(PharmaNewsWire.Com, June 15, 2021 ) The global medical device connectivity market is projected to reach USD 4.3 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 25.7% during the forecast period. Players operating in this market are focusing on increasing their presence through both organic as well as inorganic growth strategies, such as product launches, agreements, partnerships, collaborations, acquisitions, and expansions. This is particularly evident in high-growth emerging markets.
North America dominates the medical device connectivity market.
In 2019, North America accounted for the largest share of the global medical device connectivity market, followed by Europe. The large share of North America can be attributed to the highly developed healthcare system in the US and Canada, the presence of a large number of leading medical device connectivity solution vendors, and the growing adoption of EHR and health information exchange systems in healthcare organizations in this region.
Prominent players in this market are GE Healthcare (US), Capsule Technologies, Inc. (US), Cerner Corporation (US), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), Cisco Systems, Inc. (US), Infosys Limited (India), Digi International Inc. (US), Masimo Corporation (US), Hill-Rom Holdings Inc. (US), True Process (US), iHealth Labs (US), and Lantronix Inc. (US).
Capsule Technologies Inc. (US) is the leading player in the medical device connectivity market. The company is a leading provider of digital connectivity devices and networking solutions for medical device integration and clinical data management. With its robust portfolio of intelligent care platforms, the company offers medical device integration platforms, interface devices, and connectivity hubs for the medical device connectivity market. Capsule Technologies’ leading position in the market can be attributed to its strong distribution network across the globe, which enables it to serve customers in North America, Europe, Asia Pacific, the Middle East, and Latin America. To garner a large share of the medical device connectivity market, the company continuously focuses on organic and inorganic growth strategies. For instance, in November 2019, the company launched Capsule Neuron 3, a next-generation clinical computing hub that can easily connect up to nine physically connected medical devices.
Cerner Corporation (US) accounted for the second-largest share of the global medical device connectivity market in 2019. The company’s leading position in this market can be attributed to its robust product portfolio and a strong network of partners across the globe. Under its flagship brand CareAware, the company offers medical device integration solutions and various other device connectivity solutions across the globe. To maintain its position in the market, the company focuses on expanding its product portfolio through collaborations.
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