PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1397234
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1397234
Medical Device Connectivity Market Outlook by Offering, Technology, Application, End User - Global Industry Revenue Estimation and Demand Forecast to 2030
The projected revenue for the global medical device connectivity market is anticipated to reach USD 11,879.4 million by 2030, demonstrating a Compound Annual Growth Rate (CAGR) of 24.8% from 2024 to 2030. This growth is attributed to increased funding for medical infrastructure, the proliferation of automated workflows, a rise in strategic collaborations and partnerships, an escalation in chronic diseases, and the expanding elderly population.
The outbreak of the novel coronavirus has stimulated greater spending on medical infrastructure, driven by heightened interest in home healthcare, an increased demand for remote patient monitoring, and the need for more precise and efficient patient analysis to enhance healthcare treatments. Additionally, the market's growth is fueled by the pursuit of cost reduction through shorter stays in medical facilities, fewer office visits, and reduced readmissions.
Companies are actively adopting strategies such as collaboration, partnership, and acquisition to gain a competitive advantage. For instance, in 2021, Koninklijke Philips N.V. acquired Capsule Technologies Inc., a prominent supplier of medical device integration and data technologies for hospitals, to strengthen its position in patient care management connectivity solutions. Similarly, in 2020, Cerner Corporation collaborated with Xealth to support health systems in selecting, managing, and deploying digital tools and apps, providing physicians with access to remote monitoring and increased patient involvement.
In terms of end-users, hospitals dominate the industry, constituting 55% of the total revenue share in 2023. This is attributed to the expansion of the healthcare sector, an increasing number of hospitals, favorable insurance plans, reimbursement policies, a growing elderly population, a significant influx of patients, and the availability of advanced medical equipment in hospitals. Furthermore, the rising incidence of chronic diseases, high purchasing power of hospitals for modern medical device connectivity solutions, and a growing emphasis on delivering high-quality patient care and safety are expected to further propel market growth in this category.
The Asia-Pacific (APAC) market is poised to exhibit the fastest growth during the forecast period, with the highest CAGR. This growth is attributed to increased Research and Development (R&D) spending for cutting-edge healthcare infrastructure, government initiatives to enhance healthcare facilities, rising per capita income, a large patient population, a surge in infectious and non-infectious diseases, growing awareness of early disease diagnosis, and increased research and development activities in the region.
In the United States, the healthcare sector is witnessing consolidation, with large national and regional healthcare systems expanding. Since the implementation of the Patient Protection and Affordable Care Act (PPACA) in 2010, healthcare businesses in the U.S. have been mandated to use sophisticated healthcare IT solutions. The sector is experiencing an expansion of patient bases and a maximization of existing resources to reduce healthcare delivery costs, leading to a high demand for medical device connectivity solutions.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by offering
- 1.4.2. Market size breakdown, by technology
- 1.4.3. Market size breakdown, by application
- 1.4.4. Market size breakdown, by end user
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Offering (2017-2030)
- 6.3. Market Revenue, by Technology (2017-2030)
- 6.4. Market Revenue, by Application (2017-2030)
- 6.5. Market Revenue, by End User (2017-2030)
- 6.6. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Offering (2017-2030)
- 7.3. Market Revenue, by Technology (2017-2030)
- 7.4. Market Revenue, by Application (2017-2030)
- 7.5. Market Revenue, by End User (2017-2030)
- 7.6. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Offering (2017-2030)
- 8.3. Market Revenue, by Technology (2017-2030)
- 8.4. Market Revenue, by Application (2017-2030)
- 8.5. Market Revenue, by End User (2017-2030)
- 8.6. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Offering (2017-2030)
- 9.3. Market Revenue, by Technology (2017-2030)
- 9.4. Market Revenue, by Application (2017-2030)
- 9.5. Market Revenue, by End User (2017-2030)
- 9.6. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Offering (2017-2030)
- 10.3. Market Revenue, by Technology (2017-2030)
- 10.4. Market Revenue, by Application (2017-2030)
- 10.5. Market Revenue, by End User (2017-2030)
- 10.6. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Offering (2017-2030)
- 11.3. Market Revenue, by Technology (2017-2030)
- 11.4. Market Revenue, by Application (2017-2030)
