The global smart medical devices market was valued at USD 39.10 Billion in 2024, driven by the rising awareness regarding the benefits of physical health across the globe. The market is anticipated to grow at a CAGR of 7.50% during the forecast period of 2025-2034 to achieve a value of USD 80.59 Billion by 2034.
Base Year
Historical Year
Forecast Year
The increasing demand for remote patient monitoring and chronic disease management is driving the adoption of smart medical devices, offering personalised care and improving patient outcomes in real time.
Advancements in wireless connectivity and AI integration are enhancing the functionality of smart medical devices, enabling seamless data transmission and analysis for improved diagnostics and decision-making in healthcare.
Growing healthcare infrastructure in emerging markets, coupled with rising awareness of preventive healthcare, is fostering market growth by driving the demand for affordable, user-friendly smart medical devices.
Value in USD Billion
2025-2034
Smart Medical Devices Market Outlook
*this image is indicative*
Smart medical devices are advanced technologies designed to improve patient care through real-time monitoring, diagnostics, and data analysis. These devices, such as wearables, smart sensors, and diagnostic tools, are equipped with sensors, connectivity, and AI capabilities to track health metrics like heart rate, blood pressure, and glucose levels. By transmitting data to healthcare providers, they enable continuous monitoring, early detection of health issues, and personalised treatment. With applications across chronic disease management, remote patient care, and wellness, smart medical devices are transforming healthcare by enhancing precision, efficiency, and patient outcomes.
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Surge in FDA Approvals to Boost Market Growth
The increasing adoption of personalised healthcare, along with the rising demand for automation in medical procedures, is driving growth in the market. For instance, in January 2025, Saluda Medical received FDA approval for its biomarker-based, automated programming platform for spinal cord stimulation (SCS), known as EVA. This innovative platform enhances patient programming by autonomously analysing and adjusting therapy settings based on individual biomarkers, such as evoked compound action potentials (ECAPs). The EVA system reduces manual programming, optimises care, and improves the patient experience, streamlining workflow in busy clinics. This advancement is poised to drive growth in the market by enhancing the efficiency and effectiveness of treatments, meeting the increasing demand for smart, patient-centric devices.
AI Integration to Boost Smart Medical Devices Market Demand
With the rising demand for artificial intelligence (AI) and automation in medical diagnostics, the market is witnessing strong growth. For instance, in December 2024, Royal Philips introduced the CT 5300 system, which integrates AI and smart workflow automation to streamline the CT scanning process. The system’s AI-powered ‘Precise’ software assists at every stage, automating time-consuming tasks and freeing radiologists and technicians to focus on patient care. This technology optimises efficiency, improves diagnostic accuracy, and reduces clinician workload. The widespread adoption of such AI-integrated systems is expected to propel market growth in the forecast period, particularly within diagnostic imaging.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
Smart Medical Devices Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Device Type
Market Breakup by Type
Market Breakup by End User
Market Breakup by Region
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Blood Glucose Monitors to Lead the Segment by Device Type
Blood glucose monitors are poised to hold the largest market share due to the rising prevalence of diabetes and the increasing adoption of self-monitoring solutions. The growing diabetic population, advancements in continuous glucose monitoring (CGM) technology, and the shift towards non-invasive monitoring methods are key market drivers. As per the analysis by Expert Market Research, the global glucose monitoring devices market is anticipated to grow at a CAGR of 11.3% during the forecast period of 2025-2034. Furthermore, integration with smartphones and wearable technologies enhances user convenience and data tracking. With governments and healthcare organisations promoting diabetes management, this segment is set to drive market growth, ensuring widespread adoption and improved patient outcomes in the forecast period.
Wearable Devices to Dominate the Smart Medical Devices Market by Type
Wearable smart medical devices are expected to dominate the market, driven by increasing consumer awareness, advancements in sensor technology, and growing demand for real-time health monitoring. These devices, including smartwatches, ECG monitors, and biosensors, enable continuous tracking of vital health parameters, improving preventive care and chronic disease management. The integration of artificial intelligence (AI) and cloud-based analytics further enhances their functionality. As per the analysis by Expert Market Research, the global IoMT wearable devices market is expected to grow at a CAGR of 23.0% during the forecast period of 2025-2034. As consumers prioritise personalised healthcare and remote patient monitoring gains traction, the wearable segment is set to experience exponential growth, playing a crucial role in shaping the future of smart medical devices globally.
