Dublin, May 24, 2018 (GLOBE NEWSWIRE) -- The "Medical Device Connectivity Market by Product (Integration Solutions, Interface Devices, Telemetry, Connectivity Hub) Technology (Wired, Wireless, Hybrid) End User (Hospitals, Home, Ambulatory Care, Diagnostic Centres) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The Medical Device Connectivity Market is Projected to Reach USD 2,670.3 Million by 2023 From USD 939.4 Million in 2018, at a CAGR of 23.2%.
The growth in this market is attributed to the increasing penetration of EHRs & health information exchange systems in healthcare organizations, growing focus on care quality and patient safety, healthcare IT initiatives driving the integration of medical devices with hospital information systems, and the growing need to curtail healthcare costs through a connected healthcare environment. On the basis of products and services, the medical device connectivity market is segmented into medical device connectivity solutions and medical device connectivity services. The medical device connectivity services segment is expected to register the highest CAGR during the forecast period. This market is primarily driven by the need for effective implementation and demand for maximum utilization of connectivity solutions. On the basis of technology, the market is segmented into three segments, namely, wired technologies, hybrid technologies, and wireless technologies. The wireless technologies segment is expected to register the highest CAGR during the forecast period. The high adoption of wireless technologies is mainly attributed to the various advantages it offers such as increased efficiency/productivity of workers, reduced operating costs, improved quality of care, and faster treatments. Based on end user, the global medical device connectivity market is segmented into hospitals, home healthcare, ambulatory care settings, and imaging & diagnostic centers. In 2017, the hospitals segment dominated the medical device connectivity market. The large share of this segment is attributed to the rising need to improve the operational efficiency of healthcare organizations by reducing medical errors, increasing demand for high-quality care, rising need for curtailing healthcare costs, and growing emphasis on interoperability in healthcare organizations. North America accounted for the largest share of the medical device connectivity market, followed by Europe. North America is also expected to grow at the highest CAGR during the forecast period. Factors such as increasing funding towards innovation in the medical sector, need to curtail the escalating healthcare costs in the US, the presence of a large number of healthcare IT companies, increasing investments in the healthcare industry by key market players, and growing awareness about advanced technologies are driving the growth of the market.
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Medical Device Connectivity Market: Overview 4.2 Global Market, By End User & Region 4.3 Geographical Snapshot of the Global Market 4.4 Global Market: Regional Mix 4.5 Medical Device Connectivity Solutions Market, By Type (2018 vs 2023) 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Penetration of EHRs & Health Information Exchange Systems in Healthcare Organizations 5.2.1.2 Growing Focus on Care Quality and Patient Safety 5.2.1.3 Healthcare It Initiatives Driving the Integration of Medical Devices With Hospital Information Systems 5.2.1.4 Growing Need to Curtail Healthcare Costs Through A Connected Healthcare Environment 5.2.1.5 Medical Device Connectivity Aids in Data Analytics 5.2.2 Restraints 5.2.2.1 High Cost of Deployment for Small Healthcare Organizations 5.2.2.2 Reluctance Among Medical Professionals to Adopt Advanced Healthcare It Solutions 5.2.3 Opportunities 5.2.3.1 Increasing Consolidation in the Healthcare Industry 5.2.3.2 Growing Telehealth and Remote Patient Monitoring Markets 5.2.4 Challenges 5.2.4.1 Integration Between Various Hospital Information Systems and Medical Devices 5.2.4.2 Security Concerns and Risk of Data Breaches 6 Industry Insights 6.1 Introduction 6.2 Industry Trends 6.2.1 Growing Need for Semantic Interoperability Through Medical Device Connectivity Solutions 6.2.2 Transition of Poc Diagnostics From Hospital to Home Settings 6.2.3 Growing Adoption of Telehealth Solutions 6.2.4 Shift From Payment-For-Performance to Payment-For-Outcomes Boosting Demand for Medical Device Connectivity Solutions 6.2.5 Low-Power Connectivity Solutions and Advancement of Software Architecture 6.2.6 M2m Communications & Artificial Intelligence Boom in Healthcare 6.3 Vendor Benchmarking 6.4 Interoperability Standards 6.5 Regulatory Analysis 6.6 Pricing Analysis 7 Medical Device Connectivity Market, By Product & Service 7.1 Introduction 7.2 Medical Device Connectivity Solutions 7.2.1 Medical Device Integration Solutions 7.2.2 Telemetry Systems 7.2.3 Connectivity Hubs 7.2.4 Interface Devices 7.3 Medical Device Connectivity Services 7.3.1 Support & Maintenance Services 7.3.2 Implementation & Integration Services 7.3.3 Training Services 8 Medical Device Connectivity Market, By Technology 8.1 Introduction 8.2 Wired Technologies 8.3 Wireless Technologies 8.4 Hybrid Technologies 9 Medical Device Connectivity Market, By End User 9.1 Introduction 9.2 Hospitals 9.3 Home Healthcare 9.4 Ambulatory Care Centers 9.5 Imaging and Diagnostic Centers 10 Medical Device Connectivity Market, By Region 11 Competitive Landscape 11.1 Introduction 11.2 Strategic Benchmarking 11.3 Market Share Analysis 11.4 Competitive Situations and Trends 12 Company Profiles
- Bernoulli Enterprise
- Cerner
- Cisco Systems
- GE Healthcare
- Ihealth Lab
- Infosys
- Lantronix
- Medtronic
- Nanthealth
- Philips
- Qualcomm
- True Process
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