Richmond, Feb. 21, 2024 (GLOBE NEWSWIRE) -- According to a research report "Medical Device Connectivity Market”, By Product & Services (Medical Device Connectivity Solutions {Medical Device Integration Solutions, Interface Devices, Telemetry Systems, Others}, Peripheral Technologies/ Medical Devices {Patient Monitoring Devices, Critical Care, Imaging Systems, Other Medical Devices}, Medical Device Connectivity Services {Implementation And Integration Services, Support & Maintenance Services, Training Services, Consulting Services, Others}), Technology (Wired Technologies, Wireless Technologies, Hybrid Technologies), Application (Vital Signs & Patient Monitors, Ventilators, Anesthesia Machines, Infusion Pump, Imaging Systems, Respiratory Devices, Others), End User (Hospitals & Surgical Centers, Home Care Settings, Maternity & Fertility Care, Trauma & Emergency Care, Tertiary Care Centers, Imaging & Diagnostic Cent, Ambulatory & OPD, Others)and Region - Global Forecast to 2030.
Global Medical Device Connectivity Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 3.1 Billion |
| Market size value in 2030 | USD 13.7 Billion |
| CAGR (2023-2030) | 23.6% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product & Services, Technology, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Medical Device Connectivity Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global medical device connectivity market occupies an essential role in the healthcare industry, driven by the growing demand for efficient and integrated healthcare systems. This market involves connecting medical devices, such as monitoring equipment and diagnostic tools, to information technology systems. The main goal is to make data collection smoother, improve communication between devices, and enhance overall patient care. The rise of digital health solutions, the need for real-time patient monitoring, and the desire to use data analytics for better clinical decisions are contributing to the increasing adoption of medical device connectivity.
Several factors, including the increasing prevalence of chronic diseases and an aging population, are driving the demand for connectivity solutions in healthcare. Healthcare providers are investing more in these solutions to create a smooth flow of information between different devices and platforms, leading to improved efficiency and better patient outcomes. Additionally, regulatory initiatives and standards for interoperability and data security are shaping the market, encouraging manufacturers to develop compliant solutions. As the healthcare industry continues its digital transformation, the medical device connectivity market is expected to grow, offering opportunities for innovation and collaboration among healthcare organizations, device manufacturers, and technology providers to create a connected system that improves the quality of care and patient experience.
Major Vendors in the Global Medical Device Connectivity Market:
- Bridge-Tech Medical
- Cisco Systems, Inc.
- Digi International Inc.
- Drägerwerk AG & Co. KGaA
- GE Healthcare
- Honeywell International Inc.
- Infosys
- KMS Healthcare
- Koninklijke Philips N.V.
- LANTRONIX, INC.
- Masimo
- MediCollector
- Oracle
- Silex Technology America, Inc.
- Stryker
- TE Connectivity
- Wipro
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Increasing Awareness about the Benefits of Real-Time Patient Monitoring
One of the primary drivers for the global medical device connectivity market is the increasing awareness about the benefits of real-time patient monitoring. As healthcare professionals and investors better understand the substantial benefits of having continuous and immediate access to patient data, there has been a prominent increase in the demand for connectivity solutions. Real-time patient monitoring provides a dynamic approach to healthcare by allowing for prompt and timely interventions based on live data from various medical devices. This awareness has been raised by the positive impact it demonstrates on patient outcomes, including the early detection of abnormalities, swift responses to critical situations, and overall improvement in the quality of care. Healthcare practitioners are increasingly embracing the concept that real-time monitoring allows for more personalized and patient-centered care. The availability of real-time data enhances healthcare decision-making, enabling clinicians to make well-informed choices based on the most current and accurate information.
