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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).
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.
Why is solution segment gaining traction in medical device connectivity industry?
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.
How big is the medical device connectivity market?
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.
Which companies define the competitive landscape of medical device connectivity industry?
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.
What is the size of the U.S. medical device connectivity market?
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.