Smartphone Enabled Medical Devices Market

The global Smartphone Enabled Medical Devices Market is valued at USD 29.3 Billion in 2022 and is projected to reach a value of USD 98.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 16.3% between 2023 and 2030.

Premium Insights

Major companies have made significant investments in the research and development of wearable medical devices, both new and old. For instance, during the previous few years, Apple has released Watch Series 1, 2, 3, 4, and 6. The technological developments can be seen through the features offered in series 1 through series 6. Features such as an optical heart sensor (high heart rate notice), optical heart sensor (low heart rate notification), and optical heart sensor (irregular rhythm notification) are available on Apple Watch Series 1, 2, and 3. Cardiovascular disease (CHD) was the main factor in 42.1% of deaths attributed to cardiovascular disease in the United States, according to the American Heart Association's 2022 heart disease and stroke statistics update fact sheet. As a result, the prevalence of chronic diseases among Americans increases the demand for smart medical equipment and at-home patient monitoring devices, which fuels market expansion. The COVID-19 outbreak has impacted the global Smartphone Enabled Medical Devicess market in several ways. The pandemic has increased demand for remote patient monitoring devices such as blood glucose, blood pressure, and ECG monitors, which can be connected to smartphones for easy tracking and analysis. Researchers from Imperial College London and the University of Freiburg announced in April 2021 that they were working on wearable technology that could be used to build a network of health data about a patient, enabling early identification of COVID-19 even in asymptomatic patients.

Key Highlights

• By Product Type, the high demand for the diagnostic and monitoring devices segment will increase the Smartphone Enabled Medical Devices market from 2023 to 2030.
• By Distribution Channel, the online category dominated the largest market share globally from 2023 to 2030.
• In 2022, North America dominated the market with the highest revenue share of 38%.
• The Asia Pacific will grow at a high CAGR from 2023-2030.

Smartphone Enabled Medical Devices can provide patients with real-time feedback and remote access to their healthcare providers, significantly improving patient outcomes and reducing healthcare costs. ResApp Health, an Australian company, received FDA approval for its iPhone software last year. It monitors snoring and breathing to detect mild to severe obstructive sleep apnea. Compared to the sleep studies now used to diagnose sleep apnea, SleepCheckRx, which needs a prescription, is less invasive. These may cost thousands of dollars and require numerous testing. Another key driver is the growing adoption of wearable technology and the Internet of Things (IoT) in healthcare. Smartphones can connect seamlessly with medical devices such as wearables, smartwatches, and activity trackers, providing patients with a comprehensive view of their health and enabling physicians to make more informed decisions about their care.

‹›

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

• Real-Time Data Updates:
• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

Book Demo

Get Access Now

Economic Insights

Smartphones have become highly prevalent globally, and their advanced capabilities make them an ideal platform for controlling and monitoring medical devices. More than 97,000 mobile apps for fitness and health were available in 2013, and 52% of all smartphone users used them to research their health. The continuous advancements in smartphone technology, such as improved processing power, connectivity, and sensor capabilities, have expanded the possibilities for Smartphone Enabled Medical Devices. This has led to the development of innovative products and applications in areas like telemedicine, remote patient monitoring, and digital health. The Reflex app from Brightlamp is a clinical decision support tool that can be used, among other things, to help manage concussions and visual rehabilitation. The smartphone app examines how a person's pupils respond to variations in light using an iPad or iPhone camera. The imaging provides practitioners with data points for patient evaluation using machine learning analysis. Over 230 clinics utilize Brightlamp, which distributes directly to healthcare professionals. No insurance coverage exists for the $400 typical yearly charge clinics pay for each account. Reflex is currently being used in a clinical investigation by the Department of Defense.

Top Market Trends

1. Increasing Healthcare Expenditure: The rise in healthcare spending is driven by factors such as the growing prevalence of chronic diseases, population growth, and aging demographics. This has led to increased demand for personalized health monitoring devices, which can be easily connected to smartphones for remote monitoring, diagnosis, and treatment. Smartphone Enabled Medical Devicess offer patients greater convenience and access to medical care at a lower cost than traditional healthcare methods. For instance, patients can use these devices to measure their blood glucose levels or monitor their heart rate from the comfort of their homes. In addition, healthcare providers can use these devices to diagnose and treat patients remotely, reducing the need for hospital visits and freeing up resources. Overall, the global Smartphone Enabled Medical Devicess market is expected to grow as technology advances and healthcare spending increases.
2. Technological Advancements and Innovative Products to Augment Growth: The global Smartphone Enabled Medical Devicess market is set to grow significantly in the coming years due to the constant technological advancements and innovative products being introduced. Smartphones as a platform for medical devices have gained popularity due to their convenience, cost-effectiveness, and easy accessibility. Integrating smartphones with medical devices has allowed for real-time monitoring, easy data transfer, and improved communication between patients and healthcare providers. The increasing prevalence of chronic diseases, rising demand for home healthcare devices, and the need for efficient and accurate healthcare solutions are driving the market's growth. Companies are investing heavily in research and development activities to introduce new and advanced Smartphone Enabled Medical Devicess to cater to the growing demand from consumers. Furthermore, adopting telemedicine and mHealth solutions contributes to the market's growth, as these technologies allow for remote patient monitoring and management. Overall, the future of the Smartphone Enabled Medical Devicess market looks promising with continuous technological advancements.

