Smartphone Enabled Medical Devices Market Size, Share, And Growth Report 2032

Smartphone Enabled Medical Devices Market Size

According to Zion Market Research, the global Smartphone Enabled Medical Devices Market was worth USD 94.45 Billion in 2023. The market is forecast to reach USD 169.32 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Smartphone Enabled Medical Devices Market industry over the next decade.

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Global Smartphone Enabled Medical Devices Market: Overview

Nowadays, with advanced technology, smartphones are not only used for personal purposes but it has also become very ubiquitous in the healthcare sector. Smartphones coupled with modern communication technologies and embedded sensors allow continuous and remote monitoring of the person's health with no additional cost. Smartphones are being programmed with algorithms that enable the diagnosis of certain medical conditions. It helps in the monitoring of vital health parameters such as blood glucose, heart rate, blood pressure, pulse oximeters, etc.

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Global Smartphone Enabled Medical Devices Market: Growth Factors

An increase in healthcare expenditure and supportive government initiatives to improve patient health will drive the patient monitoring market growth. Various other factors such as the growing penetration of IT in the healthcare industry, the increase in demand for home healthcare will also boost the market growth of smartphone-enabled medical devices. The covid-19 pandemic has impacted the economy drastically and has also resulted in changes in consumer preferences. Nowadays, consumers prefer contactless healthcare and the use of technology due to a fear-led mindset and social distancing resulting in an increase in the demand for smartphone-enabled medical devices which in turn is flourishing the market of smartphone-enabled medical devices. The growing need for remote monitoring, the rise in collaboration of medical devices and the software sector are also some of the aspects that are boosting the growth of the market.

Global Smartphone Enabled Medical Devices Market: Segmentation

The Smartphone Enabled Medical Devices Market is segmented based on applications, distribution channel and region.

On the basis of Application, the Smartphone Enabled Medical Devices Market is segmented into Patient Monitoring, Health Records Maintenance & Access, and Clinical Decision Making. Patient Monitoring is dominating the market due to increasing healthcare expenditure and supportive initiatives by government.

Based on Distribution Channel, the Smartphone Enabled Medical Devices Market is bifurcated into Retail and Online. Retail segment is dominating the market and contributing towards the growth of the Smartphone Enabled Medical Devices market globally due to increase in brand awareness and availability of customer service.

Smartphone Enabled Medical Devices Market: Report Scope

Global Smartphone Enabled Medical Devices Market: Regional Analysis

North America is expected to lead the global Smartphone Enabled Medical Device market due to factors such as rising public health awareness and well established IT sector, rise in healthcare expenditure. Europe is second growing market for smartphone enabled medical device due to increase in number of geriatric patients and rise in initiative by the government. Asia Pacific is also a fast growing market for smartphone enabled medical devices due to available business opportunities and increase of wireless services for medical devices provider.

Global Smartphone Enabled Medical Devices Market: Competitive Players

Some of the key players in Smartphone Enabled Medical Devices Market are

• IBM Watson
• EBSCO Health
• AT&T
• Apple, Inc.
• Accenture
• MIM Software, Inc.
• McKesson Corporation
• Fitbit, Inc.
• Dexcom, Inc.
• athenahealth

The key players are forming various strategies such as product launches, collaborations, product development to gain competitive advantage in the market.

The global Smartphone Enabled Medical Devices Market is segmented as follows:

By Applications

• Patient Monitoring

• Health Records Maintenance & Access
• Clinical Decision Making

By Distribution Channel

• Retail
• Online

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa