The medical device connectivity market in this report is segmented by product & service, technology, and end user. This report also provides market information on major regional segments of the market, namely, North America, Europe, Asia Pacific, and the Rest of the World.
Based on product and service, medical device connectivity solutions dominated the market in 2017. The large share of the medical device connectivity solutions segment can be attributed to the growing digitization in the health continuum, increased adoption rate adoption of EHRs and other interoperability solutions in healthcare organizations in emerging countries, and the increasing need to curtail healthcare costs while delivering quality patient care.
By technology, the wired technologies segment accounted for the largest share of the medical device connectivity market in 2017. This dominant share is mainly attributed to the various advantages offered by wired solutions such as better physical control, enhanced data security and reliability, and high-speed networked connectivity.
On the basis of end users, the global market is segmented into hospitals, imaging and diagnostic centers, home healthcare, and ambulatory care settings. In 2017, the hospitals segment accounted for the largest share of the global medical device connectivity market. The growth in this end-user segment can be attributed to factors such as the improving healthcare infrastructure in Asia Pacific, rising need to improve the operational efficiency of healthcare organizations, and improving patient and financial outcomes.
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In 2017, North America dominated the global medical device connectivity market. Growth in this market can mainly be attributed to the strong IT infrastructure in the region, increasing investments and regulatory mandates favoring the implementation of eHealth solutions, presence of large healthcare IT companies, and increasing need to curtail healthcare costs. The North America region is also expected to grow at the highest CAGR during the forecast period.
However, various interoperability issues, lack of standard interfaces, and the high cost of ownership of these systems are some of the factors that are likely to hinder the growth of the global market to a certain extent.
The players in the medical device connectivity market include GE Healthcare (US), Qualcomm (US), Cerner (US), Philips (Netherlands), Medtronic (Ireland), Cisco Systems (US), Infosys Limited (India), Digi International (US), NantHealth (US), Bernoulli Enterprise (US), True Process (US), iHealth Labs (US), and Lantronix (US).
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