Discover trends, market shifts, and competitive outlooks for the medical device connectivity industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Has The Medical Device Connectivity Market Growth Evolved From 2024 To 2025, And What’s Ahead?

The market size for medical device connectivity has seen an exponential surge recently. Its growth is projected to increase from $3.58 billion in 2024 to $4.54 billion in 2025, marking a compound annual growth rate (CAGR) of 27.0%. Factors such as the increase in chronic illnesses, the need for streamlined healthcare procedures, rising demand for telehealth services and remote patient monitoring, alongside a focus on data analytics and predictive insights have contributed to the growth during the historical period.

The market size of medical device connectivity is projected to witness a significant spike in the coming years, shooting up to $11.7 billion by 2029 at a compound annual growth rate (CAGR) of 26.7%. The upward trend during the forecast period can be credited to the heightened need for flawless integration, the progressive digitalization of healthcare, an aging population, escalating adoption rates of electronic health records, and progressively higher healthcare costs. Key developments expected during this forecast period include the evolution of IoT-enabled devices, electronic health record (EHR) systems, real-time patient data processing, enhanced patient engagement, remote diagnostics, and telemonitoring.

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What Are the Primary Drivers Supporting the Market Growth of the Medical Device Connectivity Market?

The rise in the adoption of electronic health records is projected to fuel the expansion of the medical device connectivity market in the future. An electronic health record (EHR) is essentially a digital replica of a patient’s paper records, providing real-time, patient-specific details that can only be accessed by authorised individuals. Medical device connectivity options aid in the effortless transfer of data between medical devices and EHR systems, enabling the real-time amalgamation of patient monitoring data, diagnostic outcomes, and treatment specifics. Linking medical devices with EHRs permits healthcare professionals to have extensive patient data at the moment of treatment, thus improving clinical judgement and care coordination. For example, The London School of Hygiene & Tropical Medicine (LSHTM), an esteemed UK-based research and postgraduate education centre in public and global health, reported in August 2024 that over 1.3 million individuals decided to opt out of NHS data between May 31 and June 30. This rise increased the total opt-out rate from 2.77% to 4.97% of the 2021 population. Consequently, the escalating adoption of electronic health records (EHR) is propelling the medical device connectivity market.

Which Primary Segments of the Medical Device Connectivity Market Are Driving Growth and Industry Transformations?

The medical device connectivity market covered in this report is segmented –

1) By Component: Hardware, Services, Software

2) By Technology: Wired Technologies, Wireless Technologies, Hybrid Technologies

3) By Application: Vital Sign Monitoring Systems, Cardiology Devices, ICU Systems, Oncology Systems, Home Healthcare Devices, Other Applications

4) By End-Use Vertical: Hospitals And Clinics, Diagnostic Centers, Healthcare Research Centers, Other End Users

Subsegments:

1) By Hardware: Medical Device Gateways, Connectivity Modules, Sensors And Actuators, Network Infrastructure (Routers, Switches)

2) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Managed Services

3) By Software: Device Connectivity Software, Cloud-Based Platforms, Data Analytics And Management Software, Security And Authentication Software

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Which Regions Are Key Players in the Growth of the Medical Device Connectivity Market?

North America was the largest region in the medical device connectivity market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device connectivity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Are the Most Significant Market Trends in the Medical Device Connectivity Market?

Prominent businesses in the medical device connectivity market are concentrating on the innovation of technological advancements like LocationAI to improve medical imaging, diagnosis, and treatment planning processes. LocationAI is a precision-driven location engine powered by machine learning that maintains room-level accuracy without disrupting clinical routines with intricate setup methods or requiring to situate hardware in patient quarters, which is typical in other systems. For example, in March 2022, Cognosos Inc., a company based in the US that offers real-time asset visibility solutions, incorporated LocationAI into its real-time location system (RTLS) for healthcare to tackle common issues in asset tracking systems. This inclusion bolsters location precision in hospitals by leveraging machine learning to identify signal patterns tied to distinct locations, thus guaranteeing exact tracking of tagged items.

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What Parameters Are Used to Define the Medical Device Connectivity Market?

Medical device connectivity refers to the ability of medical devices to securely and seamlessly communicate with healthcare devices, revolutionizing healthcare by enabling data sharing, remote monitoring, and improved patient care. This connectivity is used for the exchange of data between medical devices and electronic health record (EHR) systems, clinical decision support systems, and other healthcare IT systems by enabling remote monitoring, real-time data analysis, interoperability, and clinical decision-making, ultimately improving patient care, enhancing workflow efficiency, and supporting healthcare provider collaboration.

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