Connected Medical Devices Market – Smart Strategies of the Research and Developm

Posted by vinit sawant on April 20th, 2021

Market Synopsis

Connected medical devices use wireless or wired connectivity resources in order to collect and monitor patient data. Connected medical devices reduce human error by accurate and uninterrupted data. The market is considered as one of the most lucrative markets and is estimated to generate considerable revenue in the coming years.

The global connected medical devices market size is presumed to expand at a significant CAGR during the forecast period (2018-2023) owing to the adoption of IT in the healthcare sector, asserts Market Research Future (MRFR).

Drivers and Constraints Impacting the Market

With the growing prevalence of chronic diseases such as cancer, diabetes, hypertension, and others along with the risk factors associated with it such as asthma, sleep apnea, obesity and others, the global market for connected medical devices is estimated to drive the global market.

The increasing patient monitoring systems across the globe, growing adoption of IT in the healthcare sector, and rising awareness regarding connected medical devices are likely to people the market growth during the forecast period. Moreover, technological advancements, quick approval from regulatory authorities for connected medical devices, and research and development activities are anticipated to foster the market.

Additionally, key vendors in the consumer wearables market like Fitbit are focusing on maintaining an online presence as it reduces the distribution, setup, and the operational costs. Owing to such advantages, vendors are rapidly penetrating the online platform which is further fostering the market growth.

Global Connected Medical Devices Market: Segmental Analysis

The global connected medical devices market has been segmented on the basis of device, product, application, end-user, and region.

By mode of product, the global connected medical devices market has been segmented into smart pill dispenser, heart rate monitor, portable GPS pers, pulse oximeter, BP monitor, insulin pump, ECG monitoring devices, glucose monitor, and others. Among these, the device segment is further sub-segmented into wearables and non-wearables.

By mode of application, the global connected medical devices market has been segmented into consultation and diagnosis services, remote monitoring, fitness, treatment services, and wellness services.

By mode of end-users, the global connected medical devices market has been segmented into ambulatory surgical centers, specialty clinics, hospitals, home care settings/monitoring, and others.