Research Nester has released a report titled “Medical Device Connectivity Market: Global Demand Analysis & Opportunity Outlook 2031” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The statistics portray the growing concern for different types of chronic diseases globally, and the surge in need amongst the healthcare services providers to enhance their existing service quality. The healthcare service providers are increasingly deploying advanced medical devices which are integrated with technology for better diagnosis of the practitioner. Moreover, hospitals and clinics are increasingly shifting towards the adoption of advanced information technology (IT) tools, such as electronic health records (EHRs) and hospital management systems, that help them optimize their existing work processes. The growing need for integrating all these technologies together is therefore expected to drive the demand for medical device connectivity, and in turn, boost the market growth.
The global medical device connectivity market is anticipated to grow with a CAGR of 22.41% over the forecast period, i.e., 2022 – 2031. The market is estimated to garner a revenue of USD 10897.22 Million by the end of 2031. Additionally, in the year 2021, the market registered a revenue of USD 1513.25 Million. The market is segmented by technology into wireless, wired, and hybrid. The wireless segment, amongst all the other segments, is anticipated to garner the largest revenue of USD 5193.23 Million by the end of 2031. Additionally, the segment registered a revenue of USD 675.43 Million in the year 2021.
By region, the global medical device connectivity market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America region is anticipated to garner the largest revenue of USD 3944.79 Million by the end of 2031. Additionally, the market in the region registered a revenue of USD 534.18 Million in the year 2021.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the high cost of deployment in small healthcare organizations, and the concerns for cybersecurity are some of the major factors predicted to hinder the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global medical device connectivity market, which includes company profiling of Cerner Corporation (Oracle Corporation), General Electric Healthcare (General Electric Company), Infosys Limited, Cisco Systems Inc., Koninklijke Philips N.V., Medtronic plc, iHealth Labs Inc., Masimo, Capsule Technologies, Digi International Inc., True Process Inc. (Baxter International, Inc.), LANTRONIX, INC., Hill-Rom Services, Inc., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Medical Device Connectivity Market: Global Demand Analysis & Opportunity Outlook 2031”, analyses the overall global medical device connectivity industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global medical device connectivity market in the near future.
