Report Ocean recently released a research report on the Network Connected Medical Devices Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global network connected medical devices market size was US$ 21.9 billion in 2021. The global network connected medical devices market is forecast to grow to US$ 32.4 billion by 2030, registering a compound annual growth rate (CAGR) of ~6.5% during the forecast period from 2022-2030.
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Factors Influencing
- The global network connected medical devices market is growing due to extensive demand for automation and growing cases of chronic conditions. Moreover, the trending use of smartphones is forecast to benefit the market players during the study period.
- The availability of efficient health techniques and increasing healthcare expenditure due to investments by private and government organizations are forecast to accelerate the market growth during the study period.
- The global network connected medical devices market is forecast to gain traction due to the growing trend of home healthcare.
- IoT devices help obtain data related to blood pressure, oxygen, blood sugar, weight, and ECGs. Through smartphone applications, medical data can be saved for future references and treatment. Thus, such advantages are forecast to accelerate the market growth.
- The evolution of cloud technology and its growing adoption worldwide is forecast to benefit the market players.
- The demand for remote healthcare and the limited reach of healthcare bodies are forecast to fuel the market growth. Emerging economies witness a pool of patients mainly in rural areas who travel long distances for regular check-ups and treatments. Thus, the demand for network-connected medical devices is forecast to grow rapidly.
- Security issues and data privacy issues may hamper the growth of the global network connected medical devices market.
Regional Analysis
The global Network-connected medical devices market would grow significantly in North America, mainly due to the extensive adoption of IT solutions and technological advancements in the healthcare domain. In addition, favorable government laws and initiatives, such as HITECH law, are forecast to benefit the market players.
The boosting trend of eHealth, mainly in the United States, would contribute to the growth of the region.
Network connected medical devices market is forecast to grow rapidly in the Asia-Pacific region. It is due to the growing demand for remote healthcare and efficient devices and techniques, such as smartwatches, smartphone apps, etc.
COVID-19 Impact Analysis
The demand for network-connected medical devices surged during the pandemic. Due to the COVID-19 infection, it was mandatory to perform regular health check-ups, such as blood pressure, blood sugar, weight, temperature, etc. As a result of this, the demand for network-connected medical devices grew suddenly.
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Competitors in the Market
- Nonin Medical Inc.
- NuvoAir AB
- Koninklijke Philips N.V.
- Hoffmann-La Roche Ltd.
- PhysIQ Inc.
- General Electric Company
- Drgerwerk AG & Co. KGaA
- Fresenius Medical Care AG & Co. KGaA
- Medtronic plc
- Myontec Ltd.
- OxyGo LLC
- Proteus Digital Health Inc.
- Aerotel Medical Systems Ltd.
- Aero Healthcare AU Pty Ltd.
- OMRON Corporation
- Hill-Rom Holdings Inc.
- Other prominent players
Market Segmentation
Insight by Product
- Insulin Pumps
- Patient Monitoring Devices
- Defibrillators
- Glucose Monitors
- Infusion Pumps
- Smart Hospital Beds
- Ct Scanners
- Cpap Machines
- Ingestible Sensors
- Dialysis Machines
- Coagulation Testing
- X-Ray Imaging Systems
- Ventilators
- Oxygen Tanks
Insight by Connectivity Technology
- Satellite
- Bluetooth-Low Energy (Ble)
- Near Field Communication (Nfc)
- Zigbee
- Cellular and Wi-Fi
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Insight by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Network Connected Medical Devices Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Network Connected Medical Devices market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Network Connected Medical Devices Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Network Connected Medical Devices market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Network Connected Medical Devices market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Network Connected Medical Devices market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Network Connected Medical Devices market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Network Connected Medical Devices business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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