Emerging Technologies in Medical Device Connectivity Will Skyrocket the Healthcare Market

Frost and Sullivan

 

July 9, 2018

The wide adoption of electronic medical/health record (EMR/EHR) solutions in hospitals is making a strong case for interoperability among medical devices, and could well take the $232.5 million global medical device connectivity (MDC) market past the billion-dollar mark by 2022. To make optimal use of EMR/EHR and lower their dependence on manual monitoring, hospitals are developing connectivity strategies based on early warning scores, automated electronic charting, emergency alert and response, virtual intensive care units (ICUs), medical device asset management, and real-time location solutions.

“The current generation of medical devices are local area network (LAN)-aware and has the ability to integrate with any hospital IT systems,” said Dinesh Kumar, Transformational Health Industry Analyst. “Medical devices can connect to hospital networks using Internet protocol (IP) technologies of transmission control protocol (TCP)/IP and wide area network (WAN) either directly or through a vendor-supplied gateway.”

Frost & Sullivan’s recent analysis, Global Hospital-based Medical Device Connectivity Market, Forecast to 2022, examines the competitive landscape covering clinical IT systems vendors, medical device OEMs, vendor-agnostic third-party vendors, and healthcare system integrators. It presents use cases for patient data integration with EHRs, real-time patient monitoring, virtual ICU, centralised patient monitoring, and clinical alarms.

For further information on this analysis, please visit: http://frost.ly/2kq

North America emerged the biggest adopter of MDC solutions in 2017, with $171.8 million of the total revenue. The United States market generated $153.9 million of those, driven by technology innovation and policies like Meaningful Use (MU), Accountable Care Organisations (ACO), and the hospital readmission reduction programme. The European and Asia-Pacific (APAC) markets too were supported by favourable initiatives like healthcare digitisation and the medical error reduction programme at the point-of-care.

Future growth opportunities in this market include:

– Vendor-agnostic third-party device connectivity solutions such as the CareAware iBus platform from Cerner Corporation and the Accelero Connect from Iatric Systems;
– Huge demand for end-to-end medical device connectivity solutions such as the Qualcomm Life’s SmartLinx, which will enable a multi-disciplinary approach towards achieving a connected healthcare ecosystem;
– The growing shortfall of intensive care workforce is challenging hospitals’ ability to care for critically ill patients. Virtual ICU and patient surveillance solutions from Bernoulli Health offers centralized patient monitoring thereby improving overall clinical outcomes in the high-acuity care settings; and
– Healthcare system integrators and interoperability enablers such as Enovacom, Validic and Forcare known for developing and implementing business-specific application interfaces for delivering patient data from disparate sources are gaining significance.

“Next generation connected medical devices will embrace machine-to-machine (M2M) and cloud-based technologies for real time, bi-directional communication required for centralised patient monitoring. For hospitals without EMR solutions, cloud-based device connectivity and digital dashboards for device data visualisation will be an alternative. Furthermore, the growing demand for hospital-based MDC is giving rise to competitive business models and solution offerings from direct and indirect market players,” noted Kumar.

For more information HERE

 

 

 

Related Articles


Changing Scene

  • Wesco Opens State-of-the-Art Facility in Eastern Canada to Support Influx of Megaprojects in the Region

    Wesco Opens State-of-the-Art Facility in Eastern Canada to Support Influx of Megaprojects in the Region

    Wesco International has recently announced the grand opening of a new state-of-the-art facility on Higney Avenue in Dartmouth, Nova Scotia, Canada, making this the largest facility of any distributor in the Atlantic region. The new building, facilitated by Touchette Real Estate, a division of Groupe Touchette, will feature Wesco’s comprehensive suite of services and solutions including… Read More…

  • PataBid Nominated for Canadian Choice Award in Software Services

    PataBid Nominated for Canadian Choice Award in Software Services

    PataBid is proud to announce its nomination for a Canadian Choice Award in the Software Services category. This recognition highlights PataBid’s commitment to supporting the electrical contracting community across Canada by providing innovative estimating software solutions that streamline estimating processes and ensure predictable and profitable projects. Read More…


Sponsored Content
The Easy Way to the Industrial IoT

The way to the Industrial IoT does not have to be complicated. Whether access to valuable data is required or new, data-driven services are to be generated, Weidmuller enables its customers to go from data to value the easy way. Weidmuller’s comprehensive and cutting-edge IIoT portfolio applies to greenfield and brownfield applications. Weidmuller offers components and solutions from data acquisition, data pre-processing, data communication and data analysis.

