Connected Medical Devices: Emerging Applications Boost Growth
Disruptive technologies targeting clinical trials and drug delivery applications will improve patient engagement and data analysis
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Connected medical devices are experiencing major interest from the healthcare industry because of their ability to integrate digital technologies, link with smartphones and online platforms, and share data. Advanced and small-sized sensors are set to accelerate the miniaturization of connected medical devices and improve their accuracy. As such, smart and connected medical devices such as inhalers will increase patients’ adoption of home-based disease management regimes in the next 1 to 2 years.
This research study highlights the need for connected medical devices in healthcare and reviews their benefits in improving patient outcomes. The study covers market drivers, challenges, and key trends in connected medical devices along with the stages of device life cycle and key data acquisition models. Discussion includes a look at emerging applications for connected medical devices, such as sleep monitoring, clinical trials, and drug delivery. The emerging technologies that will disrupt traditional medical approaches include advanced sensors, mobile applications, digital biomarkers, artificial intelligence (AI) and Big Data, and 3D printing.
The study analyzes the impact of COVID-19 on the connected medical devices market and evaluates it using Porter’s 5 Forces framework. It concludes with a look at key growth opportunities and offers strategic recommendations market participants must consider to achieve success.
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