Global medical device connectivity market expected to hit nearly US$9 billion by 2027

KUALA LUMPUR (Nov 11): The global medical device connectivity (MDC) market is expected to hit US$8.96 billion (RM41.41 billion) by 2027, from US$2.47 billion in 2022, according to Frost & Sullivan.

MDC is described as helping to minimise errors and omissions in patient diagnostic data, and allowing physicians to access the most current data on demand.

As a result, clinicians can spend more time at the bedside, thus elevating the level of patient care.

In a statement on Thursday (Nov 10), Frost & Sullivan said MDC helps overcome staffing challenges in organisations, as data from medical devices is added to patients’ electronic records without manual entry.

The consulting firm’s healthcare research analyst Vittal Bhaskar Rao said Covid-19 had changed the future of healthcare, with growing emphasis on home-based care due to constraints on hospital bed capacity and a shortage of skilled healthcare professionals.

He said due to this, MDC for home-based medical devices will rise with medical technology companies focusing on physician offices and home use in the next two years.

“Artificial intelligence, machine learning, and cloud technologies are finding increasing application in the MDC market, as the wealth of data generated needs further analysis.

“This encourages companies to invest in technologies to develop predictive analytics solutions,” said Rao.


Source: The Edge



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