Overview:
The hi-tech medical devices market refers to the
segment of the healthcare industry that produces and sells advanced medical
equipment and devices that incorporate cutting-edge technology. These devices
are used for the diagnosis, treatment, and monitoring of various medical
conditions.
The Hi-Tech Medical Devices
Market Insights And Analysis By Product(Smartphones, Tablets, Smart Watches, Fitness
Trackers, Virtual REality Sets, Others), Mode of Application (Handheld,
Headband, Clip, Bracelet, Shoe Sensors, Others), Region (America, Europe, Asia
Pacific, Middle East & Africa) Forecast till 2032
Market Research Future (MRFR), in their recently
published report on the global hi-tech medical market claimed the possibility
of robust growth with impressive CAGR during the forecast period. The market
valuation is expected to grow multifold by 2023. Rapidly evolving technological
sector has incorporated sensors and modifications to support healthcare sector.
These devices are portable, easy to handle, provides near-accurate measures,
and can be worn for long duration. In addition, aesthetic aspects of the
products are highly regarded during the manufacturing of such devices. These
hi-tech medical devices are capable of monitoring a patient. MRFR founded their
report on segmental analysis and study of the drivers that can impact the
market in the coming years.
Consumer awareness regarding health is playing a major
factor in taking the market ahead. These products are aesthetically appealing
and easily wearable which is why the reach is getting wider. Introduction of
IoT, AI, and 4G and 5G network speed are all supporting the hi-tech medical devices
market trends considerably. These devices have also facilitated constant monitoring
of chronic diseases which can spur the intake of them in hospitals and other
healthcare providers.
Segmentation:
MRFR in their study on the global hi-tech medical
devices market segmented the market by products and mode of application for a
comprehensive understanding.
Based on the products, the hi-tech medical market
includes smartphones, tablets, smartwatches, fitness trackers, virtual reality
sets and others. Consumer awareness regarding health and growing trend of
adopting gadgets can be seen as an influencer in the emergence of fitness
trackers. Smartwatches are also growing popular among the mass owing to their
affordability.
On the basis of the mode of application, the hi-tech
medical devices market trends comprise handheld, headband, strap, clip,
bracelet, shoe sensors and others. Shoe sensors are fast becoming
popular. Many market players are tagging them with the smartphones to deliver
better results.
Regional Analysis:
For a region-specific study of the global hi-tech
medical devices market, MRFR included four major regions such as North America,
Europe, Asia Pacific (APAC) and the Middle East and Africa (MEA).
North America is anticipating high growth in the
global hi-tech medical devices market. The regional market owes much to the
high penetration of technology across verticals and its extensive utilization
in health management platforms. The sector is witnessing rapid uptake of the
technologically advanced healthcare services. In addition, remote patient
monitoring is getting considerable precedence.
The APAC region is deemed to have noteworthy growth
rate during the forecast period. The region has a huge population base who are
proficient in handling digital gadgets which ensures a wide-scale percolation
of the devices. At the same time, developing countries in the region are
putting in great effort to restructure their healthcare sector which can
promote the necessity of such equipment further. In addition, affordability of
such devices are aiding considerably in market proliferation.
Europe’s market is bound to grow as huge demands for
such products are pouring in. Various tie-ups are also helping the market in
their endeavor to advance.
Competitive Analysis:
Influential players studied by MRFR operating in the
global hi-tech medical devices market trends are Xiaomi, Apple Inc., Sony
Corporation, Google Inc., Nike, Adidas AG, Virtual-Realties Limited, and CAE
Healthcare.
In 2018, Hip’Air launched a belt-like bag targeting
the elderly people. Aged people are more prone to falling and fracturing their
bones which due to their low immunity takes time to heal. The bag, if senses,
that the person is falling would get inflated. The impact would be lessened and
as the company suggest 90% protection can be expected.
In 2018, EarlySense launched their fertility tracker
which, when placed under the bed for three months, gathers information about
the lady and sends information about a six-day fertility window.
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