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23.2% CAGR for medical device connectivity market to 2023 and projected to spread US$ 2,670.3 million

Medical Market Research

The medical device connectivity market is projected to reach USD 2,670.3 million by 2023 from USD 939.4 million in 2018, at a CAGR of 23.2%. Growth in this market attributed to increasing penetration of EHRs & health information exchange systems in healthcare organizations, growing focus on care quality and patient safety, healthcare IT initiatives driving integration of medical devices with hospital information systems.

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Medical device connectivity market segmented into two segments, namely, medical device connectivity services and solutions. On basis of technology, market segmented into three segments, namely, wired connectivity, wireless connectivity, and hybrid technology.

On basis of end user, global medical devices connectivity is segmented into three segments, namely, hospital & clinics, home healthcare, & imaging & diagnostic centers.

Key Target Audience of Medical Devices Connectivity Market is as Follows:

  • Hospitals and Clinics
  • Medical Research and Development (R&D) Companies
  • Healthcare IT Companies
  • Medical Device Companies
  • Medical Devices Connectivity Solutions’ Vendors
  • Imaging and Diagnostic Centers
  • Market Research and Consulting Firms
  • Venture Capitalists and Investors

Key insights and medical devices connectivity market sizing for the different end users of the medical device connectivity market namely, hospitals & clinics, home healthcare, and diagnostic & imaging centers. It provides key insights on market dynamics, such as drivers, restraints, opportunities, and challenges for this market.

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Geographically, medical device connectivity market segmented into North America, Europe, Asia-Pacific, & Rest of the World. Major share of this region can be attributed to better accessibility to technologies, strong government support and initiatives, increasing need for data analytics in healthcare, increasing implementation of EHRs, healthcare information exchange systems, and growing focus on quality of care and patient safety.

Global medical device connectivity market, by Component

  • Medical devices connectivity solutions
  • Medical devices connectivity services

Global medical device connectivity market, by Technology

  • Wireless technologies
  • Wired technologies
  • Hybrid technologies

Medical device connectivity market strategic players are Qualcomm Inc. (U.S), Cerner Corporation (U.S.), NantHealth, Inc.

(U.S.), Bernoulli Enterprise Inc. (U.S.), GE Healthcare (U.S.), Digi International Inc.

(U.S.), Cisco Systems, Inc. (U.S.), Lantronix, Inc. (U.S.), Philips Healthcare (Netherlands), and Infosys Limited (India).

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Medical devices connectivity services segment accounted for largest share of market. Medical device connectivity solutions segment expected to grow at a higher CAGR of around 28% during forecast period.

This growth can be attributed to factors like increased adoption of EHRs and other interoperability solutions in healthcare organizations, growing regulatory requirements & healthcare reforms, shift of point-of-care diagnostics from hospital to home care settings.

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