The Global Medical Device Connectivity Market size was estimated to be US$ 1.2 billion in 2019 and is expected to grow at a CAGR of 22% through 2030.
Medical device connectivity is an establishment of devices for seamless data transfer between medical devices and information systems. The solution offered by the companies includes a software development kit that allows access to patient’s data for EMR integration. The stored device data can further be accessed by EMRs and clinical information systems that can be utilized for the diagnosis and treatment of patients.
Increasing demand for personalized care solutions is driving the medical device connectivity market. Rising number of chronic patients across the globe with variation in disease and treatment is fueling the demand for medical device connectivity solutions. Introduction of the internet of medical things is creating new market opportunities for the medical device connectivity market.
The market players are launching new wired and wireless technologies to support healthcare applications. Medical device networking is used as a tool to provide real-time data through Bluetooth, Wi-Fi, LoRa, and cellular technology. Mobile carts are used in hospitals to relocate patients for medical tests and are equipped with portable glucose and portable heart monitors which can be monitored remotely using different connecting networks. The introduction of such technologies is aiding doctors for better treatment facilities with more accuracy. The global medical device connectivity market is focusing on expanding business operations through mergers and acquisitions across the globe. This has intensified the competition in the market and is expected to contribute towards the growth of the global medical device connectivity market during the forecast period.
North America contributed a dominating share to the global medical device connectivity market in terms of revenue and volume in 2019 and is expected to be dominating geography throughout the forecast period. Among the North American countries, the U.S. is the major consumer of advanced technologies. Increasing government investment in transformation and digitization of healthcare infrastructure is fueling the medical device connectivity market. Installation of digitized systems across hospitals and advanced clinics has made diagnosis and treatment easy.
The healthcare centers are connecting their labs, pharmacies, reports, and other medical documents with the central server so that the data can be retrieved any time while checkups and treatment. Asia Pacific region is emerging as the major for medical device connectivity. Countries such as China, Japan, South Korea, Australia, and India are transforming their healthcare infrastructure. The government authorities in these regions are investing in the installation of 5G infrastructure to boost networking technology. Moreover, telecom technology developers such as Huawei is investing more in R&D activities for the cost-effective operation of medical and digitized devices. Advancement in telecom infrastructure will accelerate the data transmission speed allowing medical facilities to upload and download the information in less time. Such parameters will fuel the demand for medical device connectivity in the forecasted period.
Medical device connectivity Market Share Analysis, by Geography (2021)
The report titled “Medical Device Connectivity Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032” wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global medical device connectivity market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global medical device connectivity market is segmented on the basis of component, end user and geography. Based on component, the global medical device connectivity market is segmented into wireless hardware, wired hardware and software. Based on end user, the global medical device connectivity market is segmented into hospitals, home healthcare, ambulatory care centers and others. Based on geography, the global medical device connectivity market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Indonesia, Australia, South Korea, Taiwan, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on medical device connectivity. Further, market share of prominent companies in the global medical device connectivity market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the medical device connectivity companies. The global medical device connectivity market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the medical device connectivity business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global medical device connectivity market.
Major players active in the global medical device connectivity market include Cardiopulmonary Corporation and Qualcomm Inc., GE Healthcare Ltd., Philips Healthcare, Cerner Corporation, Digi International Inc., eDevice Inc., Cisco Systems Inc., Honeywell HomeMed LLC, Siemens Healthcare
Market Segmentation:
By Component:
By End Use:
By Geography :
The global market for medical device connectivity will most likely expand at over 22% CAGR through 2030.
Rising number of chronic patients across the globe with variation in disease and treatment is fueling the demand for medical device connectivity solutions.
North America contributed a dominating share to the global medical device connectivity market in terms of revenue and volume in 2019 and is expected to be dominating geography throughout the forecast period.
Major players operating in the global medical device connectivity market include Cardiopulmonary Corporation and Qualcomm Inc., GE Healthcare Ltd., Philips Healthcare, Cerner Corporation, Digi International Inc., eDevice Inc., Cisco Systems Inc., Honeywell HomeMed LLC, Siemens Healthcare and others.
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