Connected Medical Devices are majorly used for the connected health solutions that replace the traditional healthcare practices. The connected medical devices helps in multiple ways such as the care providers can provide better efficiency and accountability to their customers/ patients, reduction in the cost of treatment and improved quality of treatments.
The Connected Medical Device Market is expected to grow at constant CAGR of at the end of the forecasted period due to technological advancements across the industry, high adoption of smartphones, tablets, and other mobile platforms, applications in the management of chronic diseases, rising point of care, and advantages such as reduced nurses’ time and reduced rate of patient readmission.
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Connected Medical Devices Market – Key Players
The prominent players in connected medical device market are A&D Medical, Aerotel, Animas Corporation, BL Healthcare, Body Media Inc., Boston Scientific, DexCom Inc., Docobo, eHIT Ltd, eDevice, FitSense Technology.
Global Connected Medical Devices Market – Competitive Landscape
Many device manufacturers in this market are collaborating with other ecosystem players such as network providers, healthcare providers, and pharmaceutical among other to provide better healthcare support and management systems.
In April 2018, Smiths Group plc. has released new infusion system with NRFIT connector which prevents the risk of mistaken connection of wrong devices and harm being caused to the patient when medication is delivered via the wrong route. In addition, the company aims to release more than 20 new products by the end of 2018.
In March 2018, DexCom Inc. announced FDA clearance for continuous glucose monitor (CGM) which integrates insulin pumps and other diabetes devices. This approval makes the path simpler for the company to market for future continuous glucose monitors.
In March 2018, Philips Healthcare entered into strategic partnership with Samsung Electronics Co. Ltd. to expand the company’s connected health ecosystem. This collaboration will enable the Samsung ARTIK ecosystem of connected medical devices to safely access and share information with Philip’s cloud platform.
In November 2017, DexCom Inc. entered into a development agreement with Eli Lilly and Company which is focused on including DexCom CGM into Eli Lilly’s Connected Diabetes Ecosystem. This collaboration aims to improve the future of diabetes management using connected medical devices.
In January 2017, Johnson & Johnson announced the collaboration with Rest Devices, a Boston-based company for developing smart, personalized sleep coaching system for babies. This system consists of Mimo, wearable baby monitor and a companion app called Nod which helps parents in monitoring their babies with the smartphone. This collaboration will help the company to enrich its connecting medical devices portfolio.
In January 2016, A&D Medical, a company engaged in connected health and biometric measurement devices and services launched a new line of personal mobile health devices as part of LifeSource UltraConnect, the WellnessConnected family with the introduction of LifeSource UltraConnect Wrist blood pressure monitors and wireless upper arm. With this launch, the company expanded its product portfolio in the connected medical devices market.
In November 2015, Medtronic announced FDA approval for a mobile application connected with MyCareLink Smart Monitor device. Further, in September 2015, the company launched MiniMed Connect System which benefitted the diabetic patients using Medtronic insulin pump and Medtronic continuous glucose monitor to access the data from both devices on their smartphone.
In February 2014, Aerotel Medical Systems Ltd. launched an advance ECG monitor. This device is integrated with the seamless transmission of patient’s records which is directly transferred to the email account of the respective doctor.
Connected Medical Devices Market – Segments
Global Connected Medical Devices Market has been segmented on the basis of products which include Software, BP Monitor, Tracker, ECG, CPAP, Holter, BiPAP, on the basis of feature which includes Communication, Networking, on the basis of Care which consists of Sleep Apnea, Blood Pressure on the basis of end users which includes Hospital, Patient, Clinic.
Connected Medical Devices Market – Regional Analysis
America accounts for the largest share in the global connected medical devices market followed by Europe. Well-developed healthcare sector, government support for the research and development, and presence of large geriatric population has driven the growth of the market in America and Europe region. The Asia Pacific is the fastest growing region for the market owing to the huge opportunities present for the development of the market with a huge population. However, The Middle East & Africa has the least share of the market due to the presence of poor infrastructure, less development, and lack of technological advancements in the healthcare sector.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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