Market Segmentation

The global Smartphone Enabled Medical Devices market can be categorized on the following: Product Type, Distribution Channel, and Regions. Based on Product Type, the market can be categorized into Diagnostic & Monitoring Device, and Therapeutic Device. Additionally, based on the Distribution Channel, the market can be split between Pharmacies, Online Channel, and Other Distribution Channels. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Product Type

Diagnostic and Monitoring devices to Accommodate Maximum Market Share due to the Convenience and Effectiveness of these Devices in Managing Chronic Conditions

In 2022, diagnostic and monitoring dominated the market. With the increasing prevalence of chronic diseases and the need for continuous monitoring, Smartphone Enabled Medical Devicess are becoming more popular among patients and healthcare providers. These devices can diagnose and monitor various health conditions such as blood glucose levels, blood pressure, heart rate, oxygen saturation, and even ECG. They provide patients and healthcare providers with real-time data, helping them make informed treatment and management decisions. Moreover, Smartphone Enabled Medical Devicess convenience has made them an attractive option to patients as they can take readings from their homes. This has led to improved patient engagement and compliance with treatment regimes. In conclusion, the diagnostic and monitoring category of the global Smartphone Enabled Medical Devicess market is set to witness significant growth in the coming years due to the convenience and effectiveness of these devices in managing chronic conditions.

Based on Distribution Channel

Online Segment to Express Dominion Owing to Availability of a Broader Range of Products

Between 2023 and 2030, the online distribution channel is anticipated to grow fastest. Factors contributing to the growth of the online segment include the availability of a broader range of products, cost-effectiveness, and ease of access. Furthermore, the rising popularity of mobile healthcare apps and the increasing number of smartphone users globally have driven the demand for Smartphone Enabled Medical Devicess through online channels. The online segment is expected to witness rapid growth in emerging economies, such as India and China, due to increasing internet penetration, the rising prevalence of chronic diseases, and the increasing demand for healthcare products coupled with rising disposable income. Overall, the online segment is expected to play a significant role in the growth of the global Smartphone Enabled Medical Devicess market in the coming years.

Based on Region

North America to Lead Global Sales Owing to Changing Lifestyles and Increasing Popularity

The North American region is the largest market for Smartphone Enabled Medical Devicess. The area has been experiencing significant growth in the healthcare industry due to the growing awareness about the benefits of remote patient monitoring and telehealth services. Advancements in technology and increased smartphone penetration have made it easier for patients to track their health indicators and receive timely medical advice from healthcare providers through Smartphone Enabled Medical Devicess. Moreover, the rising prevalence of chronic diseases such as diabetes, cardiovascular disorders, and respiratory diseases has also contributed to the market growth in the region. The availability of advanced healthcare infrastructure and favorable government initiatives to promote digital health services are other factors driving North America's development of the Smartphone Enabled Medical Devicess market. Some of the major players operating in the market in the region include Apple, Google, Fitbit, and Samsung.

In 2022, the market in Asia Pacific was growing rapidly. The increasing adoption of smartphones and high-speed internet services in countries like China and India and the rising demand for technologically advanced medical devices, are expected to drive the growth of this market in the region. Moreover, the increasing prevalence of chronic diseases and growing healthcare expenditure are also anticipated to boost market growth in this region.

Competitive Landscape

The global Smartphone Enabled Medical Devicess market is highly competitive and fragmented, with many players operating in the space. Some major players operating in the market include Abbott Laboratories, Apple Inc., BIOTRONIK SE & Co. KG, Boston Scientific Corporation, and DexCom Inc. These players strive to enhance their product offerings and expand their market reach through extensive research and development activities, partnerships, collaborations, mergers, and acquisitions. Additionally, technological advancements and innovations are expected to drive market growth further in the coming years.

The key players in the global Smartphone Enabled Medical Devices market include - Abbott Laboratories (U.S.), Apple Inc. (U.S.), biotronik (Germany), Boston Scientific Corp. (U.S.), DexCom Inc. (U.S.), Fitbit Inc. (U.S.), Medtronic Inc. (Ireland), Novo Nordisk (Denmark), Omron Corporation (Japan), Sonova (Switzerland), VitalConnect Inc. (U.S.), Samsung Electronics Co. Ltd. (South Korea), West Pharmaceutical Services Inc. (U.S.) among others.

Recent Market Developments

• June 2023: Medtronic Inc. agreed with Allurion to expand access to AI-powered weight loss programs in Central and Eastern Europe, the Middle East, and Africa.
• July 2022: Medtronic launched the MiniMed 780G system in India. The Minimed 780G is a next-generation closed-loop insulin pump system for treating type 1 diabetes in people aged seven to 80.
• January 2021: Samsung Electronics launched a new smartphone-enabled blood pressure monitoring application in South Korea. The app uses the smartphone's camera to measure blood pressure and gives users accurate readings.

Segmentation of the Global Smartphone Enabled Medical Devices Market