Market Overview:
The global network connected medical devices market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for remote patient monitoring and rising prevalence of chronic diseases. In addition, technological advancements in medical devices are also contributing to the growth of this market. Based on type, the global network connected medical devices market is segmented into cardiac monitoring devices, neuro monitoring devices, and respiratory monitoring devices. Cardiac monitoringdevices held the largest share in 2017 and are expected to continue its dominance duringthe forecast period due to increasing incidence of cardiovascular diseases (CVDs).
Product Definition:
A Network Connected Medical Device is a device that can connect to a network, typically the internet. These devices can include things like computers, medical scanners, and other medical equipment. Network connected medical devices can allow for data sharing between different medical devices as well as centralized management and monitoring of these devices. This allows for more efficient and accurate patient care. Additionally, network connected medical devices can be utilized for research purposes to help improve patient outcomes.
Cardiac Monitoring Devices:
Cardiac monitoring devices are used to monitor the heart's activity and provide information that can be helpful for doctors in treating cardiovascular diseases.
Neuro Monitoring Devices:
Neuro monitoring devices are used to monitor the brain and spinal cord. It is a noninvasive technology that measures electrical activity of the brain using sensors placed on or near the surface of the skin. The data obtained from these sensors is then transmitted to a device that displays it in real-time or stores it for future analysis.
This technology has been around for more than two decades, but only recently has its application expanded beyond research settings.
Application Insights:
Based on application, the market is segmented into hospital, clinic and other. The hospital segment dominated the overall industry in terms of revenue in 2017. This can be attributed to factors such as increasing prevalence of chronic diseases and rising number of surgeries at hospitals across countries worldwide. Furthermore, an increase in investments by governments for developing advanced healthcare facilities will boost product demand over the forecast period.
The other application segment includes home healthcare monitoring devices that are used for tracking vital signs obtained from a patient¢â‚¬â„¢s wrist or mobile device via Bluetooth connectivity with a network connected monitor system or via Wi-Fi connectivity with a network connected monitor system at home or remotely located care centers.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to various factors such as favorable government initiatives, increasing adoption of IoT-based technologies and growing demand for remote patient monitoring services. Moreover, presence of major players in the healthcare sector is also expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to rising geriatric population and awareness about advanced technologies among patients & their families. In addition, rapid technological advancements coupled with increased penetration of wireless connectivity are some other factors driving regional market growth during the forecast period. Furthermore, economic development in countries like India and China has led these nations being a hub for medical device manufacturing companies globally; thus making Asia Pacific an attractive region for investors looking to capitalize on these trends driving forces mentioned above (patient population & awareness).
Growth Factors:
- Increasing demand for network connected medical devices from hospitals and clinics owing to the advantages of real-time monitoring and data sharing.
- Proliferation of mHealth apps that use network connected medical devices for remote patient monitoring, which is resulting in increased demand for such devices.
- Growing popularity of telemedicine services that use network connected medical devices to provide healthcare services at a distance, thereby driving the market growth.
- Rising number of chronic diseases across the globe, which is leading to an increase in demand for network connected medical devices for disease diagnosis and treatment purposes.
Scope Of The Report
Report Attributes
Report Details
Report Title
Network Connected Medical Devices Market Research Report
By Type
Cardiac Monitoring Devices, Neuro Monitoring Devices, Respiratory Monitoring Devices
By Application
Hospital, Clinic, Other
By Companies
PhysIQ, Philips, NuvoAir AB, GE, Myontec Ltd, Nonin Medical, Drgerwerk, OMRON, Medtronic, Proteus Digital Health, Roche, Aerotel Medical Systems, Fresenius Medical Care, OxyGo LLC, Aero Healthcare, Hill-Rom
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Network Connected Medical Devices Market Report Segments:
The global Network Connected Medical Devices market is segmented on the basis of:
Types
Cardiac Monitoring Devices, Neuro Monitoring Devices, Respiratory Monitoring Devices
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- PhysIQ
- Philips
- NuvoAir AB
- GE
- Myontec Ltd
- Nonin Medical
- Drgerwerk
- OMRON
- Medtronic
- Proteus Digital Health
- Roche
- Aerotel Medical Systems
- Fresenius Medical Care
- OxyGo LLC
- Aero Healthcare
- Hill-Rom
Highlights of The Network Connected Medical Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cardiac Monitoring Devices
- Neuro Monitoring Devices
- Respiratory Monitoring Devices
- By Application:
- Hospital
- Clinic
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Network Connected Medical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A network connected medical device is a type of electronic health record (EHR) that communicates with other devices and systems in the patient's care, such as hospital equipment, home health equipment, and ambulatory monitoring devices. This allows for more seamless coordination of care between different providers.
