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Medical Device Connectivity Market by Product Technology End User - Global Forecast to 2023

Medical Device Connectivity Market: Global Forecast until 2023

  • April 2018
  • 206 pages
  • ID: 5391629
In this report:
The wireless technologies segment is expected to register the highest CAGR of ##.##% from 2018 to 2023 mainly due to its advantages over wired technology and the growing need to reduce healthcare costs while adhering to regulatory requirements.
This market is expected to reach USD ##.## million by 2023 from USD ##.## million in 2018, at a CAGR of ##.##% during the forecast period.

Summary

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The medical device connectivity market is estimated to grow $2670.30M by 2023 from $939.40M in 2018, at a compound annual growth rate (CAGR) of 23.20 percent. The rise in this sector is assigned to the growing penetration of EHRs & health information exchange systems in healthcare organizations, increasing focus on care quality and patient safety, healthcare IT initiatives driving the integration of medical devices with hospital information systems, and the increasing need to curtail healthcare costs through a connected healthcare environment.

The medical device connectivity services segment is anticipated to grow at the maximal CAGR during the estimate period

On the basis of products and services, the medical device connectivity market is split into medical device connectivity solutions and medical device connectivity services.The medical device connectivity services segment is projected to record the maximal CAGR (Compound annual growth rate) during the outlook period.

This industry is primarily influenced by the need for effective implementation and demand for maximum utilization of connectivity solutions.

The wireless technology segment is expected to record the maximal compound annual growth rate (CAGR) during the estimate period

On the basis of technology, the sector is divided into three segments, that is, wired technologies, hybrid technologies, and wireless technologies.The wireless technologies segment is projected to register the highest CAGR (Compound annual growth rate) during the outlook period.

The high adoption of wireless technologies is essentially attributed to the different advantages it affords including increased efficiency/productivity of workers, reduced operating costs, improved quality of care, and faster treatments.

The hospitals segment recorded for the most important share of the medical device connectivity market in 2017

Established on final user, the overall medical device connectivity market is broken down into hospitals, home healthcare, ambulatory care settings, and imaging & diagnostic centers.In 2017, the hospitals segment controled the medical device connectivity market.

The important share of this segment is assigned to the growing need to enhance the operational efficiency of healthcare organizations by reducing medical errors, growing demand for high-quality care, increasing need for curtailing healthcare costs, and increasing emphasis on interoperability in healthcare organizations.

North America continent to register the maximum growth rate in the medical device connectivity market during the estimate period

North America (NA) recorded for the biggest share of the medical device connectivity market, succeeded by Europe (EU).North America continent is also anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period.

Elements such as growing funding towards innovative projects in the medical market, need to curtail the escalating healthcare costs in the USA, the presence of a big number of healthcare IT firms, rising investments in the healthcare sector by top market players, and increasing awareness about advanced technologies are driving the increase of the market.

Break of primary members taking part was as mentioned below:

• By Company category - Tier 1 - 42.0 percent, Tier 2 - 38.0 percent and Tier 3 - 20.0 percent

• By Description - C-suite - 40.0 percent, D-level - 35.0 percent, Others - 25.0 percent

• By Area - North America (NA) - 35.0 percent, EU - 30.0 percent, Asia-Pac - 20.0 percent, RoW - 15.0 percent

The main players in the medical device connectivity market are GE Healthcare (GE subsidiary), Qualcomm, Cerner (NASDAQ:CERN), Philips, Medtronic, Cisco (NASDAQ:CSCO), Infosys Limited, Digi International, NantHealth, Bernoulli Enterprise, True Process, iHealth Labs, and Lantronix.

Segment Research

The industry report examines the medical device connectivity market and aims at estimating the market value and upcoming growth potential of this market established on several segments including product & service, technology, and end user.The study also comprises an detailed regulatory study for several areas across the world and competitive review of the top actors in this sector together with their company descriptions, product and service offerings, latest developments, and key industries strategies.

This market report also offers market information on North America continent, Europe (EU), Asia Pacific (APAC), and the Rest of the globe.

Reasons to Buy the Report

The analysis will increase established companies as well as new entrants/smaller companies to measure the pulse of the sector, which in turn would help garner a greater share. Companies obtaining the market research could use one or any combination of the below mentioned five strategies.

This business report offers business insights on these pointers:

• Market Uptake: Exhaustive data on product and service portfolios provided by the top actors in the medical device connectivity market. This industry report examines the sector by product and service, technology, end-user, and area

• Product Development/Innovative products: In-depth understanding on the next trends and product and service launches in the medical device connectivity market

• Market Development: Highlighted information about the profitable emerging sectors for medical device connectivity

• industry diversification: Complete information about recent products and services, increasing regions, recent evolutions, and market investments in the medical device connectivity market

• opposing assessment: Detailed assessment of market shares, increase strategies, products, services, and technological capabilities of the leading actors in the medical device connectivity market

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