Medical Device Connectivity Market Expected to Reach $4542.9 million by 2026 – GE Healthcare, Cisco Systems, Lantronix, Cerner, Ihealth Lab, Bernoulli Enterprise, True Process, Infosys, Medtronic, Nanthealth
Medical Device Connectivity market is accounted for $772.3 million in 2017 and is expected to reach $4542.9 million by 2026 growing at a CAGR of 21.8%. Rising dispersion of EHRs & health information exchange systems in healthcare organizations, increasing focus on care quality and patient safety and technological advances in wireless technologies & Bluetooth-enabled medical devices are some of the factors favouring the market growth. However, data privacy & security concerns and lack of standard interfaces are hampering the market growth.
Medical device connectivity introduced to the establishment of the connection among various medical devices and equipment, in order to share patient information in a healthcare setting. It is used for improving clinical outcomes by saving the nursing time and improving the accuracy and timeliness of documentation, along with overall patient care and safety. With grow in the demand for medical devices online and as more caregivers want to incorporate wearable data into treatment plans and medical records, there is increasing emphasis on device connectivity and data interoperability.
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Based on products and services, medical device connectivity solutions segment has witnessed with significant growth due to the increased adoption of EHRs and other interoperability solutions in healthcare organizations, rising regulatory requirements & healthcare reforms and the increasing need for integrated healthcare systems to get better quality and outcome of healthcare. By end user, home healthcare segment is has acquired the significant growth. The growth in this segment is mainly attributed to the growing dependence of patients on telehealth solutions, such as remote monitoring via phones and the internet to manage their health conditions.
By geography, North America dominated the medical device connectivity market. Factors such as the presence of a huge number of healthcares IT companies and high implementation of medical device connectivity solutions for establishing interoperability to limit high healthcare costs are boosting the market growth.
Some of the key players in global medical device connectivity market include GE Healthcare, Cisco Systems, Lantronix, Cerner, Ihealth Lab, Bernoulli Enterprise, True Process, Infosys, Medtronic, Nanthealth, Philips Healthcare, Qualcomm, Siemens Healthcare, Digi International, Dragerwerk AG and eDevice Inc.
Product & Services Covered:
-Medical Device Connectivity Services
-Medical Device Connectivity Solutions
Components Covered:
-Wired Hardware
-Wireless Hardware
-Integration Software
Applications Covered:
-Respiratory Therapy
-Oncology
-Anesthesiology
-Home Healthcare
-Patient Monitoring
-Electronic Medical Record (EMR)
-Cardiology
-Other Applications
End Users Covered:
-Ophthalmology Clinics
-Research Centers
-Hospitals
-Imaging and Diagnostic Centers
-Community Healthcare
-Clinics
-Other End Users
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