Global Connected Medical Devices Market (2020-2025), by Device Type, Product, End-user, Applications, Geography and the Impact of Covid-19 with Ansoff Analysis

Introduction

The introduction of IoT has benefitted the healthcare industry in various ways. The connected medical devices are poised to solve the challenges faced by the healthcare industry. The Healthcare industry, in recent years, has witnessed a growth of medical devices connected with each other via wireless monitoring services. The adoption of these devices is also increasing day by day owing to their reliability, effective patient monitoring and Government initiatives etc. Moreover, the penetration of mobile and internet technology and spending on R&D activities are contributing to the growth of the market. For instance, in the year 2019 more than 45 new medical devices and technologies were approved by the US FDA. As of June 2020, more than 20 connected devices are sanctioned by the FDA.

However, the barriers such as high deployment cost, data security challenges, and an insufficient IoT infrastructure across the healthcare industry may hamper the market growth.

Market Dynamics

Drivers

• Government initiatives for promoting digital health
• Increasing focus on patient-centric delivery and patient safety
• Penetration of Mobile Technologies and Internet Services

Restraints

• High deployment cost of smart medical devices and related infrastructure
• Issues in data security
• Insufficient IoT infrastructure across Healthcare industry

Opportunities

• Low Doctor-to-patient ratio leading to self-operated e-Health platforms
• Telehealth and telemedicine services

Segments Covered

The Global Connected Medical Devices Market is segmented on the basis of Device Type, Product, End-user and Applications

Global Connected Medical Devices Market, By Device Type

• Introduction
• Stationary Medical Device
• Implantable Medical Device
• Wearable Medical Device
• Non-wearable Medical Device

Global Connected Medical Devices Market, By Product

• Introduction
• BP Monitor
• Pulse Oximeter
• Heart Rate Monitor
• ECG Monitoring Device
• Glucose Monitor
• Insulin Pump
• Portable GPS PERS
• Smart Pill Dispenser
• Others

Global Connected Medical Devices Market, By End-User

• Introduction
• Hospital
• Ambulatory Surgical Centre
• Specialty Clinic
• Home Care Settings

Global Connected Medical Devices Market, By Application

• Introduction
• Remote Monitoring
• Diagnostics Services
• Treatment Services
• Fitness Device

Company Profiles

The companies covered in this report are:

• GE Healthcare, Inc.
• Medtronic Plc
• OMRON Corporation
• Philips Healthcare
• McKesson Corporation
• Fitbit, Inc.
• Johnson & Johnson
• Boston Scientific Corporation
• St. Jude Medical, Inc. (Abbott)
• AgaMatrix, Inc.
• Dexcom
• F. Hoffmann-La Roche
• Polar Electro
• IHealth Labs
• Aerotel Medical Systems Ltd

IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.

Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.
Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.
Rabbits: Small companies but growing rapidly, constantly improving their offerings in the market.
Tortoise: Companies which are slow in growth, having a long legacy and stable or negative in performance.

Why buy this report?
The report offers a comprehensive evaluation of the global Connected Medical Devices market. The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter’s 5 force model and Ansoff Matrix. Impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using IGR Competitive Quadrant, a Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market