The medical device connectivity market is projected to reach USD 2,670.3 Million by 2023 from USD 763.1 Million in 2017, at a CAGR of 23.2% from 2018 to 2023. Rising healthcare costs, the growing adoption of electronic medical records, strong government support and initiatives, increasing need for data analytics in healthcare, and growing focus on the quality of care and patient safety are the factors driving the market connectivity across the globe.

Drivers
1 Increasing Penetration of EHRs & Health Information Exchange Systems in Healthcare Organizations
2 Growing Focus on Care Quality and Patient Safety
3 Healthcare It Initiatives Driving the Integration of Medical Devices With Hospital Information Systems
4 Growing Need to Curtail Healthcare Costs Through A Connected Healthcare Environment
5 Medical Device Connectivity Aids in Data Analytics

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Restraints
1 High Cost of Deployment for Small Healthcare Organizations
2 Reluctance Among Medical Professionals to Adopt Advanced Healthcare It Solutions

Opportunities
1 Increasing Consolidation in the Healthcare Industry
2 Growing Telehealth and Remote Patient Monitoring Markets

Challenges
1 Integration Between Various Hospital Information System

Industry Trends 
1 Growing Need for Semantic Interoperability Through Medical Device Connectivity Solutions
2 Transition of Poc Diagnostics From Hospital to Home Settings
3 Growing Adoption of Telehealth Solutions
4 Shift From Payment-For-Performance to Payment-For-Outcomes Boosting Demand for Medical Device Connectivity Solutions
5 Low-Power Connectivity Solutions and Advancement of Software Architecture
6 M2m Communications & Artificial Intelligence Boom in Healthcare

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