- 11.5. Market Revenue, by End User (2017-2030)
- 11.6. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Offering (2017-2030)
- 12.3. Market Revenue, by Technology (2017-2030)
- 12.4. Market Revenue, by Application (2017-2030)
- 12.5. Market Revenue, by End User (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Offering (2017-2030)
- 13.3. Market Revenue, by Technology (2017-2030)
- 13.4. Market Revenue, by Application (2017-2030)
- 13.5. Market Revenue, by End User (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Offering (2017-2030)
- 14.3. Market Revenue, by Technology (2017-2030)
- 14.4. Market Revenue, by Application (2017-2030)
- 14.5. Market Revenue, by End User (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Offering (2017-2030)
- 15.3. Market Revenue, by Technology (2017-2030)
- 15.4. Market Revenue, by Application (2017-2030)
- 15.5. Market Revenue, by End User (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Offering (2017-2030)
- 16.3. Market Revenue, by Technology (2017-2030)
- 16.4. Market Revenue, by Application (2017-2030)
- 16.5. Market Revenue, by End User (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Offering (2017-2030)
- 17.3. Market Revenue, by Technology (2017-2030)
- 17.4. Market Revenue, by Application (2017-2030)
- 17.5. Market Revenue, by End User (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Offering (2017-2030)
- 18.3. Market Revenue, by Technology (2017-2030)
- 18.4. Market Revenue, by Application (2017-2030)
- 18.5. Market Revenue, by End User (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Offering (2017-2030)
- 19.3. Market Revenue, by Technology (2017-2030)
- 19.4. Market Revenue, by Application (2017-2030)
- 19.5. Market Revenue, by End User (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Offering (2017-2030)
- 20.3. Market Revenue, by Technology (2017-2030)
- 20.4. Market Revenue, by Application (2017-2030)
- 20.5. Market Revenue, by End User (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Offering (2017-2030)
- 21.3. Market Revenue, by Technology (2017-2030)
- 21.4. Market Revenue, by Application (2017-2030)
- 21.5. Market Revenue, by End User (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Offering (2017-2030)
- 22.3. Market Revenue, by Technology (2017-2030)
- 22.4. Market Revenue, by Application (2017-2030)
- 22.5. Market Revenue, by End User (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Offering (2017-2030)
- 23.3. Market Revenue, by Technology (2017-2030)
- 23.4. Market Revenue, by Application (2017-2030)
- 23.5. Market Revenue, by End User (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Offering (2017-2030)
- 24.3. Market Revenue, by Technology (2017-2030)
- 24.4. Market Revenue, by Application (2017-2030)
- 24.5. Market Revenue, by End User (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Offering (2017-2030)
- 25.3. Market Revenue, by Technology (2017-2030)
- 25.4. Market Revenue, by Application (2017-2030)
- 25.5. Market Revenue, by End User (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Offering (2017-2030)
- 26.3. Market Revenue, by Technology (2017-2030)
- 26.4. Market Revenue, by Application (2017-2030)
- 26.5. Market Revenue, by End User (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Offering (2017-2030)
- 27.3. Market Revenue, by Technology (2017-2030)
- 27.4. Market Revenue, by Application (2017-2030)
- 27.5. Market Revenue, by End User (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Offering (2017-2030)
- 28.3. Market Revenue, by Technology (2017-2030)
- 28.4. Market Revenue, by Application (2017-2030)
- 28.5. Market Revenue, by End User (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Cerner Corporation
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.2. Medtronic plc
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Masimo Corporation
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Koninklijke Philips N.V.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. GE HealthCare Technologies Inc.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Stryker Corporation
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. iHealth Labs Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.8. Cisco Systems Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Lantronix Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Silicon & Software Systems Ltd.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.11. Infosys Ltd.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
- 30.12. Baxter International Inc.
- 30.12.1. Business overview
- 30.12.2. Product and service offerings
- 30.12.3. Key financial summary
- 30.13. Silex Technology Inc.
- 30.13.1. Business overview
- 30.13.2. Product and service offerings
- 30.14. Bridge-Tech Medical Inc.
- 30.14.1. Business overview
- 30.14.2. Product and service offerings
- 30.15. Honeywell International Inc.
- 30.15.1. Business overview
- 30.15.2. Product and service offerings
- 30.15.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
