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The diversification of healthcare facilities has been motivated by the expansion in the market size and growing demand for medical services. Market reports connected with healthcare industry have been offered by Market Research Future which creates reports on other industry verticals that intends to analyze the current market scenarios better. The market is set to achieve revenues valued at USD 270 billion while achieving a CAGR of 12.9% in the duration of the forecast period.
The e-health services market share is benefitted by the presence of a robust information and telecommunication sector, which has led to a significant development in the market. The current technological developments in the market are fuelled by the widespread use of software in healthcare and the need to reduce cost and improve efficiencies. Moreover, the market for e-health services is expected to be encouraged by the rising implementation of e-health software in medical facilities globally.
Competitive Analysis
The competitors functioning in the market for e-health services are Allscripts Healthcare Solutions Inc. (U.S), GE Healthcare (U.S), Boston Scientific Corp (U.S), McKinsey & Co. (U.S), Apple (U.S), Motion Computing Inc. (U.S), Epocrates Inc. (U.S), Telecare Corp. (U.S), IBM Corporation (U.S), Proteus Digital Health (U.S) GE Healthcare (U.S) and Cerner (U.S).
Segmental Analysis
The segmentation of the e-health services market is carried out on the basis of type, region, and service. Based on type, the e-health service market comprises of segments such as ePrescribing, Electronic Health Records (EHR), big data systems, Telemedicine, Clinical Decision Support System (CDSS), Knowledge Management System (KMS) and Consumer health IT. Based on service, the market for e-health services is segmented into clinical services, financial services, and administrative services. The end user segment of the telemedicine and e-health service market comprises of clinics, hospitals, health insurance companies, and others. The regions encompassed in the e-health services market are Europe, Asia Pacific, Americas, and the Middle East and Africa.
Detailed Regional Analysis
The regional analysis of the e-health services market comprises of regions such as Europe, the Americas, Asia Pacific, Middle East, and Africa. The North American region is the principal market for the e-health services market which is driven by countries such as the US. The presence of top companies and the extensive implementation of software for data management in the market is boosting the progress of the market. The European region is observed as the next chief region in the e-health services market. The Asia Pacific region is showing the most rapid growth in this e-health services market. While the e-health services market in the Middle East and Africa is estimated to display steady growth in the duration of the forecast period.
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These devices are used in various surgical treatments including kidney stones surgery, prostate surgery and uninary tract surgery among others. The latest report published by Market Research Future (MRFR) projects that the global urology devices market value will expand at 7.1% CAGR during the assessment period (2017-2023).
Healthcare expenditure per capita has improved globally, at the same time the ratio of geriatric population continues to grow indifferently, which is also playing an important role is driving the market. Over the years, a wide range of novel medical technologies has arrived in the field of urology. Several groundbreaking minimally invasive surgical procedures have also been developed for treating urological disorders. Such incessant progress has led to development of cutting-edge urology tools. Manufacturers are also focusing on developing and designing organ-specific devices that can better assist surgeons in diagnosing and treating disease in any particular organ in the urinary system.
Global Market for Urology Devices – Competitive Analysis
Some of the prominent market participants profiled in the MRFR’s report include Stryker (US), Olympus Corporation (Japan), Boston Scientific Corporation (US), Cook (US), Dornier MedTech (Germany), NIKKISO CO. LTD (Japan), KARL STORZ GmbH & Co. KG (Germany), HealthTronics, Inc. (US), Medtronic (US), Fresenius Medical Care AG & Co. KGaA (Germany), and C. R. Bard, Inc. (US).
