Smart Medical Devices Market To Reach $185.56 Billion By 2030

November 2024 | Report Format: Electronic (PDF)

Smart Medical Devices Market Growth & Trends

The global smart medical devices market size is expected to reach USD 185.56 billion by 2030, registering a CAGR of 12.84% from 2025 to 2030, according to a new report by Grand View Research, Inc. The increasing adoption of smartphones is observed as a major factor driving market growth. In addition, technological advancements and rising awareness and focus on fitness are 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.

Diagnostics and monitoring devices are anticipated to grow at a significant CAGR over the forecast period due to the increasing demand for early disease detection and personalized healthcare solutions. Based on product, the therapeutic devices segment dominated the market with a revenue share of 85.18% in 2024 and is expected to witness the fastest growth rate of 12.99% during the forecast period.

Online channel is expected to grow at the fastest CAGR during the forecast period. The trending online purchase for discounts, flexibility, convenience, and availability of a wide range of products with varying prices is leading to demand to purchase smart medical devices online Additionally, the use of smartphones is expected to boost the market.

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Smart Medical Devices Market Report Highlights

Based on product, the therapeutic devices segment dominated the market with a revenue share of 85.18% in 2024 and is expected to witness the fastest growth rate of 12.99% during the forecast period.
Based on the distribution, pharmacies dominated the market with the largest revenue share of 39.43% in 2024.
Hospital dominated the market with the largest revenue share in 2024. The segment's growth can be attributed to the increasing demand for remote patient monitoring, the rising prevalence of chronic diseases, supportive regulatory frameworks for telehealth solutions, and a growing focus on personalized medicine.
North America dominated the smart medical devices market with the largest revenue share of 35.94% in 2024, owing to the government initiatives to design and implement smart medical devices, such as wearable devices, supportive regulatory bodies enabling the entry of new technologies, and strategic initiatives undertaken by market players.
The smart medical devices market in Asia Pacific is expected to grow significantly over the forecast period. The regional growth is driven by rapid advancements in digital healthcare technologies, rising healthcare demands, and the increasing burden of chronic diseases.

Smart Medical Devices Market Segmentation

Grand View Research has segmented global smart medical devices market report based on product, distribution, end-use, and region:

Smart Medical Devices Indication Outlook (Revenue, USD Million, 2018 - 2030)

Diagnostics and Monitoring Devices
- Blood Glucose Monitors
- Pulse Oximeters
- Breath Analyzers
- Medical Tricorders
- Blood Pressure Monitors
- Smart Thermometers
- Heart Rate Monitors
- Smart Contact Lenses
  - Glucose Monitoring
  - Intraocular Pressure Monitoring
- Smart Clothing
  - Embedded Health Sensors
  - Fitness Monitoring
- Wearable ECG Monitors
  - Chest Straps
  - Patches
Therapeutic Devices
- Portable Oxygen Concentrators & Ventilators
- Insulin Pumps
- Hearing Aids
- Neurostimulation Devices
  - Spinal Cord Stimulation
  - Deep Brain Stimulation
  - Transcranial Magnetic Stimulation
- Smart Inhalers
  - Asthma & COPD Management
  - Connected Inhalers with Data Tracking
- Smart Drug Delivery Systems
  - Wearable Injectors
  - Implantable Drug Delivery Devices