The Global Medical Device Connectivity Market is expected to grow at an approximate CAGR of 16.1% during the forecast period, 2018–2023. Moreover, the increasing penetration of Electronic Health Records (EHRs) and health information exchange systems in healthcare organizations, are the factors responsible for the market growth.
Major factors responsible for the market growth are penetration of EHRs through the collaboration between IT service providers and healthcare service providers. For instance, in 2016, Allscripts Technologies signed a ten years strategic agreement with Optumcare to deploy Allscripts TouchWork suite as its exclusive Electronic Health Record (EHR) and Practice Management (PM) solution for physicians. The strategic agreement will provide physicians with the clinical, health plan, and analytic data that will further enhance the high-quality care they provide to their patients. Moreover, in 2016, market players such as Cerner and Sharp Healthcare came together to extend its Electronic Health Record (EHR) to the Sharp Community Medical Group. Through the expanded relationship with Cerner, Sharp will utilize an integrated platform to create consistencies by streamlining physician workflows and care team communications for transitions of care. All such instances are expected to boost the medical device connectivity market.
Medical Device Connectivity Market Segmentation:
The global medical device connectivity market is segmented on the basis of products and services, technology, and end-user. By products and services, the market is segmented into medical device connectivity solutions and medical device connectivity services. Medical device connectivity solutions are further segmented into medical device integration solutions, telemetry systems, connectivity hubs, and interface devices. Whereas, medical device connectivity services are further segmented into support and maintenance services, implementation and integration services, and training services. Based on application the market is segmented into anesthesiology, respiratory therapy, dialysis, cardiology, oncology, home healthcare, and others. Based on technology the market is segmented into wired technologies, wireless technologies, and hybrid technologies. By end-user, the market is segmented into hospitals, ambulatory care centers, diagnostic centers, and others. The global medical device connectivity market, by region, is majorly categorized into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American medical device connectivity market is segmented into two regions, namely, North America and South America.
The European region includes both Eastern and Western European countries which are involved in the deployment of medical device connectivity. The countries that are majorly involved in the medical device connectivity market are the U.K., France, Germany, Spain, and Italy, among others.
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Some of the key players in this market are Qualcomm (U.S.), Cerner (U.S.), GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Bernoulli Enterprise (U.S.), Medtronic (U.S.), Cisco Systems (U.S.), Nanthealth (U.S.), Infosys (India), Lantronix (U.S.), True Process (U.S.), Ihealth Lab (U.S.), Nuvon, Inc, Stryker Corporation, eDevice, Inc., and others.
The Americas dominates the global medical device connectivity market owing to the increasing application in the healthcare IT industry and presence of a well-developed healthcare sector within the region. Moreover, the increasing healthcare expenditure, growing geriatric population, and presence of key players within the regional boundaries provide a favorable background for the market growth.
Europe is the second largest in the global medical device connectivity market. Factors such as the increasing availability of funds for research and a huge patient population followed by a well-developed healthcare sector drive the market within the region.
Asia Pacific is estimated to be the fastest growing market for medical device connectivity. This can be attributed to the presence of developing economies such as India and China and increasing patient population. Moreover, the increasing healthcare expenditure and a rapidly developing healthcare sector boost the market growth within the region.
On the other hand, the Middle East and Africa has the least share in the global medical device connectivity market due to the low per capita healthcare expenditure and stringent government policies, especially within the African region. It is estimated that the Middle East holds a majority of the market within the Middle Eastern and African region.
Table Of Content
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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