DUBLIN--(BUSINESS WIRE)--The "Network Connected Medical Devices Market Research Report: By Product, Connectivity Technology, Regional Insight - Global Industry Size, Share Analysis and Growth Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
By 2024, the market is expected to gather $66.6 billion revenue, compared to $19.5 billion in 2018, registering a 23.5% CAGR during the forecast period (2019-2024).
The major driving factors for the network connected medical devices market are the technical advancements that have led to the development and inclusion of connected medical devices in the healthcare domain, rising incidence of chronic diseases, and surging geriatric population.
The network connected medical devices market is observing the trend of partnerships and collaborations among market players to develop such devices. Medical device manufacturing companies are partnering with technology providers to amalgamate the two niches to develop IoT-empowered solutions. This is being done to capture significant market shares by expanding their reach. Further, the demand for such devices by end users, such as hospitals and other healthcare centers, is high due to their cost-effectiveness and efficiency.
The rapid inclusion of network connected medical devices in healthcare settings is a major supporting factor in the network connected medical devices market growth. The efficiency in the healthcare sector is primarily dependent on healthcare providers and cost-effective treatment. For effective monitoring, the medical device industry is witnessing a revolution in terms of the functioning of the devices. Smart medical devices, such as defibrillators, insulin pumps, cardiac monitoring devices, oxygen tanks, and continuous positive airway pressure (CPAP) machines, are helping in real-time remote patient monitoring, thereby obviating the need for frequent hospital visits.
The network connected medical devices market is segmented by region, product, and connectivity technology. Based on connectivity technology, the categories of the market are ZigBee, Bluetooth Low Energy (BLE), satellite, Wi-Fi, near field communication (NFC), and cellular. During the historical period (2014-2018), the largest revenue share in the market was held by the BLE category. Even in the forecast period, this category is expected to witness the fastest growth at a 23.9% CAGR, which can be credited to the ability of the technology to quickly transfer data over a short range.
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product
184.108.40.206 Patient monitoring devices
220.127.116.11.1 Cardiac monitoring devices
18.104.22.168.1.1 Mobile cardiac telemetry monitors
22.214.171.124.1.4 Implantable loop recorders
126.96.36.199.2 Respiratory monitoring devices
188.8.131.52.2.1 Pulse oximeters
184.108.40.206.2.4 Peak flow meters
220.127.116.11.3 Neuromonitoring devices
18.104.22.168.4 Multi-parameter monitoring devices
22.214.171.124.5 Hemodynamic monitoring devices
126.96.36.199.6 Temperature monitoring devices
188.8.131.52.7 Weight monitoring devices
184.108.40.206 Glucose monitors
220.127.116.11 Insulin pumps
18.104.22.168 Dialysis machines
22.214.171.124 CPAP machines
126.96.36.199 Infusion pumps
188.8.131.52 Smart hospital beds
184.108.40.206 Oxygen tanks
220.127.116.11 Coagulation testing
18.104.22.168 CT scanners
22.214.171.124 X-ray imaging systems
126.96.36.199 Ingestible sensors
4.1.2 By Connectivity Technology
4.2 Market Dynamics
188.8.131.52 Increasing collaborations and partnerships
184.108.40.206 Surge in the number of product launches and approvals
220.127.116.11 Increasing penetration of network connected medical devices in healthcare
18.104.22.168 Growing investment in network connected medical devices
22.214.171.124 Growing geriatric population
126.96.36.199 Surge in the prevalence of chronic diseases
188.8.131.52 Technological innovations
184.108.40.206 Advanced applications of smart phone-based mHealth technologies
220.127.116.11 Increasing popularity of network connected medical devices in personalized healthcare
18.104.22.168 Impact analysis of drivers on market forecast
22.214.171.124 Data privacy and security issues
126.96.36.199 Insufficient memory, computational, and energy limitations
188.8.131.52 Lack of healthcare infrastructure in emerging markets
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 Increasing adoption of cloud technology in healthcare
18.104.22.168 Growth opportunities in the emerging economies
4.3 Porter's Five Forces Analysis
4.4 Regulatory Scenario for Network Connected Medical Devices
4.4.1 North America
Chapter 5. Global Market Size and Forecast
5.1 By Product
5.1.1 Patient Monitoring Devices Market by Type
22.214.171.124 Cardiac monitoring devices market by type
126.96.36.199 Neuromonitoring devices market by type
188.8.131.52 Respiratory monitoring devices market by type
5.2 By Connectivity Technology
5.3 By Region
Chapter 6. North America Market Size & Forecast
Chapter 7. Europe Market Size & Forecast
Chapter 8. APAC Market Size & Forecast
Chapter 9. LATAM Market Size & Forecast
Chapter 10. MEA Market Size & Forecast
Chapter 11. Competitive Landscape
11.1 Key Players and Their Product Offerings
11.2 Strategic Developments of the Key Players
11.2.1 Product Launches
11.2.2 Collaborations and Partnerships
Chapter 12. Company Profiles
12.1 PhysIQ Inc.
12.1.1 Business Overview
12.1.2 Product & Service Offerings
12.2 Koninklijke Philips N.V.
12.3 NuvoAir AB
12.4 General Electric Company
12.5 Myontec Ltd.
12.6 Nonin Medical Inc.
12.7 Draegerwerk AG & Co. KGaA
12.8 OMRON Corporation
12.9 Medtronic PLC
12.10 Proteus Digital Health Inc.
12.11 F. Hoffmann-La Roche Ltd.
12.12 Aerotel Medical Systems Ltd.
12.13 Fresenius Medical Care AG & Co. KGaA
12.14 OxyGo LLC
12.15 Aero Healthcare AU Pty Ltd.
12.16 Hill-Rom Holdings Inc.
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