Market Dynamics
Drivers:
- Increasing aging population and higher healthcare needs
- Rise in improved operational efficiency in healthcare institutions
- Technological innovations in information and communication technology
Opportunities:
- Increased demand for remote patient monitoring
- Growing prevalence of chronic diseases
- Rising advancements in data analytics
- Rising importance of digital health solutions for innovation in the Medical Device
Increased Demand for Remote Patient Monitoring
The growing opportunity in the medical device connectivity market is driven by an increased need for remote patient monitoring. This rise in demand is driven by a growing understanding of the advantages associated with monitoring patients from a distance in real-time. Remote patient monitoring enables healthcare providers to extend their services beyond traditional healthcare settings, allowing continuous observation of patient's vital signs and overall health without the necessity of frequent in-person visits. This is especially beneficial for individuals with chronic conditions, elderly patients, and those in need of postoperative care, as it facilitates timely intervention and proactive management. The increasing demand for remote patient monitoring is closely linked to the broader trend of digital health solutions and technological advancements in medical devices. The introduction of wearable devices and mobile health applications further contributes to the ease of remote monitoring, allowing patients to transmit real-time data to healthcare providers seamlessly. As healthcare delivery models continue to adapt, the growing demand for remote patient monitoring creates a productive ground for the expansion of the medical device connectivity market, providing a vision for innovative solutions and collaborative efforts to form the future of connected healthcare.
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North America dominates the market for Medical Device Connectivity.
The medical device connectivity market displays distinct trends in North America, particularly in the United States and Canada, the market is driven by a huge healthcare infrastructure, widespread technology adoption, and severe regulatory frameworks. The higher adoption of medical device connectivity solutions is influenced by the increasing prevalence of chronic diseases and a well-established healthcare system. Market growth is further driven by the demand for remote patient monitoring and a focus on data-driven healthcare practices. Collaborations between healthcare institutions and technology providers are common, promoting innovation and the integration of advanced connectivity solutions.
In the Asia Pacific, the medical device connectivity market is observing significant growth, propelled by rising healthcare investments, growing awareness of digital health, and improved healthcare access in countries such as China, Japan, and India. The region's diverse healthcare landscape and the adoption of mobile health technologies contribute to the demand for connected medical devices. Government initiatives to enhance healthcare infrastructure and improve patient outcomes also play a significant role in driving market expansion.
The Telemetry Systems Segment is anticipated to hold the Largest Market Share during the Forecast Period
In the global medical device connectivity market, the medical device connectivity solutions segment comprises various categories such as Medical device integration solutions, Interface devices, Telemetry systems, and Others. The telemetry systems segment is an important part of the medical device connectivity market, offering advanced solutions for remote monitoring and data transmission. These systems allow the smooth transfer of medical data from various devices to centralized healthcare systems, enabling real-time monitoring of vital signs like heart rate and blood pressure. This capability is particularly valuable in critical care and postoperative recovery. The increasing adoption of telemetry systems stems from the rising demand for continuous patient monitoring, contributing to better patient outcomes through early detection of abnormalities and timely interventions. The integration of telemetry systems also supports the trend towards telehealth and remote patient monitoring, in line with the ongoing digital transformation in healthcare. As technology progresses, the telemetry systems segment is composed for further innovation to meet the evolving needs of healthcare providers, ultimately enhancing the overall efficiency and effectiveness of the medical device connectivity market.
Segmentations Analysis of Medical Device Connectivity Market: -
- By Product & Services
- Medical Device Connectivity Solutions
- Medical Device Integration Solutions
- Interface Devices
- Telemetry Systems
- Others
- Peripheral Technologies/ Medical Devices
- Patient Monitoring Devices
- Critical Care
- Imaging Systems
- Other Medical Devices
- Medical Device Connectivity Services
- Implementation And Integration Services
- Support & Maintenance Services
- Training Services
- Consulting Services
- Others
- Medical Device Connectivity Solutions
- By Technology
- Wired Technologies
- Wireless Technologies
- Hybrid Technologies
- By Application
- Vital Signs & Patient Monitors
- Ventilators
- Anaesthesia Machines
- Infusion Pump
- Imaging Systems
- Respiratory Devices
- Others
- By End User
- Hospitals & Surgical Centers
- Home Care Settings
- Maternity & Fertility Care
- Trauma & Emergency Care
- Tertiary Care Centers
- Imaging & Diagnostic Cent
- Ambulatory & OPD
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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