Insights into the Worldwide Software as a Medical Device Industry to 2027 - Featuring Velentium, Tietronix Software & S3 Connected Health Among Others

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Dublin, May 12, 2020 (GLOBE NEWSWIRE) -- The "Software as a Medical Device Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Device Type, Application, Deployment Type, and Geography" report has been added to ResearchAndMarkets.com's offering.

The software as a medical device market is expected to reach US$ 86,451.62 Million in 2027 from US$ 18,488.00 Million in 2019; it is estimated to grow at a CAGR of 21.9% from 2020 to 2027.

The growth of the market is mainly attributed to the increasing adoption of Internet of Things (IoT) and connected devices in healthcare sector, and advantages of software as a medical devices (SaMD). However, threat of data breach is hindering the growth of the market to a certain extent.

The IoT has played an important role in the healthcare development. The technology is also actively integrated with respect to conversion of the digital platforms into medical devices that has helped these devices to be beneficial on all levels ranging from from in-patient treatment to population health condition monitoring. The healthcare sector has recently begun to invest in IoT and medical software development due to various advantages underlying their integration. They aid in real-time patient health tracking in hospitals and home settings through wearable devices that consist of data tracking software, along with enabling improvement in patient adherence to monitor the effect of a particular treatment through software accessed from smartphones or tablets.

Applications for IoT in healthcare majorly include continuous monitoring of physiological activities such as blood pressure, body temperature, pulse rate, and respiratory rates. Further, it is also used for continuous collection of data pertaining to certain parameters of patients suffering with chronic illness to provide remote assistance. The monitoring has evolved with the installation of specific apps in the patient's smartphones or wearable devices that act as both sensor and tracker converting them into a medical device for anchoring monitoring.

The global software as a medical device market is segmented by device type, application, deployment type, and geography. Based on device type, the market is segmented into PCs/laptops, smartphones/tablets, and wearable devices, and in 2019, the PCs/Laptops segment accounted for the largest market share. The segment is expected to continue its dominance over the forecast period owing to the introduction of upgraded laptops with smart sensors incorporated in them.

Furthermore, the laptops and computers are now being evolved into complex hardware systems that can act as an integrating tool as well as perform various monitoring and advance healthcare diagnostic activities through their new in-built features. On the other hand, the growing adoption of smartphones and the interest of software developers toward building smartphones compatible healthcare apps to help it act as a medical device are expected to lead the smartphones/tablets segment toward the highest CAGR during the forecast period.

A few of the crucial secondary sources referred to while preparing this report are US Food and Drug Administration (FDA), World Health Organization (WHO), Organization for Economic Co-operation and Development, International Medical Device Regulators Forum (IMDRF), and Health Canada.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the software as a medical device market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global software as a medical device market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Key Topics Covered:

1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Software as a Medical Device Market - By Device Type
1.3.2 Global Software as a Medical Device Market - By Application
1.3.3 Global Software as a Medical Device Market - By Deployment Type
1.3.4 Global Software as a Medical Device Market - By Geography

2. Software as a Medical Device Market - Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Software as a Medical Device - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South and Central America
4.3 Expert Opinion

5. Global Software as a Medical Device Market - Industry Dynamics
5.1 Key Drivers
5.1.1 Increasing adoption of IoT in healthcare
5.1.2 Advantages of Software as a Medical Device (SaMD)
5.2 Key Market Restraints
5.2.1 Threat of Data Breach
5.3 Key Market Opportunities
5.3.1 Connected healthcare in emerging nations
5.4 Future Trends
5.4.1 Increasing number of wearable medical devices
5.5 Impact Analysis

6. Software as a Medical Device Market - Global Analysis
6.1 Global Software as a Medical Device Market Revenue Forecast And Analysis
6.2 Global Software as a Medical Device Market, By Geography - Forecast And Analysis

7. Software as a Medical Device Market Analysis - By Device Type
7.1 Overview
7.2 Software as a Medical Device Market Revenue Share, by Device Type (2019 and 2027)
7.3 PCs/Laptop
7.3.1 Overview
7.3.2 PCs/Laptop: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)
7.4 Smartphones/Tablets
7.4.1 Overview
7.4.2 Smartphones/Tablets: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)
7.5 Wearable Devices
7.5.1 Overview
7.5.2 Wearable Devices: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)

8. Software as a Medical Device Market Analysis - By Application
8.1 Overview
8.2 Software as a Medical Device Market Revenue Share, by Application (2019 and 2027)
8.3 Screening and Diagnosis
8.3.1 Overview
8.3.2 Screening and Diagnosis: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)
8.4 Monitoring and Alerting
8.4.1 Overview
8.4.2 Monitoring and Alerting: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)
8.5 Disease Management
8.5.1 Overview
8.5.2 Disease Management: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)

9. Software as a Medical Device Market Analysis - By Deployment Type
9.1 Overview
9.2 Software as a Medical Device Market Revenue Share, by Deployment Type (2019 and 2027)
9.3 Cloud
9.3.1 Overview
9.3.2 Cloud: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)
9.4 On-Premise
9.4.1 Overview
9.4.2 On-Premise: Software as a Medical Device Market - Revenue and Forecast to 2027 (US$ Million)

10. Software as a Medical Device Market - Geographic Analysis
10.1 North America: Software as a Medical Device Market
10.2 Europe: Software as a Medical Device (SaMD) Market
10.3 Asia Pacific: Software As A Medical Device Market
10.4 Middle East & Africa: Software As A Medical Device Market
10.5 South and Central America: Software as a Medical Device (SaMD) Market

11. Impact Of COVID-19 Pandemic on Global Software As Medical Device Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment Of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Rest of the World: Impact Assessment of COVID-19 Pandemic

12. Software As Medical Device Market -Industry Landscape
12.1 Overview
12.2 Inorganic Growth Strategies
12.2.1 Overview

13. Company Profiles
13.1 Velentium LLC
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Tietronix Software Inc.
13.3 S3 Connected Health
13.4 Zhlke Group
13.5 Science Group
13.6 Inzentiz
13.7 Cambridge Consultants Inc
13.8 BrightInsight, Inc.
13.9 CompliancePath
13.10 Jabil Inc.
13.11 Phillips-Medisize
13.12 Pro4People Sp. Z.o.o.

14. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/8ro3gz

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