Mentions of Internet of Things increased by a CAGR of 44% in the medical device industry since 2021
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The global medical device industry experienced a 44% rise in compound annual growth rate (CAGR) in company filings mentions of Internet of Things since 2021. Key companies in terms of mentions include GBS, iRhythm Technologies, and Intelligent Bio Solutions, according to GlobalData’s analysis of over 760 medical device company filings.
Notably, since 2021, Internet of Things was the most referenced theme in terms of mentions, ahead of digitalisation, cloud, and artificial intelligence, according to GlobalData's Company Filings database. Mentions related to Internet of Things increased by 21% year-on-year in 2022 and by 7% year-on-year in 2023.
Top five companies by mentions of Internet of Things in the global medical device industry since 2021
Of the 50 leading companies in the medical device industry, Dentsply Sirona had the highest year-on-year increase in references to Internet of Things in 2023. GlobalData identified 37 Internet of Things related sentences in the company's filings in 2023, 5% of all sentences. Meanwhile, Meridian Bioscience had the highest year-on-year increase in references for Internet of Things in 2022. GlobalData identified 7 Internet of Things related sentences in the company's filings in 2022, 1% of all sentences.
Company filings sentiment related to Internet of Things in the global medical device industry since 2021
GlobalData’s Company Filings Analytics also applies a sentiment weight to reference sentences, based on how positive the sentiment has turned.
Sentiment score is based on the level of positivity on a scale of 0 to 1. The average sentiment score for Internet of Things in 2023 was 0.83, which was more positive compared to the average industry sentiment of 0.54.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
Global Data’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.