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Connected Health Device Market Trends and Forecast
The future of the global connected health device market looks promising with opportunities in the home monitoring and hospital/clinic segments. The global connected health device market is expected to reach an estimated $60.2 billion by 2027 and grow at a CAGR of 19.8% from 2022 to 2027. The major drivers for growth of the connected health device market are increasing adoption of IT in healthcare, increasing healthcare cost, and need of easy and reliable patient monitoring system for chronic diseases along with the growing awareness of health and fitness.

 Connected Health Device Market by Product Type, End Use

Emerging Trends in Connected Health Device Market
Emerging trends, which have a direct impact on the dynamics of the industry, include the adoption of cloud technology for interconnected healthcare devices and adoption of telemedicine.
A total of XX figures / charts and XX tables are provided in this 208-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of the connected health device market report, please download the report brochure.

Connected Health Device Market by Segments

Connected Health Device Market by Segment
In this market, hospitals/clinics are the largest end use segment, whereas the wellness device segment is expected to show above average growth over the forecast period. Growth in various segments of the connected health device market are given below:

The study includes trends and forecast for the global connected health device market by product type, end use, and region as follows:
Connected Health Device Market by Product Type [Value ($ Million) from 2016 to 2027]:  

Connected Health Device Market by End Use [Value ($ Million) from 2016 to 2027]:

  • Hospitals/Clinics                                         
  • Home Monitoring                                                                                                            

Connected Health Device Market by Region [Value ($ Million) from 2016 to 2027]:

List of Connected Health Device Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies connected health device companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the connected health device companies profiled in this report include-

Connected Health Device Market Insights

  • Lucintel forecasts that the wellness device segment is expected to show above average growth during the forecast period.
  • By end use, the global connected health device market is segmented into hospitals/clinics and home monitoring. The hospital/clinic segment is expected to remain the largest end use market over the forecast period from 2018 to 2023.
  • APAC is expected to be the largest market and witness the highest growth rate during the forecast period due to rapidly growing aging population, increasing chronic diseases, rising disposable income, and high adoption of smart phones.

Features of the Connected Health Device Market

  • Market Size Estimates: Connected health device market size estimation in terms of value ($B).
  • Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
  • Segmentation Analysis: Connected health device market size by various segments, such as product type and end use.
  • Regional Analysis: Connected health device market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different product types, end uses, and regions for connected health device market.
  • Strategic Analysis: This includes M&A and competitive landscape for the connected health device market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ
Q1. What is the connected health device market size?
Answer: The global connected health device market is expected to reach an estimated $36.1 billion by 2023.
Q2. What is the growth forecast for connected health device market?
Answer: The connected health device market is expected to grow at a CAGR of ~21% from 2018 to 2023.
Q3. What are the major drivers influencing the growth of the connected health device market?
Answer: The major drivers for this market are increasing adoption of IT in healthcare, increasing healthcare cost, and need of easy and reliable patient monitoring system for chronic diseases along with the growing awareness of health and fitness.
Q4. What are the major applications or end use industries for connected health devices?
Answer: Hospitals/clinics and home monitoring are the major end uses for connected health devices.
Q5. What are the emerging trends in connected health device market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the adoption of cloud technology for interconnected healthcare devices and adoption of telemedicine.
Q6. Who are the key connected health device companies?
Answer: Some of the key medical device companies are as follows:

  • Apple Inc.
  • Medtronics
  • Fitbit
  • Omron
  • Philips Healthcare Company

Q7. Which will be the largest product type segment of the connected health device market in the forecast period?
Answer: Lucintel forecasts that the wellness device segment is expected to show above average growth during the forecast period.
Q8. In connected health device market, which region is expected to be the largest in the forecast period?
Answer: APAC is expected to be the largest market and witness the highest growth rate during the forecast period.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions
Q.1. What are some of the most promising, high growth opportunities for the global connected health device market by product type, (personal medical devices [insulin pumps, BP monitors, portable GPS PERS, glucose monitors, personal plus oximeters, and others] and wellness devices [digital pedometers, body analyzers, GPS sports watches, heart rate monitors, and others]), end use (home monitoring and hospitals/clinics), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which product segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in the connected health device market?
Q.5. What are the business risks and competitive threats in the connected health device market?
Q.6. What are the emerging trends in the connected health device market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the connected health device market?
Q.8. What are the new developments in the connected health device market and which companies are leading these developments?
Q.9. Who are the major players in the connected health device market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in the connected health device market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity did occur in the last five years in the connected health device market?

