The report titled publication “North America Connected Medical Devices Market Outlook and Forecast to 2027 – Driven by Rising Consumer Awareness, Prevalence of Chronic Diseases, and Cost-containment of Connected Medical Devices” provides a comprehensive analysis of the North America Connected Medical Devices Market. The report provides industry size basis revenue and value chain analysis, market segmentations based on Component, Application, Products/Solution, End user industries, competition benchmarking, COVID impact, future projections and trends, drivers & challenges. It also provides the market by Revenue of the major countries in the North America region and also provides the country level analysis based on the segments. It also provides inputs on major opportunities and potential strategies to gain from the market.
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North America Connected Medical Devices Market Outlook, Drivers and Challenges
The Connected Medical Devices Market in North America is expected to witness moderate growth over the next five years, primarily driven by the need for remote monitoring of patients going through recovery in the home care settings, adoption of technology by not only larger institutional care providers, such as hospitals and nursing homes, but specialty clinics, pathological labs and ambulatory surgical centers, and the increase of connectivity penetration in making medical devices more efficient, fast and data-driven.
The increasing prevalence of chronic conditions and treatments for patients suffering from these diseases is putting enormous pressure on the health systems of various countries. Resultantly, players active in the market are actively investing in research & development of advanced and easy to use medical devices to treat chronic disorders, citing efforts by health care agencies to move more and more patients to home care settings. The increasing demand for quality healthcare services for the aging population is also driving the need for connected, remote monitoring solutions and trackable devices.
The spread of technology in healthcare, such as the use of AI-based solutions, robotic systems, block chain technology, is helping mitigate the risk of human of error in healthcare procedures and making identification of serious conditions more accurate and timely. It is why smaller centres of healthcare delivery, such as ambulatory surgical centres are becoming more and more inclined towards connected medical devices.
High deployment cost, data security and integrity issues and ensuring regulatory compliance emerge to be the major challenges in this market. The cost of interoperability and connectivity solutions for various medical devices is quite high. The increasing use of automated technologies such as EHR, health care integration and health information exchange have also resulted in concerns over the security of proprietary data and applications. Stringent regulations, traceability and safety are also major concerns for a medical device manufacturer.
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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
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
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
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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.