Global Smart Diagnostic And Monitoring Medical Device Market To Grow By A CAGR Of ~19% During 2022 2031

(MENAFN- America News Hour) Smart Diagnostic and Monitoring Medical Device market report which delivers a detailed overview of the global smart diagnostic and monitoring medical device market in terms of market segmentation by product type, modality, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.

Smart Diagnostic and Monitoring Medical Device Market Statistics –

  • The Smart Diagnostic and Monitoring Medical Device industry is slated to observe 19% growth rate through 2022-2031

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The global smart diagnostic and monitoring medical device market is expected to grow with a CAGR of ~19% during the forecast period, i.e., 2022-2031. The market is segmented by end user into hospitals, clinics, and homecare. Among these segments, the homecare segment is expected to capture the largest market share in the global smart diagnostic and monitoring medical device market.
A flexible and broad range of
medical devices and the growing spending capacity of consumers on healthcare are contributors to the growth of
the segment
over the forecast period.

global smart diagnostic and monitoring medical device market
is predicted to generate impressive revenue by the end of 2031. Growing health awareness among people, as well as the high incidence of chronic diseases such as diabetes and asthma, are major factors estimated to drive the market growth over the forecast period.
World Bank data reports that diabetes incidence has risen from 8.2% in 2011 to 9.8% in 2021 among people aged between 20 and 79 years.

Geographically, the global
smart diagnostic and monitoring medical device market is segmented into
five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Among these, North America is projected to generate remarkable revenue by the end of 2031. The adoption of medical technology, improvement in healthcare infrastructure, and development of medical services are factors expected to drive market growth in the region during the forecast period.
A report published by the American Heart Association stated that about 13% of people lost their lives in the region due to coronary heart disease (CHD) in 2018.

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Major players include in the global Smart Diagnostic and Monitoring Medical Device Market :

  • Abbott Laboratories
  • Dexcom, Inc.
  • F.
    Hoffmann–La Roche Ltd
  • India Medtronic Private Limited
  • NeuroMetrix, Inc.
  • OMRON Corporation
  • Seer Medical Pty Ltd
  • VitalConnect Inc.
  • KHN Solutions, Inc.

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Increasing Prevalence of
Chronic Diseases
to Create Lucrative Opportunities for Market Growth

Approximately 3.23 million people died from chronic obstructive pulmonary disease in 2019. According to the World Health Organization, COPD is the third leading cause of death worldwide.

In recent years, diseases like asthma, diabetes, multiple sclerosis and chronic obstructive pulmonary disease
have become more prevalent. Thus, manufacturers are increasing their investments in the development of medical diagnostic and monitoring devices for early treatment.
As a result, quality of life has improved for patients, which is expected to further drive the demand for smart medical diagnostics and monitoring devices over the forecast period.

However, technological issues with devices that result in inaccurate data is expected to operate as key restraint to the growth of global smart diagnostic and monitoring medical device market over the forecast period.

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