Increasing demand for better medical device management in the healthcare industry and rising need for automatic data entry systems in healthcare facilities are key factors driving market growth.
Vancouver, BC -- (SBWIRE) -- 04/26/2021 -- The global medical device connectivity market size reached USD 1.49 Billion in 2020 and is expected to register a CAGR of 24.3%, during the forecast period, according to latest analysis by Emergen Research. Global medical device connectivity market revenue is expected to expand significantly during the forecast period due to increasing demand for better medical device management in the healthcare industry.
The medical device integration segment is expected to lead in terms of revenue share and register a significantly robust CAGR during the forecast period. Integration of medical devices is a software-based solution that remotely collects and combines the patient's vital signs through various medical devices at the same time, and deployment of this software has been increasing due to convenience in terms of usage, which is expected to drive revenue growth of this segment going ahead.
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Some Key Highlights in the Report
Rising adoption of medical device connectivity systems to incorporate medical devices with Electronic Medical Records and Electronic Health Records is driving revenue growth of implementation & integration segment.
The wireless segment is expected to lead in terms of revenue share contribution to the global market during the forecast period. Wireless systems enable offering of high level of healthcare service and improved treatments as doctors constantly receive real-time information about patients, and this is a key factor driving preference across healthcare sectors.
The hospital segment is expected to lead in terms of revenue share among the end-use segments during the forecast period. Rising adoption of Electronic Health Records (EHRs) in hospitals is projected to fuel revenue growth of this segment during the forecast period.
Key market players include Infosys Limited, Cisco Systems, Inc., Medtronic plc, Cerner Corporation, Digi International Inc., Lantronix, Inc., Masimo Corporation, Stryker Corporation, Qualcomm Inc., and Baxter International Inc.
In January 2021, Stryker Corporation announced that it had acquired OrthoSensor, Inc., which is a privately owned firm that utilizes intelligent tools and data to ensure that surgeons and hospitals make data-driven, evidence-based assessments. The latter is deemed a pioneer in the joint replacement sensor technology and its offerings are designed to supplement Stryker's range of smart technologies along with the make smart robotics device.
Medical Device Connectivity Market Segmentation:
Emergen Research has segmented the global medical device connectivity market on the basis of solution, service, technology, end-use, and region.
Solution Outlook (Revenue, USD Billion; 2018–2028)
Interface Devices
Telemetry Systems
Connectivity Hubs
Medical Device Integration
Service Outlook (Revenue, USD Billion; 2018–2028)
Training
Support & Maintenance
Consulting
Implementation & Integration
Technology Outlook (Revenue, USD Billion; 2018–2028)
Wireless
Wired
Hybrid
End-use Outlook (Revenue, USD Billion; 2018–2028)
Ambulatory Care Centers
Hospitals
Diagnostic & Imaging Centers
Home Healthcare Centers
Others
Key Regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Elucidating the competitive scenario of the Global Medical Device Connectivity Market:
The comprehensive global Medical Device Connectivity market analysis includes meaningful insights into the competitive spectrum of this business sphere. It goes on to enlist the detailed profiles of each market competitor.
The latest report includes the industry share, production facilities, development prospects,and geographies served by each market player.
The study also showcases the extensive product portfolios of the prominent market contenders and offers critical data and information about the application scope, as well as specifications of these products.
In addition, the study presents the fundamental market insights, pricing range of products offered by these companies, and the gross profits and losses experienced by these players throughout their market tenures.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Medical Device Connectivity Market Segmentation & Impact Analysis
4.1. Medical Device Connectivity Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The increasing demand for better medical device management in the healthcare industry
4.2.2.2. The rising need for automatic data entry system in healthcare facilities
4.2.2.3. Rising demand for data analytics solution in the healthcare industry
4.2.2.4. The rising emphasis on patient safety and quality of care
4.2.3. Market restraints analysis
4.2.3.1. The inability to adopt digital Information technology systems by end users
4.2.3.2. High deployment cost
4.2.3.3. Issues related to cyber-attacks
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Medical Device Connectivity Market By Solution Insights & Trends Revenue (USD Billion)
5.1. Solution Dynamics & Market Share, 2019 & 2027
5.1.1. Interface Devices
5.1.2. Telemetry Systems
5.1.3. Connectivity Hubs
5.1.4. Medical Device Integration
CONTINUED..!!
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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