Industry Trend Analysis
The global medical device connectivity market is projected to be around $2.1 billion by 2025. This is attributed to factors such as rising need to downsize healthcare cost, growing need to integrate healthcare systems for improving quality of care, and efforts of healthcare providers to maximize their return on investment. In addition, rising demand for home healthcare is further leading to increase adoption of medical device connectivity solutions. However, high cost of installation, resistant from healthcare professionals to adopt highly sophisticated IT solutions, and lack of standard interface are set to hamper uptake of these devices by healthcare professionals globally.
Product Outlook and Trend Analysis
Medical device connectivity services segment dominated the global market in 2016, primarily due to need of effective implementation and demand for maximum utilization of connectivity services. Wired hardware accounted for largest share in 2016 and is predicted to maintain its leading position during forecast period. Wireless hardware is expected to grow at highest rate because of various benefits such as portability and cost effectiveness. However, new versions with minimum cost, low energy consumption, and compact size will drive the demand for wireless technology such as Wi-Fi and Bluetooth.
Regional Outlook and Trend Analysis
North America dominated the global market in 2016 because of better accessibility to advanced technology, high adoption rate of new technologies, increasing need for data mining and analytics, healthcare information systems and need for safety and quality of care for patients. Asia-Pacific is projected to witness high growth because of increasing demand for quality health care and information systems.
Major players operating in this market are Capsule Tech Inc., Cerner Corporation, Philips Healthcare, Digi International Inc., Cisco Systems Inc., Siemens Healthcare, Honeywell HomMed LLC, Dräger Medical GmbH, eDevice Inc., Qualcomm Inc., Lantronix Inc., Bernoulli Enterprise, Inc., and GE Healthcare.
Medical Device Connectivity Market Segmentation :
By Component :
Medical Device Connectivity Services
Medical Device Connectivity Solution
Rest of Europe
Rest of Asia-Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?