The Global Medical Device Connectivity Market has accounted for USD 5.7 billion in 2016 and is expected to reach USD 46.4 billion by 2024, growing at a CAGR of 30.1% in the forecasted period 2017 to 2024.
Global Medical Device Connectivity Market, By Type (Integration Software, Connectivity Hardware (Wired, Wireless (Wi-Fi, WMTS, Bluetooth), By Applications (Electronic Medical Record, Patient Monitoring, Others), By End-User (Hospitals, Community Healthcare, Clinics, Others), By Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa) – Industry Trends and Forecast to 2024
The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The growth of this market is owing to new regulations such as “meaningful use” requirements, the implementation of ACO’s and some other recent changes in the federal healthcare regulations such as medicare and Medicaid incentive and penalty plans are driving change in this market. One of such change is meaningful requirement for documenting blood pressure in EMR will increase from 50% to 80% on all patients.
the need to accurately store and analyze data for improved healthcare quality is affectively driving the growth of this market.
now HDO resources needs to maintain customized interfaces and maintain manual data feeds from devices. Some other drivers in this market is remote patient monitoring, transition of point of care devices from hospitals to home healthcare and the growth of telehealth and telemedicine market among others.
Global Medical Device Connectivity Market :Segmentation
The global medical devices connectivity market is segmented based on product type application, end user and geography.
On the basis of product the market is segmented into integration software and connectivity hardware. Connectivity hardware is further segmented based on product types into wired and wireless solutions.
Wired solutions include segments such as Wi-Fi, Bluetooth and WMTS.
Based on end users the market is segmented into hospitals, community healthcare, clinics and others. Hospitals segment dominate the market with more than 60% market share in 2016 and is expected to grow at the highest CAGR of 35.2% in the forecast period 2017 to 2024.
On the basis of application the market is segmented into electronic medical record (EMR), patient monitoring and others.
Major Player Of Global Healthcare IT Market:
Some of the major players in this market are Cerner Corporation, Koninklijke Philips N.V., Digi International Inc., McKesson Corporation, Cisco Systems Inc., Medtronic, Inc., Siemens Healthcare GmbH, Honeywell HomeMed LLC, Drägerwerk AG & Co. KGaA, eDevice Inc., Qualcomm Inc., Lantronix Inc., GE Healthcare Ltd., Silex Technology America, Inc., NantHealth, Spectrum Medical and, True Process, Inc.
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