Global Connected Health and Wellness Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Connected Health and Wellness Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global connected health and wellness devices market report has been segmented on the basis of type, application, and region.
Global Connected Health and Wellness Devices Market: Overview
Adoption of connected health and wellness devices is high among consumers who are either fitness-focused or chronically ill. This device helps them to keep a track on the health and share data with medical practitioners when required.
Global Connected Health and Wellness Devices Market: Dynamics
Rising prevalence’s of chronic diseases across the globe, changing lifestyle pattern, increasing awareness among individual and spending related to health and wellness are major factors expected to drive growth of the global connected health and wellness devices market. In addition, inclination towards living a healthy lifestyle and availability of cost-effective solutions are among other factors expected to support market growth.
Rising geriatric population with various health problems across the globe such as diabetics, hypertension, etc. is resulting in rising adoption of continuous monitoring devices that aid in keeping track and share data with the doctor is another factor expected to support market growth.
In addition, rapid technological advancements in electronic devices resulting in miniaturization of products, increasing penetration of smartphones and tablets, coupled with availability of various health apps is another factor expected to support market growth to in the near future.
Manufacturers approach towards the development of healthcare bio-sensing wearables such as glucose sensors and digital blood pressure monitors and incorporation of a range of sensors in a smartphone that aid in monitoring physiological changes are some other factors expected to support market growth.
However, technical glitch and issues related to reliability, quality, privacy and security of data are major factors expected to hamper growth of the global connected health and wellness devices market. In addition, lack of healthcare infrastructure in order to facilitate the adoption of advanced medical devices is another factor expected to challenge market growth.
Technological advancements and R&D activities by major players for the development of advanced devices, coupled with innovative product offerings is expected to create new revenue opportunities for players operating in the target market over the forecast period. In addition, increasing expansion activities by major players through partnership and agreements for product development is expected to further support market growth.
Global Connected Health and Wellness Devices Market: Region
The market in North America is expected to account for a major revenue share in the global connected health and wellness devices market. this can be attributed to well-developed healthcare infrastructure in order to support R&D activities and facilitate the adoption of the medical devices and the presence of major players operating in countries in this region. In addition, growing strategic merger and acquisition activities between regional and international players are expected to further support market growth in this region. In 2017, according to Consumer Electronics Association, overall personal health and wellness products sold in the US were 64.7 Mn out of that 20.6 Mn products wellness products and 44.1 Mn were personal health products.
The market in Asia Pacific is expected to witness faster growth, owning high adoption of smartphones, and low-cost medical devices and applications offerings from regional players operating in emerging economies in this region.
The markets in Latin America and Middle East & Africa are expected to witness moderate growth over the forecast period.
Global Connected Health and Wellness Devices Market Segmentation
Segmentation by type
- Personal Medical Devices
- Wellness Products
- Software and Services
Segmentation by Application
- Individual Customers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Fitbit, Inc.
- Omron Healthcare, Inc.
- GE Healthcare, Inc.
- McKesson Corporation
- Apple, Inc.
- Draeger Medical Systems, Inc.
- Masimo Corporation
- Philips Healthcare Company
- Jude Medical, Inc.
- Garmin International, Inc.
- Aerotel Medical Systems Ltd.
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