According to a new market report published by Lucintel, the future of the connected health device market looks promising with opportunities in the home monitoring and hospital/clinic segments. The global connected health device market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $42.7 billion by 2025 with a CAGR of 15% to 17% from 2020 to 2025 . The major drivers for growth of connected health device market are increasing adoption of IT in healthcare, increasing healthcare costs, need of easy and reliable patient monitoring systems for chronic diseases, and the growing awareness for health and fitness.
Browse 107 market data tables and 119 figures spread through 208 pages and in-depth TOC on “Connected Health Device Market"
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In this market, the main segments by product type are personal medical devices and wellness devices. The personal medical device includes BP monitors, insulin pump, personal emergency response system, and glucose monitor. The wellness device includes digital pedometers, body analyzers, GPS sports watches, heart rate monitors, and others. On the basis of comprehensive research, Lucintel forecasts that the wellness device segment is expected to show above average growth during the forecast period.
By end use, the connected health device market is segmented into hospital/clinic and home monitoring. The hospitals/clinic segment is expected to remain the largest segment over the forecast period from 2020 to 2025.
APAC is expected to be the largest market and witness the highest growth rate during the forecast period due to a rapidly growing aging population with chronic diseases, rising disposable income, and increased adoption of smart phones.
Emerging trends, which have a direct impact on the dynamics of the industry, include adoption of cloud technology for interconnected healthcare devices, and the adoption of telemedicine. Some of the major suppliers of the connected health device market are Apple Inc., Medtronics, Fitbit, Omron, and Philips Healthcare Company.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the connected health device market by product type, end use, and region, and compiled a comprehensive research report entitled “Connected Health Device Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the connected health device market by type, product type, end use and region as follows:
By Product Type [Value ($ Million) from 2014 to 2025]:
Connected Health Personal Medical Devices
Insulin Pumps
BP Monitors
Portable GPS PERS
Glucose Monitors
Personal Plus Oximeters
Others
Connected Health Wellness Devices
Digital Pedometers
Body Analyzers
GPS Sports Watches
Heart Rate Monitors
Others
By End Use [Value ($ Million) from 2014 to 2025]:
Hospitals/Clinic
Home Monitoring
By Region [Value ($ Million) from 2014 to 2025]:
North America
Europe
Germany
France
United Kingdom
Asia Pacific (APAC)
The Rest of the World (ROW)
This 208-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/connected-health-device-market.aspx or helpdesk@lucintel.com.
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