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The global smart medical devices market was valued at US$ 36.92 Billion in 2021.
We expect the global smart medical devices market to exhibit a CAGR of 7.50% during 2022-2027.
The growing integration of AI and IoT solutions to offer greater precision, ensure accurate storing
and monitoring of patient information, and enhance the overall user experience is primarily driving
the global smart medical devices market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of smart medical
devices in home care settings for disease management, monitoring, and suggesting adequate
treatment to COVID-19-infected patients.
Based on the product type, the global smart medical devices market has been segmented into
diagnostic and monitoring and therapeutic devices. Currently, diagnostic and monitoring smart
medical devices represent the largest market share.
Based on the distribution channel, the global smart medical devices market can be bifurcated into
pharmacies, online, and others. Among these, online channel accounts for the majority of the total
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle
East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global smart medical devices market include 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.
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