Connected Medical Devices Market Overview

As per the reports by MRFR, the connected medical devices market is expected to grow at a substantial pace over the forecast timeframe.

Connected medical devices use remote or wired availability assets to collect and screen patient information. Verizon-connected medical devices can reduce human errors or mistakes and offer precise and continuous information even more frequently. The rising occurrence of constant infections and hazard factors coupled with it requires solid and savvy patient checking frameworks, expanding appropriation of IT in medical care, and expanding mindfulness are the major aspects driving the growth of the connected medical devices market.

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The global connected medical devices market has been witnessing massive growth over the recent years owing primarily to the factors like a quick endorsement from administrative specialists to the connected medical devices, spending on innovative work, and advancement in innovation. Furthermore, factors like rising awareness regarding connected medical devices, rising adoption of IT in the healthcare sector, and growing patient monitoring systems across the globe are also likely to fuel the market growth over the future years. Moreover, the rise in demand for the consumer wearables market owing to the lesser operational costs, easy setup, and more are projected to boost market performance over the review timeframe. However, the market growth is anticipated to be impeded by the risk factors allied with data piracy, rising security concerns, low possibility of adoption in underdeveloped countries, and the high price of such medical devices.

Connected Medical Devices Market Segment Analysis

The global connected medical devices market is divided into numerous segments based on item, use, end-user, and region.

The market includes items like glucose screen, ECG checking gadgets, insulin siphon, BP screen, beat oximeter, compact GPS pers, pulse screen, brilliant pill allocator, and others.

Based on use, the connected medical devices market is divided into wellbeing administrations, treatment administrations, wellness, remote observing, and meeting & determination administrations.

By end-user, the global connected devices market is divided into home consideration settings/observing, emergency clinics, claim to fame facilities, wandering careful focuses, and others.

Connected Medical Devices Market Regional Analysis

The global connected medical devices market is studied across four major regions, including the Americas, Asia-Pacific, Europe, and the Rest of the World.

The Americas are anticipated to hold the top position in the global market for connected medical devices owing to the factors such as good arrangements from administrative specialists and governments, growing mindfulness about the linked clinical gadgets, increasing prevalence of persistent infections, and seizure of exceptionally trend-setting innovation powerful systems received by noteworthy parts on the lookout. For instance, in January 2017, Abbott research centers gained St. Jude Medical, Inc., medical devices monster, for 25 billion. The deal will aid Abbott with covering the whole cardiovascular market that is evaluated to expand around USD 30 billion.

The European connected medical devices market holds the second position globally. The regional market’s growth is being driven by the factors like expanding innovative work and rising government financing. Furthermore, the rising awareness regarding connected clinical gadgets is another major aspect propelling the market’s growth in the region.

Connected Medical Devices Market Competitive Analysis

The list of key players in the global market for connected medical devices includes companies such as Cisco Systems, Inc. (US), Hill-Rom Technologies Inc. (US), Digi International Inc. (US), GE Healthcare (US), Medtronic plc (Ireland), Infosys Limited (India), Capsule Technologies, Inc. (the US), True Process (US), Masimo Corporation (US), Koninklijke Philips N.V. (Netherlands), Lantronix Inc. (US), iHealth Labs (US), Cerner Corporation (US), and others.

Recent Developments

  • In September 2021, a prominent provider in healthcare cybersecurity delivering threat prevention and visibility for medical devices and clinical networks, CyberMDX launched a series of educational programs in October to provide support to an initiative launched in 2004, National Cybersecurity Awareness Month (NCSAM), by the S. Department of Homeland Security and the National Cyber Security Alliance. The program will focus on the 2021 theme based on the impact of our offline to online life transformation. Also, it studies the economic and societal impacts.

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