Connected Medical Devices Market Analysis Report | Growth, Future Prospects and Competitive Landscape 2027
Research Reports
Feb 09, 2022
Connected medical devices are used to monitor patients and collect data via wired or wireless resources. This has the potential to reduce human errors and maintain an uninterrupted data influx. Several factors like cost-effectivity, increasing number of chronic diseases, provision to keep track of patient’s state of health with real-time data, increasing awareness, better IT infrastructures, and others are expected to take the connected medical devices market ahead. However, risk of leaking of information, and malware attacks can deter the expected growth rate of the connected medical devices market.
The global connected medical devices market is all set to garner comprehensive CAGR during the forecast period (2018-2023). Market Research Future (MRFR) assures in a recent report that the growth would be remarkable to surpass the expected valuation in the coming years.
These companies are Medtronic Plc, GE Healthcare, Inc., Philips Healthcare, OMRON Corporation, Fitbit, Inc., McKesson Corporation, Boston Scientific Corporation, Johnson & Johnson, AgaMatrix, Inc., iHealth Labs (subsidiary of Andon Health), St. Jude Medical, Inc. (Abbott), Polar Electro, Dexcom, F. Hoffmann-La Roche, and Aerotel Medical Systems Ltd. MRFR studied these companies well to understand the impact of their moves on the market and to identify trends.
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Various companies are showing interest in taking the global connected medical devices market ahead with substantial market lead. The process includes implementation of strategic moves and attempts that could solidify the market stance of these companies.
Segmentation:
MRFR, in their global connected medical devices market report made a segmentation of the market based on product, device, application and end-user.
- Based on the product, the connected medical devices market can be segmented into ECG monitoring devices, portable GPS pers, insulin pump, bp monitor, pulse oximeter, glucose monitor, heart rate monitor, smart pill dispenser, and others.
- Based on the application, the connected medical devices market includes treatment services, fitness, remote monitoring, consultation & diagnosis services, and wellness services.
- Based on the end-user, the connected medical devices market includes hospitals, ambulatory surgical centers, specialty clinics, home care settings/monitoring and others.
Regional Analysis:
Region-specific analysis of the global connected medical devices market leads to namely, the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas has the maximum market dominance that is taking place due to a hike in the number of cases registered for chronic diseases, better awareness initiatives, favorable government norms, better technological integration, substantially aggressive market study, and others are benefitting the global market share. Several market players are also operating from this region and making the competition much healthy that ensure better growth prospect for the market.
Europe’s market is second only to the America’s market. This is due to the immense investment plans launched by both governments and private players. The research and development sector is getting remarkable funds to take the market forward.
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The APAC market is all set to gain from burgeoning healthcare industry and growing per-capita income. Several companies are launching various policies to optimally use the potential of the regional market. The huge population of the region is also a major factor as they are using such products to stay aware of various chronic diseases.
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