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Connected Healthcare Market trends – Growing demand for health monitoring devices and wearables.

By Biswas Debanjan

Posted on January 11, 2022

The Connected Healthcare market growth is driven by growing patient engagement with healthcare providers, growing usage of smartphones and wearable devices, availability of personalized healthcare solutions, and increasing demand for cost-effective healthcare.

Connected healthcare is an approach that is based on offering integrated patient-centred care. The system is enabling the healthcare sector to offer a streamlined networked environment for patient care. Clinical interoperability of healthcare IT significantly lowers costs associated with treatment and enhances efficiency by facilitating comprehensive exchange of health information between hospitals, care providers, and patients.

The increasing penetration of internet in developed and developing countries, rising government expenditure on healthcare research & development, expanding geriatric population pool, and surging adoption of AI-based healthcare devices & wearables among patients are the key factors supplementing connected healthcare market share.

However, lack of user data privacy, security concerns, and high risks of data loss on account of the rising incidence of cyberattacks may negatively impact industry growth in the upcoming years.

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Key Highlights From The Report-

The connected healthcare market growth is driven by growing patient engagement with healthcare providers, growing usage of smartphones and wearable devices, availability of personalized healthcare solutions, and increasing demand for cost-effective healthcare.
In the regional landscape, North America is forecast to dominate the global connected healthcare market in terms of share and size over the forecast period. The robust growth can be attributed to the presence of well-developed internet infrastructure, developed healthcare infrastructure, and renowned industry players in the region.
The Asia Pacific region is forecast to showcase the fastest growth rate, contributing significant revenue share to the connected healthcare market in the forecast period. The robust growth is a result of expanding patient pool, booming consumer electronics sector, increased internet penetration, and rising government expenditure on the healthcare sector in the region.
Key players operating in the global connected healthcare are Microsoft, Boston Scientific Corporation, Apple Inc., Cerner, Koninklijke Philips NV, GE Healthcare, Agamatrix, Inc., AirStrip Technologies, Athenahealth Inc., AliveCor Inc., Medtronics, Qualcomm, Honeywell Life Care Solutions, Persistent Systems, Allscripts, Vivify Health, Inc., and Sanofi, among others.
In February 2021, a global leader in health technology, Royal Philips, and the Dutch Association of Collaborating General Hospitals (a group of 28 hospitals) have entered a strategic partnership for five years in the connected care landscape. The alliance will encompass the self-management, monitoring, and observation of patients, both outside and inside hospitals, supported by advanced patient monitoring and population health management solutions offered by Philips.

For the purpose of this study, Emergen Research has segmented the Global Connected Healthcare Market on the basis of product type, function, application, end-user, and region-

Product Type Outlook (Revenue, USD Billion; 2017-2027)