Connected Health and Wellness Solutions Market Report 2024: Strategies And Recent Developments | Omron Healthcare Inc., Koninklijke Philips N.V., GE Healthcare Technologies Inc

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The Business Research Company offers in-depth market insights through Connected Health and Wellness Solutions Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The connected health and wellness solutions market size has grown exponentially in recent years. It will grow from $57.11 billion in 2023 to $69.72 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. The growth in the historic period can be attributed to aging population and chronic diseases, digital health adoption, healthcare costs and efficiency, remote patient monitoring, and pandemic-induced demand
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The connected health and wellness solutions market size is expected to see exponential growth in the next few years. It will grow to $158.62 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. 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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Market Segmentation:
The main product types of connected health and wellness solutions are personal medical devices, wellness products, and software & services. Personal medical devices are devices specifically developed for home consumers to measure objective data such as oxygen saturation and blood glucose levels. These are used for clinical monitoring, telehealth and the application of these devices are diagnosis & treatment, wellness & prevention, monitoring, and others.

Major Driver - Rapid Adoption Of Mhealth Devices Drives Growth In The Connected Health And Wellness Solutions Market
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. According to Gartner, a US-based consulting firm that research on technology, in 2021, Global spending on wearable devices raised to $81.5 billion from $69 billion in 2020, or an 18.1% increase, and in 2022, estimated to grow to $93.85 billion. Therefore, the increase in spending on wearable devices will boost the demand for mhealth devices and this, in turn, drives the connected health and wellness solutions market.

Competitive Landscape:
Major companies operating in the connected health and wellness solutions market include Omron Healthcare Inc., Koninklijke Philips N.V., GE Healthcare Technologies Inc., Drägerwerk AG & Co. KGaA, Fitbit LLC, Abbott Laboratories, Apple Inc., Garmin Ltd., Boston Scientific Corporation, Medtronic PLC, Masimo Corporation, ResMed Inc., NXGN Management LLC, Allscripts Healthcare LLC, Cerner Corporation, IBM Corporation, BSN Medical Inc., AgaMatrix Inc., Microlife AG, Body Media Ltd., Aerotel Medical Systems Ltd., Mckesson Corporation, Draeger Medical Systems Inc., Avcor Medical Health Care Products Inc., BioTelemetry Inc., Honeywell International Inc., Qualcomm Life Inc., FitLinxx Inc., iHealth Labs Inc., Jawbone Inc.

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Top Trend - Surging Adoption Of Digital Health Technologies Enhance Connected Health And Wellness Solutions Market
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 Rock Health, 80% of all respondents reported having accessed care via telemedicine at some point in their lives, up 8pp from 72% in 2021.

The Table Of Content For The Market Report Include:
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 Market - Macro Economic Scenario
5. Connected Health and Wellness Solutions Market Size And Growth
…..
27. Connected Health and Wellness Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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