The global network connected medical devices market is expected to grow at a CAGR of 24.0% during the forecast period with its market size valued at USD 20.0 billion in 2018. Globally, network connected medical devices industry players are undertaking product innovations and technological upgradations that are enabling the manufacturers to gain competitive advantage across the globe.
IoT devices help in transferring and collecting health data such as oxygen, blood pressure, weight, blood sugar and ECGs. Network connected devices enable real time monitoring connected with smartphone application, connected devices aims at collecting medical and other required data pertaining to health and further aims at sending the collected information to a physician which enables flexible and efficient medical operations.
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Patient monitoring devices category held largest share in the network connected medical devices market in 2018
On the basis of product, the global network connected medical devices market is categorised into 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 and oxygen tanks. Amongst these segments, patient monitoring devices are anticipated to generate largest revenue owing to extensive adoption of cloud technique in healthcare and high cost of these devices.
Network connected medical devices market in North America is anticipated to generate largest revenue by 2024 owing to extensive adoption of IT solutions in healthcare domain and prevalence of modern healthcare IT infrastructure. Furthermore increased legislatives initiatives undertaken in countries of this region such as HITECH law along with existence of large market players of connected devices are another factors that are strengthening the growth of network connected medical devices market in North America.
Some of the players having prominent presence in the global network connected medical devices market include 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, and Hill-Rom Holdings Inc.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global network connected medical devices market on the basis of product, connectivity technology, and region.
Global Network Connected Medical Devices Market Coverage
Product Insight and Forecast 2014-2024
Connectivity Technology Insight and Forecast 2014-2024
Network Connected Medical Devices Market by Region
Rest of the World (RoW)