The medical device connectivity market (Interfaces, Telemetry, Wireless, Home Healthcare) is set to reach $4,322 million by 20251. That is a 213% increase from 2020 and is mainly driven by the widespread increase in coronavirus disease2.
The rising need for advanced telehealth and eHealth solutions to monitor the huge volume of patients with COVID-19 infection, and the rising demand for quality healthcare at low costs are driving the growth of this market.
However, there is a high cost of deployment and maintenance for small healthcare organizations and a reluctance of medical professionals to adopt advanced healthcare IT solutions3.
Other priority challenges include; integration between different hospital information systems, lack of skilled healthcare IT professionals, and medical devices’ data security concerns4.
That aside, major players in this market to watch are: