Network Connected Medical Devices Market Size, Share, Growth, and Industry Analysis By Type (Cardiac Monitoring Devices, Neuro Monitoring Devices, and Respiratory Monitoring Devices) By Application (Hospital, Clinic, and Others), Regional Insights and Forecast From 2025 To 2034

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NETWORK CONNECTED MEDICAL DEVICES MARKET OVERVIEW

The global Network Connected Medical Devices Market is projected to reach USD 34.82 billion in 2025, steadily progressing to USD 101.63 billion by 2034, with a CAGR of 14.33% from 2025 to 2034.

The United States Network Connected Medical Devices market is projected at USD 10.454 billion in 2025, Europe at USD 8.357 billion, and China at USD 11.341 billion.

Networked medical devices are interconnected with networking systems to gather patients' conditions and aid in the diagnostics of health issues. Medical providers can use network connected medical devices to provide patients with point-of-care testing. Networked medical devices allow for better tracking and measuring of patient monitoring as they are less susceptible to error. Such gadgets facilitate data handling and save large amounts of health data in a secured database for future reference, thereby enhancing data protection.

The latest research and technology breakthroughs in network connected medical devices solutions have made it possible for physicians and patients to quickly access their health status via the internet without fear of data theft. Network connected medical devices with wireless connectivity are designed to work in various contexts, including homecare settings, and network-connected hospitals. Further, the devices are embedded in a patient's body to monitor health and boost healing. These factors are likely to boost the network connected medical devices market development. 

Key Findings 

COVID-19 IMPACT

Usage of Healthcare Connected Devices for Remote Patient Monitoring to Bolster Market Progress

The COVID-19 had a favorable effect on the market growth. The market is expected to grow positively due to significant growth in the number of patients, pressure on doctors to provide sophisticated healthcare, and the production of apps based on connection technology by governments. The pandemic has opened up new avenues for patients to communicate with doctors by adopting these medical devices. Telemedicine services are becoming more popular as governments around the globe advise individuals to stay at home and opt for online consultation. Due to the rising number of covid-19 patients, people adopt innovative technologies to monitor their health and only seek medical help in an emergency. Therefore, smart wearables are becoming increasingly popular. COVID-19 has been recorded in about 186 million people across Africa, Asia Pacific, the Americas, Europe, and Oceania as of July 2021.

LATEST TRENDS

IoT in Healthcare to Facilitate Industry Growth

Health data such as oxygen, blood pressure, weight, blood sugar, and ECGs can be transferred and collected via IoT devices. Network connected medical devices provide real-time monitoring when used in conjunction with a smartphone application. Connected devices capture medical and other health-related data and then communicate it to a physician, allowing for more flexible and efficient medical operations. Furthermore, the data acquired with the help of linked devices is kept in the cloud, allowing physicians simple access to data. The improved usage of network-connected devices contributes to the increase of global network connectivity.

The Internet of Medical Things (IoMT) connects medical devices to the cloud and apps. Connected devices are employed as a portable diagnostic system in the home for patient self-monitoring. According to a network provider based in Aruba, over 85% of the healthcare industries worldwide will be using IoMT services by 2019. Furthermore, nearly 3,000 IT businesses, including healthcare and business administrators, in 21 countries have implemented IoMT to improve patient monitoring, promote innovation, and save expenses. Therefore, these factors are likely to foster the network connected medical devices market progress. 

• According to the U.S. Centers for Medicare & Medicaid Services, over 4.8 million patients used connected wearable medical devices for home-based health monitoring in 2024, significantly increasing remote diagnostics capability.

• As per India’s Ministry of Health, more than 6.3 million network-enabled health devices were distributed under public digital health schemes in 2024, including blood pressure monitors, oximeters, and glucometers linked to national health databases.

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NETWORK CONNECTED MEDICAL DEVICES MARKET SEGMENTATION

By Type

As per type, the market is classified into cardiac monitoring devices, neuro monitoring devices, and respiratory monitoring devices.

The cardiac monitoring device segment is expected to lead the market due to the increasing adoption of various digital monitoring equipment and IoT-based devices to improve patient health outcomes. This factor is likely to facilitate industry growth. 

By Application

The market is categorized into hospitals, clinics, and others based on application.

The hospital segment is expected to lead due to an increase in the frequency of cardiac disorders and many applications in hospital-care facilities, followed by homecare settings. Because of its intuitive features, such as ease of use, high accuracy, and portability, both end-use categories occupy a considerable revenue share in the global networked medical devices market.

DRIVING FACTORS

Rising Need for Cost Containment in Healthcare to Facilitate Market Development

The overall expense of healthcare has climbed by double digits in the last few decades. The key factors responsible for the upsurge in healthcare expenses are rising health insurance premiums, expanding demand for excellent healthcare services, the growing geriatric population, and the incidence of chronic conditions globally. The significant reliance on traditional and technologically outdated clinical technologies, increasing patient readmission, medical errors, and administration expenses, is also a major contributor. These factors may propel the network connected medical devices market development. 

