The global medical device connectivity market size was USD 1.21 Billion in 2019 and it is expected to reach USD 6.36 Billion by 2027, at a CAGR of 24.3% during the forecast period.
Vancouver, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The global medical device connectivity market is projected to reach value of USD 6.36 Billion by 2027, at a rapid and steady CAGR of 24.3% according to a current analysis by Emergen Research. Due to the rising demand for data analytics solutions in the healthcare industry, the global medical device connectivity market is expected to expand substantially during the forecast period. Besides, the rising emphasis on patient safety and quality of care is expected to further drive the global medical device connectivity market during the forecast period. Moreover, the rising demand for telemedicine and telehealth applications in the healthcare industry is expected to fuel the global medical device connectivity market during the forecast period.
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Inability of end-users to adopt digital Information technology systems is expected to restrain the global medical device connectivity market during the forecast period.
Key Highlights of Report
In February 2020, Digital Surgery Ltd was acquired by Medtronic plc. The deal would stimulate the strategic plan of Medtronic to offer laparoscopic and robotic surgeries with the help of Artificial Intelligence.
Due to advantages of interface devices, such as easy access to medical files and quicker patient check-ins, the interface devices segment is likely to witness substantial growth, at a CAGR of 24.5% during the forecast period.
Due to growing concerns among healthcare organizations about productive operating practices and about providing improved patient care and better diagnosis, the support & maintenance segment is expected to witness substantial growth during the forecast period.
Due to the increasing need for healthcare solutions for use in network performance enhancement and usability, rising need for integrations, and growing adoption of integrated smart devices in the healthcare industry, the hybrid segment is projected to witness considerable growth during the forecast period
Due to the increasing demand for better patient data entry management throughout diagnosis, the diagnostic & imaging center segment is projected to expand substantially during the forecast period. In addition, the increasing requirement for an efficient solution for exchanging medical information is expected to act as a driver of the segment during the forecast period.
During the forecast period, the Asia Pacific market is anticipated to expand significantly. Developing countries in the Asia Pacific region, such as China, India, and Japan, are swiftly adopting medical device connectivity solutions for enhanced healthcare systems, which is expected to fuel the market in the region during the forecast period.
Key market participants include Infosys Limited, Cisco Systems, Inc., Medtronic plc, Cerner Corporation, Digi International Inc., Lantronix, Inc., Masimo Corporation, Stryker Corporation, Qualcomm Inc., and Baxter International Inc.
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Emergen Research has segmented the global medical device connectivity market on the basis of solution, service, technology, end-use, and region.
Solution Outlook (Revenue, USD Billion; 2017–2027)
Medical Device Integration
Service Outlook (Revenue, USD Billion; 2017–2027)
Support & Maintenance
Implementation & Integration
Technology Outlook (Revenue, USD Billion; 2017–2027)
End-use Outlook (Revenue, USD Billion; 2017–2027)
Ambulatory Care Centers
Diagnostic & Imaging Centers
Home Healthcare Centers
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Regional Outlook (Revenue, USD Billion; 2017–2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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