“Global Smart Medical Devices Market“:
The Global Smart Medical Devices Market is expected to record a CAGR of 7.5% over the forecast period. The smart medical devices market is expected to witness a robust growth as an increased demand for smart devices is observed, due to the growing geriatric population, since elderly people are prone to chronic diseases, such as CVD, cancer, and diabetes, which helps in the growth of the market.
Technological Advancement in Devices Boosts the Growth of the Smart Medical Devices Market
The new medical technology has transformed the way doctors and patients participate and interact with each other. Obtaining real-time information, tracking past health records, identifying potential health issues, and devising a treatment plan are all signs of the gradual shift from traditional methods to smart medical devices. The future of medical devices is influenced by technological trends and opportunities that promise to revolutionize the operations of the healthcare providers and medical companies. The smart medical devices market space is driven by innovation, and the development of state-of-the-art medical devices and technologies that has shown an unparalleled growth, and advancement in the healthcare services industry.
The other driving factors also include the rise in demand for smartphone-compatible and wireless medical devices, and rising awareness and focus on fitness.
F. Hoffmann-La Roche Ltd
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High Cost of Devices helps to restrain the growth of Smart Medical Devices Market
The cost of smart medical devices is being pulled away because of their high costs and a belief in some economies that they are luxury items. CVR Medical’s device-in-development is targeted to cost an estimated to USD 49,000 per unit for detecting ischemia, which is the leading cause of stroke. However, these high costs associated with the devices restrict the smart medical devices market.
The other factors also include patients privacy concerns may affect the market negatively affects the market.
North America Dominates the Smart Medical Devices Market
On the basis of geography, North America is found to dominate the global smart medical devices market, owing to well-developed healthcare infrastructure and increasing advancement in medical device technologies. The Asia-Pacific region is also anticipated to be fastest-growing market, due to the increasing population and rising disposable incomes.
Key Developments in the Smart Medical Devices Market
Dec 2017: Abbott launched the first smartphone compatible, insertable cardiac monitor to detect arrhythmias.
Reasons to Purchase the Smart Medical Devices Market Report
Current and future global smart medical devices market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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