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

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.

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 Medica 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

 

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