Homecare Settings to Lead the Smart Medical Devices Market Segmentation by End User
Homecare settings are projected to hold the largest market share, driven by the growing demand for remote patient monitoring and the shift towards decentralised healthcare. Ageing populations, rising chronic disease prevalence, and increasing healthcare costs are encouraging patients to manage their conditions at home using smart devices. Technological advancements, including AI-powered monitoring systems and user-friendly interfaces, make home-based care more efficient. With governments and insurers supporting telehealth initiatives, homecare settings are expected to drive market expansion, improving accessibility and reducing hospital dependency in the forecast period.
North America is expected to dominate the smart medical devices market due to strong healthcare infrastructure, high adoption of advanced technologies, and increasing demand for remote patient monitoring. The region benefits from extensive R&D investments, supportive regulatory policies, and rising chronic disease cases driving smart device adoption. Europe follows closely, supported by government initiatives and digital healthcare expansion. Asia Pacific is witnessing rapid growth, driven by improving healthcare access and tech-driven solutions. Latin America and the Middle East & Africa are expanding steadily, with increasing awareness and investments in smart healthcare solutions fuelling market penetration in these regions.
The key features of the market report comprise patent analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Headquartered in Bengaluru, India, BPL Medical Technologies was established in 1963 and is a leading player in the smart medical devices market. The company specialises in innovative healthcare solutions, offering advanced patient monitoring systems, ventilators, electrocardiographs (ECGs), and defibrillators. BPL Medical Technologies focuses on digital healthcare, integrating AI-powered diagnostics and IoT-enabled devices for enhanced patient care. With a strong presence in emerging markets, the company continues to expand its smart medical devices portfolio, supporting improved diagnostics and treatment across hospitals, clinics, and homecare settings. In October 2024, the company inaugurated its second manufacturing plant in Bengaluru. This showcases a significant step in the expansion of the capabilities of the company to provide world-class medical technology solutions.
Founded in 1965 and headquartered in Georgia, USA, CAIRE Inc. is a global leader in respiratory care solutions. The company specialises in smart medical devices, particularly oxygen therapy systems, including portable and stationary oxygen concentrators with advanced connectivity features. CAIRE’s product range integrates remote monitoring, mobile app compatibility, and AI-driven insights to enhance patient care. The company serves hospitals, homecare providers, and military healthcare sectors, ensuring reliable and efficient oxygen therapy. With continuous innovation, CAIRE Inc. strengthens its position in the smart medical devices market, improving respiratory health worldwide.
Cavagna Group S.P.A, established in 1949 and headquartered in Brescia, Italy, is a prominent provider of gas control solutions, including smart medical devices. The company develops technologically advanced medical gas regulators, valves, and cylinder systems used in hospitals and homecare settings. Cavagna integrates digital monitoring capabilities into its devices, enabling real-time tracking of gas flow and pressure for enhanced safety and efficiency. With a strong global presence, the company continues to innovate in medical gas technology, supporting healthcare providers with reliable, high-performance solutions for oxygen therapy and other medical applications.
Drive DeVilbiss International, headquartered in Pennsylvania, USA, was founded in 2000 and is a leading provider of smart medical devices for mobility and respiratory care. The company offers a diverse portfolio, including CPAP machines, oxygen concentrators, nebulisers, and advanced mobility aids with integrated smart technology. Drive DeVilbiss focuses on user-friendly, digitally connected solutions that enhance patient independence and homecare management. With operations spanning multiple countries, the company remains at the forefront of smart medical innovations, ensuring improved accessibility and quality of life for individuals requiring assistive healthcare devices.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include GCE Group, Inogen Inc., Koninklijke Philips N.V., Longfian Scitech Co. Ltd., Nidek Medical Products Inc., Murata Vios, BioTelemetry (Phillips Company), Smart Medical, Dr Trust, and Medtronic.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Device Type |
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| Breakup by Type |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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