This Connected Diagnostics market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Connected Diagnostics market.
Connected Diagnostics Market: Introduction
Nowadays, the use of the Internet is widespread in day-to-day life. Connected diagnostics service providers offer consumers a wide range of choices for sharing, viewing, protecting, and storing growing collections of data. Connected diagnostics technology is used to collect data through wireless LAN (WLAN) or wireless WAN digital cellular connections. Connected diagnostics include digital equipment by connecting embedded technology. The usage of connected diagnostics technology is common in the healthcare industry. With the help of connected diagnostics, doctors can detect any medical problem. The technology enhances collaboration among radiologists, physicians, and technologists. The performance of a communication system (PACS) gets improved with the help of connected diagnostics. Through remote monitoring, predictive maintenance, and remote maintenance, offsite service contract connected diagnostics providers can fix problems. Connected diagnostics offer several advantages such as improved performance, application optimization, real-time load optimization, and storage virtualization.
Many end users adopt connected diagnostics technology for better performance and accurate data. Connected diagnostic technology is easy to use and can be operated from multiple places, as it is designed to showcase complete data of the patient. Connected diagnostics technology has a lot of applications. It can be used in continuous monitoring and diagnosis of system fault alerts in both on-highway and off-highway mode. Connected diagnostics work across a broad range of equipment, using a convenient mobile app, an email, or a web portal. Healthcare sector conducts lots of documentation that requires maintenance, updates, and files on a regular basis. Medical practices use an EPRMS, referred to as an Electronic Patient Record Management System, to collect the data generated from connected diagnostic devices.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Connected Diagnostics Market: Drivers and Challenges
The growth in on-premises and cloud services are the primary reasons for the development of the connected diagnostics market. Nowadays, people are using various innovative technologies to preserve their best data of patients by using connected diagnostic technology. Connected diagnostics help in sharing that data with doctors and family members. The manufacturers of medical industry hardware are also using connected diagnostics for several purposes. These are the primary factors which are driving the connected diagnostics market.
The primary challenge faced by healthcare professionals in connected diagnostics market is the high cost of implementation. The cost of establishing connected diagnostics software in hospital premises is too high, due to its features and installations. The second challenge is to ensure the privacy of the patients. Hospitals have to secure patient records and medical history. The Health Insurance Portability and Accountability Act (HIPAA) security rule was announced for the protection and accessibility of these records.
Global Connected Diagnostics Market: Competition Landscape
The names of the companies are: Abbott, Danaher, Becton, Dickinson and Company, Johnson & Johnson, Roche Diagnostics, Siemens, Sysmex Corporation, Thermo Fisher Scientific, and McKesson Corporation.
Global Connected Diagnostics Market: Regional Overview
On the basis of geography, North America is expected to capture the largest market share, owing to well-developing connected diagnostics vendors, and due to the presence of various innovative technology developers and manufacturers in the region. Europe is also expected to gain substantial market share due to the introduction of new technologies and applications. APAC is expected to be the fastest growing connected diagnostics market, owing to the government initiatives being taken towards the improvement of technologies by emerging economies such as India and China.
The connected diagnostics markets in Latin America and MEA is also expected to witness high growth rates in the coming period, due to an increase in the demand in medical uses.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2013–2017
- Market Size & Forecast, 2018 to 2028
- Supply & Demand Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Market Solutions Technology
- Value Chain of the Market
- Market Drivers and Restraints
Regional Analysis for the Market includes:
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- SEA & Others of APAC
- Australia and New Zealand (A&NZ)
- Rest of SEA & Others of APAC
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Connected Diagnostics Market: Segmentation
The connected diagnostics market can be segmented into deployment, component, application, and regions.
Segmentation of the connected diagnostics market on the basis of deployment:
Segmentation of the connected diagnostics market on the basis of component:
Segmentation of the connected diagnostics market on the basis of application:
- Detailed overview of the parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Connected Diagnostics Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Connected Diagnostics Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Connected Diagnostics Market report?
In addition to up-to-date market figures and customized of the Connected Diagnostics Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.