Global Market for Urology Devices – Segmental Analysis
Base on types, the market has been segmented into urinary stone treatment devices, benign prostatic hyperplasia treatment devices, dialysis equipment, urinary incontinence & pelvic organ prolapsed devices, endoscopy devices and others. The dialysis equipment segment is further sub-segmented into haemodialysis, peritoneal dialysis and others. The urinary incontinence & pelvic organ prolapsed devices segment is further sub-segment into vaginal meshes & slings, urethral inserts & pessaries, sacral neuromodulator and others. The urinary stone treatment devices segment is further sub-segmented into lithotripsy, ureteral stents and others. The Benign prostatic hyperplasia treatment devices segment in further sub-segmented into catheter ablation, prostatic stents and others. Based on application, the market has been segmented into prostate cancer, urinary incontinence, benign prostatic hyperplasia, urinary stones and others. Based on technology, the market has been segmented into robotic surgery, minimally invasive surgery and others. By end users, the market has been segmented into ambulatory services, hospital and others.
Regional Overview
The market in Americas is expected to witness a healthy growth during the projection period. This is mainly attributed to increasing incidences of traumatic injuries, prostate cancer, kidney stones across the region. Also, existence of an advanced healthcare infrastructure and higher healthcare expenditure is favoring the growth of the market in the region. Meanwhile, Europe holds the second spot in the global urology market. Favorable government policies and expanding geriatric population is propelling the region’s market. In Asia Pacific (APAC), rapid industrialization and economic growth has contributed to the growth the healthcare sector, which is auguring well for market player operating in the region.
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The market for holographic images is projected to grow at tremendous CAGR over the forecast period (2018-2027), according to the extensive report by Market Research Future (MRFR). Growing awareness of the use of holography for medical research, medical education and medical imaging purposes drive the market growth. The market is slated to witness high growth owing to rapid adoption of holography techniques by surgeons, academic medical centers, and biomedical researchers. Moreover, technological advances in hologram recording techniques and the availability of tools for interpretation of holographic interferograms should boost its demand in the field of urology, pathology, ophthalmology, and orthopedics. Furthermore, endoscopic holography used for non-contact high resolution and noninvasive measurements inside the human organs will emerge as a popular tool in the coming years.
The global Holographic Imaging market share is also witnessing rapid developments in 3D dynamic displays due to improvements in laser holographic and electro holographic technologies. Also, the rising demand for holographic projections at marketing events, fashion shows, and conferences is expected to fuel the market growth. In addition, the availability of various types of content and mobile applications has created a need for advanced display technologies, like holographic display, which provide high-performance features with smaller form factors and low energy use. This, in turn, has increased the research and development activities of the holographic display technology in the consumer electronics sector, and the emergence of several market players in this sector too is aiding in market growth. Owing to this, the holographic images market is expanding from aerospace & defense to broader commercial segments, like entertainment, and automotive.
Key Players
Some of the key players in this market are Leia (U.S), Holoxica (U.K), EON Reality (U.S), Lyncee Tec (Switzerland), RealView Imaging (Israel), Zebra Imaging (U.S), Ovizio Imaging Systems (Belgium) and many more.
Majority of key players incorporate strategies such as acquisition and mergers, collaborations, and product launches with technological advancement to gain a competitive edge over others and strengthen their presence in the global market.
Market Segmentation
The holographic images market is segmented on the basis of application, type, and end user.
On the basis of applications, the market is segmented into surgery assistance, surgery preplanning, interventional cardiology, digital intimacy, and other medical applications. The holographic imaging allows surgeons to see an individual’s anatomy without cutting into the body. There are numerous startup companies that are developing holographic imaging products for surgery, thus immense demand for this technology in surgeries worldwide has propelled the use of this technology in healthcare for surgeries.
By type, the market is segmented into Athos, health patch, skin sensor, Hexoskin, smart tooth, flexible energy-harvesting sensor, and others. Numerous applications for Hexoskin include healthcare, chronic disease management, sleep medicine, security & defense, and space exploration missions. Thus, increasing demand by professionals and healthcare practitioners with pushes this segment to grow globally.
