Connected Medical Device Market, By Application (Consumer (Patient) Monitoring, Wearable Device, Internally Embedded Device, and Stationary Device) and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) - Size, S

Connected Medical Device Market, By Application (Consumer (Patient) Monitoring, Wearable Device, Internally Embedded Device, and Stationary Device) and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Connected health refers to the model of healthcare management or delivery that uses several technologies to provide healthcare services remotely. Connected medical devices can transmit or receive data from/to another device or the Internet. These devices are capable of connecting to the internet through Bluetooth, WiFi, or radio transmission. Connected medical devices play a major role when a patient's health is to be monitored remotely. Whereas, wireless connected devices benefit three key stakeholders in the healthcare industry; such as Clinicians, Patients, and Medical Device Manufacturers.

Market Dynamics:

Increasing adoption of connected medical devices and wearable devices, outbreak of COVID-19, increasing awareness among people remote monitoring, and introduction of technologically advanced products by market players are some major factors expected to aid in the growth of the connected medical device market over the forecast period. The demand for connected medical devices around the world is increasing because of the rising need for self-assessment, telehealth, teleconsultation, and telemedicine, amongst others.

In August 2021, Royal Philips announced Philips HealthSuite solutions, the Philips Acute Care Telehealth, and the Philips Patient Flow Capacity Suite. These two new solutions are designed mainly to reduce barriers across patient care and into a cost-effective and scalable model. These solutions are cloud-based, secure, and allow health systems to integrate required informative applications, which can scale up or down according to the required need.

In May 2021, GE Healthcare announced the launch of new virtual precision healthcare solution called Xeleris V. Equipped with AI (Artificial Intelligence) applications, the solution simplifies and enhances workflow by providing advanced data whenever and wherever for personalized care and treatment decisions.

Key features of the study:

• This report provides in-depth analysis of the global connected medical device market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global connected medical device market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include GE Healthcare, Biotronik Se & Co. Kg, Garmin Ltd., Abbott Laboratories, Koninklijke Philips NV, Medtronic PLC, Honeywell International Inc., Boston Scientific Corporation, NXP Semiconductors NV, and Stanley Black & Decker Inc. (Stanley Healthcare), among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global connected medical device market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global connected medical device market.

• Global Connected Medical Device Market, By Application:
• Consumer (Patient) Monitoring
• Wearable Device
• Internally Embedded Device
• Stationary Device
• Global Connected Medical Device Market, By Geography:
• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• South America
• Company Profiles:
• GE Healthcare
• Biotronik Se & Co. Kg
• Garmin Ltd.
• Abbott Laboratories
• Koninklijke Philips NV
• Medtronic PLC
• Honeywell International Inc.
• Boston Scientific Corporation
• NXP Semiconductors NV
• Stanley Black & Decker Inc. (Stanley Healthcare)