Medical Device Connectivity Market to Grow with 16.1% CAGR during the Forecast Period (2018-2023): MRFR
Global medical device connectivity market is witnessing an upsurge with electronic health records (EHR) and health information exchange systems acting as perfect influencers. With a collaboration with IT industry and healthcare service providers, EHR has percolated healthcare industry in an effective manner giving rise to the use of medical device connectivity market. The global medical device connectivity market is all set to expand with an impressive 16.1% CAGR during the forecast period (2018-2023), reveals Market Research Future (MRFR) in detailed research. It includes decisions to provide optimum care to patients by having a network of the clinical plan, health plan, and analytic data and an effort to streamline physician workflows as chief drivers for the medical device connectivity market. The market is well-poised to better from this point onwards.
On the flip side, the high cost of deployment of such technology in smaller healthcare organizations can be considered detrimental for the medical device connectivity market in forthcoming years. At the same time, the demand for privacy has been threatened significantly by cybercrime which can dampen the growing enthusiasm related to the medical device connectivity market during the forecast period.
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Some of the key players in this medical device connectivity market are Qualcomm (U.S.), Cerner (U.S.), GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Bernoulli Enterprise (U.S.), Medtronic (U.S.), Cisco Systems (U.S.), Nanthealth (U.S.), Infosys (India), Lantronix (U.S.), True Process (U.S.), Ihealth Lab (U.S.), Nuvon, Inc, Stryker Corporation, eDevice, Inc., and others.
The Global Medical Device Connectivity Market can be segmented by products & services, technology, and end-user.
By products & services, the medical device connectivity market can be segmented into medical device connectivity solutions and medical device connectivity services. Medical device connectivity solutions comprise medical device integration solutions, telemetry systems, connectivity hubs, and interface devices. Whereas, medical device connectivity services include support and maintenance services, implementation and integration services, and training services.
Based on technology the medical device connectivity market can be segmented into wired technologies, wireless technologies, and hybrid technologies.
By end-user, the medical device connectivity market includes hospitals, home health care, ambulatory care centers, diagnostic centers, and others.
Region-specific analysis of the global medical device connectivity market leads to namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The world market is getting dominated by the Americas, mostly by North America. The presence of a country such as the U.S. is proving to be a decisive factor as technological advancements and elite-league healthcare infrastructure are aptly backing up the architecture needed for medical device connectivity implementation in the healthcare sector. The medical device integration solution segment can reap of the maximum benefit from such a market scenario.
Europe assumes the second position due to features similar to that of North America and efficient healthcare workforce and systems. Wearable patient monitoring devices are also gaining popularity which can be considered a perfect tailwind for the medical device connectivity market.
The APAC is expected to rise with the maximum CAGR. Regions such as India and Malaysia hold the key to further progress. These two countries are fast emerging as a medical tourism hub which is why technological integration is witnessing development taking place at express speed. However, the MEA market can only expect steady growth due to the presence of poor economies and weak infrastructure in the region.
The competitive medical device connectivity market witnesses impact created by strategic deployments from major companies that assist the market in growth. These tactics mostly include merger, acquisition, collaboration, and other methods. For instance, the merger of Canon and Toshiba Medical Systems has become a talking point. The new Canon Medical Systems is now eyeing on market expansion that includes medical device connectivity well within its purview. On the other hand, Medicare acquired Rock Pond Solutions, an analytic software company, to better their market prospect.
Table Of Content
1 Report Prologue
2 Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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LIST OF TABLES
Table 1 Medical Device Connectivity Industry Synopsis, 2018–2023
Table 2 Global Medical Device Connectivity Market Estimates And Forecast, 2018–2023, (USD Million)
Table 3 Global Medical Device Connectivity Market, By Region, 2018–2023, (USD Million)
Table 4 Global Medical Device Connectivity Market, By Product & Service, 2018–2023, (USD Million)
Table 5 Global Medical Device Connectivity Market, By Technology, 2018–2023, (USD Million)
Table 6 Global Medical Device Connectivity Market, By End-Users, 2018–2023, (USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Medical Device Connectivity Market
Figure 3 Segmentation Market Dynamics For Medical Device Connectivity Market
Figure 4 Global Medical Device Connectivity Market Share, By Product & Service2016
Figure 5 Global Medical Device Connectivity Market Share, By Technology2016
Figure 6 Global Medical Device Connectivity Market Share, By End-User, 2016
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