Medical Device Connectivity Market

Qualcomm, Inc. (US), GE Healthcare (US), Cerner Corporation (US), Philips (Netherlands), NantHealth, Inc. (US), Dominated the Global Medical Device Connectivity Market

The global medical device connectivity market is projected to reach USD 2,670.3 Million by 2023 from USD 939.4 Million in 2018, at a CAGR of 23.2%. This is an emerging market and is highly competitive. It consists of several large to medium-sized companies that are competing with each other to increase their share in different segments of the market.

Qualcomm Life, a subsidiary of the Qualcomm Inc. (US), is a leading player in medical device connectivity market. It provides medical device connectivity and data integration services to hospitals, clinics, home healthcare, and private diagnostic centers. The company continuously strives to improve and enhance its existing portfolio by introducing new products, entering into collaborations & agreements, and acquiring other players. To maintain its strong foothold in the medical device connectivity market, the company focuses on inorganic growth strategies such collaborations, agreements, and acquisitions, for example, Qualcomm Life entered into a strategic licensing agreement with PeriGen (US) in 2018 to distribute PeriGen’s suite of intelligent care applications, an early warning platform for obstetrics, integrated with Qualcomm’s medical device connectivity solutions. In September 2015, Qualcomm Life Inc. acquired Capsule Technologie (US), a leading provider of digital connectivity devices and networking solutions for clinical data integration and management. Such developments help the company deliver comprehensive solutions and enhance its product portfolio in the medical device connectivity market.

Cerner Corporation held the second largest share of the global medical device connectivity market in 2017. The leading position of the company can be attributed to its strong distribution network, which enabled the installation of its medical device connectivity products in healthcare facilities across the globe. It operates in all the key markets such as the Americas, Europe, the Middle East, and Asia Pacific. The company has adopted many organic and inorganic growth strategies like agreements, acquisition, partnerships, and product launches to strengthen its leadership position. For instance, in February 2015, the company acquired the health information technology business unit of Siemens AG (Germany), Siemens Health Services. This enhanced the company’s non-US market share, R&D investment scale, and secured its position in the global medical device connectivity market. As of January 2017, Cerner has invested USD 706.0 million in R&D activities, mainly to provide technologically advanced solutions and services in the market, such as the CareAware Connect (launched in October 2013).

GE Healthcare accounted for the third largest share of the medical device connectivity market in 2017. The company provides data management platforms and networks used for connecting and integrating medical devices. It mainly focuses on launching advanced platforms to cater to market requirements and enhance its existing offerings & market share. The company focuses on many inorganic strategies for growth, such as agreements, partnerships, collaboration, and product launches. For instance, in 2017, GE Healthcare (US) partnered with the Bernoulli Enterprise (US), for increasing the volume, fidelity, and resolution of data captured from GE Healthcare monitors and other third-party medical devices. This helped the company offer better solutions for cloud-based integration and seamless medical devices data flow. Similarly, in 2015, GE Healthcare (US) entered into an agreement with Ministry of Health (Egypt) to establish a Biomed Center of Excellence in Egypt to support the education and training of biomedical engineers in the country.

Some of the other major players operating in the medical device connectivity market include Philips (Netherlands), NantHealth (US), Cisco Systems (US), Lantronix (US), Medtronic (Ireland), True Process (US), Bernoulli Enterprise (US), Infosys Limited (India), and iHealth Labs (US). Most leading players are based across developed regions such as North America and Europe.

Related Reports:

Medical Device Connectivity Market by Product (Integration Solutions, Interface Devices, Telemetry, Connectivity Hub, Services) Technology (Wired, Wireless, Hybrid) End User (Hospitals, Home, Ambulatory Care, Diagnostic Centres) - Global Forecast to 2023

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