TRENDS INFLUENCING THE MEDICAL DEVICE CONNECTIVITY MARKET SIZE
The increasing need for improved patient monitoring is expected to fuel market growth. The ability to link sensors and medical devices allow for enhanced real-time patient care, even from remote areas, while also enhancing connectivity within and between medical facilities. The massive amount of data generated creates opportunities for new models of care.
The increasing level of automation of medical devices is further paving a market for medical device connectivity. Increasing usage of automated devices, such as orthopedic navigation systems, portable imaging devices, automated microscopes, surgical robots, defibrillators, and therapeutic dispensing systems, all necessitate the need for medical device connectivity.
Another significant factor driving the medical device connectivity market size is the increased demand for home healthcare. In the event of a healthcare emergency in a home healthcare environment, the connected medical devices will send warnings to doctors or concerned citizens.
Furthermore, the increasing public expectations for more personalized, equitable, and convenient services are expected to fuel the growth of medical connectivity market size.
Based on type, the wireless segment is expected to be one of the most lucrative in the medical device connectivity market. Wireless innovations enhance the quality of healthcare by allowing physicians to receive real-time feedback on their patients. These innovations also allow for shorter hospital stays and lower healthcare costs by allowing for remote patient monitoring without compromising treatment quality.
Based on application, the hospital segment is expected to be one of the most lucrative in the medical device connectivity market. This is due to the rising number of hospitals and healthcare infrastructure. In addition, the segment's demand has been boosted by favorable reimbursement plans and insurance coverages.
Based on region, the North America region is expected to be the most lucrative region. Factors such as the consolidation among healthcare providers, widespread adoption of clinical device connectivity and interoperability solutions to reduce the healthcare costs, an increase in the number of coronavirus patients in the United States, and stringent regulations and guidelines imposed by various government and non-government authorities are propelling the medical device connectivity market size in North American region.
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