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Connected Diagnostics Market Present Scenario and the Growth Prospects (2018-2028)

01-14-2019 01:35 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Connected Diagnostics Market Present Scenario and the Growth

Connected Diagnostics Market: Introduction

Nowadays, the use of the Internet is widespread in day-to-day life. Connected diagnostics service providers offer consumers a wide range of choices for sharing, viewing, protecting, and storing growing collections of data. Connected diagnostics technology is used to collect data through wireless LAN (WLAN) or wireless WAN digital cellular connections. Connected diagnostics include digital equipment by connecting embedded technology. The usage of connected diagnostics technology is common in the healthcare industry. With the help of connected diagnostics, doctors can detect any medical problem. The technology enhances collaboration among radiologists, physicians, and technologists. The performance of a communication system (PACS) gets improved with the help of connected diagnostics. Through remote monitoring, predictive maintenance, and remote maintenance, offsite service contract connected diagnostics providers can fix problems. Connected diagnostics offer several advantages such as improved performance, application optimization, real-time load optimization, and storage virtualization.

Many end users adopt connected diagnostics technology for better performance and accurate data. Connected diagnostic technology is easy to use and can be operated from multiple places, as it is designed to showcase complete data of the patient. Connected diagnostics technology has a lot of applications. It can be used in continuous monitoring and diagnosis of system fault alerts in both on-highway and off-highway mode. Connected diagnostics work across a broad range of equipment, using a convenient mobile app, an email, or a web portal. Healthcare sector conducts lots of documentation that requires maintenance, updates, and files on a regular basis. Medical practices use an EPRMS, referred to as an Electronic Patient Record Management System, to collect the data generated from connected diagnostic devices.

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Global Connected Diagnostics Market: Drivers and Challenges

Drivers

The growth in on-premises and cloud services are the primary reasons for the development of the connected diagnostics market. Nowadays, people are using various innovative technologies to preserve their best data of patients by using connected diagnostic technology. Connected diagnostics help in sharing that data with doctors and family members. The manufacturers of medical industry hardware are also using connected diagnostics for several purposes. These are the primary factors which are driving the connected diagnostics market.

Challenges

The primary challenge faced by healthcare professionals in connected diagnostics market is the high cost of implementation. The cost of establishing connected diagnostics software in hospital premises is too high, due to its features and installations. The second challenge is to ensure the privacy of the patients. Hospitals have to secure patient records and medical history. The Health Insurance Portability and Accountability Act (HIPAA) security rule was announced for the protection and accessibility of these records.

Global Connected Diagnostics Market: Segmentation

The connected diagnostics market can be segmented into deployment, component, application, and regions.

Segmentation of the connected diagnostics market on the basis of deployment:

On-premises
Cloud

Segmentation of the connected diagnostics market on the basis of component:

Hardware
Software
Services

Segmentation of the connected diagnostics market on the basis of application:

CROs
Clinics
Hospitals
Others

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Global Connected Diagnostics Market: Competition Landscape

Key Players

The names of the companies are: Abbott, Danaher, Becton, Dickinson and Company, Johnson & Johnson, Roche Diagnostics, Siemens, Sysmex Corporation, Thermo Fisher Scientific, and McKesson Corporation.

Global Connected Diagnostics Market: Regional Overview

On the basis of geography, North America is expected to capture the largest market share, owing to well-developing connected diagnostics vendors, and due to the presence of various innovative technology developers and manufacturers in the region. Europe is also expected to gain substantial market share due to the introduction of new technologies and applications. APAC is expected to be the fastest growing connected diagnostics market, owing to the government initiatives being taken towards the improvement of technologies by emerging economies such as India and China.

The connected diagnostics markets in Latin America and MEA is also expected to witness high growth rates in the coming period, due to an increase in the demand in medical uses.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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