The ‘Global Connected Medical Devices Market’ was valued at $XX Billion in 2020 and is expected to reach $XX Billion 2031 at the CAGR of XX% between 2021 and 2031.
Connected Medical Devices Market play an important role in hospitals and other healthcare sectors, offering crucial medical data to consumers and guiding them through life-saving procedures. The product has some important features which includes secure connection to prime EMR systems, remote monitoring of gadget activity, in-depth gadget usage analytics, built-in adherence to compliance and more. Moreover, connected medical devices provide healthcare solutions which include improvement in data capture accuracy, abolish manual data entry, constant care of the patient, issue alert and ongoing oversight. Increasing use of connected medical devices for connected health solutions is expected to substitute the traditional healthcare practices. The health device makers have primarily provided services and products for consumers who are tremendously focused on health fitness. Rising number of fitness conscious people across the globe, creates a huge demand for connected medical devices. Medical devices can either be connected on wired network or wireless networks. Wireless network includes Bluetooth, Wi-Fi, Wireless Medical Telemetry Service which offers continuous monitoring of patients. Wired networks are stable, fast and highly available, but usually installation cost is high and also require periodic maintenance. However, wired networks provide connectivity to the healthcare sector in a closed environment. Technological advancement of these devices and their high popularity among consumers, creates a huge demand and high growth opportunity for connected medical devices market during the forecast period 2021-2031.
Connected Medical Devices Market provide several benefits among consumers. Some of the benefits include more frequent and faster data updates, improved workflow efficiency and reduced human error. Increasing demand for wearable medical devices for better ingress to patient health information, is the major factor augmenting the market growth. Increasing incidents of diseases requiring persistent health monitoring, is further expected to fuel the demand of connected medical devices over the projection period. Connected medical devices allows up gradation in quality of patient care and further helps in reduction in cost of health treatments. However, lack of awareness among consumers and huge cost of these connected medical gadgets, are considered to be some of the major barriers hindering the growth of the connected medical devices market.
Major applications of connected medical devices mentioned in the report includes treatment services, remote monitoring, consultation and diagnosis services, and fitness and wellness services. The connected medical devices market in report is segmented by products which include blood pressure monitors; safety monitoring devices, ECG monitors, Holter, BiPAP and others. Moreover, on the basis of devices, the market has been segmented as wearable medical devices and non-wearable medical devices. The connected medical devices market has been segmented by the end-user which includes clinics, hospitals and patient. The global connected medical devices market has been segmented geographically into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America
Rising focus on health benefits among people across the globe propels the growth of connected medical devices market. Product development and huge expenditure by leading vendors has made the market more demanding in recent years. However, rising security concerns among the consumers regarding privacy of patient’s data creates a matter of unwillingness towards acceptance of connected medical gadgets, and thereby obstructing the market growth of connected medical devices across the globe.
Some of the major players in the global connected medical devices market include Johnson & Johnson, Medtronic Inc., Cisco Inc., Philips Healthcare, and few likely to be named.
The Global Connected Medical Devices Market has been segmented into:
Global Connected Medical Devices Market: By Product
Global Connected Medical Devices Market: By Devices
Global Connected Medical Devices Market: By End-User
Global Connected Medical Devices Market: By Applications
Global Connected Medical Devices Market: By Geography
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