Acquiring medical device data for automated documentation in an Electronic Medical Record (EMR) is referred to as connectivity of medical devices. Medical device connectivity (MDC) is related to establishment and maintenance of a connection between medical devices and information system for efficient data transfer. It eliminates the need for manual data entry and includes more frequent and faster data updates, improves workflow efficiency and minimizes human data entry errors.
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The MDC market is driven by various factors such as increased need for workflow automation, increased patient safety and minimizing the need for re-admissions among others. The global MDC market was valued at USD 3,500 million in 2012 and is expected to grow at a CAGR of 37.8% during the forecast period from 2013 to 2019. However, connectivity and operational issues, cost barriers for smaller healthcare units and security concerns are some of the factors inhibiting the growth of this market.
In terms of end use application, hospital is the largest segment and accounted for 80% share in 2012. Hospital connectivity facilitates clinicians, access to correct, complete patient data anytime that enhances the patient safety with fast and accurate diagnosis. Asia Pacific and RoW are still untapped and expected to grow relatively faster during the forecast period in terms of MDC in hospitals.
In terms of component, wired hardware is the largest segment and accounted for 44.7% share in 2012. However, wireless technology is expected to witness widespread adoption in MDC owing to the benefits it offers such as portability of medical devices and cost optimization. Among all wireless technologies, Wi-Fi is the largest segment and accounted for 70.1% share in 2012. The features of new versions with low energy technology, minimal cost and size will drive the demand for bluetooth in MDC market.
Of the key end-use segments of the market studied in the report, the segment of hospitals acquired 80% share in the market. The home healthcare segment expanded by 9% over 2011-2012 and is expected to further expand in the future years. The availability of reliable and high speed internet connectivity across distant corners of the globe is leading to increased popularity of home healthcare centers across the globe. This will allow further development of the MDC market in the future years.
The report also presents a detailed analysis of the competitive landscape of the global MDC market wherein business profiles of some of the key businesses operating in the market are discussed. Some of the key businesses operating in the market are Philips Healthcare, Capsule Tech Inc., Cerner Corporation, Cisco Systems Inc., eDevice Inc., Digi International Inc., Honeywell HomeMed LLC, Siemens Healthcare, Lantronix Inc., and Qualcomm Inc.
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