Report : Europe Software as a Medical Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Device Type (PCs/Laptop, Smartphones/Tablets, and Wearable Devices), Application (Screening and Diagnosis, Monitoring and Alerting, and Disease Management), Deployment Type (Cloud and On-Premise), and Country
According to the latest report on “Europe Software as a Medical Devices Market Forecast to 2027 – COVID-19 Impact and Analysis – by Device Type, Application, and Deployment Type,” the market was valued at US$ 5,430.19 million in 2019 and is projected to reach US$ 17,108.77 million by 2027; it is expected to grow at a CAGR of 22.7% during 2020–2027. The report highlights trends prevailing in the Europe software as a medical devices market and the factors driving market along with those that act as hindrances.
Based on device type, the Europe software as a medical devices market is segmented into smartphone/tablets, wearable devices, and PCs/laptops. In 2019, the smartphone/tablets device type segment held a larger share of the market. Whereas, wearable devices segment is expected to grow at a faster rate during the forecast period.
The growth of the Europe software as a medical devices market is attributed to the growing adoption of wearable devices, increasing investments in connected devices & healthcare IoT, and rising emphasis on utilization of intelligent platforms to improve healthcare outcomes. However, the increased risk of data breach limits the growth of market in this region. The COVID-19 has shown a significant impact on the Europe software as a medical devices market. Factors such as increasing number of coronavirus cases and growing number of fatalities due to the virus are leading to complete shutdown of businesses across the region, leading to hampering the growth of the market.
Velentium LLC, Tietronix Software Inc., S3 Connected Health, Zühlke Group, and Science Group amongst others are among the leading companies operating in the Europe software as a medical devices market.
Europe Software as a Medical Devices Market, By Region, 2019 (%)
The report segments Europe Software as a Medical Devices Market as follows:
By Device Type
By Deployment Type