Smartphone-enabled Medical Devices: Global Market Analysis & Outlook to 2026 by Application, Distribution Channel and Geography - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 5, 2019--The “Global Smartphone Enabled Medical Devices Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026” report has been added to ResearchAndMarkets.com’s offering.
The global smartphone enabled medical devices market was valued at US$ 4,411.1 Mn in 2017, and is expected to reach US$ 31,759.3 Mn by 2026, expanding at a CAGR of 24.9% from 2018 to 2026.
In the present scenario patient monitoring is reigning the application segment for smartphone enabled medical devices market. 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.
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
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Smartphone Enabled Medical Devices Market: Dynamics and Future Outlook
3.1. Market Overview
3.5. Attractive Investment Proposition, by Geography, 2017
3.6. Competitive Analysis: Global Smartphone Enabled Medical Devices Market, by Key Players, 2017
Chapter 4. Global Smartphone Enabled Medical Devices Market, by Applications
4.2. Patient Monitoring
4.3. Health Record Maintenance and Access
4.4. Clinical Decision Making
Chapter 5. Global Smartphone Enabled Medical Devices Market, by Distribution Channel
Chapter 6. Global Smartphone Enabled Medical Devices Market, by Geography
Chapter 7. Company Profiles
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. News Coverage
7.2. Apple, Inc.
7.5. Dexcom, Inc.
7.6. EBSCO Health
7.7. Fitbit, Inc.
7.8. IBM Watson
7.9. McKesson Corporation
7.10. MIM Software, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/olam7r
View source version on businesswire.com:https://www.businesswire.com/news/home/20190405005140/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Medical Devices,Smartphones and Mobile Devices
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 04/05/2019 05:58 AM/DISC: 04/05/2019 05:57 AM