The Connected Health and Wellness Solutions Global Market Report 2023 by The Business Research Company, provides connected health and wellness solutions market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Connected Health and Wellness Solutions Global Market Report 2023, the global connected health and wellness solutions market size grew from $46.53 billion in 2022 to $56.15 billion in 2023 at a compound annual growth rate (CAGR) of 20.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global connected health and wellness solutions is expected to grow to $119.98 billion in 2027 at a CAGR of 20.9%.
The increase in the adoption of mhealth devices is driving the growth of the connected health and wellness solutions market. Applications such as telemedicine applications and mobile monitoring installed on mhealth devices help to track the health record and assist healthcare practitioners to get information. The mhealth devices include fitness trackers, smartphones, smartwatches, and more.
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The connected health and wellness solutions market is segmented:
1) By Product: Personal Medical Devices, Wellness Products, Software & Services
2) By Function: Clinical Monitoring, Telehealth
3) By Application: Diagnosis & Treatment, Wellness and prevention, Monitoring, Other Applications
The increasing adoption of digital health technologies is a key trend gaining popularity in the connected health and wellness solutions market. Digital health technologies use software, computing platforms, sensors, and more, to give accurate health to patients. The demand for digital health technologies has increased in the past few years. According to a survey conducted by Kareo involving 600 healthcare providers, in 2020, 41% of the respondent said that they were using telemedicine or digital health technology increase from 22% reported in the 2018 survey, and 34% of the respondents said that they were in the process of deploying virtual care services.
The connected health and wellness solutions market report table of contents includes:
1. Executive Summary
2. Connected Health and Wellness Solutions Market Characteristics
3. Connected Health and Wellness Solutions Market Trends And Strategies
4. Connected Health and Wellness Solutions – Macro Economic Scenario
5. Connected Health and Wellness Solutions Market Size And Growth
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27. Connected Health and Wellness Solutions Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Connected Health and Wellness Solutions Market
29. Connected Health and Wellness Solutions Market Future Outlook and Potential Analysis
30. Appendix
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