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The need to achieve worthwhile and
dependable patient monitoring systems is a major factor guiding the development
of the market presently. Moreover, the escalated level of detection of chronic
diseases and risk factors is expected to further urge market development to a
greater degree in the forecast period. The expedited approval rate of the
connected device market is estimated to benefit the expansion of the connected
medical devices market in the forthcoming period.
The connected medical devices market is
anticipated to reach USD 5,600 Million by 2030 at 5.80% CAGR during the
forecast period 2022-2030.The amplified need to achieve communication with
patients to monitor their health on a regular basis is driving the need for
connected devices as well. Reports that examines the medical device industry
has been offered by Market Research Future, which produces reports on industry
verticals that evaluate the market development and opportunities. The market is
projected to increase its market share with a positive CAGR in the coming
years.
Detailed Regional
Analysis
The regional review of the connected
medical device market observes that the Americas region is likely to govern the
global associated medical devices market. The mounting prevalence of recurring
diseases, mounting cognizance about the connected medical devices, promising
policies from regulatory and government authorities, implementation of
increasingly advanced technology and determined strategies implemented by major
players in the market are encouraging the market growth. The European region
market is projected to be the next chief connected medical devices market. The
market development in this region can be accredited to government backing and
backing of the healthcare sector connected with growing research and
development. Furthermore, the upsurge in awareness about the connected medical
devices is adding to the development of the market in this region. The Asia
Pacific region is expected to display reasonable growth for connected medical
devices market throughout the upcoming period owing to the growing occurrence
of chronic diseases, mounting investments in healthcare and upsurge in
implementation of new medical technologies in the region. The market in the
Middle East & African region is anticipated to be responsible for the
minimum share of the connected medical devices market owing to a weak
healthcare sector, lack of technical expertise, and deprived medical
facilities.
The distinguished contenders in the connected
medical devices market players are Medtronic Plc, OMRON Corporation,
Philips Healthcare, GE Healthcare, Inc., iHealth Labs (subsidiary of Andon
Health), Fitbit, Inc., Johnson & Johnson, Boston Scientific Corporation, F.
Hoffmann-La Roche, St. Jude Medical, Inc. (Abbott), McKesson Corporation,
AgaMatrix, Inc., Dexcom, Polar Electro, and Aerotel Medical Systems Ltd.
Segmental Analysis
The examination of the segments in the
connected medical devices market has been conducted on the basis of device,
product, application, region, and end-user. Based on the product, the connected
medical devices market has been segmented into insulin pump, ECG monitoring
devices, BP monitor, glucose monitor, portable GPS pers, pulse oximeter, heart
rate monitor, smart pill dispenser, and others. The device segment has been
further divided into wearables and non-wearables.The application-based
segmentation of the market comprises of consultation and diagnosis services,
remote monitoring, treatment services, fitness, and wellness services. Based on
end-user, the reprocessed medical devices market has been segmented into
hospitals, specialty clinics, ambulatory surgical centers, home care
settings/monitoring, and others.Based on the region, the connected
medical devices market is segmented into the Asia Pacific, the Americas,
Europe, and the Middle East & Africa.
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The report also helps in understanding Connected Medical Devices Market Size, Share, Analysis dynamics, structure by analyzing the market segments and project the Global Glycidyl Methacrylate Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global oil-filled transformer Market make the report investor’s guide.
Connected Medical Devices Market is expected to grow at a CAGR of 21.90% during the forecast period and the market size is expected to reach nearly US$ 163.27 Bn by 2029.
Connected Medical Devices Market Overview :
The purpose of this research is to offer an overview of the Connected Medical Devices industry as well as thorough market segmentation by segments and geographies. The study includes vital information on the market positions of the top Connected Medical Devices organizations, as well as major industry trends and possibilities.
The study also focuses on the major industry players in the Global Connected Medical Devices market, including information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into global, regional, and company market trends, volume, and value. This study examines the whole Connected Medical Devices Market Size from a worldwide viewpoint, evaluating historical data and making projections.
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Market Scope :
Following the completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Both top-down and bottom-up approaches, as well as numerous data triangulation methods, were widely used throughout the market engineering process to achieve market estimation and forecasts for the overall market segments and sub-segments offered in the Connected Medical Devices market study. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are computed using weights assigned to each segment based on usage rate and average sale price. To determine the country-wise splits of the overall market and its sub-segments, the percentage adoption or usage of the given market Size in the relevant area or nation is employed.
