Network Connected Medical Devices Market

NEW YORK, Nov. 4, 2019 /PRNewswire/ --

Network Connected Medical Devices Market Research Report: By Product (Patient Monitoring Devices, Glucose Monitors, Insulin Pumps, Dialysis, CPAP Machines, Infusion Pumps, Defibrillators, Ventilators, Smart Beds, Oxygen Tanks, Coagulation Testing, Blood Processing Devices, CT Scanners, X-Ray Imaging Systems, Ingestible Sensors), Connectivity Technology (BLE, Wi-Fi, NFC, Cellular, Satellite, ZigBee), Regional Insight (U.S., Canada, U.K., France, Germany, Italy, Spain, Japan, China, India, Australia, Mexico, Brazil) - Global Industry Size, Share Analysis and Growth Forecast to 2024

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The major driving factors for the network connected medical devices market are the technical advancements that have led to the development and inclusion of connected medical devices in the healthcare domain, rising incidence of chronic diseases, and surging geriatric population. By 2024, the market is expected to gather $66.6 billion revenue, compared to $19.5 billion in 2018, registering a 23.5% CAGR during the forecast period (2019–2024). Cloud-connected medical devices, which can be integrated with computer and mobile applications, are referred to as network connected medical devices or the internet of medical things.

The network connected medical devices market is observing the trend of partnerships and collaborations among market players to develop such devices. Medical device manufacturing companies are partnering with technology providers to amalgamate the two niches to develop IoT-empowered solutions. This is being done to capture significant market shares by expanding their reach. Further, the demand for such devices by end users, such as hospitals and other healthcare centers, is high due to their cost-effectiveness and efficiency.

The rapid inclusion of network connected medical devices in healthcare settings is a major supporting factor in the network connected medical devices market growth. The efficiency in the healthcare sector is primarily dependent on healthcare providers and cost-effective treatment. For effective monitoring, the medical device industry is witnessing a revolution in terms of the functioning of the devices. Smart medical devices, such as defibrillators, insulin pumps, cardiac monitoring devices, oxygen tanks, and continuous positive airway pressure (CPAP) machines, are helping in real-time remote patient monitoring, thereby obviating the need for frequent hospital visits.

The network connected medical devices market is segmented by region, product, and connectivity technology. Based on connectivity technology, the categories of the market are ZigBee, Bluetooth Low Energy (BLE), satellite, Wi-Fi, near field communication (NFC), and cellular. During the historical period (2014–2018), the largest revenue share in the market was held by the BLE category. Even in the forecast period, this category is expected to witness the fastest growth at a 23.9% CAGR, which can be credited to the ability of the technology to quickly transfer data over a short range.

Market Segmentation by Product
Patient Monitoring Devices
Cardiac monitoring devices
Mobile cardiac telemetry monitors
Electrocardiogram (ECG)
Pacemakers
Implantable loop recorders
Respiratory monitoring devices
Pulse oximeters
Spirometers
Capnographs
Peak flow meters
Neuromonitoring devices
Electroencephalograph (EEG)
Electromyograph (EMG)
Multi-parameter monitoring devices
Hemodynamic monitoring devices
Temperature monitoring devices
Weight monitoring devices
Glucose Monitors
Insulin Pumps
Dialysis
Continuous Positive Airway Pressure (CPAP) Machines
Infusion Pumps
Defibrillators
Ventilators
Smart Beds
Oxygen Tanks
Coagulation Testing
Blood Processing Devices
Computed Tomography (CT) Scanners
X-Ray Imaging Systems
Ingestible Sensors

Market Segmentation by Connectivity Technology
Bluetooth-Low Energy (BLE)
Wi-Fi
Near Field Communication (NFC)
Cellular
Satellite
ZigBee

Market Segmentation by Geography
North America Network Connected Medical Devices Market
By product
By connectivity technology
By country – U.S and Canada
U.S. network connected medical devices market
By product
By connectivity technology
Canada network connected medical devices market
By product
By connectivity technology
Europe Network Connected Medical Devices Market
By product
By connectivity technology
By country –U.K., France, Germany, Italy, Spain, and Rest of Europe
U.K. network connected medical devices market
By product
By connectivity technology
France network connected medical devices market
By product
By connectivity technology
Germany network connected medical devices market
By product
By connectivity technology
Italy network connected medical devices market
By product
By connectivity technology
Spain network connected medical devices market
By product
By connectivity technology
Asia-Pacific (APAC) Network Connected Medical Devices Market
By product
By connectivity technology
By country – Japan, China, India, Australia, and Rest of APAC
Japan network connected medical devices market
By product
By connectivity technology
China network connected medical devices market
By product
By connectivity technology
India network connected medical devices market
By product
By connectivity technology
Australia network connected medical devices market
By product
By connectivity technology
Latin America (LATAM) Network Connected Medical Devices Market
By product
By connectivity technology
By country – Mexico, Brazil, and Rest of LATAM
Mexico connected medical devices market
By product
By connectivity technology
Brazil connected medical devices market
By product
By connectivity technology
Middle East and Africa (MEA) Network Connected Medical Devices Market
By product
By connectivity technology
By country – Saudi Arabia, South Africa, and Rest of MEA
Saudi Arabia connected medical devices market
By product
By connectivity technology
South Africa connected medical devices market
By product
By connectivity technology

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