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North America dominates the global connected medical device market with an estimated market share of 38.2% in 2024, due to strong presence of top medical device companies and supportive healthcare policies for innovative medical technologies. Being the home for leading players such as Medtronic, GE Healthcare and Abbott.The country is at the forefront of digitally enabling medical devices with connectivity features. Large patient pool, high healthcare spending, presence of advanced infrastructure, and physician affinity towards latest technologies drives the market growth. In recent years, U.S. FDA policies have also encouraged regulatory approvals for connected medical devices.
China, on the other hand, is projected to witness the fastest growth due to growing investments by local medical technology firms as well as global MedTech leaders to tap into the burgeoning Chinese market. Rising disposable incomes and improving accessibility to healthcare can boost demand for high-quality medical products. The Chinese government actively supports development of domestic digital health industry and deploys initiatives like Internet Plus action plan to advance connectivity solutions across various sectors including healthcare. With a goal to become major medical equipment supplier globally, Chinese connected device manufacturers are enhancing capabilities through collaborations, acquisitions and indigenous technology development.
Connected Medical Device Market Report Snapshots
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