Visit Weidmuller’s Industrial IoT Portfolio.


ADVANCED Motion Controls Takes Servo Drives to New Heights (and Depths) with FlexPro Extended Environment Product Line

Advanced Motion Controls is proud to announce the addition of six new CANopen servo drives with Extended Environment capabilities to their FlexPro line. These new drives join AMC’s existing EtherCAT Extended Environment FlexPro drives, making the FlexPro line the go-to solution for motion control applications in harsh environments.

Many motion control applications take place in conditions that are less than ideal, such as extreme temperatures, high and low pressures, shocks and vibrations, and contamination. Electronics, including servo drives, can malfunction or sustain permanent damage in these conditions.

Read More


Service Wire Co. Announces New Titles for Key Executives

Bruce Kesler and Mark Gatewood have been given new titles and responsibilities for Service Wire Co.

Bruce Kesler has assumed the role of Senior Director – Business Development. Bruce will be responsible for Service Wire’s largest strategic accounts and our growing Strategic Accounts Team.

Mark Gatewood has been promoted to the role of Vice President – Sales & Marketing. In this role, Gatewood will lead the efforts of Service Wire Company’s entire sales and marketing organization in all market verticals.

Read More


Tri-Mach Announces the Purchase of an Additional 45,000 sq ft. Facility

Tri-Mach Elmira Facility

Recently, Tri-Mach Inc. was thrilled to announce the addition of a new 45,000 sq ft. facility. Located at 285 Union St., Elmira, ON, this facility expands Tri-Mach’s capabilities, allowing them to better serve the growing needs of their customers.

Positioning for growth, this additional facility will allow Tri-Mach to continue taking on large-scale projects, enhance product performance testing, and provide equipment storage for their customers. The building will also be the new home to their Skilled Trades Centre of Excellence.

Read More


JMP Parent Company, CONVERGIX Acquires AGR Automation, Expanding Global Reach

Convergix Automation Solutions has completed the acquisition of AGR Automation (“AGR”), a UK-based provider of custom, high-performance automation design and systems integration primarily to the life sciences industry.

Following Convergix’s acquisitions of JMP Solutions in August 2021 and Classic Design in February 2022, AGR marks the third investment in Crestview’s strategy to build Convergix into a diversified automation solutions provider targeting the global $500+ billion market, with a particular focus on the $70 billion global systems integration and connectivity segments. Financial terms of the transaction were not disclosed.

Read More


Latest Articles

  • How Advanced X-Ray and AI Inspection Technologies Optimize Quality Control and Reduce Costs in SMT Manufacturing

    How Advanced X-Ray and AI Inspection Technologies Optimize Quality Control and Reduce Costs in SMT Manufacturing

    Explore how Omron’s latest X-Ray machines and AI-driven solutions are setting new standards in manufacturing efficiency and quality control. The manufacturing landscape is swiftly evolving, and Omron is at the forefront with its innovative PCB inspection machines. These systems offer profound insights into SMT production process, enhanced quality control, and can significantly reduce labor costs. Advancements… Read More…

  • KUKA Establishes New Software and Digital Business Segment

    KUKA Establishes New Software and Digital Business Segment

    Software is playing an increasingly important role in mechanical engineering. What used to be mostly solved mechanically is now done by electronics and the associated software. “With KUKA Digital, we are expanding our offering in order to position ourselves broadly for a market with strong growth potential. Our customers need products, solutions and consulting approaches to digitalize… Read More…