The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Global Medical Device Connectivity Market Industry (2024-2030):
According to the latest report, the Global Medical Device Connectivity size is estimated to grow at a CAGR of around 22.26% during the forecast period, i.e., 2024–30. The report demonstrates the prominent factors propelling the exponential growth of the Global Medical Device Connectivity Market.
Key Takeaways: Beneficial for Stakeholders and Clients
- Historic Period: 2019-2022
- Base year: 2023
- Forecast Years: 2024-2030
- CAGR (2024-30): 22.26%
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What are the major Driver the Global Medical Device Connectivity Market industry?
Growing Focus on Remote Patient Monitoring & Telemedicine – The rise in chronic diseases and an aging population have led to a greater need for continuous health monitoring. Connected medical devices, ranging from wearables to implantable sensors, play a pivotal role in remotely tracking patients' vital signs, collecting health data, and transmitting this information to healthcare providers. This allows for proactive management of chronic conditions, early detection of anomalies, and timely intervention, thereby improving patient outcomes.
Moreover, the COVID-19 pandemic has accelerated the adoption of telemedicine as a means to provide healthcare services while minimizing physical contact. Telemedicine platforms leverage connected medical devices to facilitate virtual consultations, enabling healthcare professionals to remotely assess patients, prescribe medications, and monitor their conditions. This shift towards telehealth has not only addressed the challenges posed by the pandemic but has also highlighted the potential of connected devices to expand healthcare accessibility. Thus, governments worldwide are increasingly recognizing the potential of telemedicine to transform healthcare ecosystems. These include programs such as CMS (Centers for Medicare & Medicaid Services) Telehealth Initiatives (United States), Australia's Telehealth Reforms (Australia), eSanjeevani Telemedicine Initiative (India), etc. This, in turn, is widely promoting the revenue growth of the market across the globe.
Global Medical Device Connectivity Market Segmentation
The Global Medical Device Connectivity Market analysis of MarkNtel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Service Type
- Cloud Storage & Backup- Market Size & Forecast 2019-2030, (USD Million)
- User Authentication & Authorization- Market Size & Forecast 2019-2030, (USD Million)
- Database Management- Market Size & Forecast 2019-2030, (USD Million)
- Push Notifications- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
- By Platform
- Android- Market Size & Forecast 2019-2030, (USD Million)
- IOS- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
- By Organization Size
- Small & Medium Sized Enterprises- Market Size & Forecast 2019-2030, (USD Million)
- Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)
- By Deployment Model
- Public Cloud- Market Size & Forecast 2019-2030, (USD Million)
- Private Cloud- Market Size & Forecast 2019-2030, (USD Million)
- Hybrid Cloud- Market Size & Forecast 2019-2030, (USD Million)
- By Application Type
- Mobile Apps- Market Size & Forecast 2019-2030, (USD Million)
- Web Apps- Market Size & Forecast 2019-2030, (USD Million)
- By Vertical
- BFSI- Market Size & Forecast 2019-2030, (USD Million)
- Telecommunications- Market Size & Forecast 2019-2030, (USD Million)
- IT & ITes- Market Size & Forecast 2019-2030, (USD Million)
- Retail & Consumer Goods- Market Size & Forecast 2019-2030, (USD Million)
- Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
- Media & Entertainment- Market Size & Forecast 2019-2030, (USD Million)
- Healthcare & Life Sciences- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
As per the regional aspect, the Global Medical Device Connectivity Market is expected to be dominated by the North America by capturing the potential market share.
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Top Companies in the Global Medical Device Connectivity Market
Capsule Technologies, Inc., Cerner Corporation, Cisco Systems, GE Healthcare, Masimo Corporation, Ihealth Lab, Koninklijke Philips N.V., Lantronix, Inc., Medtronic Plc, NantHealth, Inc., Iatric Systems and Others
Global Medical Device Connectivity Market- Recent Development:
- In 2023: Koninklijke Philips, expanded its collaboration with Masimo to advance patient monitoring capabilities in home telehealth applications with the W1 advanced health-tracking watch from Masimo.
- In 2022: Cerner Corporation, in collaboration with Elligo Health Research and Freenome, is working to enable a clinical trial through the Learning Health Network to help advance early cancer detection.
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