Connected Medical Devices Market | Leading Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2021-2025

The Global connected medical devices market is expected to grow by $ 81.26 bn, accelerating at a CAGR of over 29% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Connected Medical Devices Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • Market is segmented Product (Capital-intensive, Physiological monitors, and Wearable medical) and Geography (North America, Europe, Asia, and ROW).
  • 42% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Connected Medical Devices Market size.

Connected Medical Devices Market Size to Grow by $ 81.26 bn through 2021-2025 | Leading Segments and Market Trends

Connected Medical Devices Market: Trends, Drivers, Challenges to impact growth

Our report helps market players to discover the various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will provide clients with all the information they would require for designing a growth strategy for their business.

  • A key market driver for the Connected Medical Devices Market will be rising prevalence of chronic diseases.
  • Increasing demand for connected wearable medical devices and remote patient monitoring systems will be instrumental in driving the market growth during the forecast period.
  • One of the key challenges that market players need to contend with in order to achieve further success is the High cost of connected medical devices.

Connected Medical Devices Market: Vendor Analysis

  • The market is fragmented.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • Abbott Laboratories, Alphabet Inc., Boston Scientific Corp., Dexcom Inc., F. Hoffmann-La Roche Ltd., General Electric Co., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, and OMRON Corp. are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 29%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 81.26 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Rising prevalence of chronic diseases will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, Asia, and ROW are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    42% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Abbott Laboratories, Alphabet Inc., Boston Scientific Corp., Dexcom Inc., F. Hoffmann-La Roche Ltd., General Electric Co., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, and OMRON Corp.

     
  7. What are the market segments covered in this report?
    The market is segmented by Product (Capital-intensive, Physiological monitors, and Wearable medical) and Geography (North America, Europe, Asia, and ROW)

Connected Medical Devices Market Size to Grow by $ 81.26 bn through 2021-2025  

Technavio research projects the connected medical devices market to grow by $ 81.26 bn, accelerating at a CAGR of over 29% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Connected Medical Devices Market: Key Market Driver

One of the primary factors that will trigger the growth of the connected medical devices market size is Rising prevalence of chronic diseases. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Connected Medical Devices Market Size to Grow by $ 81.26 bn through 2021-2025 | Leading Segments and Market Trends

Connected Medical Devices Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Alphabet Inc., Boston Scientific Corp., Dexcom Inc., F. Hoffmann-La Roche Ltd., General Electric Co., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, and OMRON Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

Technavio has been monitoring the Global Connected Medical Devices Market and it is expected to grow by USD 81.26 billion progressing at a CAGR of over 29% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Connected Medical Devices Market Size to Grow by $ 81.26 bn through 2021-2025 | Leading Segments and Market Trends

North America: High spending on healthcare infrastructure to drive growth

North America accounted for 2% of the growth share with the US and Canada being the key markets for connected medical devices in North America. However, market growth in this region will be slower than the growth of the market in other regions. The high spending on healthcare infrastructure is one of the prime factors that will facilitate the connected medical devices market growth in North America over the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the connected medical devices market market size.

The rising demand for advanced capital medical equipment, including connected capital-intensive devices, the growing focus of healthcare providers to improve facility infrastructure for providing better patient care, and growth in the number of well-equipped healthcare facilities in developed as well as developing countries to cater to the demand for treatment during emergency medical situations in the coming years are the major factors expected to influence the demand for connected capital-intensive devices globally. However, the connected medical devices market share growth by the connected capital-intensive devices segment will be slower than the connected physiological monitors and connected wearable medical devices segments. The demand for these segments is expected to gather traction over the forecast period.   

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. 

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Connected Medical Devices Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive Connected Medical Devices Market growth during the next five years
  • Precise estimation of the Connected Medical Devices Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the connected medical devices industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Connected Medical Devices Market vendors
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