A new market study from Research and Markets looks at the current state of medical device connectivity worldwide and projects how it will evolve through the rest of this decade. Entitled “Medical Device Connectivity Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast to 2019,” the study looks at the factors now driving adoption of the technology. These include increased need for workflow automation, increased patient safety, and minimizing the need for readmissions.
These factors are expected to drive market growth for the technologies at a torrid pace of nearly 38% a year. However, the report also points out hurdles that could inhibit this growth, including connectivity and operational issues, cost barriers for smaller healthcare units, and security concerns.
The study notes that, not surprisingly, the hospital sector is the largest purchasing segment in this market, accounting for 80% share in 2012. In terms of components, the study says that wired hardware is the largest segment, at almost 45% share of the market in 2012. However, the study projects that wireless technology will see widespread adoption in medical device connectivity applications, owing to the benefits it offers, such as portability of devices and cost optimization. Among all wireless technologies, Wi-Fi is the largest segment, accounting for 70% share in 2012. However, the features in new versions of devices, such as with low-energy technology and minimal cost and size, will drive demand for bluetooth.
The study is published by Transparency Market Research.