Hi-tech medical devices have gained massive growth opportunities in remote patient monitoring, disease management of chronic diseases, and elderly care. The global hi-tech medical devices market trends is poised for impressive growth and is likely to reach a significant valuation over the coming years, projects Market Research Future (MRFR) in an extensive study.

Growth in the geriatric population coupled with the rise in chronic disease across the globe, there is massive demand for healthcare IT solutions which can integrate with the latest technologies, improve patient care and reduce cost.

Preventive healthcare has gone mainstream, and there is a higher consumer inclination towards hi-tech medical devices for maintenance of optimal health which has resulted in the growth of the global hi-tech medical devices market.  Hi-tech medical devices provide accurate results, better aesthetics, and increased durability which adds to the popularity of such medical devices.

Growth in ownership of smart devices such as tablets and mobile phones have increased the penetration of hi-tech medical devices into the market. Integration of artificial intelligence and IoT with medical devices coupled with rapid development in the field of mobile sensor technology has opened up new avenues for the growth of the global hi-tech medical devices market trends.

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Rising popularity of fitness trackers and smartwatches among young population along with greater emphasis on wellness too is a crucial driver of the market.

The governments in multiple cut down countries are endeavoring to curb towering medical costs and are investing massively in hi-tech medical devices to improve patient outcomes.

On the other hand, the growth of the market might be hampered due to lack of awareness and low technological penetration in emerging and underdeveloped economies.

Segmentation

The global hi-tech medical devices market trends has been segmented based on product and mode of application.

By product, the global hi-tech medical devices market has been segmented into smartphones, tablets, smart watches, fitness trackers, virtual reality sets and others.

By mode of application, the global hi-tech medical devices market has been segmented into handheld, headband, strap, clip, bracelet, shoe sensors, and others.

Regional Analysis

North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA) are the key markets for hi-tech medical devices.

North America market is projecting substantial growth owing to the extensive utilization of health management platforms in the region. The region tends to adopt latest technologies rapidly which acts as a plus for the market growth. Increased demand for remote patient monitoring, greater affordability, and high awareness also generate considerable demand for hi-tech medical devices in the region.

APAC market for hi-tech devices is expected to expand at a remarkable rate in the coming years. The presence of a large consumer base, increasing awareness, and availability of hi-tech medical devices at affordable price boosts the APAC hi-tech medical devices market.

The Europe hi-tech medical devices market is spurred by rising consumer inclination towards home healthcare and the rise in healthcare expenditure in the region.

The Middle East Africa market is expected to exhibit sluggish growth due to lack of awareness and affordability in the region, especially in Africa.

Competitive Landscape

Sony Corporation, Apple Inc., Virtual-Realties Limited, Google Inc., Adidas AG,Nike, Xiaomi, and CAE Healthcare are the leading players in the global hi-tech medical devices market trends.

Industry Updates

• In November 2018, Huawei, multinational telecommunications-equipment and consumer-electronics Company, announced the availability of its new ultra-affordable fitness trackers to the US market. The new fitness tracker is said to provide better running metrics and has an added feature called "Professional Running Coach" which can assist in better running.
• In November 2018, Mevofit, a wellness company introduced an exclusive women's only fitness tracker range with the launch of MevoFit Slim and MevoFit Slim + HR. The new devices come in women-centric features and also include a period tracker, ovulation tracker, and coach feature.

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