February 27, 2020

Smartphone Enabled Medical Devices Market Is Expected To Reach US$ 31,759.3 Mn By 2026

The latest market report published by Credence Research, Inc. “Global Smartphone Enabled Medical Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global smartphone enabled medical devices market was valued at US$ 4,411.1 million in 2017 and is expected to reach US$ 31,759.3 million by 2026, increasing to CAGR by 24.9 per cent from 2018 to 2026.

Market Insights

As per the latest research findings of the World Health Organization (WHO), non-communicable disease kill 41 million people annually which represents 71% of all deaths globally. It is important to understand the factors responsible for the progression of chronic disease. Smartphone enabled medical devices are helpful in the monitoring of vital health parameters such as blood glucose, heart rate, blood pressure, pulse oximeters, etc. Health care providers are employing smartphone apps to improve patient care by maintaining patient electronic health records and performing critical diagnosis simultaneously.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/smartphone-enabled-medical-devices-market

In the present scenario, patient monitoring is reigning the application segment for smartphone enabled medical devices market. A significant increase in healthcare expenditure and supportive government initiatives to improve patient care drive the patient monitoring market growth. Increasing demand for patient monitoring in remote locations and rehabilitation centers further fortify the market growth. In the last 2 decades clinical decision making has gained tremendous attraction on account of technological advancement in mobile applications which employ clinical algorithm to aid physicians in validation of disease diagnosis.

Retail business is dominating the distribution channel segment for smartphone enabled medical devices market. Rampant growth in brand awareness and availability of excellent customer service drive the retail business market growth. Online distribution channel will be capturing the market owing to the availability of broadband services and diverse range of products online.

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North America is currently leading the regional segment for smartphone enabled medical devices market. It represents a market share of 40% primarily due to existence of well-developed IT sector and rising public health awareness. Domicile of key players such as AthenaHealth, Accenture, Fitbit, Inc. etc. further consolidate the market growth in North America. In Europe the market growth is driven by factors such as rising prevalence of chronic disease in geriatric population and strategic collaboration between pharmaceutical segments and software companies to provide sophisticated mobile applications for medical purpose. It is the second largest regional market with a market share of 30%. Asia Pacific currently holds 15% market share and will be the fastest growing market during the forecast period from 2018 to 2026 owing to the emergence of local players specializing in smartphone enable medical applications and tools. It also serves as an attractive business destination for major players to establish their retail outlets to promote their brands and products.

Software companies providing application and online services pertaining to smartphone enabled medical devices are Accenture, Apple, Inc., AthenaHealth, AT&T, Dexcom, Inc., EBSCO Health, Fitbit, Inc., IBM Watson, McKesson Corporation and MIM Software, Inc.

Key Market Movements:

  • Rising public health awareness and increasing healthcare expenditure
  • Rampant growth in IT healthcare segment providing sophisticated tools to be integrated with medical practices
  • Increasing demand in physicians to aid clinical decision making and provision of excellent patient monitoring in remote locations

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59542

 [Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Application Type

 • Patient Monitoring

 • Health Record Maintenance and Access

 • Clinical Decision Making

 By Distribution Channel Type

 • Retail

 • Online

By Geography Segment

· North America (the U.S., Rest of North America)

· Europe (U.K., Germany, France, Rest of Europe)

· Asia Pacific (China, Japan, India, Rest of Asia Pacific)

 • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • Who are the major players providing smartphone enabled medical devices?
  • What inorganic and organic market growth strategies are prevalent in the smartphone enabled medical devices market?
  • What is the impact of smart applications and sophisticated tools in medical science?
  • What is the importance of patient monitoring and what applications are being developed to improve its efficiency?
  • What will the market size and CAGR of online distribution channel during the forecast period from 2018 to 2026?
  • What are the features responsible for the growth of North America and European Market?

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59542

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