Would Software as a Medical Device vital role In the Upcoming Years?

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The global software as a medical device market is expected to reach US$ 86,451.62 Million in 2027 from US$ 18,488.00 Million in 2019; it is estimated to grow at a CAGR of 21.9% from 2020 to 2027.

The growth of the market is mainly attributed to the increasing adoption of Internet of Things (IoT) and connected devices in healthcare sector, and advantages of software as a medical devices(SaMD). However, threat of data breach is hindering the growth of the market to a certain extent.

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The IoT has played an important role in the healthcare development. The technology is also actively integrated with respect toconversion ofthe digital platforms into medical devices that has helped these devices to be beneficial on all levels ranging fromfrom in-patient treatment to population health condition monitoring. The healthcare sector has recently begun to invest in IoT and medical software development due to various advantages underlying their integration. 

The global software as a medical device marketis segmented by device type, application, deployment type,and geography.Based on device type, the marketis segmented intoPCs/laptops, smartphones/tablets, and wearable devices, and in 2019, the PCs/Laptops segment accounted for the largest market share. The segment is expected to continue its dominance over the forecast period owing to the introduction of upgraded laptops with smart sensors incorporated in them.


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A few of the crucial secondary sources referred to while preparing this report areUS Food and Drug Administration (FDA), World Health Organization (WHO),Organization for Economic Co-operation and Development, International Medical Device Regulators Forum (IMDRF), and Health Canada.

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