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Medical Device Connectivity Market is expected to reach USD 33.5 Billion Globally in 2019: Transparency Market Research
Date:11/26/2013

ALBANY, New York, November 26, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Medical Device Connectivity Market (Wired hardware, Wireless hardware and Software) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," the global medical device connectivity (MDC) market was worth USD 3.5 billion in 2012 and is expected to reach USD 33.5 billion by 2019, growing at a CAGR of 37.8% from 2013 to 2019. North America was the largest market for MDC in 2012 due to increasing adoption of Electronic Medical Records (EMRs) across the region.

Browse the full report with complete TOC at http://www.transparencymarketresearch.com/medical-device-connectivity-market.html

The MDC market is driven by various factors including increased need for workflow automation, increased patient safety, saved nursing hours, increased productivity of healthcare institutions, and minimizing the need for re-admissions. Integration of data from important healthcare devices into EMR helps to not only save time but also eliminates transcription errors and improves the overall patient safety and care. Enforcement of government regulations regarding the necessity of EMR is expected to drive the market. However, connectivity and operational issues, cost barriers for small and mid-sized healthcare units and security concerns are some of the factors inhibiting the growth of this market.

Among all the components, wired hardware segment was the largest and accounted for 40% of the market share in 2012. Wireless connectivity technology is expected to witness widespread adoption in MDC owing to its compatibility, interoperability and cost effectiveness over wired technology. Different wireless technologies such as Wi-Fi, WMTS, an
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SOURCE Transparency Market Research
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