Home Healthcare Segment to Drive the Demand of the Medical Device Connectivity Market in the Forecast Period

Medical Device Connectivity Market: Snapshot

Acquiring medical device data for automated documentation in an Electronic Medical Record (EMR) is referred to as connectivity of medical devices. Medical device connectivity (MDC) is related to establishment and maintenance of a connection between medical devices and information system for efficient data transfer. It eliminates the need for manual data entry and includes more frequent and faster data updates, improves workflow efficiency and minimizes human data entry errors.

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The MDC market is driven by various factors such as increased need for workflow automation, increased patient safety and minimizing the need for re-admissions among others. The global MDC market was valued at USD 3,500 million in 2012 and is expected to grow at a CAGR of 37.8% during the forecast period from 2013 to 2019. However, connectivity and operational issues, cost barriers for smaller healthcare units and security concerns are some of the factors inhibiting the growth of this market.

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In terms of end use application, hospital is the largest segment and accounted for 80% share in 2012. Hospital connectivity facilitates clinicians, access to correct, complete patient data anytime that enhances the patient safety with fast and accurate diagnosis. Asia Pacific and RoW are still untapped and expected to grow relatively faster during the forecast period in terms of MDC in hospitals.

In terms of component, wired hardware is the largest segment and accounted for 44.7% share in 2012. However, wireless technology is expected to witness widespread adoption in MDC owing to the benefits it offers such as portability of medical devices and cost optimization. Among all wireless technologies, Wi-Fi is the largest segment and accounted for 70.1% share in 2012. The features of new versions with low energy technology, minimal cost and size will drive the demand for bluetooth in MDC market.

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