The global smart medical devices market is expected to reach $ 24.46 billion by 2025, according to Research and Markets (www.researchandmarkets.com).
The increasing adoption of smartphones is observed as a major factor driving market growth, according to the research group. In addition, the technological advancement and the rising awareness and focus on fitness is driving the market.
The increasing demand for wireless and smartphone compatible devices which is enhancing the diagnosis and makes accurate detection is making it convenient for patients to monitor their health anywhere and save the result on the connected device, is additionally driving the market, says Research and Markets.
Diagnostic and monitoring segment was the largest product category in 2015, but is expected to register a lower growth as compared to the therapeutic segment over the forecast period. Blood pressure monitor was the major diagnostic and monitoring device used by the patients in 2015 and accounts for a share of over 20.0% in 2015.
Online channel is the largest shareholder with an estimated CAGR [compound annual growth rate] of about 22.0% from 2016 to 2025. The trending online purchase for discounts, flexibility, convenience and availability of wide range of products with varying prices is leading to demand for purchasing smart medical devices online Additionally, the use of smartphones is expected the boost the market, adds Research and Markets.