North America Connected Medical Devices Market By End-User Industry
Hospitals as end users of the connected
medical devices market is growing at a CAGR of ~% in 2017-2021 and
is expected to reach ~USD Bn by 2027F. The growth is majorly driven by the
advent of new technologies and the availability of sophisticated devices for
better guided clinical care.
Since the outbreak of the Covid pandemic, there has been significant
pressure on larger healthcare facilities like hospitals and nursing homes. One
can see a shift towards specialty clinics for faster availability of care. Responding
to the growing volume of care seekers, such smaller facilities like specialty
clinics and ambulatory surgical centres, are also investing in connected
medical devices.
Since these devices transmits information at a faster rate, it helps
reduce the turnaround time for care delivery. These devices also help track the
care delivery process better, making timely interventions possible. Automated
and electronic health recording systems also reduce manual work and mitigates
the risk of human error.
Competition Scenario In North America Connected Medical Devices Market
The Competition is Highly Competitive. Several multi-billion dollar
brands compete in to gain a share of this growing market. Each of these
companies comes with a diverse range of products. Competitors in these field
also invest heavily in research and development and innovations, resulting in
frequent launch of new products and expansion of existing product lines. Partnerships and collaborations happen
frequently in this market, resulting in market consolidation across product and
geographies.
What is the Expected Future Outlook for the Overall Connected Medical
Devices in North America?
The revenues generated by connected medical devices market players in North
America are projected to augment to ~ by 2027 from ~ during 2022, registering a
robust CAGR of ~ during the same period. The rising consumer awareness towards
a healthy lifestyle, prevalence of chronic diseases and cost-containment
benefits are the major factors driving this growth.
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Connected medical devices help monitor patients recovering at home
remotely. Wearable health trackers, connected to a handheld user interface, are
useful in keeping track on user’s everyday health. Glucose monitors, blood
pressure monitors, infusion pumps not only offers a real-time picture of the
patient’s health but also sends alert in real time if any deviance from the
standard requirements is noted.
Apart from its use in remote monitoring and tracking vital health
parameters, these devices help in large-scale care facilities as well, such as
hospitals and nursing homes. Innovation and adoption of latest technology
paradigms, such as AI and Robotics make the existing service infrastructure
more efficient, both in terms of time and cost containment.
Smaller care facilities, such as specialty clinics, ambulatory surgical
centres, and path labs are also shifting towards adopting connected medical
devices as these equipment help them to make data-guided clinical decisions
faster. With the increasing penetration of connectivity across North America
spending in connectivity technology infrastructure, required for these devices
will increase. There will also be increasing need for services.
Key
Segments Covered in North America Connected Medical Devices Market:-
North
America Connected Medical Devices Market By Components
Medical devices
System and Software
Connectivity Technology
Services
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North
America Connected Medical Devices Market By Application
Consultation and
Diagnosis Services
Treatment Services
Remote Monitoring
Fitness
Wellness Services
North
America Connected Medical Devices Market By Product/ Solution
Diagnostic Imaging
Consumables
Patient Aids
Orthopedic and
Prosthetic
Dental Products
Other Medical Equipment
North
America Connected Medical Devices Market By Type of End User Industry
Hospitals
Nursing Homes
Pathological Labs
Specialty Clinics
Ambulatory Surgical
Centers
Home Care Settings and
Monitoring
North America Connected Medical Devices Market By
Geography and Major Countries
U.S.
Canada
Mexico
Key Target
Audience:-
Connected
Medical Devices Manufacturers
Connected
Medical Device Product Assemblers
Connected
Medical Device Developers
Connected
Medical Device Raw Materials Suppliers
Connected
Medical Device Components Suppliers
Value-Added
Resellers (VARs)
Potential
Investors in Connected Medical Device Companies
Distributors
and Retailers of Connected Medical Devices
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Time Period
Captured in the Report:-
Historical Period:
2017-2021
Forecast Period: 2022-2027F
Companies Mentioned:-
Key Competitors in
North America Connected Medical Devices Market
Abbott Laboratories
Boston Scientific Corporation
Medtronic.
Philips Corporation
Stryker
NXP Semiconductors
Honeywell
Baxter
GE Healthcare
Beckton, Dickinson and Company (BD)
Masimo Corporation
Drager
Emerging Connected
Medical Devices Companies in North America
Bright Uro
Zeta Surgical
Biomotum, INC
Puzzle Medical Devices
Arma Biosciences
Repare Therapeutics
ECGlove
MediQo
Key Topics
Covered in the Report:-
Snapshot of North America Connected Medical
Devices Industry
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of North America
Connected Medical Devices Market
Historic Growth of Overall North America
Connected Medical Devices Market and Segments
Competition Scenario of the Market and Key
Developments of Competitors
Porter’s 5 Forces Analysis of North America
Connected Medical Devices Industry
Overview, Product Offerings and SWOT Analysis of
All the Key Competitors
Covid 19 Impact on the Overall North America
Connected Medical Devices Market
Future Market Forecast and Growth Rates of the
Total North America Connected Medical Devices Market and by Segments
Market Size of End User Industries with
Historical CAGR and Future Forecasts
Analysis of North America Connected Medical
Devices Market in Major North American Countries
Major Production / Consumption Hubs in the Major
Countries
Major Production/Supply and Consumption/Demand
Hubs in Each Major Country
Major Country-wise Historic and Future Market Growth
Rates of the Total Market and Segments
Overview of Notable Emerging North America
Connected Medical Devices Companies within Each Major Country
For more
information on the research report, refer to below link:-
North America Connected Medical Devices Market
Related Reports:-
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Ankur Gupta, Head Marketing & Communications
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Frequently
Asked Questions:-
What is the Study Period of this Market Report?
The North America Connected Medical Devices
Market is covered from 2017 – 2027 in this report, which includes a forecast
for the period 2022-2027.
What is the Future Growth Rate of North America Connected Medical
Devices Market?
The North America Connected Medical Devices
Market is expected to witness a CAGR of about 8% over the next 5 years.
What are the Key Factors Driving the North America Connected Medical
Devices Market?
Shift Towards Homecare Settings and Rising
Prevalence of Chronic Diseases are expected to be the primary drivers of this
market.
Which is the Fastest Growing Application Segment within the North
America Connected Medical Devices Market?
Remote Monitoring is the fastest growing
application segment within the North America Connected Medical Devices Market.
Who are the Key Players in North America Connected Medical Devices
Market?
Abbott Laboratories, Boston Scientific
Corporation, Medtronic, Philips Corporation, Stryker, NXP Semiconductors,
Honeywell, Baxter, GE Healthcare, Becton, Dickinson and Company (BD), Masimo
Corporation and Drager are the major companies operating in North America
Wearable Electronics Market.
