Market Research Logo

Global Connected Medical Devices Market 2017-2021

Global Connected Medical Devices Market 2017-2021

About Connected Medical Devices

Connected medical devices, as the name suggests, are medical devices that have wired or wireless connectivity through which data is transferred to information systems such as electronic health record (EHR), mobile devices such as smartphones, or to other medical devices. Connected medical devices include wearable medical devices such as activity trackers and sleep apnea monitors; physiological monitors such as weighing scales, pulse oximeters, blood pressure meters, ventilators, heart rate monitors, blood glucose meters, and thermometers; and capital-intensive devices, which include medical implants such as implantable loop recorders (ILRs), pacemakers, neurostimulator implants, and medical imaging devices such as X-ray, magnetic resonance imaging (MRI), and computed tomography (CT) scanners.

Technavio’s analysts forecast the global connected medical devices market to grow at a CAGR of 9.24% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global connected medical devices market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Connected Medical Devices Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Fitbit
  • GE Healthcare
  • Medtronic
  • OMRON Corporation
  • Philips Healthcare
Other prominent vendors
  • Abbott
  • AgaMatrix
  • Boston Scientific Corporation
  • Dexcom
  • F. Hoffmann-La Roche
  • Garmin
  • iHealth Labs (subsidiary of Andon Health)
  • Jawbone
  • Johnson & Johnson
  • LabStyle Innovations
  • LifeWatch
  • McKesson Corporation
  • Nokia
  • Polar Electro
  • True Wearables
  • TupeloLife
Market driver
  • Rising prevalence of chronic diseases
  • For a full, detailed list, view our report
Market challenge
  • High cost of connected medical devices
  • For a full, detailed list, view our report
Market trend
  • Increasing number of regulatory approvals
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Connected Medical Devices Market 2017-2021

Technavio recognizes the following companies as the key players in the global connected medical devices market: Fitbit, GE Healthcare, Medtronic, OMRON Corporation, and Philips Healthcare.

Other Prominent Vendors in the market are: Abbott, AgaMatrix, Boston Scientific Corporation, Dexcom, F. Hoffmann-La Roche, Garmin, iHealth Labs (subsidiary of Andon Health), Jawbone, Johnson & Johnson, LabStyle Innovations, LifeWatch, McKesson Corporation, Nokia, Polar Electro, True Wearables, and TupeloLife.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing number of regulatory approvals. There is an increasing trend of regulatory approvals for connected medical devices. In July 2016, Medtronic received the CE Marking approval for its Guardian Connect (smartphone-enabled continuous glucose monitoring (CGM) system) for people using insulin injection therapy for diabetes. In June 2016, Withings (acquired by Nokia) received the FDA 510(k) clearance for its Withings Thermo (now known as Thermo), which is a WiFi-enabled thermometer.”

According to the report, one driver in the market is rising prevalence of chronic diseases. The increasing global prevalence of chronic diseases such as hypertension, diabetes, CVDs and their related risk factors such as obesity, sleep apnea, chronic respiratory diseases such as asthma and chronic pain conditions is estimated to increase the demand for connected medical devices for efficient disease management. CVDs are estimated to cause approximately 19 million deaths globally by 2020. According to eurostat, in 2013, there were nearly 1.9 million deaths resulting from CVDs in the EU. According to the CDC, approximately 610,000 people die of heart diseases in the US every year.

Further, the report states that one challenge in the market is high cost of connected medical devices. The cost of medical devices such as imaging equipment including MRI, CT, and X-ray systems equipped with connectivity features is significantly high. For instance, the cost of installing a simple PACS system for a small practice can cost around $4,000-$6,000 while a complex system for a large healthcare facility can cost more than $90,000. Hospitals adopting connected medical imaging equipment also need to bear several other additional costs such as maintenance costs and infrastructural costs.

Companies Mentioned

Fitbit, GE Healthcare, Medtronic, OMRON Corporation, Philips Healthcare, Abbott, AgaMatrix, Boston Scientific Corporation, Dexcom, F. Hoffmann-La Roche, Garmin, iHealth Labs (subsidiary of Andon Health), Jawbone, Johnson & Johnson, LabStyle Innovations, LifeWatch, McKesson Corporation, Nokia, Polar Electro, True Wearables, and TupeloLife.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
  • Market landscape
    • Overview
      • Table Global connected medical devices market: Segmentation
    • Market size and forecast
      • Table Global connected medical devices market 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product type
    • Table Global connected medical devices market by product type 2016 (% share)
    • Connected capital-intensive devices
      • Table Major connected capital-intensive devices available in market
      • Table Global connected capital-intensive devices market 2016-2021 ($ millions)
    • Connected physiological monitors
      • Table Major connected physiological monitors available in market
      • Table Global connected physiological monitors market 2016-2021 ($ millions)
    • Connected wearable medical devices
      • Table Major connected wearable medical devices available in market
      • Table Global connected wearable medical devices market 2016-2021 ($ millions)
  • Geographical segmentation
    • Market overview
      • Table Global connected medical devices market by region 2016 (% share)
    • Connected medical devices market in Americas
      • Table Connected medical devices market in Americas 2016-2021 ($ millions)
    • Connected medical devices market in EMEA
      • Table Connected medical devices market in EMEA 2016-2021 ($ millions)
    • Connected medical devices market in APAC
      • Table Connected medical devices market in APAC 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Increasing number of regulatory approvals
    • Technological advancements
    • Increasing online presence of vendors
  • Vendor landscape
    • Competitive landscape
      • Table Competitive structure analysis of global connected medical devices market 2016
  • Key vendor analysis
    • Fitbit
      • Table Fitbit: Key highlights
      • Table Fitbit: Strength assessment
      • Table Fitbit: Strategy assessment
      • Table Fitbit: Opportunity assessment
    • GE Healthcare
      • Table GE Healthcare: Key highlights
      • Table GE Healthcare: Strength assessment
      • Table GE Healthcare: Strategy assessment
      • Table GE Healthcare: Opportunity assessment
    • Medtronic
      • Table Medtronic: Key highlights
      • Table Medtronic: Strength assessment
      • Table Medtronic: Strategy assessment
      • Table Medtronic: Opportunity assessment
    • OMRON Corporation
      • Table OMRON Corporation: Key highlights
      • Table OMRON Corporation: Strength assessment
      • Table OMRON Corporation: Strategy assessment
      • Table OMRON Corporation: Opportunity assessment
    • Philips Healthcare
      • Table Philips Healthcare: Key highlights
      • Table Philips Healthcare: Strength assessment
      • Table Philips Healthcare: Strategy assessment
      • Table Philips Healthcare: Opportunity assessment
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report