Medical Device Connectivity Market to Witness 22.26% CAGR Growth Between 2024 and 2030

The growing focus on remote patient monitoring & telemedicine is a prominent factor expected to drive the Global Medical Device Connectivity Market during 2024-30.

According to MarkNtel Advisors study, The Global Medical Device Connectivity Market size is estimated to grow at a CAGR of around 22.26% during the forecast period, i.e., 2024–30.

Blockchain technology is emerging as a transformative force in the connected medical device industry, primarily addressing security and data integrity concerns. In healthcare, where the protection of sensitive patient information is paramount, blockchain provides a decentralized and immutable ledger that ensures the integrity and security of medical data. Thus, connectivity device manufacturers and healthcare providers are increasingly exploring blockchain applications in the Medical Device Connectivity Industry. These include Medtronic, IBM Watson Health, Chronicled, etc.

As the healthcare industry continues to prioritize data security and integrity, the adoption of blockchain in medical device connectivity is likely to grow. Thus fueling the revenue growth of the Global Medical Device Connectivity Market during 2024-2030.

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Key Findings in Medical Device Connectivity Market:

Medical Device Connectivity Market Key Players:

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

Market Segmentation Overview:

By Product & Service

-Medical Device Connectivity Solutions

--Medical Device Integration Solutions

--Telemetry Systems

--Connectivity Hubs

--Interface Devices

-Medical Device Connectivity Services

--Support & Maintenance Services

--Implementation & Integration Services

--Training Services

By Technology

-Wireless Technologies

-Wired Technologies

-Hybrid Technologies

Wireless technologies hold a substantial share of the Global Medical Device Connectivity Market. This is primarily due to their inherent flexibility, scalability, and ease of implementation compared to their wired counterparts. Wireless technologies offer seamless connectivity across various medical devices, enabling real-time data transmission, remote monitoring, and enhanced patient care. Moreover, the rise of the Internet of Things (IoT) in healthcare and the deployment of 5G networks further propel the demand for wireless connectivity, facilitating interoperability and data exchange among diverse medical devices and systems. Additionally, wireless solutions reduce the complexity associated with traditional wired setups, leading to cost savings and improved efficiency for healthcare providers. As the industry continues to prioritize mobility, interoperability, and data accessibility, wireless technologies are poised to dominate the medical device connectivity landscape, driving innovation and advancing patient outcomes.

By Application

-Respiratory Therapy

-Anesthesia Machines

-Ventilators

-Infusion Pumps

-Imaging Systems

-Vital Signs & Patient Monitors

-Others

By End Users

-Hospitals

-Ambulatory Care Centers

-Research Centers

-Home Care Settings

-Others

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By Region

North America

South America

Europe

The Middle East & Africa

Asia-Pacific

The Medical Device Connectivity Industry 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.

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