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Medical Device Connectivity Market Share

Report ID: GMI7167
Published Date: Oct 2023
Report Format: PDF

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Medical Device Connectivity Market Share

The industry is consolidated in nature, with major companies competing to offer superior products in this business space. Prominent players such as Koninklijke Philips N.V., holds a significant share in the market. These companies are diligently directing their efforts towards continuous product innovation to gain substantial market share. For instance, in July 2022, Koninklijke Philips N.V., announced acquisition of Capsule Technologies Inc. This helped company to expand its patient care management connectivity solution for several healthcare facilities.

Some of the eminent market participants operating in the medical device connectivity industry include:

Koninklijke Philips N.V.
Cerner Corporation
Medtronic
General Electric
Stryker
iHealth Labs Inc.
Cisco Systems, Inc
Masimo
Infosys Limited
Baxter
TE Connectivity
Lantronix Inc
Hill-Rom Services Inc.
Silex Technology America, Inc
Digi International Inc.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for medical device connectivity was valued at USD 1.8 billion in 2022 and is estimated to account for USD 11.4 billion by 2032.

Solution segment garnered USD 945.7 million in 2022 and will continue to grow attributable to the increased adoption of EHRs and interoperability solutions among healthcare organizations as connectivity solutions enable real-time monitoring and data collection, allowing precise decisions.

The U.S. market accounted for USD 575.4 million in 2022 and is predicted to witness substantial growth through 2032, favored by the technological advancements, coupled with substantial healthcare expenditure.

Medtronic, General Electric, Stryker, iHealth Labs Inc., Cisco Systems, Inc, Masimo, Infosys Limited, Baxter, TE Connectivity, Lantronix Inc, and Hill-Rom Services Inc. among others.