The latest report on Connected Medical Devices Market by Infinium Global Research gives complete coverage of the connected medical devices market by device type (consumer monitoring, wearable devices, internally embedded devices, stationary devices, and other devices), end-user (hospitals, ambulatory surgical centers, specialty clinics, home care settings/monitoring) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of connected medical devices such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global connected medical devices market is projected to grow at a CAGR of 20.2% over the forecast period of 2019-2025.
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The IT sector has evolved a lot from the time of its conception. Numerous applications of IT is been developed by market players. One such application is in the healthcare sector. Various solutions are developed to facilitate healthcare organizations and professionals. The connected medical devices are an example of such solutions developed to assist healthcare organizations and professionals to carry out several functions effectively. By using the connected medical devices, healthcare professionals can carry out clinical operations more easily. Moreover, the connected medical devices can help in collecting and monitoring patient data. It can also reduce human error and help in providing uninterrupted and accurate data.
Rise in the Prevalence of Chronic Disorders Among the Population is One of the Major Driving Factors for the Growth of the Global Connected Medical Devices Market
The rise in the prevalence of chronic disorders among the population is one of the major driving factors for the growth of the global connected medical devices market. It was estimated that chronic diseases attributed to approximately 60% of the total 56.5 million reported deaths across the world, as of 2001. The growing number of chronic cases exerts a burden on the healthcare industry. To cope up with this pressure, the industry is developing new technologies including connected medical devices. These devices reduce human efforts and increase patient care efficiency.
Moreover, the growing demand for cost effective and reliable patient monitoring solutions is providing a boost to the global connected medical devices market. The connected devices help healthcare professionals to effectively and efficiently track the health of patients. Healthcare professionals can check the condition of their patients by a single touch on their computer or smartphone. However, the risks associated with data breach and hacking of the devices are expected to be the major restraining factor for the growth of the connected medical devices market. On the other hand, the adoption of IoT in healthcare is observed to grow at a rapid pace. This growing demand for IoT is anticipated to offer lucrative business opportunities to the vendors supplying connected medical devices.
North American Region Generated the Highest Revenue in the Global Connected Medical Devices Market
In terms of geography, the North American region generated the highest revenue in the global connected medical devices market. The largest market share of the North American attributed to the strong presence of the medical device manufacturers in the region. North America has an advanced communication infrastructure along with a higher adoption of developed technologies and higher expenditure on healthcare. This, in turn, augments the demand for connected medical devices s in North America.
Europe is the second-largest market for the connected medical devices following North America. While the Asia Pacific is anticipated to grow with the fastest rate over the forecast period. The presence of a large patient pool, growing demand for better healthcare infrastructure and growing investment in the healthcare IT sector are some of the factors contributing to the growth of the connected medical devices in the Asia Pacific.
Table of Content
Chapter – 1 Preface
Chapter – 2 Executive Summary
Chapter – 3 Global Connected Medical Devices Market Overview
Chapter – 4 Connected Medical Devices Market Macro Indicator Analysis
Chapter – 5 Global Connected Medical Devices Market by Device Type
- Consumer Monitoring
- Wearable Devices
- Internally Embedded Devices
- Stationary Devices
Chapter – 6 Global Connected Medical Devices Market by End-user
- Ambulatory Surgical Centers
- Specialty Clinics
- Home Care Settings/Monitoring
Chapter – 7 Global Connected Medical Devices Market by Region 2019-2025
- North America
Chapter – 8 Company Profiles and Competitive Landscape
- General Electric Company
- Medtronic Plc
- Koninklijke Philips N.V.
- McKesson Corporation
- Honeywell International Inc
- Fitbit, Inc
- Abbott Laboratories
- Omron Corporation
- Boston Scientific Corporation
Chapter – 9 Appendix
- Primary Research Findings and Questionnaire
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