Software as a Medical Device Market to Surpass US$ 5.4 Billion by 2032 as Integration of Internet of Things in Healthcare Sector Surges
NEW YORK, Oct. 25, 2022 /PRNewswire/ -- The global software as a medical device (SaMD) market is expected to reach US$ 1.1 billion in 2022, registering 16.7% CAGR during the forecast period (2022-2032). Sales in the market are projected to surpass US$ 5.4 billion by 2032 as integration of artificial intelligence, and advanced technology is surging in healthcare sector.
- Sales in the market are projected to surpass US$ 5.4 billion by 2032 as integration of artificial intelligence, and advanced technology is surging in healthcare sector.
- Increasing use of Internet of things (IoT) in the healthcare industry and government efforts to improve the infrastructure are likely to drive the growth in software as a medical device market.
- The market for software as a medical device was dominated by PCs and laptops, in terms of device type.
- Introduction of AI-based software applications and the advancement of technology will drive the growth in software as a medical device market.