • Vital Connect
  • Ypsomed Holding Ag

Table Information