Data Analytics in Medical Devices – Thematic Intelligence

Data Analytics in Medical Devices Report Overview

Data analytics has many applications in the medical devices industry including in mHealth apps and other electronic medical devices. It can be used for analyzing data from devices to understand trends in the healthcare industry, and can also be used for quality control purposes and reduce human error. Many medical devices are using insights from data analysis to help shape business decisions, too.

This data analytics in medical devices report is a thematic brief, that identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies. The report covers the data analytics theme.

Data Analytics in Medical Devices – Key Trends

The main trends shaping the data analytics theme over the next 12 to 24 months are classified into three categories including technology trends, macroeconomic trends, and regulatory trends.

Technology Trends: The proliferation of IoT, the rise of cloud technology, LCNC solutions, adoption of AI, and the growing implementation of data and analytics initiatives such as low-code and no-code (LCNC) solutions, edge analytics, real-time analytics, and prescriptive analytics are some of the key technology trends impacting the data analytics theme.

Macroeconomic Trends: Rising cost and growing healthcare demand, requirement for skilled workers, and rising focus on environmental, social, and governance (ESG) are the some of the key macroeconomic trends influencing the data analytics theme.

Regulatory Trends: The Health Insurance Portability and Accountability Act of 1996 (HIPAA) legislation in the US, AI regulations imposed by the EU, and concerns over data privacy and security are the leading regulatory trends impacting- the data analytics theme.

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Data Analytics in Medical Devices – Industry Analysis

The data analytics market was $100.8 billion in 2022 and will grow at a CAGR of more than 13% from 2022 to 2027. The data and content management category is currently the largest market segment, but business intelligence and data discovery tools are the fastest-growing.

The data analytics in medical devices industry analysis also covers –

• Timeline
• Signals
  • M&A Trends
  • Venture financing trends
  • Patent trends
  • Company filing trends
  • Hiring trends

Data Analytics Revenue, by Product, 2019-2027

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Data Analytics - Value Chain Analysis

The data analytics value chain is split into hardware, data management, applications, and delivery.

Hardware: The hardware segment is further divided into semiconductors, cameras, sensors and lasers, servers, storage devices, networking equipment, and edge equipment. The data analytics hardware stack is not too dissimilar from any IT system and so, the servers, storage, and networking equipment are standard and not designed specifically for data analytics use cases. However, as AI capabilities are embedded in various applications, using AI-optimized hardware components, such as semiconductors, for specific analytics workloads will become more frequent.

Data Analytics Value Chain Analysis

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Data Analytics in Medical Devices – Competitive Landscape

The leading public companies making their mark within the data analytics theme are:

• Alphabet (parent company of Google)
• GE Healthcare
• Health Catalyst

The leading private companies making their mark within the data analytics theme are:

• Databricks
• ai
• Merative

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Medical Devices Scorecard

The scorecard approach predicts tomorrow’s leading companies within each sector through three screens including a thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
• The risk screen ranks companies within a particular sector based on overall investment risk.

Medical Devices Scorecard Analysis

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Scope

This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.

The report covers the data analytics theme.

Reasons to Buy

• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying important themes early, enabling companies to make the right investments ahead of the competition and secure that all-important competitive advantage.
• Develop and design your corporate strategies through an in-house expert analysis of data analytics by understanding the primary ways in which this theme is impacting the healthcare industry.
• Stay up to date on the industry’s major players and where they sit in the value chain.
• Identify emerging industry trends to gain a competitive advantage.