End users of the holographic images market include hospitals, clinics, research centers and others. The holograph technology has been increasingly adopted by research centers and surgeons, as holograms allow doctors to undertake extensively minute colonoscopies virtually, eliminating the need of a physical testing procedure. Moreover, the increasing prevalence of cardiovascular and neurological disorders among the growing global geriatric population will spur holographic imaging market growth.
Regional Analysis
Geographically, the global holographic images market is primarily spread across North America Europe, Asia, and Rest-of-the-World (RoW).
Globally, North America leads the market for holographic images. The North America market is projected to expand at a phenomenal CAGR during the forecast period. The driving factors of North America medical holography market are emergence of holography as a useful technology in representing abnormal 3D structures, increasing adoption of holography in medical and biomedical research and also growth in the applications of holography in medical field.
On the other hand, Europe is the second-largest market for holographic images which is also presumed to grow at a steady CAGR during the forecast period. Increasing awareness about the holographic imaging in medical education, medical research, and medical imaging purposes along with rise in holography techniques adoption by the academic medical centers, surgeons, and biomedical researchers propel the holographic imaging market in this region. Moreover, technology advancements in the hologram recording procedures, also drive the holographic imaging market in Europe.
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The Global hospital furniture market has been witnessing upswings in the recent years and presents a positive outlook for the forthcoming years. According to Market Research Future (MRFR)'s analysis, the global hospital furniture market is poised to register a CAGR of 9.8% over the forecast period of 2017-2023. With the rapid increase in a number of hospitals and healthcare centers around the world, and emphasis being laid to provide improved facilities is the primary driving force behind the growth of the market. The government in various developing countries is encouraging new hospitals in the private sector in order to increase treatment facilities in accordance with the latest developments. Increasing patient expectations towards better hospital infrastructure also have a catalyzing effect on the growth of the global hospital furniture market. Other driving factors for the growth of the market include increasing healthcare expenditure, persistent development in technology and innovations in hospital furniture. Whereas, long life of furniture and the substantial cost associated with them are the most prominent hurdles to the growth of the global hospital furniture market growth.
Competitive Landscape
The prominent players operating in the global hospital furniture market include KI (US), GPC Medical (India), Stryker Corporation (US), Beaver Healthcare Equipment (UK), The Brewer Company (US), Beaver Healthcare Equipment (UK), DRE INC (US), Renray Healthcare Ltd. (UK), Moore Medical LLC (US), Bio Medical Solutions (India), GPC Medical Ltd (India), Anetic Aid Limited (UK), Hill-Rom (US),
Chang Gung Medical Technology (China), Narang Medical (India), Bristol Maid Hospital Metalcraft (UK).
Segmentation
The global hospital furniture market has been segmented based on type, application, and end users. By type, the hospital furniture market has been segmented into bedside tables, OT table, instrument stands, stretchers, hospital beds, chairs, scrub sinks, waste container, trolley, and others. By application, the hospital furniture market has been segmented into physician furniture, patient’s furniture, and staff’s furniture. The physician furniture segment has been segmented into examination table, surgery chair and other. The patient furniture segment has been further segmented into stretchers, bedside table, and others, while the staff's furniture segment has been further segmented into stands and other. By end users, the healthcare furniture market has been segmented into hospital, diagnostic centers, clinics, and others.
Regional Analysis
The global hospital furniture market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas has commanded the dominant position in the global hospital furniture market. High healthcare spends, and soaring demand for better infrastructure and medical facilities have accelerated the market in the Americas. Europe and Asia Pacific account for nearly same share of the global hospital furniture market, but Asia Pacific market is expected to expand at a relatively faster rate than other markets. Growing burden of various diseases has resulted in higher demand for healthcare centers which has contributed to the growth of the market. Moreover, rapid development in the healthcare sector and rising healthcare expenditure in the developing economies of the region aid the expansion of the market. The presence of key players in the region and high investment in healthcare sector substantiates the growth of the Europe market. The Middle East & Africa market account for the least share of the market due to low expenditure on healthcare.
