Medical Device Connectivity Market

In today’s information age, medical device connectivity allows establishment of connection between various medical equipment and devices in a healthcare setting for information sharing. The global medical automation market attained market value of $ 43,200 million in 2013 and expected to have a sustained growth. Medical devices connectivity market is gaining significance as it allows better patient monitoring and information system, which is the key driver of the market. Additionally, the connected medical devices carry important information such as maintenance schedule along with device tracking system through real time location system (RTLS). Another key driver for the market is the demand for home healthcare due to the advent of technologies such as mobile-health. The connected medical devices can send alerts to physicians or concerned people in case of a healthcare emergency in a home healthcare setting. The system also reduces the number of nursing hours as intelligent medical devices increase operational efficiency of the healthcare staff. Therefore, they can provide optimal patient care in less time and serve more number of patients. Moreover, the healthcare sector is adopting automation in all spheres of their operations and medical device connectivity is an important part of this automation.

However, there are some security concerns such as patient privacy which act as a hindrance for the market growth. Furthermore, small healthcare facilities cannot afford the additional cost of providing connectivity to medical devices which limits the market growth. Another restraint for the market is the connectivity and operational challenges in remote locations, especially in the developing countries. The market has to sustain through these issues until technological advances carried out by market players become potent to overcome these challenges.

Some companies profiled in this report are Cerner Corporation, Digi International Inc., Philips Healthcare, Cisco Systems Inc., Honeywell HomeMed LLC, Siemens Healthcare, eDevice Inc., GE Healthcare Ltd., Cardiopulmonary Corporation and Qualcomm Inc.

KEY BENEFITS

• The in-depth analysis provides market intelligence with respect to segments based on components, end-users and geographies
• Detailed analysis of the top factors impacting the growth of the market based on the current market scenario and projected market trends
• Value chain analysis provides key inputs about the role of all  stakeholders of the market
• Porter’s five force analysis provides deep-dive information about the potency of suppliers & buyers, threat of new entrants & substitutes along with competitive scenario of the market
• SWOT analysis and recent developments of key players are included in the report so that companies can understand the competitive scenario of the market and make strategies for better market capitalization
• Estimations are calculated according to the current market scenario and projected future trends for the analysis period with base revenue of 2012
• The report provides in-depth analysis of the trends and opportunities in various geographies so that companies can make region specific plans to gain competitive advantage

 Medical Device Connectivity Market Report Highlights