The medical device market in the United States accounts for almost 5% of the total healthcare market with total annual spend of $3 trillion. This market includes a wide range of products from simple devices like thermometers to more complex IoT devices like patient monitors, smart infusion pumps, and MRI scanners.
A big trend driving the medical device market is wireless (IoT) and mobility. There are several key long-term policy and developments driving this:
- Electronic health record (EHR)
- Patient safety
- Patient mobility and quality of care
- Asset tracking and utilization