Wednesday, 28 August 2013

Medical Device Connectivity Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019

Transparency Market Research
Medical device connectivity is defined as the integration of medical devices with information systems. It is also referred to as biomedical device connectivity or biomedical device integration. This connectivity assists in transfer of data between a medical device and an information system. The term connectivity implies the establishment and maintenance of a connection which facilitates the transfer of data. Medical device integration eliminates manual data entry, thereby reducing human error. It also facilitates frequent and fast data updates, while ensuring better workflow efficiency. Medical device connectivity is facilitated by wireless and wired networks. Wireless networks such as wireless telemetry service, Wi-Fi and Bluetooth ensure better patient monitoring in transit. On the other hand, wired networks incur high installation costs. However, they offer efficient connectivity even in a closed environment, are ubiquitously available and are stable as compared to wireless networks.

The medical device connectivity market promises a double digit growth rate in the near future due to the untapped market potential. At present, many hospitals and clinics are focusing on the improvement of communications systems and patient safety through adoption of workflow automation processes. Workflow automation enables speedy and reliable data analysis. It demands interoperability between various entities namely, healthcare professionals, medical devices and communication systems. With the increased acceptance of medical device connectivity, efforts of healthcare professionals of manual data entry are eliminated and it enables better decision making.

The increased need for workflow automation process and better communication facilities are the major factors driving the growth of this market. The other factors include increased strategic alliances and partnerships to cater to the rising demand and increased investments in the development of integrated medical devices. With the increasing incidence of technology piracy, it is difficult to prevent the misuse of non-licensed technology over biomedical device integration.

This is a major restraint for the growth of this market. The other factors include the security issues and the reliability of the connection. GE Healthcare Ltd., Philips Healthcare, Capsule Technologies, Inc., Draeger Medical GmbH, Siemens Healthcare, Lantronix and Digi International are some of the major players in the medical device connectivity market.

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

This report provides comprehensive analysis of 

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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