Category : Healthcare and Pharmaceuticals | Published at : April-2020 | Delivery Format : PDF | Status: Published | Pages : 190
Acumen research and consulting, estimates that global connected healthcare market is expected to reach the market value of around US$ 6,600 Mn by 2027 and are anticipated to grow at a CAGR of around 11% in terms of revenue during the forecast period 2020 – 2027.
Connected health is also known as technology enable care (TEC) it is a socio-technical model for healthcare management system. This system is mainly used to increase healthcare resources and also provide flexible opportunities to customers that help to get connected with clinicians. It uses market technology readily available for providing health services outside the hospital or medical office. Related wellness involves media, online facilities (such as home care) and control of illness and lifestyle. In turn, it uses emerging technology such as cellular network connected systems to enhance medical treatment.
Market Insights
Increasing penetration of internet across the globe, advance developing technology, rising aging population, growing adoption of wearable devices, increasing more number of healthcare services, emerging healthcare worldwide are the factors that are driving the growth of global connected healthcare market. Remote-health tracking services, the development of modern and advanced wearable devices and the focus on patient monitoring are growing opportunities for relevant medical market players. However, the factors that are hampering the growth of market are risks related to cyber security, data security, lack of manpower to maintain large data, and lack of awareness among consumer regarding health applications. Growing acquisitions by key players and expanded policy spending on expanding healthcare services are projected to generate new business opportunities for market participants over the forecast period. However, increasing merger and acquisition activities between various regional and global players are expected to help the growth of the target market.
The sector is split into m-health services, m-health devices, and e-prescription. Further, m-health services are bifurcated into mobile health apps and content solution (software and big data), healthcare providers, and pharmaceuticals (healthcare providers, pharmaceuticals), network and services/ mobile operators. m-Health devices are bifurcated into medical devices (SMBG, blood pressure monitor, cardiac monitors, and pulse oximeter),connected drug delivery systems (auto-injectors, inhalers) and wearable devices (hand-worn products, head-worn products, body-worn products).
Report coverage
The market research study on “Connected Healthcare Market (By Function: Telemedicine, Home Monitoring, Assisted Living, Clinical Monitoring; By Type: e-Prescription, m-Health Services, m-Health Devices; By Application: Diagnosis & Treatment, Monitoring Applications, Education & Awareness, Wellness & Prevention, Healthcare Management) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global connected healthcare market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global connected healthcare market are function, type, application, and major geographic regions. The connected healthcare market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
North America accounts to hold large share in the connected healthcare market and also anticipated to grow during forecast period. Improved government expenditure on digital health services and the availability of professional is likely to boost the demand for region through the introduction of the advanced medical models. North America is followed by Europe, due to high penetration of internet, and rising geriatric population in this region leads to the growth of the market. Asian Pacific is expected to develop rapidly during forecast period. The rising geriatric population is expected to fuel the related healthcare market in this region, the increasing usage of smartphones and wearable devices and increasing infrastructure spending. Asia-Pacific has several emerging countries, including India, Bangladesh, Thailand, Indonesia Malaysia, Pakistan, Myanmar, and Vietnam, which are rapidly using integrated healthcare technologies to strengthen wellness, increase awareness and address critically-related and chronic disorders. During the forecast period, in Latin America demand for connected healthcare will rise gradually. Middle East & Africa will expand dramatically.
Key Players
Major players included in this report IBM Corporation, Accenture Plc, Boston Scientific Corporation, SAP SE, Oracle Corporation, GE Healthcare, Microsoft Corporation, Medtronic, Airstrip Technology, Allscripts, Koninklijke Philips N.V., Athenahealth Inc., Cerner, Agamatrix, Inc., AliveCor Inc., Qualcomm, and others.
The global connected healthcare market is segmented as below:
Market Segmentation
Connected Healthcare Market By Function
- Telemedicine
- Home Monitoring
- Assisted Living
- Clinical Monitoring
Connected Healthcare Market By Type
- e-Prescription
- m-Health Services
- m-Health Devices
Connected Healthcare Market By Application
- Diagnosis & Treatment
- Monitoring Applications
- Education & Awareness
- Wellness & Prevention
- Healthcare Management
Connected Healthcare Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Connected health is also known as technology enable care (TEC) it is a socio-technical model for healthcare management system. This system is mainly used to increase healthcare resources and also provide flexible opportunities to customers that help to get connected with clinicians.
Increasing penetration of internet across the globe, advance developing technology, rising aging population, growing adoption of wearable devices, increasing more number of healthcare services, emerging healthcare worldwide are the factors that are driving the growth of global connected healthcare market.
The global connected healthcare market size is expected to reach around US$ 6,600 Mn by 2027.
The global connected healthcare market is growing at a CAGR of 11% over the forecast period 2020 to 2027.
North America accounts to hold large share in the connected healthcare market and also anticipated to grow during forecast period.
Major players included in this report IBM Corporation, Accenture Plc, Boston Scientific Corporation, SAP SE, Oracle Corporation, GE Healthcare, Microsoft Corporation, Medtronic, Airstrip Technology, Allscripts, Koninklijke Philips N.V., Athenahealth Inc., Cerner, Agamatrix, Inc., AliveCor Inc., Qualcomm, and others.
The rising geriatric population is expected to fuel the related healthcare market in this region, the increasing usage of smartphones and wearable devices and increasing infrastructure spending.
