Market Analysis: Global Medical Device Connectivity Market
Global medical device connectivity market is expected to rise to an estimated value of USD 10.54 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rising adoption of remote monitoring capabilities in healthcare services along with increasing the quality of services and safety of patients.
Market Definition: Global Medical Device Connectivity Market
Medical device connectivity is the application of digital technology which involves connecting the medical devices providing treatment and being used for servicing the patients to be connected with a central network, this technology is then used to control the usage, administer therapeutics, supply continuous remote monitoring and accompanying data, etc. The application of this technology results in lower cost of treatment, as well as providing better diagnosis based on the collected patient data.
- High rates of infiltration of digital services such as EHR’s and patient data in healthcare organizations; this factor is expected to drive the growth of the market
- Rising levels of policies adoption resulting in better healthcare IT services; this factor is expected to drive the growth of the market
- Connectivity of medical devices and services being provided to patients in healthcare settings provide lower costs and helps provide better analysis of patient data; this factor is expected to drive the growth of the market
- Large costs associated with the integration of these services in case of small-scale healthcare organizations; this factor is expected to restrain the growth of the market
- Unwillingness in preference and adoption of digital healthcare IT services; this factor is expected to restrain the growth of the market
Segmentation: Global Medical Device Connectivity Market
By Product & Service
- Integration Solution
- Telemetry Systems
- Connectivity Hubs
- Interface Devices
- Support & Maintenance Services
- Implementation & Integration Services
- Training Services
- Wireless Hardware
- Web Map Tile Service (WMTS)
- Wired Hardware
- Wired Technologies
- Wireless Technologies
- Hybrid Technologies
- Home Healthcare
- Ambulatory Care Centers
- Imaging & Diagnostic Centers
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In February 2019, Francisco Partners announced that they had acquired Qualcomm’s business operation branded as “Qualcomm Life”. The acquired operations deal in providing end-to-end medical device connectivity across the different stages of healthcare services. The business operations will be divided into two organizations namely, “Capsule Technologies, Inc.” and “2net”. Capsule will provide connectivity capabilities of medical devices to hospitals while 2net will focus on providing a mobile platform for medical services.
- In January 2019, Baxter announced that they had acquired True Process. This acquisition includes “True Process’” “Vines” software platform which has been created to collect the patient data from devices connected at the bedside and normalization of these devices. This acquisition will help in greater innovations and provision of specific care healthcare services for individual patients.
Competitive Analysis: Global Medical Device Connectivity Market
Global medical device connectivity market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical device connectivity market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Medical Device Connectivity Market
Few of the major competitors currently working in the global medical device connectivity market are GENERAL ELECTRIC COMPANY; Cisco; Koninklijke Philips N.V.; iHealth Labs Inc.; Capsule Technologies, Inc.; Baxter; Cerner Corporation; Bernoulli; Medtronic; Silex Technology, Inc.; McKesson Corporation; NantHealth, Inc.; Infosys Limited; Lantronix, Inc.; Spectrum Medical; Digi International Inc.; Siemens Healthcare GmbH; eDevice and Drägerwerk AG & Co. KGaA.
Research Methodology: Global Medical Device Connectivity Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global medical device connectivity market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)