Medical Device Connectivity Market is expected to reach US$ 12 billion by 2031 | Cisco Systmes Inc, iHealth Labs Inc, NantHealth Inc, LANTRONIX INC

Medical Device Connectivity Market reached US$ 2.6 billion in 2023 and is expected to reach US$ 12 billion by 2031, growing at a CAGR of 21% during the forecast period 2024-2031.

The Medical Device Connectivity Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.

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Market Overview:

Medical device connectivity involves linking medical equipment to electronic medical records (EMRs) to enable seamless data sharing. In contrast, medical device integration refers to incorporating these devices into a healthcare facility's broader IT infrastructure.

Both connectivity and integration play a vital role in today's healthcare systems. As the number of medical devices involved in patient care continues to grow, efficiently gathering, processing, and utilizing the data they produce has become increasingly important. This capability supports quicker, data-driven decisions, which can accelerate treatment and enhance patient outcomes.

Key factors fueling the market include ongoing technological innovations in medical devices, rising adoption of telemedicine and remote healthcare solutions, and supportive government policies and initiatives.

Evolving Market Forces and Opportunities:

The global medical device connectivity market is experiencing significant growth, largely driven by ongoing technological innovations in the field. One of the primary contributors to this trend is the integration of advanced technologies-such as the Internet of Things (IoT), cloud platforms, and data analytics-into modern medical devices, enhancing their capabilities and overall performance.

IoT-enabled devices, in particular, have revolutionized the way healthcare systems handle data. They allow for real-time connectivity and seamless communication between various medical equipment and healthcare IT systems, enabling more effective patient data management and improved clinical workflows.

Leading companies in the sector are prioritizing innovation to maintain a competitive edge and support the growing demand for connected healthcare solutions. For example, in May 2024, Vivalink introduced a cutting-edge technology platform designed for both Mobile Cardiac Telemetry (MCT) and Holter monitoring. This solution combines remote patient monitoring tools with advanced arrhythmia detection algorithms, optimizing deployment and enhancing care quality. By using a unified platform for both MCT and Holter services, healthcare providers can simplify operations and lower the cost of ambulatory ECG monitoring.

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List of the Key Players in the Medical Device Connectivity Market: Capsule Technologies, Inc., Koninklijke Philips N.V., GE HealthCare, Oracle, Cisco Systmes Inc., iHealth Labs Inc., NantHealth, Inc., LANTRONIX, INC, Infosys Limited, and Masimo.

Research Methodology:

Both primary and secondary data sources have been used in the global Medical Device Connectivity Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Medical Device Connectivity Market:

By Product & Service (Medical Device Connectivity Solutions, Medical Device Connectivity Services)

By Technology (Wired Technologies, Wireless Technologies, Hybrid Technologies)

By Application (Vital Signs and Patient Monitors, Anesthesia Machines and Ventilators, Infusion Pumps, Others)

By End-User (Hospitals, Ambulatory Surgical Units, Diagnostic & Imaging Centers, Others)

By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Recent Developments

In August 2023, Masimo initiated the Stork smart home baby monitoring system in the US. Available in multiple configurations, the baby monitor system features several components, such as Stork Vitals+ and Vitals. Stork Vitals+ features a video camera, a boot with a sensor, and a mobile app. The high-resolution camera delivers better nighttime vision and quality two-way audio, enabling parents to hear and talk to their babies.

In August 2023, FluidAI Medical rolled out the new artificial intelligence (AI)-powered postsurgical monitor, Stream Platform, in Saudi Arabia and Canada. The Stream Platform's global introduction was achieved through strategic collaborations between the company, Gulf Medical, and Canadian Hospital Specialties (CHS). By utilizing the Stream Platform, surgeons can precisely diagnose postoperative leaks and severe complications of digestive tract surgeries, leading to better treatment outcomes.

In June 2023, STAT Health introduced a 24/7 in-ear wearable general wellness product that measures blood flow to the head to allow a better understanding of conditions in the body that occur upon standing.

Regional Analysis for Medical Device Connectivity Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Medical Device Connectivity Market Research Industry:

➠ What are the global figures for sales, production, consumption, imports, and exports in the Medical Device Connectivity market?

➠ Who are the top manufacturers in the global Medical Device Connectivity industry, and what is their current status in terms of production capacity, output, sales performance, pricing structure, cost analysis, profit margins, and overall revenue?

➠ What key opportunities are available for vendors in the Medical Device Connectivity market, and what challenges are they likely to encounter?

➠ Which application areas, end-user segments, or product types are projected to experience significant growth, and how is the market share distributed among them?

➠ What are the major drivers and barriers influencing the growth trajectory of the Medical Device Connectivity market?

➠ What are the primary sales, marketing, and distribution strategies used across the global Medical Device Connectivity industry landscape?

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