The software as a medical device market is expected to reach USD 86,451.62 million by 2027 from US$ 18,488.00 Mn in 2019; it is estimated to grow at a CAGR of 21.9% during 2020–2027.
The number of technological innovations in the healthcare information technology has dramatically increased over the past few years. Wireless connectivity, artificial intelligence and cloud computing and artificial intelligence are some of the prominent advancements that have helped to transform healthcare. In addition, development of software solutions that now act as medical devices have been categorized and approved by FDA as well as European Commission are now likely to take over as leading edge technologies continuing to a source of seismic shift in healthcare modernization.
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The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Software as a Medical Device Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
The “Global Software as a Medical Device Market Analysis to 2027″ is a specialized and in-depth study of the Software as a Medical Device market with a special focus on the global market trend analysis. The report aims to provide an overview of Software as a Medical Device market with detailed market segmentation by deployment, organization size. The global Software as a Medical Device market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Software as a Medical Device market players and offers key trends and opportunities in the Software as a Medical Device market.
What is Software as a Medical Device?
Software as a medical device is defined as a software solution used for one or more medical purposes without the software actually being a part of any medical hardware. These solutions can be used across a large range of technology platforms, including medical device, commercial “off-the-shelf” platforms, virtual networks, and others. The unique features of these devices that help them act more than a traditional medical device helps to promote innovation in digital healthcare and protect patient safety. The growth of the market is attributed to the increasing adoption of Internet of Things (IoT) and connected devices in healthcare sector, and advantages of software as a medical device, among others. However, the threat of data breach obstructs the growth of the market to a certain extent. Asia Pacific is expected to register highest CAGR in the market during the forecast period owing to rising healthcare infrastructure and increasing number of healthcare technology-based startups in the region.
Competitive Landscape: Software as a Medical Device market
- Velentium LLC
- Tietronix Software, Inc.
- S3 Connected Health
- Zühlke Group
- Science Group
- Inzentiz
- Cambridge Consultants Inc
- BrightInsight, Inc.
- CompliancePath
- Jabil Inc.
- Phillips-Medisize
- Pro4People Sp. Z.o.o
By Device Type
- PCs/Laptops
- Smartphone/Tablets
- Wearable Devices
By Application
- Screening and Diagnostics
- Monitoring and alerting
- Disease management
By Deployment Type
- Cloud
- On-Premise
Chapter Details of Software as a Medical Device Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Software as a Medical Device Market Landscape
Part 04: Software as a Medical Device Market Sizing
Part 05: Software as a Medical Device Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Major Features of Software as a Medical Device Market Report:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global 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 commercial interest with respect to client products, segmentation, pricing and distribution.
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