Smart Healthcare Products Market Report 2025

This Smart Healthcare Products report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The smart healthcare products market size has grown rapidly in recent years. It will grow from $262.27 billion in 2024 to $297.75 billion in 2025 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to healthcare digitization and telemedicine, patient monitoring and data integration, aging population and chronic disease management, demand for personalized and connected healthcare, regulatory standards and health it adoption.

The smart healthcare products market size is expected to see rapid growth in the next few years. It will grow to $509.73 billion in 2029 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to ai and machine learning in healthcare decision-making, remote patient monitoring and telehealth adoption, expansion of mobile health apps and wearables, precision medicine and genomics integration, demand for point-of-care and home healthcare devices, healthcare iot and data security. Major trends in the forecast period include digital twins for personalized healthcare, ai-powered diagnostic and treatment recommendations, wearables for mental health monitoring, remote surgery and robotic healthcare procedures, 3D-printed personalized medical devices, health data marketplaces and blockchain security.

The growth of the smart healthcare products market is being fueled by increasing healthcare spending. The demand for healthcare facilities has significantly risen due to the COVID-19 pandemic. Key drivers of this growth in healthcare spending include the government’s heightened focus on providing universal healthcare, rising income levels, an aging population, improved healthcare awareness, higher health insurance coverage, and the growing burden of non-communicable diseases. Smart healthcare products enable the diagnosis and treatment of ailments anytime and anywhere. For example, in 2022, the Office for National Statistics, a UK-based national statistics organization, reported that UK healthcare expenditure reached approximately $354.88 billion (£283 billion), reflecting a nominal increase of 0.7% compared to spending in 2021. Therefore, the rising healthcare spending is expected to drive the market for smart healthcare products.

The expanding demand within hospitals is anticipated to drive the future growth of the smart healthcare products market. Hospitals, as specialized healthcare facilities, cater to individuals with various illnesses, injuries, or medical conditions. Smart healthcare products play a pivotal role in modernizing healthcare systems, enhancing patient outcomes, ensuring safety and efficiency, and making healthcare more accessible. For example, as of August 2023, Interweave Textiles Limited reported 1148 hospitals in the UK, highlighting the increasing number of hospitals as a key factor propelling the growth of the smart healthcare products market.

Major companies in the global smart healthcare products market are concentrating on developing innovative technologies, such as FS-Sample technology, to enhance diagnostic accuracy, improve patient monitoring, and streamline healthcare processes, ultimately leading to better patient outcomes and more efficient healthcare delivery. FS-Sample technology is an advanced method for analyzing biological samples that improves diagnostic precision and efficiency in healthcare environments. For example, in April 2024, Mindray, a China-based medical device company, launched solutions designed for mid-volume laboratories. These innovations mark a significant advancement for mid-volume laboratories, equipping them with the tools needed to enhance operational efficiency and provide reliable diagnostics. The emphasis on compact design, advanced technology, and modular integration positions these solutions as valuable assets in modern clinical settings.

Leading companies in the smart healthcare products market are prioritizing innovation, as demonstrated by the introduction of products such as the hero tracker sense. This advanced digital respiratory health solution transforms a typical metered dosage inhaler (pMDI) into a smart, connected medical device. In February 2022, Aptar Pharma Inc., a France-based company, launched hero tracker sense, aiming to enhance patient adherence and inhalation technique for individuals worldwide suffering from chronic respiratory diseases.

In October 2022, Ping An Healthcare and Technology Company Limited, a China-based healthcare software company, acquired Ping An Smart Healthcare for an undisclosed amount. This acquisition aims to enhance Ping An Healthcare and Technology's digital health services, expand its user base, and leverage new technologies to improve healthcare delivery. Ping An Smart Healthcare specializes in innovative digital health solutions that focus on enhancing patient care and healthcare delivery in China.

Major companies operating in the smart healthcare products market include AirStrip Technologies, Samsung Healthcare, Siemens Healthineers AG, Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Apple Inc., AT&T Inc., Brooks Automation, Cisco Systems Inc., GE Healthcare, Given Imaging Inc., Hurst Green Plastics Ltd., International Business Machines Corporation, Olympus Corporation, Solstice Medical LLC, Abbott Laboratories, Agfa-Gevaert Group, Becton Dickinson and Company, Boston Scientific Corporation, Cardinal Health Inc., Cognizant Technology Solutions India Private Limited, Fujifilm Holdings Corporation, General Electric Company, Honeywell Life Care Solutions, Johnson & Johnson, Koninklijke Philips N.V., Medtronic Plc, Microsoft Corporation, Novartis AG, Omron Corporation, Oracle Corporation, ResMed Inc., Roche Holding AG, Stryker Corporation, Terumo Corporation, Zimmer Biomet Holdings Inc.

North America was the largest region in the smart healthcare products market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart healthcare products market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart healthcare products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Smart healthcare products refer to healthcare solutions utilizing state-of-the-art technologies like IoT and AI. These products facilitate remote monitoring and diagnosis of patients' health conditions, aiming to decrease treatment costs for users.

Primary categories of smart healthcare products include telemedicine, electronic health records, mHealth, smart pills, syringes, and smart RFID cabinets. Telemedicine involves the electronic transmission of medical information to improve patient health by facilitating remote consultations. Smart healthcare products play essential roles in storage, inventory management, monitoring, and treatment, finding applications in both hospital and home care settings.

The smart healthcare products market research report is one of a series of new reports that provides smart healthcare products market statistics, including smart healthcare products industry global market size, regional shares, competitors with a smart healthcare products market share, detailed smart healthcare products market segments, market trends and opportunities, and any further data you may need to thrive in the smart healthcare products industry. This smart healthcare products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart healthcare products market consists of sales of wearable activity trackers, wearable biosensors, ECG wearable devices, and other devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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