The global cardiac catheterization market is accruing pervasively mainly due to the growing rate of cardiovascular disorders, worldwide. Currently, the world is witnessing the increasing number of cardiac disorders cases and issues related to heart diseases. Sadly, the figure is expected to grow every year; despite the several innovative therapies and procedures. The rising prevalence of these diseases is becoming a major concern fuelling the growth of the global cardiac catheterization market.
Acknowledging the fiercely ascending market, Market Research Future (MRFR) in its recently published study report asserts that the global cardiac catheterization market will continue to grow by 2023, registering a CAGR of 9.2% during the forecast period (2017-2023).
Rising technological advancements transpired in the field of heart care, bringing a diversity of engineering and design backgrounds, privacy, liability, and financial perspectives necessary to succeed in a complex health care system. Global Cardiac Catheterization market is growing as continuously increasing the patients suffering from arterial diseases. Changing lifestyle, an increasing number of the patient suffering from obesity and diabetes has also helped to expand the market of the cardiac medical device manufacturing.
Key Players:
Some of the eminent leaders of the market include Coloplast (Denmark), Boston Scientific Corporation (US), Dispocard GmbH (Germany), St. Jude Medical (US), Becton, Dickinson and Company (US), Abbott (US), Teleflex Incorporated (US)., Johnson & Johnson Private Limited (US), Smiths Medical (US), Medtronic Inc (US), Edwards Life Sciences Corporation (US), Rochester Medical Corporation (U.S), Terumo Medical Corporation (Japan), and Maquet Medical India Private Limited (India).
Cardiac Catheterization Market – Segments
The market is segmented into five Key dynamics for an easy grasp.
By Procedures : Balloon Septostomy, Coronary Angioplasty, Catheter Ablation, Bipolar Pacing, Left Heart Catheterization, and Right Heart Catheterization among others.
By Types : Fractional Flow Reserve, Coronary Angiogram, Intravascular Ultrasound, and Optical Coherence Tomography among others.
By Applications : Heart Attack, Abnormal Stress Test, Coronary Vasospasm, and Cardiac Arrhythmia, among others.
By End-Users : Hospitals and Clinics among others.
By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Cardiac Catheterization Market - Regional Analysis
The North American region accounts for the global leader for the cardiac catheterization market owing to the increasing prevalence of cardiovascular diseases among the rising geriatric population, vulnerability to hypertension and obesity issues leading to the heart diseases and disorders. The market is constantly growing due to huge people suffering from major or minor heart issues.
Additional factors substantiating the market growth include increasing government initiatives and funding for research, rising demand for technologically advanced cardiac catheterization treatments, and the developments in advanced medical treatment options.
The European region is the second-largest market for cardiac catheterization. Attributing to the increasing healthcare expenditure and availability of advanced treatment facilities, along with the government initiatives of healthcare, the European market is estimated to register a phenomenal CAGR during the forecast period.
Cardiovascular disease is one of the major concerns in Europe; it significantly contributes to the market growth in this region. Growing rate of cardiovascular disorders alongside government initiatives are expected to positively impact the market growth of the cardiac catheterization market in this region.
The Asia Pacific region is rapidly emerging as a promising market for cardiac catheterization. Increasing geriatric population alongside the prevalence of cardiac disorders and diabetes growing at an alarming rate is fostering the market growth in the APAC region.
Global Cardiac Catheterization Market - Competitive Analysis
The market is fiercely competitive due to the presence of several large and small players forming a competitive edge in the market incorporating strategic partnership, collaboration, acquisition, expansion, and technology launch. Significant investments are transpired in the field to bring innovations to the therapy and clinical trials. High growth potential demonstrated by the market is likely to attract several new entrants, this, in turn, will result in intensifying the market competition further.
