The connected health market was valued at approximately US$ 62.61 billion in 2022 and is projected to grow to US$ 453.56 billion by 2030. This market is anticipated to experience a compound annual growth rate (CAGR) of 28.1% from 2022 through 2030.
Connected health refers to a healthcare management approach that leverages technology to provide services or address medical concerns. Notable examples of connected health include mobile personal emergency response systems, telemedicine, decentralized clinical trials (DCTs), and remote patient monitoring (RPM). Devices that fall under the connected health category include consumer-grade wearables and wireless implanted medical devices. Common connected medical devices encompass insulin pumps, blood pressure monitors, glucose monitors, pulse oximeters, and personal ECG monitors.
The integration of connected devices enhances agility and mobility, leading to improved productivity and efficiency in healthcare delivery. A 2020 survey by the Pew Research Center revealed that around 21% of Americans, which equates to approximately 70 million individuals, utilize wearable technology. Furthermore, the Internet of Things (IoT) is increasingly being incorporated into healthcare, referred to as the Internet of Medical Things (IoMT). This integration facilitates advanced monitoring capabilities for patients with chronic health conditions. Additionally, mobile health applications and IoMT devices, such as wearables, are gaining widespread adoption globally. For example, in January 2021, Apple introduced a feature called "Time to Walk," which offers an engaging audio walking experience on the Apple Watch for Fitness+ subscribers, aimed at motivating users to enhance their walking habits and enjoy the associated health benefits. Most IoMT devices are designed to connect with a mobile health application, providing valuable data that aids in effective health management. Consequently, the rise of the Internet of Medical Things is expected to introduce new trends in the connected health market in the years ahead.
Connected Health Market Insights by Application
The connected health market can be categorized based on application into several segments: monitoring applications, diagnosis and treatment, healthcare management, wellness and prevention, and others. According to market analysis, the monitoring applications segment accounted for the largest market share in 2022. However, the diagnosis and treatment segment is projected to exhibit the highest CAGR within the connected health market from 2022 to 2030. The digital transformation, characterized by the Internet of Things (IoT), digital sensors, and big data analytics, has unlocked new growth avenues for healthcare services, with monitoring systems playing a crucial role in enhancing patient access. The adoption of these systems surged significantly during the COVID-19 pandemic, highlighting their importance in modern healthcare.
Connected Health Market Insights by End User
From the perspective of end users, the connected health market is divided into hospitals and clinics, home monitoring, and other categories. In 2022, the hospitals and clinics segment held the largest share of the market; however, the home monitoring segment is expected to achieve the highest CAGR during the period from 2022 to 2030. According to OAE Publishing Inc., by 2021, nearly 50% of American hospitals had adopted some form of connected health technology for remote patient monitoring, while approximately 80% of European nations had integrated telemedicine services into their healthcare frameworks.
The report on the connected health market utilized various primary and secondary sources, including data from the Center for Disease Control and Prevention and the National Center for Health Statistics, to ensure comprehensive insights and analysis.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Connected Health Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Connected Health Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Connected Health Market - Global Market Analysis
6.1 Connected Health - Global Market Overview
6.2 Connected Health - Global Market and Forecast to 2030
7. Connected Health Market - Revenue Analysis (USD Million) - By Product, 2020-2030
7.1 Overview
7.2 m-Health Devices
7.3 m-Health Services
8. Connected Health Market - Revenue Analysis (USD Million) - By Application, 2020-2030
8.1 Overview
8.2 Diagnosis and Treatment
8.3 Monitoring Applications
8.4 Wellness and Prevention
8.5 Healthcare Management
8.6 Others
9. Connected Health Market - Revenue Analysis (USD Million) - By End User, 2020-2030
9.1 Overview
9.2 Home Monitoring
9.3 Hospitals and Clinics
9.3 Others
10. Connected Health Market - Revenue Analysis (USD Million), 2020-2030 - Geographical Analysis
10.1 North America
10.1.1 North America Connected Health Market Overview
10.1.2 North America Connected Health Market Revenue and Forecasts to 2030
10.1.3 North America Connected Health Market Revenue and Forecasts and Analysis - By Product
10.1.4 North America Connected Health Market Revenue and Forecasts and Analysis - By Application
10.1.5 North America Connected Health Market Revenue and Forecasts and Analysis - By End User
10.1.6 North America Connected Health Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 Canada Connected Health Market
10.1.6.1.1 Canada Connected Health Market, by Product
10.1.6.1.3 Canada Connected Health Market, by Application
10.1.6.1.4 Canada Connected Health Market, by End User
10.1.6.2 Mexico Connected Health Market
10.1.6.2.1 Mexico Connected Health Market, by Product
10.1.6.2.2 Mexico Connected Health Market, by Function
10.1.6.2.3 Mexico Connected Health Market, by Application
10.1.6.2.4 Mexico Connected Health Market, by End User
10.1.6.3 US Connected Health Market
10.1.6.3.1 US Connected Health Market, by Product
10.1.6.3.2 US Connected Health Market, by Function
10.1.6.3.3 US Connected Health Market, by Application
10.1.6.3.4 US Connected Health Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Saudi Arabia
10.4.3 U.A.E
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Connected Health Market - Key Company Profiles
13.1 Athena Health
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
Note - Similar information would be provided for below list of companies
13.2 AgaMatrix
13.3 AirStrip
13.4 AliveCor Inc
13.5 Allscripts Healthcare, LLC
13.6 Apple Inc
13.7 NXGN Management, LLC
13.8 Cerner Corporation
13.9 Cognizant
13.10 Honeywell International Inc
14. Appendix
14.1 Glossary
14.2 About
14.3 Market Intelligence Cloud
LIST OF TABLES
LIST OF FIGURES
The List of Companies - Connected Health Market
Athena Health
AgaMatrix
AirStrip
AliveCor Inc?
Allscripts Healthcare, LLC
Apple Inc
NXGN Management, LLC
Cerner Corporation
Cognizant
Honeywell International Inc
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