Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Global Medical Device Connectivity Market Forecast to 2028 - Analysis by Product and Services, Technology, Application, and End-use" report has been added to ResearchAndMarkets.com's offering.
This comprehensive study examines the projected growth and dynamics of the medical device connectivity market, estimated to reach a value of US$7.56 billion by 2028, with a remarkable compound annual growth rate (CAGR) of 23.2% from 2023 to 2028.
The growth of the medical device connectivity market is primarily driven by the increasing adoption of electronic health records (EHR) or electronic medical records (EMR) and the significant acceleration of telehealth services, particularly in response to the COVID-19 pandemic. However, the market's growth is hindered by the high risk of cyberattacks, highlighting the importance of robust security measures in medical device connectivity.
Medical device connectivity involves establishing and managing connections between medical devices and equipment in healthcare facilities to facilitate the sharing of patient information. These connections can be wireless, wired, or hybrid, depending on the technology employed. Wireless technologies currently dominate the market, offering benefits such as improved efficiency, patient safety, data accuracy and analysis, and enhanced mobility. Wireless medical devices enable various systems, including physiological monitors, mobile apps, wearables, and scanners, to provide high-quality care, reduce costs, and handle a higher volume of patients effectively.
One significant technological advancement that is expected to drive the growth of the medical device connectivity market is 5G. As telemedicine and remote patient monitoring become increasingly vital in healthcare, 5G technology offers the potential for enhanced medical device connectivity. With its higher bandwidths, faster speeds, and increased capacity to connect devices, 5G enables quick data transfer, even for large datasets, resulting in improved patient outcomes through continuous remote monitoring. Moreover, 5G technology complements the increasing use of cloud-based services and expands the offering of connected solutions. By combining 5G technology with artificial intelligence (AI), healthcare providers can leverage connected medical devices and smart data applications to remotely track patients' vitals, diagnose conditions, prescribe treatments, and enhance overall healthcare delivery.
The report provides a comprehensive analysis of the medical device connectivity market, including market landscape, technology-based insights, application analysis, end-user segmentation, and geographic analysis. It also offers insights into market dynamics, drivers, restraints, opportunities, and future trends shaping the industry.
Key Topics Covered in the Report:
- Key Takeaways
- Research Methodology
- Medical Device Connectivity Market - Market Landscape
- Medical Device Connectivity Market - Key Market Dynamics
- Medical Device Connectivity Market - Global Analysis
- Global Medical Device Connectivity Market - Revenue and Forecast to 2028 - by Product and Services
- Medical Device Connectivity Market Analysis - By Technology
- Medical Device Connectivity Market Analysis - By Application
- Medical Device Connectivity Market Analysis - By End User
- Medical Device Connectivity Market - Revenue and Forecast to 2028 - Geographic Analysis
- Impact of COVID-19 Pandemic on Medical Device Connectivity Market
- Global Medical Device Connectivity Market-Industry Landscape
- Company Profiles
For healthcare organizations, medical device connectivity offers tremendous opportunities to improve patient care, enhance efficiency, and streamline workflows. The report also explores the competitive landscape, featuring prominent companies in the market such as Ihealth Labs Inc, Oracle Corp, Lantronix Inc, Infosys Ltd, Digi International Inc, Cisco System Inc, Medtronic plc, Koninklijke Philips Nv, GE Healthcare Technologies Inc, and Silicon & Software Systems Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 244 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.16 Billion |
| Forecasted Market Value (USD) by 2028 | $7.56 Billion |
| Compound Annual Growth Rate | 23.2% |
| Regions Covered | Global |
Company Profiles
- Ihealth Labs Inc
- Oracle Corp
- Lantronix Inc
- Infosys Ltd
- Digi International Inc
- Cisco System Inc
- Medtronic plc
- Koninklijke Philips Nv
- GE Healthcare Technologies Inc
- Silicon & Software Systems Ltd
To access the full report and gain valuable insights into the global medical device connectivity market, visit https://www.researchandmarkets.com/r/xrb38b
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