The Software as a Medical Device (SaMD) market is projected to grow at a CAGR of 85.41% during the forecast period of 2019-2025.
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.
By device type, the software as a medical device (SaMD) market is segmented as PCs/laptop, smart phone/tablets and wearable device.