Hospitals are investing heavily in R&D and clinical trials to develop a comprehensive, efficient, and state-of-the-art cardiac catheterization facility to provide tailor-made transplant surgeries based on the ailments, age, and other complications. With advanced diagnostics, and comprehensive rehabilitation schedule these hospitals ensure that the patient has access to the best care at every stage of the transplant journey.
Market Insights
Original Equipment Manufacturers (OEMs) are witnessing an increased demand as the products they often manufacture vital for the completion of a finished healthcare product. With the healthcare sector evolving rapidly to adopt advancing technologies. OEMs are essentially responsible for the most instruments and devices used in the healthcare sector, including software designed specifically for healthcare use, thus consistently driving market growth as the requirements and demands are always changing. The increasing adoption of healthcare IT is another vital factor in encouraging healthcare OEM market growth. A growing emphasis on high-quality products and optimal utilization of resources which have led to reduced costs are some other drivers that will ensure market growth.
The global healthcare OEM market Share is set to witness a CAGR of USD 16.2% during the forecast period of 2017 to 2023. This projection among others has been made in Market Research Future's market report on healthcare OEM market. The global healthcare sector is booming with advancing technologies and a rising patient pool, thus driving the demand for a wide range of medical products. Valued at USD 160 Bn in 2016, the market is due to grow to reach an estimated evaluation of USD 250 Bn by the end of 2023.
Key Players
The global healthcare OEM market is highly competitive, and MRFR's market report includes several leading market players in its analysis. Key players include Dell, Tata Consultancy Services Ltd., Koninklijke Philips N.V., IBM Corporation, Wipro, Esaote SpA, Drägerwerk AG & Co. KGaA, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions, Siemens Healthcare GmbH, Johnson & Johnson, Hitachi Medical Systems America, Inc., Xerox Corporation, Toshiba Medical Systems Corporation, Accenture Plc., Infosys Ltd., Baxter International, Aramark, GE Healthcare, and Cognizant Technology Solutions Corporation.
Market Segmentation
MRFR has performed an in-depth segmental analysis of the market on the basis of type, OEM solutions, application, and region. Based on the type, the market is segmented into healthcare software and medical device & instruments. Healthcare software is sub-segmented into billing & claims management, front/back-office operations, provider management, OT management, financial management, HR, and others. Medical device & instruments are further segmented into surgical, and diagnostic. Extensive analysis and further sub-segmentation on type can be found in MRFR's report.
By OEM medical solutions, the market is segmented into quality control & regulatory compliance, packaging & sterilization, manufacturing & fabrication, product design & development, technical support, project management, and order fulfillment & flexible distribution.
Based on applications, the market is categorized into dentistry, laboratory, veterinary, healthcare administration, surgery, dialysis, pharmaceutical & cosmetics, ophthalmology, and others. Global segmentation of the market includes the Americas, Europe, Asia Pacific, and the Middle East & Africa.
Regional Analysis
Led by the U.S, the Americas account for close to 40% of the global market due to the presence of a large number of market players in the region. The presence of significant software sector which has many players operating in the healthcare field is a significant contributor to the regions market position. The growing demand for advanced healthcare IT solutions and other healthcare technology is expected to facilitate market growth.
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Market Synopsis:
Market Research Future (MRFR)has published a detailed report stating that the global healthcare security systems market is marked to expand at a noteworthy CAGR of 9.5% during the forecast period of 2018-2024. Increased adoption of cloud-based solution of data storage and management in the healthcare sector is increasing the vulnerability of healthcare data towards theft and criminal activities. Rise in incidences of cybercrimes is inducing high demand for optimized security services, which in turn is propelling the expansion of the global healthcare security systems market. However, low penetration of advanced technology in underdeveloped regions and high cost of services are likely to act as restraining factors on the growth of the global healthcare security systems (HSS)market size.
