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Network Connected Medical Devices Market Growth & Emerging Opportunities

The internet of things (IoT) technology has gained immense popularity in the recent times. The concept basically refers to the connection of devices, any device as long as it has an on and off switch, to internet and to other connected devices. In order for devices to be connected with internet or with other devices, they are integrated with built in sensors. Devices are connected to an IoT platform, which integrates data from various devices and applies analytics for sharing the most important information with applications for building access specific needs, using built-in sensors. IoT is bei

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Network Connected Medical Devices Market Growth & Emerging Opportunities

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  1. vNetwork Connected Medical Devices Market How is Rising Prevalence of Chronic Diseases Driving Network Connected Medical 2024 Network Connected Medical Devices Market to Register 23.5% CAGR during 2019– 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. The global network connected medical devices market is predicted to reach a value of $66.6 billion by 2024, increasing from $19.5 billion in 2018, progressing at a 23.5% CAGR during the forecast period (2019–2024), as per a study by P&S Intelligence. The market is witnessing growth due to the rising adoption of advanced smart phone-based mHealth technologies, surging prevalence of chronic conditions, growing penetration of network connected medical devices in the healthcare sector, and increasing investments by private and government organizations. Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/network- connected-medical-devices-market/report-sample On the basis of product, the market is divided into ingestible sensors, CT scanners, coagulation testing, smart beds, defibrillators, continuous positive airway pressure machines, insulin pumps, patient monitoring devices, glucose monitors, dialysis, infusion pumps, ventilators, oxygen tanks, blood processing devices, and X-ray imaging systems. Out of all these, the patient monitoring devices division dominated the market, holding a share of 19.4% in 2018, owing to the increasing adoption of cloud technology in healthcare and high price of these devices. When connectivity technology is taken into consideration, the network connected medical devices market is categorized into ZigBee, satellite, cellular, Bluetooth- Low Energy (BLE), Wi-Fi, and near field communication. Among these, the BLE category is predicted to dominate the market during the forecast period, accounting for a share of more than 50.0% in2024. This technology consumes less power and further provides high-signal efficiency. Its adoption by healthcare professionals and hospitals is predicted to rise in the years to come due to such advantages. Geographically, North America is predicted to register the highest CAGR of 23.6% during the forecast period in the network connected medical devices market. The high adoption rate of technologically advanced medical devices and technological advancements are driving the regional domain. In addition to this, the increasing research activities in the region are creating wide scope for the expansion of the healthcare industry. This can also be attributed to increasing funds that are being received, which is further predicted to drive the market. The prevalence of chronic diseases across the globe has been increasing swiftly, which is a key driving factor of the network connected medical devices market. Chronic diseases, including respiratory diseases, heart diseases, cancer, diabetes, and strokes, are being caused because of lack of access to preventive care and changing lifestyle of people. Hence, the increasing utilization of network 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. connected medical devices for continuous monitoring and management of chronic diseases is resulting in the growth of the market. Furthermore, the rising participation of companies in the network connected medical devices market and government associations, in the form of funds and promotions, is also projected to result in the growth of the market. For example, Caretaker Medical LLC announced regarding the completion of $3.4 million investment, in May 2018, for accelerating the global commercialization activities for the Food and Drug Administration approved continuous non-invasive blood pressure and vital signs monitor. In conclusion, the market is growing due to the rising prevalence of chronic diseases and increasing involvement of government associations and market players. The research offers market size of the global network connected medical devices market for the period 2014–2024. Market Segmentation by Product Patient Monitoring Devices • oCardiac monitoring devices Mobile cardiac telemetry monitors Electrocardiogram (ECG) Pacemakers Implantable loop recorders ▪ ▪ ▪ ▪ oRespiratory monitoring devices Pulse oximeters Spirometers Capnographs Peak flow meters ▪ ▪ ▪ ▪ oNeuromonitoring devices Electroencephalograph (EEG) Electromyograph (EMG) ▪ ▪ oMulti-parameter monitoring devices oHemodynamic monitoring devices oTemperature monitoring devices oWeight monitoring devices Glucose Monitors Insulin Pumps Dialysis • • • 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. Continuous Positive Airway Pressure (CPAP) Machines Infusion Pumps Defibrillators Ventilators Smart Beds Oxygen Tanks Coagulation Testing Blood Processing Devices Computed Tomography (CT) Scanners X-Ray Imaging Systems Ingestible Sensors Market Segmentation by Connectivity Technology Bluetooth-Low Energy (BLE) Wi-Fi Near Field Communication (NFC) Cellular Satellite ZigBee Market Segmentation by Geography North America Network Connected Medical Devices Market • • • • • • • • • • • • • • • • • • oBy product oBy connectivity technology oBy country – U.S and Canada U.S. network connected medical devices market By product By connectivity technology Canada network connected medical devices market By product By connectivity technology Europe Network Connected Medical Devices Market ▪ ▪ ▪ ▪ ▪ ▪ • oBy product oBy connectivity technology oBy country –U.K., France, Germany, Italy, Spain, and Rest of Europe U.K. network connected medical devices market By product By connectivity technology ▪ ▪ ▪ 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. France network connected medical devices market By product By connectivity technology Germany network connected medical devices market By product By connectivity technology Italy network connected medical devices market By product By connectivity technology Spain network connected medical devices market By product By connectivity technology Asia-Pacific (APAC) Network Connected Medical Devices Market ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ • oBy product oBy connectivity technology oBy country – Japan, China, India, Australia, and Rest of APAC Japan network connected medical devices market By product By connectivity technology China network connected medical devices market By product By connectivity technology India network connected medical devices market By product By connectivity technology Australia network connected medical devices market By product By connectivity technology Latin America (LATAM) Network Connected Medical Devices Market ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ • oBy product oBy connectivity technology oBy country – Mexico, Brazil, and Rest of LATAM Mexico connected medical devices market By product By connectivity technology Brazil connected medical devices market ▪ ▪ ▪ ▪ 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  6. By product By connectivity technology ▪ ▪ Middle East and Africa (MEA) Network Connected Medical Devices Market • oBy product oBy connectivity technology oBy country – Saudi Arabia, South Africa, and Rest of MEA Saudi Arabia connected medical devices market By product By connectivity technology South Africa connected medical devices market By product By connectivity technology ▪ ▪ ▪ ▪ ▪ ▪ 6 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  7. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 7 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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