The
global medical device connectivity (MDC) market was worth USD 3.5
billion in 2012 and is expected to reach USD 33.5 billion by 2019,
growing at a CAGR of 37.8% from 2013 to 2019. North America was the
largest market for MDC in 2012 due to increasing adoption of
Electronic Medical Records (EMRs) across the region.
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The
MDC market is driven by various factors including increased need for
workflow automation, increased patient safety, saved nursing hours,
increased productivity of healthcare institutions, and minimizing the
need for re-admissions. Integration of data from important healthcare
devices into EMR helps to not only save time but also eliminates
transcription errors and improves the overall patient safety and
care. Enforcement of government regulations regarding the necessity
of EMR is expected to drive the market. However, connectivity and
operational issues, cost barriers for small and mid-sized healthcare
units and security concerns are some of the factors inhibiting the
growth of this market.
Among
all the components, wired hardware segment was the largest and
accounted for 40% of the market share in 2012. Wireless connectivity
technology is expected to witness widespread adoption in MDC owing to
its compatibility, interoperability and cost effectiveness over wired
technology. Different wireless technologies such as Wi-Fi, WMTS, and
bluetooth are being used in connecting medical devices at hospitals,
homes and other healthcare institutes.
Among
different end use segments hospitals held the largest market share in
2012. It is expected to maintain leading position throughout the
forecast period owing to increasing awareness in emerging regions
including Asia Pacific and RoW. Home healthcare is the second largest
end use segment and is expected to show strong growth during forecast
period. The rise in certain medical conditions including high blood
pressure, asthma, diabetes and other respiratory and cardiovascular
diseases requiring continuous monitoring and care have been driving
the market growth in this segment.
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Geographically
North America was the largest MDC market and accounted for 62% in
2012 owing to increased need of efficient health care management and
increasing adoption of EMR. Growing penetration of EMR in countries
such as Germany and UK among others is driving the MDC market in
Europe.
Capsule
Tech Inc. is the leading solution provider of MDC market and held
41.5% of the total market in 2012. Other solution providers include
Cerner Corporation, GE Healthcare, Phillips Healthcare, ISirona Inc.,
and others. The connectivity solution providers are focusing on
research and development to introduce innovative affordable
connectivity solutions.
Medical
device connectivity market analysis, by component
Wireless
hardware
Wi-Fi
hardware
WMTS
hardware
Bluetooth
hardware
Wired
hardware
Software
Medical
device connectivity market analysis, by end user
Hospitals
Home
healthcare
Others
In
addition the report provides cross sectional analysis of the market
with respect to the following geographical segments:
North
America
Europe
Asia-Pacific
RoW
(Rest of the World)
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