The connected healthcare market size is expected to see exponential growth in the next few years. It will grow to $424.8 billion in 2028 at a compound annual growth rate (CAGR) of 28.0%. The growth in the forecast period can be attributed to increasing adoption of personalized medicine, health data interoperability, value-based care models, increasing mental health and well-being focus, healthcare access and equity, growing cybersecurity and data protection, growing demand for population health management. Major trends in the forecast period include expansion of iot devices and sensors, artificial intelligence in healthcare, wearable health technology, technological advancements, and product innovations.
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Scope Of Connected Healthcare Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Connected Healthcare Market Overview
Market Drivers –
The growing integration of IT in healthcare is significantly contributing to the growth of the connected healthcare market. Connected healthcare uses the internet and other wireless technology to gather patients’ data and help patients connect with their caregivers, which promotes healthcare monitoring remotely using automated systems. Connected healthcare requires healthcare IT integration software and its integration into healthcare devices and applications for smooth function and maintaining of vast medical data, which enhances remote healthcare management. For instance, in May 2021, according to a survey conducted among 112 provider chief financial officers and financial and revenue cycle executives by The Healthcare Financial Management Association, a US-based healthcare association, stated that the deployment of automation technologies in hospitals increased three times from 2020 to 2021, where 50% of hospitals had deployed automation technologies in 2021 compared to 15% of hospitals in 2020. Therefore, the growing integration of IT in healthcare is expected to propel the growth of the connected healthcare market over the forecast period.
Market Trends –
Major companies operating in the connected healthcare market are focusing on the development of technologically advanced products such as ZAIDYN Connected Health solution to enhance remote patient monitoring and improve healthcare outcomes. ZAIDYN Connected Health assists pharmaceutical firms, healthcare providers, and payers in innovating in order to better recognize unmet needs, engage patients, and enhance health outcomes. For instance, in October 2023, ZS Associates Group, Inc., a US-based management consulting and technology firm, launched the AI-powered ZAIDYN Connected Health solution as part of the ZAIDYN by ZS platform. It provides three product suites that help bridge gaps in healthcare and build a patient-centric future: health insights, patient engagement, and connected research.
The connected healthcare market covered in this report is segmented –
1) By Type: e-Prescription, mHealth Services, mHealth Devices
2) By Function: Remote Patient Monitoring, Clinical Monitoring, Telemedicine, Other Functions
3) By Application: Monitoring Applications, Diagnosis And Treatment, Education And Awareness, Healthcare Management, Wellness And Prevention
4) By End Users: Hospitals And Clinics, Home Monitoring
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Regional Insights –
North America was the largest region in the connected healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected healthcare market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the connected healthcare market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Koninklijke Philips N.V., International Business Machines Corporation, AirStrip Technologies LP, AgaMatrix Holdings LLC, AliveCor Inc., Apple Inc., Athenahealth Inc., Boston Scientific Corporation, GE Healthcare, Medtronic plc, Microsoft Corporation, Qualcomm Incorporated, Systems Applications and Products in Data Processing (SAP), Oracle Corporation, Accenture plc, Honeywell Life Care Solutions, Persistent Systems Limited, Sanofi S.A., Vivify Health Inc., Entia Ltd., GlaxoSmithKline plc, NeuroFlow Inc., Butterfly Network Inc., OneRail, Evidation Health Inc., DarioHealth Corp., Pixium Vision SA, Stanley Healthcare Solutions
Table of Contents
1. Executive Summary
2. Connected Healthcare Market Report Structure
3. Connected Healthcare Market Trends And Strategies
4. Connected Healthcare Market – Macro Economic Scenario
5. Connected Healthcare Market Size And Growth
…..
27. Connected Healthcare Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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