Global Medical Device Connectivity Market Size By Product & Service (Medical Device Connectivity Solutions, Medical Device Connectivity Services), By Component (Wireless Technologies, Wired Technologies), By Application (Hospitals, Home Healthcare), By Ge

The medical device connectivity market is projected to reach USD 4.9 billion by 2026 from USD 1.7 billion in 2021, at a CAGR of 24.4%.

The adoption of electronic health records and health information exchange systems is increasing, as are regulations aimed at enhancing healthcare quality, the demand for home healthcare is rising in response to the growing geriatric population, patient diagnosis has improved, and healthcare IT initiatives are expanding. All of these factors are contributing to the significant growth of the global market for medical device connectivity. The demand for medical device connectivity is further supported by the rising prevalence of chronic diseases, the growing importance of patient safety and care quality, and the growing desire to lower healthcare costs by establishing a networked healthcare environment. The market is expanding due to the increasing adoption of telehealth solutions as well as the connectivity of medical devices that facilitates data analytics. According to product type, the market for services is anticipated to expand at a faster rate than that of solutions during the forecast period. This is because users are expected to use connectivity solutions more frequently, there are more regulations and healthcare reforms in place, more healthcare information exchange systems are being implemented, and there is a greater need for effective implementation.

Market Definition
A patient-centered system of integrated medical technology called Medical Device Connection (MDC) analyses and keeps track of patients' electronic health records (EHR). Medical professionals can monitor a patient at all times, even from a distance, thanks to medical devices connected via wireless network technologies. As medical device technology develops, hospitals strive for comprehensive, accurate, and complete medical device data to enhance clinical results and patient safety.

Market Synopsis
Medical Device Connection (MDC), a patient-centered network of connected medical equipment, analyses and monitors patients' electronic health data (EHR). Thanks to medical gadgets connected via wireless network technology, medical practitioners may continuously monitor a patient, even from a distance. Hospitals aim for thorough, accurate, and full medical device data as medical equipment technology advances in order to improve clinical outcomes and patient safety. It is also projected that the growing focus on patient safety and care quality will fuel market expansion. The cost benefits of the associated healthcare environment in relation to increased healthcare spending also limit market expansion throughout the anticipated period.

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Global Medical Device Connectivity Market: Segmentations

Global Medical Device Connectivity Market: By Key Players
Cisco Systems
Qualcomm
Philips Healthcare
Infosys
Cerner
TE
GE
Digi International
ViNES
Minnetronix
Bernoulli health
S3 Group
EDevice

Global Medical Device Connectivity Market: By Types
Wireless Type
Wired Type

Global Medical Device Connectivity Market: By Applications
Hospital
Clinics
Imaging & Diagnostic centers

Global Medical Device Connectivity Market: Regional Analysis
The countries covered in the regional analysis of the Global Medical Device Connectivity market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Porter's Five Forces
The illustration offered would aid in learning more about Porter's five forces framework, which serves as a guide for comprehending rivals' actions and a player's strategic posture within an industry. The porter's five forces model can be used to evaluate the level of competition in the worldwide market for medical device connection, determine how appealing a particular industry is, and evaluate investment opportunities.

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COVID Analysis
The COVID-19 pandemic had a significant impact on the medical device connection business because of the surge in demand for surveillance equipment and patient engagement solutions. As a result of COVID-19, there is now a greater requirement for medical device connectivity integration in patient monitoring devices and systems in both institutional and home care settings. Instead, manufacturers concentrate mostly on growing their product ranges in order to satisfy this growing demand. Many medical facilities actively expand patient monitoring to transient settings like home care. Additionally, there has been an increase in demand for particular items connected to the COVID-19 response, such as respiratory equipment, wireless monitoring systems, and point-of-care cardiac monitoring devices.

Key questions answered by the report
1. What is the expected revenue Compound Annual Growth Rate (CAGR) of the global medical device connectivity market over the forecast period (2023-2032)?
2. What was the size of the global medical device connectivity market in 2021?
3. Which factors are expected to drive global medical device connectivity market growth?
4. Which was the leading segment in the medical device connectivity market based on technology in 2021?
5. What are some restraints for growth of the global medical device connectivity market?

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