Connected Medical Device Market
Global connected medical device market growth is driven by factors such as rising geriatric population, growing prevalence of chronic diseases, increasing healthcare costs, and technological advancements. Connected medical devices help in remote monitoring of patients and timely diagnosis of health issues, thus, improving patient outcomes. These also help reduce hospital visits and healthcare costs through remote patient monitoring. Due to growing investments in telehealth and remote care services, connected medical devices market can witness growth during the forecast period.
Market Dynamics:
Global connected medical device market growth is driven by factors like rising incidence of chronic diseases such as diabetes, cardiac disorders, and respiratory diseases coupled with increasing healthcare costs. Growing geriatric population susceptibility to such diseases can also drive the market growth. Technological advancements in connectivity solutions such as Bluetooth, Wi-Fi, and cellular networks have enabled integration of devices and home healthcare systems, thus, driving the market growth. However, data security and privacy concerns regarding rising cybercrimes on healthcare industry can hamper the market growth. High costs associated with development and maintenance of connected devices can limit their adoption in price sensitive developing regions. Growing healthcare investments and rising medical insurance coverage in developing nations can offer new market opportunities during the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global connected medical device market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global connected medical device market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Medtronic, GE Healthcare, Philips Healthcare, Omron Corporation, Boston Scientific Corporation
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global connected medical device market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global connected medical device market
Detailed Segmentation-
Table of Contents
*Browse 32 market data tables and 28 figures on 'Connected Medical Device Market' - Global forecast to 2031
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