Key Players:
Some of the key players profiled by MRFR that are operating in the global healthcare security systems market are Avigilon Corporation (Canada), Schneider Electric SE (the U.S.), Cisco Systems, Inc. (the U.S.), Tyco Security Products, Nedap Security Management, ADT LLC dba ADT Security Services (the U.S.), STANLEY Healthcare (France), Seico Security (the U.S.), Atos SE (Germany), Johnson Controls (the U.S.), Allied Telesis, Inc. (the U.S.), Siemens AG, Bosch Security Systems, Honeywell International, Inc., and others.
Market Segmentation:
The global hospital security systems market has been segmented on the basis of type, surveillance system, application, and end-user. Based on type, the global healthcare security systems market has been segmented into CCTV system, access control systems, infant security system, intrusion detection instruments, security alarm, metal and explosive detectors, RFID tags, and others. The access control systems segment has been sub-segmented into biometric systems, smart cards, chipper locks, and X-Ray screening system. The security alarm segment has been sub-segmented into burglar alarms, fire alarm, carbon monoxide alarm, and others. Based on surveillance system, the global healthcare security systems market has been segmented into video surveillance, surveillance cameras, and others. Based on application, the global healthcare security systems market has been segmented into surgical equipment tracking, medical devices tracking, document and data file tracking, patient tracking, monitoring, and others. Based on end-user, the global healthcare security systems market has been segmented into hospital, clinics, diagnostic centers, pharmacy, laboratories, and others.
Regional Analysis:
Geographically, the global healthcare security system market has been segmented into four major regions such as the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa. The Americas dominate the global healthcare security systems market with a significant market share. Rising cyber security threats, increased utilization of cloud-based solutions in the well-developed healthcare sector that require optimized security solutions and high risk of security to the medical data in the growing healthcare industry are fueling the growth of the healthcare security systems market in this region. Increased incorporation of advanced technology in the healthcare industry and high demand for effective healthcare security systems are leading to the notable expansion of the healthcare security systems market in the Europe region. Increasing reliance on cloud-based solutions in the healthcare sectors of emerging economies and rise in awareness regarding security threats to a large amount of healthcare data are propelling the expansion of the healthcare security systems market in the Asia Pacific region. However, low penetration of advanced technology and poor healthcare facilities in the underdeveloped countries are restraining the growth of the healthcare security systems market in the Middle East and Africa region.
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Proteins are necessary for the human body to perform various functions such as catalyzing metabolic reactions, DNA replication, responding to stimuli, and transporting molecules from one location to another. Therefore, the protein engineering market is lucrative. Protein engineering is required to produce biological compounds which include a storage protein, synthetic peptide, and the synthetic drugs that will be superior to a normal one and create an enzyme with superior properties to produce high-value chemicals in large quantities.
Market Research Future (MRFR) has published a research report about the global protein engineering market report that anticipates stable surge for this market with 6.2% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023. The most important factors driving the market include increasing demand for new technologies for the healthcare applications and the growth in research and development (R&D) activities for improving health outcomes using novel technologies. Other factors include the emergence of trends in protein identification & tracking and the increasing use of protein studies in R&D activities. Some factors that can put breaks on the market growth include expensive instruments used in protein engineering that require huge maintenance and lack of trained personnel.
Key Players
The key players in the global protein engineering market AB-Sciex (USA), Agilent Technologies (USA), Bio-Rad Laboratories Inc. (USA), Bruker Corp. (USA), GE Healthcare (UK), Perkin Elmer (USA), Sigma-Aldrich Corp. (USA), Thermo Fisher Scientific (USA), and Waters Corp. (USA).
The regional segmentation of the global protein engineering market segments the market into continent-based regional market namely the Americas (North America & South America), Europe, Asia-Pacific, and the Middle East and Africa (MEA). In the Americas, North America is a bigger market than South America due to advanced technology and better healthcare facilities. The Americas is the largest regional market as North America alone holds the potential to be the largest market due to its strong economies namely the United States of America (USA) and Canada. North America is a powerful market due to the presence of many major market players in this region, especially in the USA. Another important reason for the market growth in this region is the increase in the number of biotechnology and pharmaceutical companies. In the USA, extensive protein engineering technologies & methods and availability of technologically-advanced devices & instruments for research are also driving the market the market growth. In South America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future.
