Wide adoption of Internet of Things (IoT) in healthcare industry is an emerging trend across the globe: Deployment of innovative technology and equipments in healthcare sector leads to increase the popularity of connected devices among healthcare facilities. Rising need of home care assistance for elderly patients and improvement in home healthcare services is fostering the adoption rate of connected medical devices. Intelligent communication and remote monitoring via smart sensors and devices is propelling the growth of Internet of Things (IoT) market in healthcare sector.
The global connected medical device market is segmented based on applications such as remote monitoring, consultation and diagnosis services, fitness and wellness services and Treatment services. Among these segments, fitness & wellness services and remote monitoring is expected to occupy the largest market share during the forecast period due to accurate health information and efficient patient care services. Asia Pacific region is anticipated to witness healthy growth in global connected medical device market during the forecast period i.e. 2016-2024. Countries such as China, Japan, Korea and India contributing high adoption rate of fitness and wellness devices. China and Japan together occupies 16% share of global medical technology market which is benefitting the expansion of connected medical devices market in the region.
The fitness and wellness service segment occupied over 30% share in digital health market in 2016 and is anticipated to grow lucratively during the forecast period. Availability of advanced products which offers monitoring of physical activity, respiratory rate, and pulse rate and other parameters is expected to fuel the demand for fitness and wellness services in near future.
Health on Cloud: Major boost
Implementation of big data analytics and cloud based technology in healthcare sector to provide electronic health record systems in medical settings helps in effective diagnosis of patients. Ease of access to medical history of a patient is increasing the adoption of patient centric approach and reduces the cost in long healthcare operational facilities. Internet connected medical device allows the intensive care and monitoring of patients with critical health conditions is the major advantage which is propelling the adoption of cloud based technology and connected medical devices across the globe. However, secure access of patient’s data is a biggest challenge for the connected healthcare industry.
“Global Connected Medical Device Market Outlook 2024” contains detailed overview of the global connected medical device market in terms of market segmentation based on product type, by device, by application and by end-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis. This market report also includes provides competitive outlook of some of the major players of the global connected medical device market which includes profiling of companies of Johnson & Johnson, Aerotel Medical Systems Ltd., Philips Healthcare, Cisco Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global connected medical device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions. Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.