At CAGR of 10.9%, Global Smart Medical Devices Market Size & Share 2022 – 2028 | Projected to Surpass at USD 47.8 Billion: Smart Medical Devices Industry Trends, Demand, Value, Analysis & Forecast Report by Zion Market Research – PR Newswire

NEW YORK, May 18, 2022 /PRNewswire/ —  As per Zion Market Research study, The Smart Medical Devices Market was worth around USD 25.7 billion in 2021 and is estimated to grow to about USD 47.8 billion by 2028, with a compound annual growth rate (CAGR) of approximately 10.9 percent over the forecast period. The report analyzes the Smart Medical Devices Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Smart Medical Devices Market.

Key Industry Insights & Finding of the Smart Medical Devices Market Reports:

  • As per the analysis shared by our research analyst, the Smart Medical Devices Market is expected to grow annually at a CAGR of around 10.9 % (2022-2028).
  • Through the primary research, it was established that the Smart Medical Devices Market was valued approximately USD 25.7 Billion in 2021 and is projected to reach to roughly USD 47.8 Billion by 2028.
  • North America is likely to lead the market because of the widespread adoption of modern technologies and the presence of a well-developed healthcare industry.
  • In North America region the healthcare system has profited tremendously from improving economic conditions, higher per capita income, and higher living standards.
  • New opportunities will also emerge in Asia Pacific (APAC) for firms to capitalise on, as a result of a variety of variables such as an increase in disposable income and an increase in healthcare awareness levels

Zion Market Research published the latest report titled as  “Smart Medical Devices Market By Type (Diagnostic and Monitoring Devices and Therapeutic Devices). By Application (Cardiovascular, Neurology, Respiratory, and Others). By End-User (Hospitals and Clinics, Ambulatory Care Centers, and Home Care Settings), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” into their research database.

Smart Medical Devices Market: Overview

A smart medical device is medical equipment that can function independently and interactively and is typically linked to other medical devices or networks by different network protocols such as NFC, Bluetooth, or Wi-Fi. Smart medical devices are frequently based on wireless technology and deliver services using machine-to-machine technology, therefore improving the user experience. Consumer demand for smart medical devices is increasing due to rising health awareness and the prevalence of chronic diseases such as diabetes around the world, which drives the worldwide smart medical devices market. Additionally, rising illness incidences and increasing applications of smart medical devices are propelling the global market. Due to the existence of a large number of participants in the market, the global smart medical devices market is predicted to develop. Innovation and technological improvements are critical drivers of industry growth. Moreover, the growth in health concerns, prevalence of chronic diseases, increased healthcare spending, and high-pitched demand for wearable gadgets would propel the market value significantly.

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