Medical device connectivity market to $33.5B by 2019

Albany, New York – According to a report by Transparency Market Research, the medical device connectivity market is growing due the fact that integrating data derived from healthcare devices into electronic medical records (EMRs) saves time, improves patient care, and eliminates transcription errors. The report, “Medical Device Connectivity Market (wired hardware, wireless hardware and software) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2019,” states that at an astounding CAGR of 37.8% from 2013 to 2019, the global medical device connectivity market is projected to grow from US$3.5 billion in 2012 to US$33.5 billion by 2019.

The key components of medical device connectivity are software, Bluetooth hardware, wired hardware, WMTS hardware, wireless hardware, and Wi-Fi hardware. Wired hardware was the largest segment in 2012, accounting for a 40% share of the medical device connectivity market.

The major end users of medical device connectivity are home health care, hospitals, and others. Hospitals were the largest end users of the medical device connectivity, with home health care identified as a segment having immense growth potential.

Geographically, the global medical device connectivity market comprises four key regional segments: North America, Europe, Asia Pacific, and Rest of the World. North America is the largest market for medical device connectivity, accounting for a 62% share of the overall market in 2012. The increasing penetration of EMRs in countries such as the U.K. and Germany is estimated to drive the medical device connectivity market in Europe.

Some of the leading players in the global medical device connectivity market are GE Healthcare, ISirona Inc., Capsule Tech Inc., Cerner Corp., and Phillips Healthcare. Capsule Tech dominated the medical device connectivity market in 2012, holding a 41.5% share of the global market.

Source: Transparency Market Research