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Medical Device Connectivity Market Size

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

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Medical Device Connectivity Market Size

Medical Device Connectivity Market size was valued at USD 1.8 billion in 2022 and is estimated to account for USD 11.4 billion by 2032. Medical device connectivity refers to the ability of various medical devices and equipment to communicate with each other or with healthcare information systems (HIS), such as electronic health records (EHRs).

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For instance, Bluetooth Low Energy (BLE) technology utilizes software and gateways through mobile phones and other similar devices that enables energy-efficient wireless communication and extends the battery life of connected devices. This technology is well-suited for close-range interactions and is compatible with the majority of smartphones and tablets.The popularity of wearable health devices, such as fitness trackers and smartwatches, has led to an increased interest in connectivity for personal health monitoring. Patients can wear these devices to monitor their vital signs and health metrics, and the data can be transmitted in real-time to healthcare providers during remote consultations.

Medical Device Connectivity Market Report Attributes
Report Attribute	Details
Base Year:	2022
Medical Device Connectivity Market Size in 2022:	USD 1.8 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	20.7%
2032 Value Projection:	USD 11.4 Billion
Historical Data for:	2018 to 2022
No. of Pages:	180
Tables, Charts & Figures:	384
Segments covered:	Product and Services, Technology, Application, End-use, and Region
Growth Drivers:	Increasing adoption of wireless networks Growing penetration of EHRs in healthcare organizations Technological advancements in wireless technologies and bluetooth-enabled medical devices Increase in the demand for telehealth and telemedicine technologies
Pitfalls & Challenges:	High cost of deployment Data privacy and security concerns

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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.