Global IoT Medical Devices market
The changing regulatory standards in Europe and North America have been catalyzing the growth of the IoT medical devices market. Significant developments for the manufacturers would be introduced concerning how field devices are monitored and reported on. In 2017, European guidance (known as MDR) was issued on how these rules would be updated to encompass thorough post-market surveillance and on-going digital analysis, with a hard stop implementation date of 2024. With millions of medical devices out in the field, medical device manufacturers relied on WiFi as the obvious remedy for collecting the data.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global IoT Medical Devices market includeMedtronic, GE Healthcare, Siemens, Biotelemetry, Philips Healthcare, Johnson and Johnson, Omron, Agamatrix, Stanley Healthcare and I Health Lab, etc.
Hospitals contributed the major market share owing to the modernization of infrastructure, rising participation of private players to exploit the luxury patient care market. Specialty care Centers are emerging as the hotspot for IoT medical devices market. The growing specialized treatment centers for chronic diseases such as cancer, cardiac, respiratory disorders are set to propel the market growth above 24% during 2020-25. The IoT medical devices market is witnessing an optimistic growth owing to the influx of perilous COVID-19 which is proliferating the usage of medical devices such as ventilators, infusion pumps, etc. Thus, the demand for IoT medical devices is expected to ramp up in 2020 as the patients suffering from the coronavirus have breathing problems.
In 2019, stationary medical devices dominated the global market as the usage of X-ray and mammography devices, CT and MRI scanners, ultrasound machines and nuclear imaging devices that measure physiological parameters accentuated owing to the soaring aging population as revealed by the MarkNtel Advisors’ research report“Global IoT Medical Devices Market Analysis, 2020”.
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