BANGALORE, India, Jan. 6, 2023 /PRNewswire/ — The Global Smart Medical Devices Market is Segmented by Type (Blood Glucose Monitors, Heart Rate Monitors, Pulse Oximeters, Blood Pressure Monitors, Breath Analyzer, Medical Tricorder, Smart Clothing, Hearing Aid), by Application (Hospitals, Clinics, Homecare): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Medical Devices & Equipment Category.
Due to the COVID-19 pandemic, the global Smart Medical Devices market size is estimated to be worth USD 12120 Million in 2022 and is forecast to a readjusted size of USD 34760 Million by 2028 with a CAGR of 19.2{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the review period.
Major factors driving the growth of the Smart Medical Devices Market:
Increased government funding for product research, an increase in the number of people with diabetes, and rising healthcare costs are the main factors driving the expansion of the global market for medical devices.
Furthermore, it is anticipated that the growth of new technologies and intelligent wearables in emerging economies would create attractive chances for market expansion.
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TRENDS INFLUENCING THE GROWTH OF SMART MEDICAL DEVICES MARKET
Chronic problems are becoming more and more common. Additionally, a number of lifestyle changes may be connected to this development. One of them is having bad habits like not exercising enough, eating improperly, smoking, drinking, and other vices. Additionally, a number of health issues are influenced by markedly high-stress levels. Additionally, despite having a modern healthcare system and favorable payment policies, the United States has a very high prevalence of chronic illnesses. Another factor propelling the global market for smart medical devices is the growing fitness trend. As more people participate in physical activity for health reasons, such as jogging and playing sports, which promotes the use of medical equipment, the need for smart medical devices rises. This factor is expected to drive the growth of the Smart Medical Devices market.
Observing and assessing health data Smart offers a standard for comprehending and spotting any potential health problems. Measurement, tracking, and easy-to-understand presentation of health data are all made possible by personal medical devices. Heart rate monitors are one example of patient monitoring equipment. Heart rate monitors Blood pressure gauges the breathalyzer Smart Clothing and Medical Tricorders are useful for gathering data required for important decisions. Making the right choice at the appropriate moment can frequently increase the likelihood of a successful health outcome. This factor is expected to drive the growth of the Smart Medical Devices market.
It is frequently expensive to design, maintain, and fully implement high-quality healthcare systems. Utilizing all of the moving pieces of diagnoses, therapy, and patient monitoring successfully is difficult and frequently depends on exact timing and well-informed response. Medical practitioners may quickly and easily examine a patient’s current health status in real-time thanks to health monitoring gadgets, enabling them to make the right choice when it counts. But when these tools are put in the patient’s hands and utilized regularly every day, they show their greatest value. This factor is expected to drive the growth of the Smart Medical Devices market.
Due to the growing popularity of smartphones and the demand for wearable and medical devices that work with smartphones, the market is growing. Because of the cutting-edge methods already in use, the Smart Medical Devices market is growing on a global scale.
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SMART MEDICAL DEVICES MARKET SHARE
The smart medical device market in North America is expanding at the quickest rate and will continue to do so through 2027 as a result of the region’s strong healthcare sector and rising acceptance of cutting-edge technologies.
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Key Companies:
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SIMILAR REPORTS:
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Medical Tricorder market size is estimated to be worth USD 2479.6 million in 2021 and is forecast to a readjusted size of USD 3318.7 million by 2028 with a CAGR of 3.8{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period 2022-2028.
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Smart Clothing market size was USD 1582 million and it is expected to reach USD 8570.9 million by the end of 2027, with a CAGR of 26.0{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2021-2027.
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Hearing Aid market size is estimated to be worth USD 9228.9 million in 2022 and is forecast to a readjusted size of USD 12940 million by 2028 with a CAGR of 5.8{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the review period.
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Nanomedical Devices market size is projected to reach USD 2861.7 million by 2028, from USD 1758.2 million in 2021, at a CAGR of 6.7{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2022-2028.
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Medical Device Outsourcing market size is estimated to be valued at USD 74220 Million in 2021 and projected to reach USD 142960 Million by 2028, recording a CAGR of 9.7{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c}.
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Disposable Medical Devices Sensors Market is estimated at USD 4543.9 million in the year 2022, is projected to reach a revised size of USD 6387.4 million by 2028, growing at a CAGR of 5.8{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period 2022-2028.
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Implantable Medical Devices market size is estimated to be worth USD 13740 million in 2021 and is forecast to a readjusted size of USD 23330 million by 2028 with a CAGR of 7.4{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period 2022-2028.
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Nitinol-based Medical Device market was valued at USD 18600 million in 2020 and is expected to reach USD 36190 million by the end of 2027, growing at a Compound Annual Growth Rate (CAGR) of 10.2{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2021-2027.
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Pediatric Medical Device market size is estimated to be worth USD 19890 million in 2021 and is forecast to a readjusted size of USD 27950 million by 2028 with a CAGR of 4.5{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period 2022-2028.
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Medical Equipment Maintenance Market will grow from USD 34.79 Billion in 2020 to USD 60.16 Billion by 2026, with a CAGR of 9.56{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period.
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Enteral feeding devices market size was valued at USD 2828.52 million in 2019 and is projected to reach USD 4426.54 million by 2027 at a Compound Annual Growth Rate (CAGR) of 5.5{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} from 2020 to 2027.
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Cleanroom consumables market was valued at USD 3688.38 million in 2020, and it is anticipated to reach USD 6658.35 million by 2030, registering a CAGR of about 5.40{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period (2021 to 2030).
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Wearable patch market was valued at USD 12,239.7 million in 2019, and is projected to reach USD 27,820.5 million by 2027, registering a CAGR of 9.6{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} from 2020 to 2027.
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Hospital Furniture market size is projected to reach USD 8538.8 million by 2027, from USD 6355.6 million in 2020, at a CAGR of 4.3{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2021-2027.
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CT Scanner market size is projected to reach USD 11390 Million by 2027, from USD 9000.1 Million in 2020, at a CAGR of 4.0{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2021-2027.
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Face Shield Market is expected to grow at the rate of 6.6{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} CAGR by 2027.
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Disposable Medical Supplies market size is projected to reach USD 314410 Million by 2028, from USD 224050 Million in 2021, at a CAGR of 4.9{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2022-2028.
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Medical Supplies market size is projected to reach USD 329030 million by 2028, from USD 202430 million in 2021, at a CAGR of 7.1{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2022-2028.
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Digital therapeutics market size was valued at USD 2.88 Billion in 2019 and is expected to reach USD 13.80 Billion by 2027 with a CAGR of 20.5{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during the forecast period.
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Digital polymerase chain reaction (PCR) Market generated USD 508.8 million in 2020 and is projected to reach USD 1,139.9 million by 2028, growing at a CAGR of 9.1{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} from 2021 to 2028.
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Digital Healthcare market size is projected to reach USD 95430 Million by 2026, from USD 77240 Million in 2020, at a CAGR of 22.4{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2021-2026.
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Home Health Care market size is projected to reach USD 124230 Million by 2028, from USD 69120 Million in 2021, at a CAGR of 8.6{33c86113bcc32821f63c6372852a0f501e07fff55ce3ce61b15b246c5f8c531c} during 2022-2028.
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