Some of the major companies in the network connected medical devices market are PhysIQ, Philips, NuvoAir AB, GE, Myontec Ltd, Nonin Medical, Drgerwerk, OMRON, Medtronic, Proteus Digital Health, Roche, Aerotel Medical Systems, Fresenius Medical Care, OxyGo LLC, Aero Healthcare, Hill-Rom.
The network connected medical devices market is expected to grow at a compound annual growth rate of 10.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Network Connected Medical Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Network Connected Medical Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Network Connected Medical Devices Market - Supply Chain
4.5. Global Network Connected Medical Devices Market Forecast
4.5.1. Network Connected Medical Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Network Connected Medical Devices Market Size (000 Units) and Y-o-Y Growth
4.5.3. Network Connected Medical Devices Market Absolute $ Opportunity
5. Global Network Connected Medical Devices Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Network Connected Medical Devices Market Size and Volume Forecast by Type
5.3.1. Cardiac Monitoring Devices
5.3.2. Neuro Monitoring Devices
5.3.3. Respiratory Monitoring Devices
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Network Connected Medical Devices Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Network Connected Medical Devices Market Size and Volume Forecast by Application
6.3.1. Hospital
6.3.2. Clinic
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Network Connected Medical Devices Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Network Connected Medical Devices Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Network Connected Medical Devices Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Network Connected Medical Devices Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Network Connected Medical Devices Demand Share Forecast, 2019-2026
9. North America Network Connected Medical Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Network Connected Medical Devices Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Network Connected Medical Devices Market Size and Volume Forecast by Application
9.4.1. Hospital
9.4.2. Clinic
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Network Connected Medical Devices Market Size and Volume Forecast by Type
9.7.1. Cardiac Monitoring Devices
9.7.2. Neuro Monitoring Devices
9.7.3. Respiratory Monitoring Devices
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Network Connected Medical Devices Demand Share Forecast, 2019-2026
10. Latin America Network Connected Medical Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Network Connected Medical Devices Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Network Connected Medical Devices Market Size and Volume Forecast by Application
10.4.1. Hospital
10.4.2. Clinic
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Network Connected Medical Devices Market Size and Volume Forecast by Type
10.7.1. Cardiac Monitoring Devices
10.7.2. Neuro Monitoring Devices
10.7.3. Respiratory Monitoring Devices
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Network Connected Medical Devices Demand Share Forecast, 2019-2026
11. Europe Network Connected Medical Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Network Connected Medical Devices Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Network Connected Medical Devices Market Size and Volume Forecast by Application
11.4.1. Hospital
11.4.2. Clinic
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Network Connected Medical Devices Market Size and Volume Forecast by Type
11.7.1. Cardiac Monitoring Devices
11.7.2. Neuro Monitoring Devices
11.7.3. Respiratory Monitoring Devices
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Network Connected Medical Devices Demand Share, 2019-2026
12. Asia Pacific Network Connected Medical Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Network Connected Medical Devices Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Network Connected Medical Devices Market Size and Volume Forecast by Application
12.4.1. Hospital
12.4.2. Clinic
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Network Connected Medical Devices Market Size and Volume Forecast by Type
12.7.1. Cardiac Monitoring Devices
12.7.2. Neuro Monitoring Devices
12.7.3. Respiratory Monitoring Devices
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Network Connected Medical Devices Demand Share, 2019-2026
13. Middle East & Africa Network Connected Medical Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Network Connected Medical Devices Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Network Connected Medical Devices Market Size and Volume Forecast by Application
13.4.1. Hospital
13.4.2. Clinic
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Network Connected Medical Devices Market Size and Volume Forecast by Type
13.7.1. Cardiac Monitoring Devices
13.7.2. Neuro Monitoring Devices
13.7.3. Respiratory Monitoring Devices
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Network Connected Medical Devices Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Network Connected Medical Devices Market: Market Share Analysis
14.2. Network Connected Medical Devices Distributors and Customers
14.3. Network Connected Medical Devices Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. PhysIQ
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Philips
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. NuvoAir AB
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. GE
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Myontec Ltd
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Nonin Medical
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Drgerwerk
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. OMRON
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Medtronic
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Proteus Digital Health
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Roche
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Aerotel Medical Systems
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Fresenius Medical Care
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. OxyGo LLC
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Aero Healthcare
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Hill-Rom
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
