Smart Medical Devices Market to Reach $193.3 Billion by 2030, Growing at 17.1% CAGR from 2025

The global market for smart medical devices is projected to grow from $87.7 billion in 2025 to $193.3 billion by 2030, with a CAGR of 17.1%. The growth is attributed to advancements in innovation and technologies, increasing chronic diseases, and novel product launches. The market is segmented by product type, application, and end user, with a focus on implantable, wearable, and non-wearable devices for cardiovascular, diabetes, neurology, and sleep disorders applications.

Title: Global Market for Smart Medical Devices Projected to Reach $193.3 Billion by 2030

The global market for smart medical devices is poised for significant growth, with projections indicating a robust expansion from $87.7 billion in 2025 to $193.3 billion by 2030, according to a recent report by ResearchAndMarkets.com [1]. This growth is attributed to advancements in innovation and technologies, the increasing prevalence of chronic diseases, and the launch of novel smart medical devices. The market is segmented by product type, application, and end-user, with a focus on implantable, wearable, and non-wearable devices for applications in cardiovascular, diabetes, neurology, and sleep disorders.

The report highlights several key drivers for this growth, including improved wireless communication and digital health technologies, the development of Internet of Things (IoT) technologies in healthcare, and an increasing number of chronic diseases among aging populations. The market is also characterized by emerging trends such as the integration of artificial intelligence and machine learning, nanotechnology-based devices, and the Internet of Medical Things (IoMT).

One notable development in the industry is Verily, Alphabet's life sciences arm, which is shifting its focus from medical devices to AI and data infrastructure. This strategic pivot involves the closure of its medical device program and associated layoffs, reflecting a broader trend in the tech industry where companies are prioritizing AI and data-driven solutions [2]. Despite this shift, Verily's achievements in medical devices, such as the launch of the Dexcom G7 Continuous Glucose Monitoring (CGM) system and the Stargazer VNRC drug targeting system, have left a lasting impact on the industry.

The market for smart medical devices is expected to continue its growth trajectory, driven by technological advancements, increasing healthcare demands, and strategic shifts within key players. Investors and financial professionals should closely monitor this market for potential opportunities and risks.

References
[1] https://www.globenewswire.com/news-release/2025/08/28/3140610/28124/en/Smart-Medical-Devices-Global-Markets-Report-2025-2030-IoT-Adoption-Wireless-Communication-Advances-and-Rising-Chronic-Disease-Burden-Amid-Aging-Populations-Fuel-Expansion.html
[2] https://theoutpost.ai/news-story/alphabet-s-verily-shuts-down-medical-device-program-shifts-focus-to-ai-19588/