Medical Device Connectivity Market is Expected To Get US $ 2.1 billion by 2025

A research study titled, “Medical Device Connectivity Market by Technology and Component - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the Medical Device Connectivity Market is projected to be around $ 2.1 billion by 2025.

Medical device connectivity is installation and maintenance of connection which is used to transfer data between medical devices and information systems. It is gaining significant importance as it facilitates exchange and access of vital information which is necessary for better patient information exchange and monitoring. These devices carry vital information such as patient’s history, maintenance schedule, and real time patient tracking information for providing best available care to patients. Increase in geriatric population, rise in incidences of chronic diseases, rise in demand for homecare devices, and advanced technologies (such as mobile health, and wireless and Wi-Fi enabled patient monitoring) will play a key role in growth of the market during the forecast period. Various healthcare providers and institutes are highly focused on advancing medical device connectivity as medical device dataneeds to be more reliable, accurate and standardized to improve clinical outcomes and patient safety.

Medical device connectivity services segment dominated the global market in 2016. This can be attributed to increase in demand for maximum utilization of connectivity services by end users. However, medical device connectivity solutions segment will experience robust growth over the forecast period due to rising adoption of interoperability solutions and electronic health record (EHR) systems in healthcare organizations. Technological advancements in wireless technology such as Wi-Fi and Bluetooth enable medical devices for monitoring will further contribute to the market growth.

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U.S. dominated the North American medical connectivity devices market in 2016, due to the rising adoption of home care medical devices to manage and improve prolonged medical conditions. As medical device connectivity facilitates connection between physicians and medical devices, it becomes convenient to continuously monitor patients’ health parameters. Emerging economies such as India and China will witness favorable growth for medical devices connectivity market over the forecast period due to rising demand for advanced healthcare services in these countries.

Strategic collaborations and acquisitions are the major strategies adopted by the leading companies in medical device connectivity market. For instance, in September 2015, Qualcomm Life Inc. acquired Capsule Technologies, a global leading provider of clinical data management and medical device integration solutions.Likewise, in October 2014, Philips Healthcare collaborated with Eseye, global provider of M2M cellular connectivity, for supplying Multi-IMSI AnyNet connectivity for their telehealth platform, Philips Motiva.

Some of the key players in the medical devices connectivity market are Phillips Healthcare, Siemens Healthcare, GE Healthcare, Cerner Corp., Honeywell HomeMed LLC, Dräger Medical GmbH, eDevice Inc., Capsule Tech, Qualcomm Inc., Lantronix Inc., and Cardiopulmonary Corporation.

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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.

Competitive Analysis

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

By Technology:

• Wired Technologies
• Wireless Technologies
• Hybrid Technologies

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