According to the report, the Asia Pacific is expected to emerge as the fastest growing market during the forecast period. In this region, the market is driven by the need for new technologies with their application in healthcare and the rising prevalence of lifestyle diseases such as diabetes, heart diseases, obesity, etc. The primary country-specific markets in this region are Australia, China, India, Japan, and South Korea, followed by the rest of Asia Pacific.
The MEA region shows steady but positive growth with an increase in the demand for new drugs and devices for diagnosis as well as the treatment of diseases and improvement in healthcare infrastructure. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, poor healthcare facilities, and healthcare not considered a priority by most governments. The crucial country-specific markets in this region are Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE), followed by the rest of the MEA region.
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 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 analysis in the forthcoming period.
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, electromedical devices, 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.
Market Highlights
The global Structural Health Monitoring market is projected to exhibit a CAGR of ~15% during the forecast period of 2022 to 2030.
The global Structural Health Monitoring market is projected to record a CAGR of ~15% during the forecast period. Structural Health Monitoring is a type of monitoring that will detect if there are any damages to the structures. Structural health monitoring can be applied to many different types of structures such as buildings, bridges, and pipelines. It can also be used on other objects such as aircraft and ships.
The COVID-19 outbreak has significantly impacted the global economy by disrupting production and demand, impacting the supply chain in the market. The government put a contingency plan in place by putting people inside their houses with no contact with the outside world. The government imposed a country-wide lockdown to minimize the risk of any further outbreaks.
There was a decrease in the demand for structural health monitoring market trends. During this pandemic, people were focusing on necessary items and were avoiding the unnecessary costs. This has decreased the demand for infrastructure projects. Furthermore, the government stopped all unnecessary activities that have stopped various construction and infrastructure projects.
Segmental Analysis
The global structural health monitoring market has been segmented based on offering, technology, end-use, and region. By offering, the global structural health monitoring market has been segmented into hardware, software & services. The software & services segment is anticipated to witness rapid growth in the global structural health monitoring market. As soon as the data arrives at the sensors, the software starts monitoring and analyzing its structure. The software provides the visual representation of the data on structural behavior and allows people to see the changes in real-time so that damages can be detected at the earliest. To do this, structures need to be monitored regularly. Structural health monitoring is crucial for any project with a large infrastructure. Structural failures are also increasing frequently, which is why this technology has become more urgent. To ensure the health and integrity of various structures and systems, one can use an approach based on the data collection from sensors installed around the building or machine. These include parameters related to loading, stress, strain and acceleration. Furthermore, it can be challenging for structural engineers to process and analyze such high volumes of data. To get around this, software platforms, apps, and other coding solutions are being adopted.
By technology, the global structural health monitoring market has been segmented into wired and wireless. The wired segment is expected to be the fastest-growing market in the global structural health monitoring industry. Today, many structures are being monitored with wired systems. These include bridges, buildings, and dams. The use of wired structural health monitoring systems has gained traction in the 21st century. These include the wires, cables, and fibers that enable the acquisition of data from sensors. It also enables communication with other devices. Wired network monitoring systems are good for many things including reducing data attenuation, being high-speed, the system having no limitation on transmission range, and the network having a high system bandwidth.nd for structural health monitoring systems. In other words, these systems can be used to maintain and monitor the condition of each structure and avoid catastrophic failures.
Regional Analysis
Geographically, the global structural health monitoring market has been categorized as North America, Europe, Asia-Pacific, and Rest of the World. In recent years, the North American market has seen enormous development in the structural health monitoring sector. Structural health monitoring has been transforming the way buildings are built and sustained. Companies have been using this service to detect and prevent structural issues such as building collapse, fire, or structural failure that can cost thousands of dollars to repair.
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