Knowledge Sourcing Intelligence

The Software as a Medical Device (SaMD) Market Is Estimated to Grow at a CAGR of 85.41% Between 2019 to 2025


Noida, India -- (SBWIRE) -- 08/13/2019 -- The recent study on the Software as a Medical Device (SaMD) market covers an in-depth analysis of the market on the basis of device type, application, deployment, and geography. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2025.

The report has segmented the software as a medical device (SaMD) market by device type (PC/laptops, smartphone/tablets, wearable device), by application (diagnostic, clinical management), by deployment (cloud, on-premise), and by geography such as Americas, Europe Middle East and Africa, and Asia Pacific. The Software as a Medical Device market is projected to witness a staggering growth during the forecast period owing to the rapid product launches and rising adoption of IoT in healthcare. Furthermore, ease in regulations for the certification of the SaMD will further boost the market. However, concerns regarding the privacy of the health data of the user might restrain the market during the given forecast period. Additionally, rising investments by the companies for SaMD will provide ample opportunities for the market players to flourish during the given forecast period.

Cloud deployment is projected to grow at the highest CAGR during the forecast period.

Cloud-based SaMDs are becoming increasingly popular around the world, owing to its ease of accessibility and growing penetration of internet in the healthcare industry. Furthermore, cloud-based software also allows for accelerated performance on lower-tier hardware and increased accessibility from multiple platforms.

Americas provides significant revenue generation opportunity for the SaMD solution providers.

Americas region is estimated to hold a significant share in the market in 2019 on account of a number of companies getting FDA clearance on their software as a medical device. This coupled with the burgeoning investment in the healthcare industry by major countries like the U.S.A. and Canada is further propelling the SaMD market growth in the region. The Europe Middle East and Africa region is projected to witness good growth during the forecast period owing to the rising prevalence of diseases and growing pressure to reduce healthcare cost and to increase the quality of care.

Some of the major players discussed in the reports are Arterys Inc., Quantitative Insights Inc., Imagen Technologies, and IDx LLC among others.

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