Data Bridge Market Research conducted a recent market intelligence study, thoroughly analysing the Medical Device Connectivity Market. The newly published report employs an appealing layout that presents essential data using visually engaging tables, graphs, charts, and figures.
Medical Device Connectivity market research report has been formulated by using basic steps to conduct market research analysis which includes survey, focus groups, personal interviews, observations and field trials. The report helps achieve a dream of an outshining and winning business. This business report also makes some important proposals for a new project of Medical Device Connectivity market before evaluating its feasibility. This market report comprises of data that can be quite essential when it comes to dominating the market or making a mark in the market as a new emergent. The market research report is a resource, which provides current as well as upcoming technical and financial details of the industry.
By understanding the trends in consumer and supply chain dynamics, this large scale Medical Device Connectivity market report helps to draw the strategies about sales, marketing, and promotion. In a rapidly changing marketplace, companies must opt for a broad range to have an effectual business growth and this market report is right there to serve this purpose at the best. This report contains a chapter on the global Medical Device Connectivity market and all its associated companies with their profiles, which gives valuable data pertaining to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies.
Data Bridge Market Research analyses that the medical device connectivity market, which was USD 2.13 billion in 2022, would rise to USD 13.13 billion by 2030 and is expected to undergo a CAGR of 25.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Electronic data is a rapidly developing adoption in the healthcare IT market. EHR databases and software offer rich resources to enhance precision medicine development. As per the NCHS (National Center for Health Statistics) at the CDC (Center for Disease Control and Prevention), U.S., the EHR adoption by primary care physicians surged from 72.1% in 2013 to 78.6% in 2014, witnessing an increase of 6.5%. Furthermore, the COVID-19 pandemic increased the demand for medical device connections, which boosted the growth and expansion of the market in the future.
Key Growth Drivers:
- Growing Cases of Cancer
According to the International Agency for Research on Cancer (IARC) and Global Cancer Observatory (GLOBOCAN), cancer cases are rising. In Asia, China witnessed 4,285,033 cancer cases in 2018, followed by India and Japan, with 1,157,294 and 883,395 new cases, respectively. Globally, there were an expected 18.1 million cancer cases in 2020, of which 9.3 million were men and 8.8 million were women. The increasing burden of cancer is increasing the demand for advanced technologies, enhancing the wireless technology of the market. These patients need detailed care and constant monitoring, which is possible through this technology. Thus, this factor boosts market growth.
- Increasing Adoption of Wireless Networks
Hospitals and other healthcare providers using wireless medical devices offer increased patient safety and data accuracy, improving patient care. Hospitals are now being provided with the wireless local area network (WLAN) in the infrastructure. WLAN is used in hospitals for health data transmission, communication, and patient monitoring. For instance, clinicians and nurses can make better clinical decisions with accurate patient information delivered through a personal digital assistant (PDA) or phone. Such applications of WLAN are very helpful in improving patient care and healthcare management. Thus, this factor boosts market growth.
The report outlines the involvement of key players, including:
Cerner Corporation (U.S.), Medtronic (Ireland), Masimo (U.S.), Koninklijke Philips N.V. (Netherlands), General Electric (U.S.), Stryker (U.S.), iHealth Labs Inc., (U.S.), Cisco Systems, Inc. (U.S.), Lantronix Inc. (U.S.), Infosys Limited (India), Silicon & Software Systems Ltd. (Ireland), Hill-Rom Services Inc. (U.S.), Silex Technology America, Inc (Japan), Digi International Inc. (U.S.), Baxter (U.S.), TE Connectivity (Switzerland), Bridge-Tech (U.S), and MediCollector (U.S.)
Key Market Segmentation
Product and Service (Medical Device Connectivity Solutions, Medical Device Connectivity Services), Technology (Wired Technologies, Wireless Technologies, Hybrid Technologies), Application (Vital signs and patient monitors, Anesthesia machines and Ventilators, Infusion pumps, Others), End User (Hospitals, Home Healthcare Centers, Diagnostic Centers, Ambulatory Care Centers)
The Medical Device Connectivity market report includes the following countries in different regions:
The regions mentioned above encompass a comprehensive coverage of key markets, offering a global perspective on the market landscape. Here's an overview of the regions and the countries they include:
- North America: United States, Canada, and Mexico.
- Europe: Germany, France, United Kingdom, Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and other European countries.
- Asia-Pacific (APAC): China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and other Asia-Pacific countries.
- Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates (U.A.E), South Africa, Egypt, Israel, and other countries in the Middle East and Africa region.
- South America: Brazil, Argentina, and other countries in South America.
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