Key Insights into the Software As A Medical Device (SaMD) Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Are the Primary Drivers Supporting the Market Growth of theSoftware As A Medical Device (SaMD) Market?
The anticipated expansion of the software as a medical device (SaMD) market is likely to be fuelled by the mounting adoption of Internet of Things (IoT) in healthcare. IoT in healthcare refers to medical appliances and software capable of interacting with online computer networks to access healthcare information technology systems. IoT’s significant application in healthcare is remote patient monitoring, which involves utilizing connected devices and sensors to check patient health status and gather data from afar. IoT-founded telemedicine is jointly employed in healthcare as it’s a groundbreaking technology with the potential to transform the healthcare delivery system. This system fosters proactive interventions, personalized care, superior patient outcomes, and heightened privacy measures. For example, data from Medicon Publications in May 2023 stated that 80% of American participants favored remote patient monitoring in 2021, and it is anticipated that around 30 million US patients will make use of these technologies and services by the year 2024. Therefore, the escalating usage of IoT in healthcare is propelling the growth of the software as a medical device (SaMD) market.
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How Will the Growth Rate of theSoftware As A Medical Device (SaMD) Market Impact Industry Trends by 2034?
The market for Software as a Medical Device (SaMD) has experienced an exponential expansion in the recent past. It is predicted to escalate from $29802.38 billion in 2024 to $36884.09 billion in 2025, reflecting a compound annual growth rate (CAGR) of 23.8%. The growth during the historical period is a result of globalization, increasing complexity of obstacles, market dynamics, collective R&D expenditures, and objectives for sustainability.
The market size for software as a medical device (SaMD) is projected to experience significant expansion in the coming years, reaching a value of $84269.39 billion in 2029, growing at a compound annual growth rate (CAGR) of 22.9%. This anticipated growth in the forecast period is primarily due to several factors such as changes in regulations, concerns about cybersecurity, the use of AI and data analytics, the global response to health crises, and the implementation of blockchain for fostering trust and transparency. The key trends expected during the forecast period involve ecosystem partnerships, the fast-paced obsolescence of technology, the ongoing digital transformation, the advent of new technologies, the drive for innovation, and continued technological advancements.
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What Are the Latest Innovations Influencing theSoftware As A Medical Device (SaMD) Market?
Adoption of AI-enabled software represents a significant trend in the Software as a Medical Device (SaMD) market. Major players in the Software as a Medical Device (SaMD) sector are pioneering breakthrough AI-enabled software to maintain their market position. For instance, Genomic Vision., a French biotech firm, in May 2023, rolled out an AI-infused software known as FiberSmart. This forward-thinking software is developed to simplify the detection and calculation of fluorescent signals on braided DNA molecules. It is applicable in evaluating DNA replication kinetics – the DNA duplication process. The technology enables DNA molecules alignment and separation, thereby enhancing the ease of spotting and evaluating fluorescent signals. Further, it introduces AI-powered identification and enumeration, boasts an easy-to-use interface, and offers flexibility and scalability. Notably, it is compatible with Genomic Vision’s range of scanners and has passed tests and validation successfully.
Who Are the Major Industry Players Accelerating Growth in theSoftware As A Medical Device (SaMD) Market?
Major companies operating in the software as a medical device (SaMD) market include Apple Inc., McKesson Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthcare GmbH, GE HealthCare Technologies Inc., Roche Diagnostics, 3M Health Care, Cerner Corporation, Illumina Inc., Philips Medical Systems Ltd., Dexcom Inc., Sysmex Corporation, Carl Zeiss Meditec AG, Nihon Kohden Corporation, Zhlke Group, Viz ai Inc., Paragon Biosciences LLC, S3 Connected Health, Arterys Inc., BrightInsight Inc., Agfa HealthCare Corp., iSchemaView Inc., VitalConnect Inc., Volpara Health Technologies, Tietronix Software Inc., Velentium LLC, Greenfinch Technology Ltd., MaxQ AI Ltd., IDx Technologies Inc.
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Which Primary Segments of the Software As A Medical Device (SaMD) Market Are Driving Growth and Industry Transformations?
The software as a medical device (SaMD) market covered in this report is segmented –
1) By Device Type: Wearable Device, PCs And Laptop, Smartphone And Tablets
2) By Deployment Method: Cloud-Based, On-Premise
3) By Application: Diagnostic, Clinical Management
Subsegments:
1) By Wearable Devices: Smartwatches With Health Monitoring Functions, Fitness Trackers, Wearable ECG And Blood Pressure Monitors
2) By PCs And Laptops: Medical Diagnostic Software, Clinical Decision Support Software, Telemedicine Platforms
3) By Smartphone And Tablets: Mobile Health (mHealth) Apps, Remote Patient Monitoring Software, Diagnostic Imaging Apps
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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theSoftware As A Medical Device (SaMD) Market?# Market?
North America was the largest region in the software as a medical device (SaMD) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software as a medical device (SaMD) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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