Global Medical Device Connectivity Market was valued at USD 1.7 billion in 2021 and is expected to reach USD 10 billion by 2029, registering a CAGR of 24.9% during the forecast period of 2029
Industry Analysis
Surging growth in the telehealth and remote patient monitoring markets across the globe has largely impacted the market growth. Furthermore, the healthcare industry is embracing automation in all aspects of its operations, and medical device connection is a critical component of that automation. The market has shown a significant growth over the past few years, owing to the presence of these growth determinants. With the advent of COVID-19 pandemic, the demand for medical device connection has also increased, which will propel the growth and expansion of the market in near future.
Medical device connection (MDC) is a patient-centered system of integrated medical equipment that analyses and monitors patients' electronic health records (EHR). Medical gadgets connected via wireless network technologies allow medical care personnel to keep an eye on a patient at all times, even from afar. Hospitals are striving for thorough, accurate, and detailed medical device data to improve clinical outcomes and patient safety as medical device technology advances.
Global Medical Device Connectivity Market Scope
The medical device connectivity market is segmented on the basis of product and service, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product and Service
· Medical Device Connectivity Solutions
· Medical Device Connectivity Services
Technology
· Wired Technologies
· Wireless Technologies
· Hybrid Technologies
Application
· Vital signs and patient monitors
· Anesthesia machines and Ventilators
· Infusion pumps
· Others
End User
· Hospitals
· Home Healthcare Centers
· Diagnostic Centers
· Ambulatory Care Centers
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Medical Device Connectivity Market Regional Analysis/Insights
The medical device connectivity market is analyzed and market size insights and trends are provided by country, product and service, technology, application and end user as referenced above.
The countries covered in the medical device connectivity market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical device connectivity market because of the increasing consolidation amongst the healthcare providers and the extensive implementation of the clinical device connectivity and the strict guidelines by the several government and non-government authorities within the region.
Europe is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing disposable income and the rising healthcare expenses, advanced healthcare products, and the increasing disposable income within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Medical Device Connectivity Market Share Analysis
The medical device connectivity market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical device connectivity market.
Some of the major players operating in the medical device connectivity market are Cerner Corporation (US), Medtronic (Ireland), Masimo (US), Koninklijke Philips N.V. (Netherlands), General Electric Company (US), Stryker (US), iHealth Labs Inc., (US), Cisco (US), Lantronix Inc. (US), Infosys Limited (India), Silicon & Software Systems Ltd. (Ireland), Spectrum Medical (UK), Hill-Rom Services Inc. (US), Iatric Systems Inc. (US), Silex technology, Inc. (Japan), Digi International Inc. (US), Baxter (US), TE Connectivity (Switzerland), Bridge-Tech (U.S), and Medicollector (US) among others.
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Global Medical Device Connectivity Market by Product & Procedure type
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