Medical Device Connectivity Market to Exhibit a Remarkable Growth of USD 13.13 Billion by 2030, Size, Share, Trends, Demand, Future Growth and New Opportunities

NEW YORK, April 12, 2023 (GLOBE NEWSWIRE) — Data Bridge Market Research completed a qualitative study titled “Medical Device Connectivity Market” with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. The superior Medical Device Connectivity market report includes historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the related industry. Businesses can utilize this market document to obtain productive ideas with which products can be made more effective and impressive in the competitive market. This market research report is a high-quality report having in-depth market research studies. In addition to detailing about the competitive landscape of the key players, the Medical Device Connectivity business report also offers a complete and distinct analysis of the market drivers and restraints, a detailed analysis of the market segmentation, key developments in the market, and details of research methodology.

An influential Medical Device Connectivity market research report studies key opportunities in the market and influencing factors which is valuable for businesses. It helps businesses obtain granular level clarity on current business trends and expected future developments. This market report also offers an in-depth overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost, and gross margin. With the proper utilization of established and advanced tools such as SWOT analysis and Porter’s Five Forces Analysis, the Medical Device Connectivity market report has been structured. It is a thorough investigation of the current scenario of the global market, which covers several market dynamics.

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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Medical device connection (MDC) is a patient-oriented integrated medical equipment system that evaluates and observes patients’ electronic health records (EHR). Medical gadgets connected through wireless network technologies enable medical care personnel to be on a patient at all times, even when not around. Hospitals demand thorough, accurate, and detailed medical device data enhance clinical outcomes and patient safety as medical device technology advances.

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.

Fundamental Aim of Medical Device Connectivity Market Report

In the Medical Device Connectivity market, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.

• Major alterations to the Medical Device Connectivity Market in the near future.

• Notable Market rivals around the world.

• The Medical Device Connectivity Market’s Future Scope and Product Outlook

• Future-promising emerging markets.

• The Market Presents Difficult Challenges and Threats.

• Sales data and profiles of the world’s leading Medical Device Connectivity manufacturers

Recent Development

In 2021, Capsule Technologies Inc. was acquired by Koninklijke Philips N V. Capsule Technology, a huge provider of data technologies and medical device integration for hospitals and healthcare organizations. This strategy boosted Philips’ position in hospital patient care management connection solutions.

Some of the major players operating in the medical device connectivity market are:

• Cerner Corporation (U.S.)

• Koninklijke Philips N.V. (Netherlands)

• iHealth Labs Inc., (U.S.)

• Cisco Systems, Inc. (U.S.)

•  Silicon & Software Systems Ltd. (Ireland)

• Hill-Rom Services Inc. (U.S.)

• Silex Technology America, Inc (Japan)

• Digi International Inc. (U.S.)

• TE Connectivity (Switzerland)

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Opportunities for Key Players:

• Increasing Initiatives by Organizations

Many initiatives by authorized organizations have surged the market’s growth. For instance, HealthIT.gov has stated that the United States Department of Health and Human Services (HHS) is taking various initiatives to achieve an interoperable health IT infrastructure. The growing focus on health IT infrastructure directly boosts the demand for medical device connectivity solutions. Also, India aims to collaborate with Japan to manufacture medical equipment due to a 5-year USD 42 billion investment and finance plan signed in March 2022. It was signed by Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi. Thus, this factor boosts market growth.  

Key Growth Drivers:

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 investment made in the study would provide you access to information such as:

• Medical Device Connectivity Market [Global – Broken-down into regions]
• Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
• Country wise Market Size Split [of important countries with major market share]
• Market Share and Revenue/Sales by leading players
• Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
• Medical Device Connectivity Market Size
• Market Size by application/industry verticals
• Market Projections/Forecast

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Key Market Segments Covered in Medical Device Connectivity Industry Research

Product and Service

• Medical Device Connectivity Solutions

• Medical Device Integration Solutions

• Medical Device Connectivity Services

• Implementation and Integration Services

• Support And Maintenance Services

• Training Services And Consulting Services

Technology

Application

• Anesthesia machines and Ventilators

End User

Regional Analysis/Insights:

The countries covered in the medical device connectivity market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the medical device connectivity market because of the growing merging among the major market players, the wide implementation of the clinical device connectivity, and the strict guidelines by the numerous government and non-government authorities within the region

Asia-Pacific is expected to grow significantly due to the rising R&D investments for producing several technologically advanced healthcare infrastructures. Moreover, many favorable initiatives undertaken by the government, along with an increase in per capita income, will boost market growth

What to Expect from the Report, a 7-Pointer Guide

• The Medical Device Connectivity report dives into the holistic Strategy and Innovation for this market ecosystem

• The Medical Device Connectivity report keenly isolates and upholds notable prominent market drivers and barriers

• The Medical Device Connectivity report sets clarity in identifying technological standardization as well as the regulatory

• framework, besides significantly assessing various implementation models besides evaluation of numerous use cases

• The Medical Device Connectivity report is also a rich repository of crucial information across the industry, highlighting details on novel investments as well as stakeholders and relevant contributors and market participants.

• A through market analytical survey and forecast references through the forecast tenure, encapsulating details on historical developments, concurrent events as well as future growth probability

Table of Contents:

1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Medical Device Connectivity Market: Regulations
6. Market Overview
7. Global Medical Device Connectivity Market, By Product and Service
8. Global Medical Device Connectivity Market, By Technology
9. Global Medical Device Connectivity Market, By Application
10. Global Medical Device Connectivity Market, By End User
11. Global Medical Device Connectivity Market, By Region
12. Global Medical Device Connectivity Market: Company Landscape
13. SWOT Analyses
14. Company Profile
15. Questionnaires
16. Related Reports

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