How is the Software As A Medical Device (SaMD) Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the software as a medical device (samd) market?
In recent times, the Software as a Medical Device (SaMD) market has seen significant growth. Its size is projected to expand from $29802.38 billion in 2024 to $36884.09 billion in 2025, registering a Compound Annual Growth Rate (CAGR) of 23.8%. The surge during the historic period can be linked to factors like globalization, the mounting intricacy of problems, market fluctuations, collective R&D expenses, and objectives of sustainability.
What will be the software as a medical device (samd) market size in the future?
Anticipated to experience significant expansion in the coming years, the software as a medical device (SaMD) market is projected to reach a value of $84269.39 billion by 2029, displaying a compound annual growth rate (CAGR) of 22.9%. Factors such as regulatory modifications, cybersecurity considerations, the application of AI and data analytics, responses to worldwide health crises, and the use of blockchain for credibility and transparency all contribute to the growth projected for the forecast period. Ecosystem collaborations, rapid technological obsolescence, digital transformation, exposure to emerging technologies, the necessity for innovation, and technological advancement are the main trends projected for the forecast period.
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What main drivers are fueling expansion in the software as a medical device (samd) market?
The growth of the software as a medical device (SaMD) market is predicted to be driven by the increasing adoption of IoT within the healthcare sector. This refers to the utilization of medical tools and software capable of interfacing with online computer networks to tap into healthcare IT systems. The IoT (Internet of Things) in healthcare significantly aids in remote monitoring of patients, relying on interlinked devices and sensors to remotely accumulate health-related data from patients. The amalgamation of IoT-based telemedicine and healthcare signifies a groundbreaking technological progression, potentially reshaping the delivery of healthcare leading to proactive care, personalized treatments, better patient outcomes, and enhanced privacy. As reported by the US-based Medicon Publications in May 2023, a survey in 2021 revealed that 80% of Americans supported remote patient monitoring with an estimation of 30 million US patients utilizing these technologies and services by 2024. Thus, the escalating adoption of IoT in healthcare is fuelling the expansion of the software as a medical device (SaMD) market.
What key areas define the segmentation of the global software as a medical device (samd) market?
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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Who are the dominant players expanding their reach in the software 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.
How are evolving market trends shaping software as a medical device (samd) Strategies?
One emerging trend in the Software as a Medical Device (SaMD) market is the increasing use of AI-powered software. Prominent companies in this sector are creating advanced AI-driven software to solidify their market standing. Specifically, Genomic Vision., a biotech firm from France, unveiled AI-based software known as FiberSmart in May 2023. This state-of-the-art software helps automate the detection and quantification process of fluorescent signals in combed DNA molecules. It can also be utilized in the analysis of DNA replication kinetics, a DNA copy process. The unique software arrangement enables DNA molecules to be sorted and isolated with ease, thus simplifying the process of tracking and measuring fluorescent signals. Apart from that, it features AI-enabled detection and quantification, a user-friendly interface, and adaptable scalability. Notably, it is proven to be effective and compatible with Genomic Vision’s range of scanners.
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Which regions are emerging as leaders in the software as a medical device (samd) 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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