Segmentation :
Also, the growing popularity of wearable medical devices between consumers who are capable of detecting diabetes at an early stage is surging the connected medical device market globally. High use of smartphones, mobile platforms, and applications that are aiding to monitor health issues decreases the patient admission rate in hospitals.
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Key Players :
• Aerotel Medical Systems Ltd.
• AgaMatrix Inc.
• Boston Scientific Corporation
• Dexcom
• F. Hoffmann-La Roche
• Fitbit Inc.
• GE Healthcare Inc.
• iHealth Labs (subsidiary of Andon Health)
• Johnson & Johnson
• McKesson Corporation
• Medtronic PLC
• Omron Corporation
• Philips Healthcare
• Polar Electro
• St. Jude Medical Inc. (Abbott)
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Acquisitions, partnerships, and collaborations were among the inorganic growth strategies mentioned in the industry. Industry participants in the Connected Medical Devices market are expected to profit from strong future growth possibilities due to rising demand. The following are a few firms involved in the global Connected Medical Devices industry.
Regional Analysis :
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after examining the political, economic, social, and technological variables influencing the Connected Medical Devices market in these regions.
COVID-19 Impact Analysis on Connected Medical Devices Market :
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19's impact on the Connected Medical Devices market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Connected Medical Devices Market Report are :
- What will be the Connected Medical Devices market's CAGR throughout the projected period?
- Which market category emerged as the market leader in the Connected Medical Devices industry?
- Who are the key players in the Connected Medical Devices market?
- How big will the Connected Medical Devices market be in 2027?
- Which firm had the biggest market share in the Connected Medical Devices industry?
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The need to achieve worthwhile and dependable patient monitoring systems is a major factor guiding the development of the market presently. Moreover, the escalated level of detection of chronic diseases and risk factors is expected to further urge market development to a greater degree in the forecast period. The expedited approval rate of the connected device market is estimated to benefit the expansion of the connected medical devices market in the forthcoming period.
The amplified need to achieve communication with patients to monitor their health on a regular basis is driving the need for connected devices as well. Reports that examines the medical device industry has been offered by Market Research Future, which produces reports on industry verticals that evaluate the market development and opportunities. The market is projected to increase its market share with a positive CAGR in the coming years.
The distinguished contenders in the connected medical devices market are Medtronic Plc, OMRON Corporation, Philips Healthcare, GE Healthcare, Inc., iHealth Labs (subsidiary of Andon Health), Fitbit, Inc., Johnson & Johnson, Boston Scientific Corporation, F. Hoffmann-La Roche, St. Jude Medical, Inc. (Abbott), McKesson Corporation, AgaMatrix, Inc., Dexcom, Polar Electro, and Aerotel Medical Systems Ltd.
Segmental Analysis
The examination of the segments in the connected medical devices market has been conducted on the basis of device, product, application, region, and end-user. Based on the product, the connected medical devices market has been segmented into insulin pump, ECG monitoring devices, BP monitor, glucose monitor, portable GPS pers, pulse oximeter, heart rate monitor, smart pill dispenser, and others. The device segment has been further divided into wearables and non-wearables. The application-based segmentation of the market comprises of consultation and diagnosis services, remote monitoring, treatment services, fitness, and wellness services. Based on end-user, the reprocessed medical devices market has been segmented into hospitals, specialty clinics, ambulatory surgical centers, home care settings/monitoring, and others. Based on the region, the connected medical devices market is segmented into the Asia Pacific, the Americas, Europe, and the Middle East & Africa.
Detailed Regional Analysis
The regional review of the connected medical device market observes that the Americas region is likely to govern the global associated medical devices market. The mounting prevalence of recurring diseases, mounting cognizance about the connected medical devices, promising policies from regulatory and government authorities, implementation of increasingly advanced technology and determined strategies implemented by major players in the market are encouraging the market growth. The European region market is projected to be the next chief connected medical devices market. The market development in this region can be accredited to government backing and backing of the healthcare sector connected with growing research and development. Furthermore, the upsurge in awareness about the connected medical devices is adding to the development of the market in this region. The Asia Pacific region is expected to display reasonable growth for connected medical devices market throughout the upcoming period owing to the growing occurrence of chronic diseases, mounting investments in healthcare and upsurge in implementation of new medical technologies in the region. The market in the Middle East & African region is anticipated to be responsible for the minimum share of the connected medical devices market owing to a weak healthcare sector, lack of technical expertise, and deprived medical facilities.
About US:
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
