Medical Device Connectivity Market Projected to Grow at 37% CAGR by 2019 - Transparency Market Research

The global medical device connectivity market. The report titled, “Medical Device Connectivity Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019” states that the global (MDC) medical device connectivity market has been valued at US$33.5 billion in 2019 with a CAGR of approximately 37% between 2013 and 2019.

Medical device connectivity (MDC) is used to remotely control, configure and monitor patient’s administration data such as dose, rate, timing etc., physiological data and other key information. This helps healthcare providers provide best possible care to their patients. MDC not only enhances clinical analytics capabilities and decision support but also creates accurate and complete picture of patients’ conditions. This leads to improved care processes and patient outcomes. Medical devices can be connected on wired or wireless networks. Wired networks are easily configured, fast and stable. Wireless network technologies including bluetooth, Wi-Fi, and wireless medical telemetry service, provide ubiquitous connectivity and coverage and allow uninterrupted patient monitoring. Wired networks have high initial installation and maintenance cost.

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One of the major trends in the market is that most of the hospitals are looking at connecting not just one or two devices in critical care units but looking at connecting the whole hospital or enterprise including ICUs, critical care, telemetry step down units, operating units etc.  For instance, the companies such as Capsule Tech Inc. deliver connectivity to an ever-growing list of specialized medical devices across the hospital enterprise, such as pediatric ventilators and cerebral oximeters. Furthermore, wireless technology for MDC market is growing rapidly owing to the benefits offered such as cost, portability and maintenance benefits. This acts as an internal substitute for the conventional wired technology. Different end users such as hospitals and home healthcare are switching towards adoption of wireless connectivity over wired.

Majority of American patients support the adoption of home medical devices to improve and manage prolonged chronic conditions. In 2010 Centers for Disease Control, the USA (CDC) reported that 45.2% of the Americans have at least one chronic disease such as asthma, diabetes or heart disease. MDC facilitates the connection of medical devices with physicians to keep a continuous watch on abnormalities of patients at home in a cost effective manner. MDC facilitates the connection of medical devices with physicians to keep a continuous watch on abnormalities of patients at home in a cost effective manner. Without MDC, information related to patients is scattered throughout the hospital. Automating the data transfer from medical devices to EMR facilitates improved communication. Thus clinicians as well as healthcare providers are likely to have all available medical information, which helps in making proper diagnostic decisions. These benefits and advantages of MDC enhance patient healthcare services. Thus clinicians and nurses spend more time on patient care, rather than documentation of data. This improves patient satisfaction as well as patient safety.

Browse the full Medical Device Connectivity Market (Wired hardware, Wireless hardware and Software) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019 report at http://www.transparencymarketresearch.com/medical-device-connectivity-market.html

• Medical device connectivity market by Component
  • Wireless hardware
  • Wi-Fi hardware
  • WMTS hardware
  • Bluetooth hardware
  • Wired hardware
  • Software
• Medical device connectivity market by End user
  • Hospitals
  • Home healthcare
  • Others
• Medical device connectivity market by Geography
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

 
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