Exhaustive Study on Smart Health Devices Market 2019 | Strategic Assessment by Top Players: NeuroMetrix, Inc., Fitbit, etc.

Smart Health Devices Market:

The global smart health devices market was valued at USD 3,900 million in 2018 and is expected to grow at a CAGR of 24.2% during the forecast period, 2019–2026.

Smart health devices are used for the diagnosis and monitoring of various chronic diseases such as hypertension and diabetes. The constantly growing prevalence of chronic diseases and cardiovascular diseases is increasing the demand for monitoring devices.  For instance, more than 17 million people have died from cardiovascular diseases worldwide, WHO. Rapidly growing technological advancements and rising trends for fitness are compelling existing market players such as Fitbit, Inc., Apple, Inc., and Medtronic to offers fitness accessories at reasonable prices to boost their revenue and maintain a customer base. Apart from this, shifting consumers’  preference towards IoT medical devices is driving the demand for smart health devices. In 2017, Medtronic launched Azure S MRI pacemaker for the treatment of bradycardia.

Apart from meeting the trending demand, the market players are also paying significant attention to developing robust technology that can enhance accuracy and speed, compactness, and ease of use. Recently, Abbott has launched a smartphone-connected implantable cardiac monitor device named ‘Confirm Rx.’ The device can remotely monitor unpredictable heart rhythm problems and offer fast and accurate diagnoses. When it comes to health, people are not hesitating to spend on premium health care and devices. The U.S expends over USD 10,224 per person on healthcare, NHCE.

The Worldwide Smart Health Devices market and the Global Smart Health Devices Market report encloses vital statistical data of sales and revenue based on leading segments such as type, regions, applications, technology, and elite players in the global Smart Health Devices industry. The report highlights the essential elements such as market share, profitability, production, sales, manufacturing, advertising, technological advancements, key market players, regional segmentation, and many more crucial aspects related to the Global Smart Health Devices Market. The report aims at historical occurrences, talks about the present status of the industry and also provides valuable forecast information up to 2026.

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The Major Players Covered in this Report: NeuroMetrix, Inc., Fitbit, Inc., Abbott, Apple, Inc., Dexcom, Inc., Zephyr, Sonova, F. Hoffmann-La Roche Ltd, Medtronic, and Johnson & Johnson. & More.

By Product, Diagnostic & Monitoring, Blood glucose monitors, Heart rate monitors, Pulse oximeters, Blood pressure monitors, Breath analyzer, Medical tricorder, Smart clothing, Therapeutic Devices, Portable oxygen concentrators and ventilators, Insulin pumps, Hearing aid, Others
By Sales Channel, Pharmacies, Online channel, Others
By End-user, Hospitals, Clinics, Homecare, Others

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Smart Health Devices in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Smart Health Devices market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Smart Health Devices and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Smart Health Devices. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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COVID-19 Impact Analysis:
- The COVID-19 pandemic had a significant impact on the on trade segment and Industry.
- Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Railway Suspension System industry is expected to stabilize after 2019.
- The liquor industry was not impacted severely due to the pandemic.

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Key Smart Health Devices Market Trends:
- The report identifies, determines, and forecasts the Global Smart Health Devices Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Smart Health Devices Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Smart Health Devices Market.

Our Report Covers:
1. Historical inferences, findings & analysis of the market from 2016 to 2018

2. Projections and performance forecast analysis for the future from 2019 to 2026

3. Production and consumption point of view (POV) analysis

4. Market drivers, restraint and opportunity analysis, to define market dynamics covering industry, regulatory, innovation, technological & pricing trends

5. Comprehensive competitive landscape mapping with recent development covering market leadership, competency, sustainability, and prospects

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