Medical Device Connectivity Market Size, Share, Growth Report 2030

According to the report, global demand for Medical Device Connectivity market was valued at approximately USD 1.1 billion in 2019, and is expected to generate revenue of around USD 4.1 billion by end of 2026, growing at a CAGR of around 21.3 % between 2020 and 2026.

Global Medical Device Connectivity Market: Overview

The latest trend of the medical device connectivity allows the establishment of the connection of the various medical devices or equipment in the healthcare sector in order to share the information. The medical devices connectivity market is becoming very important owing to the fact that it allows better monitoring of the patients. The devices that are connected consist of very crucial information such as the device tracking system and the maintenance schedule. This connected device sends alerts to the physicians in case of emergency.

Global Medical Device Connectivity Market: Segmentation

The medical device connectivity market is globally segmented into its component, technology, and region. On the basis of the component, the global market is segregated into medical devices connectivity services and medical devices connectivity solutions. Based on the technology, the market is categorized into hybrid technologies, wireless technologies, and wired technologies. Geographically, the medical device connectivity market is diversified into regions such as Asia Pacific, North America, Europe, and Rest of the World.

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Global Medical Device Connectivity Market: Growth Factors

The medical device connectivity market is a growing market owing to factors such as better patient information and monitoring system, increasing demand for home healthcare due to emergence of technologies such as mobile-health, increasing aging population suffering from chronic diseases, reduction in the number of nursing hours due to the application of intelligent medical devices and optimal care provided to the patient due to increasing operational efficiency of the healthcare staff. Increasing level of automation of medical devices is further paving a market for medical device connectivity. Adoption of this technology is also helpful to serve number of patients. However, there are certain restraining factors to the market which include security concerns arising about patient’ privacy and important medical data, additional charges borne for providing connectivity to medical devices and operational and connectivity challenges arising at remote locations, especially in the developing countries.

Global Medical Device Connectivity Market: Regional Analysis

The dominant region in the medical device connectivity market is North America. North America is followed by Europe and Asia-Pacific region. The factors that attributed to the market growth in the North American region includes the accessibility to the technology in this region is high, rise in the funding and the investments made by the innovation of the medical sector, rising demand for the eHealth services and solutions in the health systems and big hospitals, the changing favorable regulations, and the increasing aged population. The market growth of the medical device connectivity in the European region can be attributed to the factor of the increasing geriatric population. The developing regions in the Asia Pacific region are taking initiatives to include the IT in the heath sector thus triggering the market growth.

Global Medical Device Connectivity Market: Competitive Players

The key market players that are involved in the medical device connectivity market include Bernoulli Enterprise Inc., Cerner Corporation, Digi International Inc., Honeywell Hommed Llc, Koninklijke Philips N.V., Medtronic Plc, Qualcomm Inc., TE Connectivity, Capsule Tech Inc., Cisco Systems Inc., GE Healthcare, Infosys Ltd., Lantronix Inc., Nanthealth Inc., and Siemens Healthcare Ag.

The report segments the Global Medical Device Connectivity market as follows:

Global Medical Device Connectivity Market: Component Segment Analysis

• Medical devices connectivity services
• Medical devices connectivity solutions

Global Medical Device Connectivity Market: Technology Segment Analysis

• Hybrid technologies
• Wireless technologies
• Wired technologies

Global Medical Device Connectivity Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa