Medical Device Connectivity Market by Product (Telemetry Systems, Interface Devices, Integration/Networking Platforms), Services, Technology (Wireless Technology, Wired Technology), End User (Hospitals, Diagnostic Centres, Home Healthcare) - Forecast to 2021
The global medical device connectivity market is projected to reach USD 1,344.1 million by 2021, growing at a CAGR of around 26% during the forecast period. Growth in this market can be attributed to a number of factors such as the growing need for semantic interoperability among healthcare organizations, transition of point-of-care diagnostics from hospitals to home care settings, growing adoption of telehealth solutions, increasing Healthcare IT (HCIT) initiatives, regulations for improving healthcare quality, and rising need to curtail healthcare costs. However, high cost of technology, various interoperability issues, lack of standard interfaces, and fragmented end-users market are some of the factors restraining the growth of this market.
The medical device connectivity market in this report is segmented by component, technology, and end user. Based on product, the market is segmented into medical device connectivity services and solutions. In 2015, the medical device connectivity services product segment accounted for the largest share of the medical device connectivity market. This market is primarily driven by the need for effective implementation and demand for maximum utilization of connectivity solutions. Based on technology, the medical device connectivity market is segmented into three segments, namely, wired technologies, hybrid technologies, and wireless technologies. Based on end user, the medical device connectivity market is segmented into three segments, namely, hospitals & clinics, home healthcare, and imaging & diagnostic centers.
In 2015, North America accounted for the largest share to the global medical device connectivity market, followed by Europe, Asia-Pacific, and the RoW. Growth in the North American market is largely driven by the better accessibility to technologies in this region, increasing funding to innovation in medical sector, increasing demand for eHealth solutions and services in large hospitals and health systems, changing regulations, and rising geriatric population.
Some of the major players in the medical device connectivity market are Qualcomm Inc. (U.S), Cerner Corporation (U.S.), NantHealth, Inc. (U.S.), Bernoulli Enterprise Inc. (U.S.), GE Healthcare (U.S.), Digi International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Lantronix, Inc. (U.S.), Philips Healthcare (Netherlands), and Infosys Limited (India).
Detailed insights on all the submarkets, based on component (medical device connectivity solutions and services), based on technology (wireless technologies, wired technologies, and hybrid technologies). This can help market players to identify key technology areas, and high growth segments in the medical device connectivity market.
The report also provides information on key players in this market and their growth strategies and recent developments. This can help the company to assess the competition at global and regional levels in a better manner.
Key insights and market sizing for the different end users of the medical device connectivity market namely, hospitals & clinics, home healthcare, and diagnostic & imaging centers.
Country-wise market size and forecast for all the subsegments. Thus, not only the high growth technology and product areas; the market size numbers provided in the report will also enable market players to identify key geographic markets, and thereby strategize global marketing efforts in order to achieve sustainable revenue growth in the coming years.
It provides key insights on market dynamics, such as drivers, restraints, opportunities, and challenges for this market.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for increasing their market shares.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on product portfolios offered by top players in the medical device connectivity market. The report analyzes the medical device connectivity market by component, technology, and end user across all regions
Product Development/Innovation: Detailed insights on upcoming trends, research and development activities, and new product launches in the medical device connectivity market
Market Development: Comprehensive information on the lucrative emerging markets by component, technology, end user, and region
Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the medical device connectivity market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analysis of leading players in the medical device connectivity market