Rising Data Security Measurements to Foster Industry Progress

The key reasons driving the networked medical devices market include increased cyber security for networked medical devices, which reduces the risk of data leaks. Some of the factors driving the market's growth include the ease of sophisticated networking of various classes and configurations devices.

Additionally, the introduction of networked medical devices compels investment for involved medical facilities, increase in government and private funding to develop upgraded networking solutions, and market players' expanding footprint in untapped regions may drive the network connected medical devices market growth. 

• The UK’s National Health Service (NHS) reported a 37% reduction in hospital readmission rates in 2024 among patients enrolled in remote monitoring programs using network-connected cardiac and respiratory devices.

• Germany’s Federal Ministry of Health invested in 1,100+ digitally integrated ICUs in 2024 using network-enabled diagnostic systems, supporting faster treatment for stroke and sepsis patients.

RESTRAINING FACTORS

High Deployment Cost to Hinder Market Progress 

Standardization and connectivity solutions for several network connected medical devices are extremely expensive. IT support and maintenance services, which include adapting and upgrading software to meet changing user needs and maintaining a functioning IT infrastructure, are recurring expenses. It makes up a significant portion of the total ownership cost. Additionally, after the sale, building a unique interface for device integration necessitates additional testing and validation to assure the solution's integrity and functioning for healthcare providers, raising the total cost of ownership. Small healthcare facilities, particularly in rural areas, are hampered due to high costs.

• A 2024 report by the European Commission found that over 39,000 rural clinics lacked the digital infrastructure needed to securely deploy connected medical devices, limiting reach in underserved regions.

• The U.S. Office of the National Coordinator for Health IT estimated up to USD 2,800 per unit in total integration and maintenance costs for network-connected medical devices in small-to-mid-sized healthcare facilities, delaying adoption.

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NETWORK CONNECTED MEDICAL DEVICES MARKET REGIONAL INSIGHTS

Increasing Home Appliances Sales to Foster Market Growth in Asia-Pacific

Regionally, the market is clubbed into Europe, North America, Asia-Pacific, South America, and the Middle East & Africa.

North America is projected to dominate the network connected medical devices market share because of the increasing adoption of networked medical devices such as portable insulin pumps, embedded pacemakers, and integrated stationary devices with an interconnected user interface in the region. Established medical device manufacturers in the U.S. define the medical devices market, and the advanced healthcare ecosystem and major healthcare spending are major contributing factors. This trend is expected to continue during the forecast period.

The Asia Pacific is the second-largest market shareholder because of the emergence of several local manufacturers, government investment, and healthcare expenditure to develop technologically upgraded networked medical devices and network systems that are not vulnerable to security breaches. This factor is expected to propel market growth. 

KEY INDUSTRY PLAYERS

Companies Invest Heavily in Research and Development Activities to Improve Market Position

Multiple domestic and international businesses compete in the connected medical devices industry, which is fragmented and highly competitive. Technological improvements in the industry also provide organizations with a long-term competitive advantage, and the market is seeing several collaborations and mergers. In addition, the market for network connected medical devices is seeing an increase in collaborations and partnerships. Players actively work and partner with other organizations to provide hospitals and individuals with various cost-effective and time-saving services.

• Philips: Philips deployed 1.6 million connected patient monitors globally in 2024, with integration into tele-ICU and real-time alert systems across over 2,300 hospitals.

• Medtronic: Medtronic registered 950,000 connected insulin pump systems deployed in 2024, supported by Bluetooth-linked companion apps in the U.S., EU, and Japan.

List of Top Network Connected Medical Devices Companies

• PhysIQ
• Philips
• NuvoAir AB
• GE
• Myontech Ltd
• Nonin Medical
• Drgerwerk
• OMRON
• Medtronic
• Proteus Digital Health
• Roche
• Aerotel Medical Systems
• Fresenius Medical Care
• OxyGo LLC
• Aero Healthcare
• Hill-Rom

INDUSTRY DEVELOPMENT

• February 2019: OxyGo LLC introduced OxyGo FIT Connect to employ BLE technology to improve patient outcomes. A provider dashboard and mobile application are included in the platform, which will allow real-time monitoring to facilitate troubleshooting, concentrator health checks, preventive maintenance, and geo-locating of the patient's point of contact (POC).

REPORT COVERAGE

The report examines end-user applications in various product areas and the global market for network connected medical devices. The report observes the growth of various market segments by gathering significant data from relevant sources. In addition, the study explains the market size and growth rate of each sector. The study examines important geographic divisions and details all of the beneficial factors that are propelling market expansion. The research report inspects the key variables that are driving the market's growth. It generates trends, limitations, and impulses that influence the market favorably or badly. The numerous segments and applications are also discussed in this section.