Global Network Connected Medical Devices Market Overview:
Connected medical devices are known as the internet of medical things, those are increasingly becoming prevalent. According to the study, around 48% of medical devices were connected in the year 2017, and this ratio is expected to grow 68% in the coming five years. Internet-enabled devices are devices that interconnected to the internet in every step. This enhances the customers’ experiences. According to the study the global connected healthcare will reach by USD 138.8 billion by the financial year 2021. In the United States hospitals around 10-15 connected medical devices on each bed. Some of the players profiled in the study are PhysIQ (United States), Philips (Netherlands), NuvoAir AB (Sweden), General Electric (United States), Myontec Ltd. (Finland), Nonin Medical (United States), Drager (United States), AliveCor, Inc. (United States), iHealth Lab, Inc. (United States) and AgaMatrix (United States).
On the basis of geography, the market of Network Connected Medical Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Connectivity, the sub-segment i.e. BLE will boost the Network Connected Medical Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Devices, the sub-segment i.e. Patient Monitoring Devices will boost the Network Connected Medical Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Rising Government Investment towards Promoting Digital Health
- Growing Requirement for Cost-Containment in Healthcare Delivery
- Growing Focus towards Active Patient Engagement and Patient-Centric Care Delivery
- High Investment in Research and Development
- Increase in Market Competency
- High Deployment Cost Associated with Connected Medical Devices and other Solutions
- Lack of Awareness among End Customers
- Continuous Investment in Technology Development Such as Development in IoT Technology, and Others
- Rising Concern Related to Data Security
- Lack of Data Management and Interoperability
Key Market Developments:
In Mar 2020, Imprivata revealed new and established digital identity solutions at the HIMSS20 Annual Conference & Exhibition. This helps their customers to secure and simplify interactions between trusted digital identities across various locations.
There are various companies are operating in this industry, they are exploring in the new geographical regions by adopting various market growth strategies such as mergers & acquisitions, expansions, investments, and others. This is an emerging market that attracting numerous market investors and market players.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Network Connected Medical Devices Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Network Connected Medical Devices market on the basis of product [Wearable and Implantable Device] , application [Hospital, Clinic and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Network Connected Medical Devices market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Network Connected Medical Devices industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Abbott Laboratories (United States), STANLEY Healthcare (United States) and Welch Allyn (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Network Connected Medical Devices market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.