Global Connected Medical Device Market, , Trends, Analysis, Opportunities, Share and Forecast – 2019-2025

The healthcare industry has witnessed significant transformation over the last few years, aided by the emergence of new technological advancements, such as IoT and Big Data analytics. Internet-connected devices, ranging from hospital imaging equipment to implantable pacemakers and infusion pumps, help healthcare providers and patients in a variety of tasks, such as monitoring vitals, improving diagnostics, regulating dosages, and more. A computer integrated systems Design Company; US hospitals have an average of 10-15 connected medical devices per bed. A critical factor for companies looking to bring connected devices to the market is the wireless device certification process. Increasing expenditure on treating chronic diseases and the need to monitor and curb them have led to significant innovations in the connected devices market, which have enabled individuals to track and keep a check on these chronic diseases.

The connected medical devices market was valued at USD 21.01 billion in 2018, and it is expected to reach USD 77.24 billion by 2025, at a CAGR of 22.26% over the forecast period (2020-2025). 

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Besides, increasing collaborations and partnerships are the evolving trend in the network-connected medical devices market. Players in the market are actively collaborating and partnering with other organizations to provide range cost-effective and less time-consuming services to hospitals and individuals. Thus in this market, the Wifi and Bluetooth connected medical devices market is significantly increasing due to its flexibility and ease of operation. Currently, most of the manufacturers are concentrated on this type of connected device which are also been investing heavily in this technology.

The US connected medical devices market is defined by the presence of established medical device manufactures, an advanced healthcare ecosystem, and significant healthcare expenditure. According to Synopsys, US hospitals have an average of 10–15 connected medical devices per bed. The sale of blood pressure monitoring equipment in the region is expected to cross USD 1.92 billion in 2018, which would be a 370% increase from that in 2013. This makes blood pressure monitoring the most lucrative segment in the US connected medical devices market, which is the major contributor in the region. The region has witnessed a considerable rise in the use of connected medical devices. The size of the US medical devices industry was estimated at about USD 148 billion in 2015 and is expected to cross USD 175 billion by 2020, which clearly indicates the immense potential offered by the region for connected medical devices.

Prominent players having a prominent presence in the global network-connected medical devices market include Nonin Medical Inc., NuvoAir AB, Koninklijke Philips N.V., Hoffmann-La Roche Ltd., PhysIQ Inc., General Electric Company, Drgerwerk AG & Co. KGaA, Fresenius Medical Care AG & Co. KGaA, Medtronic plc, Myontec Ltd., OxyGo LLC, Proteus Digital Health Inc., Aerotel Medical Systems Ltd., Aero Healthcare AU Pty Ltd., OMRON Corporation, and Hill-Rom Holdings Inc.

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