 


Table of Contents
 
1. Executive Summary         

2. Market Background and Classifications        
2.1: Introduction, Background, and Classifications
2.2: Supply Chain   
2.3: Industry Drivers and Challenges      

3. Market Trends and Forecast Analysis from 2016 to 2027 
3.1: Macroeconomic Trends (2016-2021) and Forecast (2022-2027)           
3.2: Global Connected Health Device Market Trends (2016-2021) and Forecast (2022-2027)
3.3: Global Connected Health Device Market by Product Type          
3.3.1: Personal Medical Devices  
3.3.1.1: BP Monitors           
3.3.1.2: Insulin Pumps       
3.3.1.3: Personal Emergency Response Systems (PERS)     
3.3.1.4: Glucose Monitors
3.3.1.5: Personal Pulse Oximeters          
3.3.1.6: Other Personal Medical Devices
3.3.2: Wellness Devices    
3.3.2.1: Digital Pedometers
3.3.2.2: Body Analyzers    
3.3.2.3: GPS Sports Watches
3.3.2.4: Heart Rate Monitors
3.3.2.5: Other Wellness Devices
3.4: Global Connected Health Device Market by End Use
3.4.1: Hospitals/Clinics
3.4.2: Home Monitoring

4. Market Trends and Forecast Analysis by Region
4.1: Global Connected Health Device Market by Region
4.2: North America Connected Health Device Market
4.2.1: Market by Type: Personal Medical and Wellness Device
4.2.2: Market by Product: Personal Medical Device
4.2.3: Market by Product: Wellness Device       
4.2.4: United States Connected Health Device Market
4.2.5: Mexican Connected Health Device Market         
4.2.6: Canadian Connected Health Device Market       
4.3: European Connected Health Device Market          
4.3.1: Market by Type: Personal Medical and Wellness Device        
4.3.2: Market by Product: Personal Medical Device     
4.3.3: Market by Product: Wellness Device
4.3.4: German Connected Health Device Market          
4.3.5: United Kingdom Connected Health Device Market        
4.3.6: French Connected Health Device Market
4.4: APAC Connected Health Device Market
4.4.1: Market by Type: Personal Medical and Wellness Device
4.4.2: Market by Product: Personal Medical Device
4.4.3: Market by Product: Wellness Device       
4.4.4: Japanese Connected Health Device Market       
4.4.5: Indian Connected Health Device Market
4.4.6: Chinese Connected Health Device Market         
4.5: ROW Connected Health Device Market
4.5.1: Market by Type: Personal Medical Device and Wellness Device       
4.5.2: Market by Product: Personal Medical Device
4.5.3: Market by Product: Wellness Device

5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter’s Five Forces Analysis

6. Cost Structure Analysis
6.1: Cost of Goods Sold
6.2: SG&A    
6.3: EBITDA Margin

7. Growth Opportunities and Strategic Analysis
7.1: Growth Opportunity Analysis
7.1.1: Growth Opportunities for the Global Connected Health Device Market by Type           
7.1.2: Growth Opportunities for Personal Medical Device in the Global Connected Health Device Market by Product
7.1.3: Growth Opportunities for Wellness Device in the Global Connected Health Device Market by Product  
7.1.4: Growth Opportunities for the Global Connected Health Device Market by Region
7.2: Emerging Trends in the Global Connected Health Device Market
7.2.1: New Product Development
7.2.2: Mergers, Acquisitions, and Joint Ventures in the Global Connected Health Device Market           
7.2.3: Technology Development

8. Company Profiles of Leading Players
8.1: Apple Inc.
8.2: OMRON
8.3: Phillips Healthcare Company
8.4: Mckesson Corporation
8.5: GE Healthcare  
8.6: Drager Medical System
8.7: Medtronic’s Public Limited Company
8.8: Fitbit       
8.9: Aerotel Medical Systems
8.10: Boston Scientific Corporation
8.11: iHealth
.

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XX figures/charts and XX tables are provided in this 208 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the connected health device market. The major connected health device manufacturers are Omron, Philips, GE Healthcare, Apple, Fitbit, Medtronic plc, and others.
 
Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
 

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