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Smart Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smart medical devices market reached a value of US$ 36.92 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 58.58 Billion by 2027 exhibiting a growth rate (CAGR) of 7.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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, along with forecasts at the global, regional and country level from 2022-2027. 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:

 

 
 

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  • Oncology
  • Diabetes
  • Auto-Immune Disorders
  • Infectious Diseases
  • Others
     

Breakup by End User:

  • Hospitals and Clinics
  • Home-Care Setting
  • Others
     

Breakup by Region:

 

 
 

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  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product Type, Distribution Channel, Application, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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$), 2016-2021
Figure 3: Global: Smart Medical Devices Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Medical Devices Market: Breakup by Product Type (in %), 2021
Figure 5: Global: Smart Medical Devices Market: Breakup by Distribution Channel (in %), 2021
Figure 6: Global: Smart Medical Devices Market: Breakup by Application (in %), 2021
Figure 7: Global: Smart Medical Devices Market: Breakup by End User (in %), 2021
Figure 8: Global: Smart Medical Devices Market: Breakup by Region (in %), 2021
Figure 9: Global: Smart Medical Devices (Diagnostic and Monitoring) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Smart Medical Devices (Diagnostic and Monitoring) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Smart Medical Devices (Therapeutic Devices) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Smart Medical Devices (Therapeutic Devices) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Smart Medical Devices (Pharmacies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Smart Medical Devices (Pharmacies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Smart Medical Devices (Online) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Smart Medical Devices (Online) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Smart Medical Devices (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Smart Medical Devices (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Smart Medical Devices (Oncology) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Smart Medical Devices (Oncology) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Smart Medical Devices (Diabetes) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Smart Medical Devices (Diabetes) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Smart Medical Devices (Auto-Immune Disorders) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Smart Medical Devices (Auto-Immune Disorders) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Smart Medical Devices (Infectious Diseases) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Smart Medical Devices (Infectious Diseases) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Smart Medical Devices (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Smart Medical Devices (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Smart Medical Devices (Hospitals and Clinics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Smart Medical Devices (Hospitals and Clinics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Smart Medical Devices (Home-Care Setting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Smart Medical Devices (Home-Care Setting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Smart Medical Devices (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Smart Medical Devices (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: North America: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: North America: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: United States: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: United States: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Canada: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Canada: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Asia-Pacific: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Asia-Pacific: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: China: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: China: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Japan: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Japan: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: India: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: India: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: South Korea: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: South Korea: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Australia: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Australia: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Indonesia: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Indonesia: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Others: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Others: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Europe: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Europe: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Germany: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Germany: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: France: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: France: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: United Kingdom: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: United Kingdom: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Italy: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Italy: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Spain: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Spain: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Russia: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Russia: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Others: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Others: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Latin America: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Latin America: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Brazil: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Brazil: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Mexico: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Mexico: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Others: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Others: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Middle East and Africa: Smart Medical Devices Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Middle East and Africa: Smart Medical Devices Market: Breakup by Country (in %), 2021
Figure 83: Middle East and Africa: Smart Medical Devices Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Smart Medical Devices Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Smart Medical Devices Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 4: Global: Smart Medical Devices Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Smart Medical Devices Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Smart Medical Devices Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Smart Medical Devices Market: Competitive Structure
Table 8: Global: Smart Medical Devices Market: Key Players


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Key Questions Answered in This Report

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
market share.

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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