Connected Healthcare Market: Information by Type (M-Health Services and M-Health Devices) and Application (Monitoring Applications and Other Applications)—Forecast Till 2027

Connected healthcare is a socio-technical model for healthcare management and delivery. The device uses technology and cellular network to provide healthcare services. It aids medical practitioners in managing the outcomes of the treatment and stays updated about patient health. Globally, the prevalence of cancer, cardiac diseases, diabetes, and neurological diseases are increasing at an alarming rate, which is further boosting the demand for connected healthcare models for the continuous monitoring of such diseases. To attend to the situation, several manufacturers are heavily investing in R&D activities for developing innovative health and wellness monitoring devices. In addition to this, the governments and leading players are arduously working to educate the patient’s regarding various diseases, its symptoms, and its effects on life. For instance, in 2011, the U.S. government established a federal incentive program for the adoption of electronic health records.

In the last few years, the medical and wearable devices have been gaining huge popularity as it aids in tracking the health and staying ahead of a number of diseases by studying the symptoms. Other factors driving the market include the rising prevalence of epidemic, contagious, and life-threatening diseases, increasing awareness among the people regarding health and wellbeing, rapid advancements in technology, rising literacy rates in the developing countries, increasing adoption of smartphones and internet among the youngsters and geriatrics. Apart from this, the rapidly revolutionizing e-commerce sector in the field of healthcare is subsequently surging the demand for online pharmacies and connected healthcare devices as they are cost-effective and convenient. For instance, Medic Mobile developed a cost-effective m-Health to help community workers in rural areas. Similarly, the players are now developing highly advanced healthcare applications, which has the potential to alert the user with phone calls or a message regarding medical appointments and medications, which is further adding fuel to the market growth. However, the increasing occurrence of data leakage, hacking, and receiving spoof products are impeding the market growth to some extent.

Segmental Insights

The globally connected healthcare market is segmented into type, application, and region.

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By type, the market is segmented into M-health services, M-health devices, and E-prescription. The M-health services segment is grabbing the highest share in the connected healthcare market. This can be attributed to the rising prevalence of life-threatening conditions, including neurological disorders and cardiac diseases, due to increased stress in daily lives. The M-health services segment is further segmented into network and services/mobile operators, mobile health apps and content solutions, and healthcare providers and pharmaceuticals. The mobile health apps and content solution segment are dominating the M-health segment. Similarly, the network and services/mobile operators segment are expected to account for a significant share among the M-health services. Lastly, mobile health apps and content solution segments are bifurcated into big data and software.

The M-health devices segment is dominating the market due to the increasing demand for devices across the globe. In line with this, a number of manufacturers of medical devices and wearable devices are heavily investing in the R&D activities for developing technologically advanced devices to sustain in the raging competition. The M-health devices segment is trifurcated into wearable devices, medical devices, and connected drug delivery systems. The wearable devices segment is segmented into a smartwatch, wristwear, hand-worn products, head-worn products, body-worn products, wearable patch, and other wearable devices. Lastly, the connected drug delivery systems segment is further segregated into inhalers and auto-injectors.

E-prescriptions are witnessing huge demand in developed and developing regions due to the increasing penetration of the internet and the rising number of internet users. Additionally, the online pharmacies deliver drugs as per scheduled delivery, which is further boosting the segment growth. However, the threat of receiving spoof drugs and the possibility of not receiving medications on time is likely to impede the segment growth.

Based on application, the market is segmented into diagnosis and treatment, monitoring applications, healthcare & management, wellness & prevention, education & awareness, and other applications. The monitoring applications segment is expected to account for the highest share due to the increasing demand for wearable and medical devices. Additionally, the manufacturers of wearable and medical devices are developing new and technologically advanced devices to increase their consumer base, which is further boosting the segment growth. The diagnosis and treatment segment is projected to grow at a significant rate as it enables the continuous monitoring of the patient and aids in tracking the patient’s health.

Regional Insights

Regionally, the globally connected healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America is dominating the globally connected healthcare market. This can be attributed to the increasing development in the healthcare infrastructure, rising healthcare expenditure, high adoption of smartphones, wearable devices, and medical devices, increasing government support, and rising presence of players providing health and medical insurances. The region is backed with robust healthcare infrastructure equipped with the best quality patient screening and monitoring devices, which is expected to contribute to the market growth. Similarly, the growing adoption of smartphones, wearable devices, and medical devices due to high-speed internet is boosting the market growth. The M-health service providers in the region offer on-time and error-less services in pressing situations. For instance, the recent outbreak of coronavirus in North America is effectively handled by the M-health service providers in the region.

Europe is second in the global connected healthcare market. The region is backed with the presence of major revenue earning countries, such as the U.K, Germany, France, Italy, Russia, and Ireland. In the U.K, the connected healthcare market is well structured through National Health Services (NHS), which is expected to drive the European connected healthcare market. Additionally, the region is backed with the presence of leading manufacturers who are arduously working to develop technologically advanced wearable and medical devices across Europe.

The Asia Pacific is expected to be the fastest-growing connected healthcare market. China, India, and Japan are the major contributors to the market on account of the increasing population and rising prevalence of cardiac diseases, cancer, and obesity. Apart from this, the M-health devices and m-health services are available at low prices in the region, which is further boosting the market growth.

Latin America is emerging in the connected healthcare market. The rapid revolutionization of the healthcare sector in Brazil, Argentina, and Peru is further grabbing the attention of leading and emerging market players in the connected health care market. Similarly, the countries in Central America, including Panama and Peru, have a flourished and well-developed medical tourism sector, which is expected to drive the market growth.

Key Players

Global connected healthcare market is fragmented in nature. Several large and small-scale players are focusing on price, brand, and new product development to expand their consumer base. Some of the key players are engaging in acquisitions, collaborations, and partnerships to gain a competitive edge. Apart from this, the market is consolidated with the presence of Airstrip Technologies, Agamatrix, Inc., Apple Inc., Alivecor Inc., Boston Scientific Corporation, Allscripts, Honeywell Lifecare Solutions, GE Healthcare, Cerner, Persistent Systems, Athenahealth, Microsoft, Medtronic, Sanofi, Qualcomm, Koninklijke Philips NV, Vivify Health, Inc., and Sanofi.

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Connected Healthcare Market Segmentation

By Type

M-health services
Network and Services/Mobile Operators
Mobile Health Apps and Content Solution
Big data
Software
Healthcare Providers and Pharmaceuticals
Pharmaceuticals
Healthcare Providers
M-health devices
Wearable Devices
Smart Watch
Wrist Wear
Hand Worn Products
Head Worn Products
Body Worn Products
Wearable Patch
Other Wearable Devices
Medical Devices
Cardiac Monitors
Blood Pressure Monitors
Pulse Oximeter
SMBG
Other Medical Devices
Connected Drug Delivery Systems
Inhalers
Auto-injectors
E-prescription
By Application

Diagnosis and Treatment
Monitoring Applications
Healthcare & Management
Wellness & Prevention
Education & Awareness
Other Applications
By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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This release was published on openPR.