The Global Connected Healthcare Market Size is augmented due to the factors like evolving healthcare model across the globe, increased penetration of internet around the world, fast developing technology, increased use of wearable devices, rising aging population and increasing need for integration of healthcare services.
At a compound annual growth rate of 15.7%, the size of the worldwide Connected Healthcare market is projected to reach USD 103,202.17 Million in 2030.
Connected healthcare is transformational, but it pose multiple challenges related to sensitivity of health data. It includes threats of cyberattack, dangers related to data security and lack of skilled manpower to handle large volume data along with lack of awareness related to health apps may restrict the market growth.
The global connected healthcare industry is segmented on the basis of function, region, type and application. The domain of function has varied range which includes telemedicine, assisted living, home monitoring and clinical monitoring. While in terms of type of connected healthcare, the segmentation have various categories which is inclusive of mHealth services, e-prescription and mHealth devices. Owing to wide applications, mHealth services segment accounts the maximum share in the type segment. In terms of application of connected healthcare market, the segmentation is extended into monitoring applications, wellness & prevention, diagnosis & treatment, education & awareness, healthcare management, and others.
Based on geographical segmentation, the global connected healthcare market is dominated in regions which include Europe, North America, Asia-Pacific, The Middle East and Africa. North America holds highest rank in the global market and is expected to grow at an exponential rate in the upcoming years. In North America, U.S.A. has the highest market share due to heavy use of the internet, presence of key market players, availability of evolved healthcare models and presence of skilled manpower.
Europe is anticipated to have lucrative growth in the global connected healthcare market in the next couple of years because of high penetration of internet, increasing geriatric population and escalated need for integrated healthcare services.
In Asia-Pacific, countries like India, Japan and China are expected to advance at the major rate in the forthcoming years. It is anticipated that these emerging countries will contribute a major global connected healthcare market share as there is escalated use of wearable devices, growing use of smartphones, growing awareness regarding integrated healthcare services and higher government spending on healthcare.
The Middle East & Africa region is likely to reflect limited growth and have global connected healthcare market share due to low penetration of internet and lack of skilled technicians. With the growing awareness related to the use of data in healthcare, Latin America is slated to record a steep growth over the projection period.
The global connected healthcare industry has leading players who dominate the market which includes Airstrips Technology (San Antonio), Agamatrix.inc (USA), AliveCore Inc. (Australia), Boston Scientific Co. (US), GE Healthcare (UK), Apple Inc. (USA), Athenahealth Inc. (US), Honeywell Life care Solutions (UK), Cerner (USA) and Medtronics (Republic of Ireland).
Connected Healthcare Market Scope
|Revenue forecast in 2030
|USD 103,202.17 Million
|CAGR of 15.7 % during 2020-2030
|By Type, By End-Use, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|GE Healthcare, Accenture Plc., SAP SE, Boston Scientific Corporation, IBM Corporation, Oracle Corporation, Microsoft Corporation, Airstrip Technology, Medtronic, and Allscripts.
Key segments of ‘Global Connected Healthcare Market’
Based on type, the market has been segmented into,
- M-Health Services
- M-Health Devices
Based on function, the market has been segmented into,
- Home Monitoring
- Clinical Monitoring
- Assisted Living
Based on region, the market has been segmented into,
- North America
- United Kingdom
- Asia Pacific (APAC)
- The Rest of the World (ROW)