Medical Device Connectivity Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Products and Service (Medical Device Connectivity Solutions and Medical Device Connectivity Services), Technology, End User, and Geography.

Medical Device Connectivity Market Snapshot

Medical Device Connectivity Market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Europe

Largest Market:

North America

CAGR:

18.4 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The medical device connectivity market is expected to register a CAGR of 18.4% over the forecast period. The major factors for the growth of the market include the rising implementation of electronic health records and health information exchange systems, an increase in the demand for telehealth and telemedicine technologies, and technological advancements in wireless technologies and bluetooth-enabled medical devices. Electronic data is a rapidly emerging topic in the healthcare IT market. Since its inception, the healthcare industry has generated huge amounts of data, driven by record keeping, compliance and regulatory requirements, and patient care. EHR databases and software provide rich resources to drive precision medicine development. According to the NCHS (National Center for Health Statistics) at the CDC (Center for Disease Control and Prevention), United States, the EHR adoption by primary care physicians increased from 72.1% in 2013 to 78.6% in 2014, recording an increase of 6.5%. During the same years, EHR adoption by specialists increased from 63.1% to 70.3%, recording an increase of 7.2%. Thus, considering rising adoption of EHR and connectivity between medical devices the market is expected to witness high growth over the forecast period.

Scope of the Report

As per the scope of the report, the medical device connectivity is the formation and maintenance of a connection through which data is transferred between a medical device, such as a patient monitor, and an information system. The market is segmented by Products and Service, Technology, End User, and Geography.

By Product & Service
Medical Device Connectivity Solutions
Medical Device Connectivity Services
By Technology
Wired Technologies
Wireless Technologies
Hybrid Technologies
By End User
Hospitals
Ambulatory Care Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

Report scope can be customized per your requirements. Click here.

Key Market Trends

Wireless Technologies Segment by Technology is Expected to Witness High Growth over the Forecast Period

The major factors driving the growth of the market include rising technological advancements and an increase in the adoption of medical device connectivity in healthcare facilities. The hospitals and other healthcare providers that leverage wireless medical devices provide increased patient safety, and data accuracy, resulting in overall improved patient care.

Hospitals are now being provided with the wireless local area network (WLAN) in the infrastructure. WLAN is mainly used in hospitals for the sake of communication, health data transmission, and monitoring patients. For instance, doctors and nurses can make a better clinical decision if they have the right patient information delivered through personal digital assistant (PDA) or phone. Such applications of  WLAN are helpful in promoting patient care and healthcare management.

The increasing burden of chronic diseases such as cancer is augmenting the demand for advanced technologies which is fuelling the wireless technology segment of the market.

Medical Device Connectivity Market

To understand key trends, Download Sample Report

North America is Expected to hold a Significant Market Share over the Forecast Period

North America is expected to hold a major market share in the global medical device connectivity market due to increasing cases of chronic diseases and increasing adoption of healthcare IT. The large healthcare spending in the country is due to the emergence of the novel technologies and rising awareness among general population about the health. In the efforts of making patient care easy, wireless tools are widely adopted in the nation. For instance, HealthIT.gov has stated that the United States Department of Health and Human Services (HHS) is looking forward to achieving an interoperable health IT infrastructure. The increased focus on health IT infrastructure is directly fueling the demand of medical device connectivity solutions. This is resulting in the growth of the market in the United States. Along with that, involvement of government organizations, such as CMS in the betterment of the healthcare IT sector is contributing in the growth of the market studied.

Medical Device Connectivity Market

To understand geography trends, Download Sample Report

Competitive Landscape

The medical device connectivity market is moderately consolidated market. Some of the market players in medical device connectivity market are Capsule Technologies, Inc., Cerner Corporation, Cisco Systems, GE Healthcare, Ihealth Lab, Infosys, Koninklijke Philips N.V., Lantronix, Inc., and NantHealth, Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Implementation of Electronic Health Records and Health Information Exchange Systems

      2. 4.2.2 Increase in the Demand for Telehealth and Telemedicine Technologies

      3. 4.2.3 Technological Advancements in Wireless Technologies and Bluetooth-Enabled Medical Devices

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Deployment and Complete Installation Limiting the Adoption of Advanced Solutions

      2. 4.3.2 Data Privacy and Security Concerns

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product & Service

      1. 5.1.1 Medical Device Connectivity Solutions

      2. 5.1.2 Medical Device Connectivity Services

    2. 5.2 By Technology

      1. 5.2.1 Wired Technologies

      2. 5.2.2 Wireless Technologies

      3. 5.2.3 Hybrid Technologies

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Care Centers

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Capsule Technologies, Inc.

      2. 6.1.2 Cerner Corporation

      3. 6.1.3 Cisco Systems

      4. 6.1.4 GE Healthcare

      5. 6.1.5 Ihealth Lab

      6. 6.1.6 Infosys Limited

      7. 6.1.7 Koninklijke Philips N.V.

      8. 6.1.8 Lantronix, Inc.

      9. 6.1.9 NantHealth, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Medical Device Connectivity Market market is studied from 2018 - 2026.

The Medical Device Connectivity Market is growing at a CAGR of 18.4% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Capsule Technologies, Inc.
  • Cerner Corporation
  • Cisco Systems
  • GE Healthcare
  • Infosys Limited

Are the major companies operating in Medical Device Connectivity Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!