Global medical device connectivity market to hit $33.5B by 2019

The global medical device connectivity market is expected to reach $33.5 by 2019, according a report by Albany, N.Y.-based market research firm Transparency Market Research.

Worth $3.5 billion in 2012, the industry was the largest in North America due to the federally-supported, widespread adoption of EMRs. The wired hardware segment accounted for 40 percent of market share that year, according to the report.

Market growth will be fueled by various factors, including increased need for workflow automation, increased patient safety, saved nursing hours, increased productivity of healthcare institutions, and reducing readmissions, the Transparency Market Research reported. Hospitals and home healthcare agencies represent the largest purchasers of this technology—with much growth expected in the remote monitoring space.

Browse the full report here.