Connected Health And Wellness Solutions Market (By Product: Personal Medical Devices, Wellness Products, Software & Services; By Function: Clinical Monitoring, Telehealth; By Application: Diagnosis & Treatment, Wellness and prevention, Monitoring; By End-use: Hospitals & Clinics, Home Monitoring) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global connected health and wellness solutions market size was valued at USD 34.30 billion in 2021, and is predicted to be worth around USD 186.10 billion by 2030, registering a CAGR of 20.0% during the forecast period 2022 to 2030.

Growth Factors

The demand for wearable medical devices and remote patient monitoring systems is anticipated to increase over the forecast period due to the shifting consumer preferences towards a healthier lifestyle thus driving the market growth. In addition, the increasing incidences of lifestyle-associated diseases requiring continuous health monitoring are expected to lead to an upsurge in the demand for connected health devices over the forecast period.

An increasing number of individuals afflicted with chronic illnesses create the demand for disease management & continuous patient monitoring tools, thereby boosting the demand for connected health devices. These devices are connected to electronic patient health records and provide access to the required health information during the course of the treatment. Technology is bringing down medical costs and increasing accessibility to more individuals. High-speed internet and favorable government initiatives have also contributed to the rapid growth of the market. Personalized healthcare can offer solutions to chronic health problems.

There is a growing trend of telemedicine services as governments around the globe restricted citizens to avoid movement outside their homes. As the whole concentration of hospitals is on treating COVID-19 patients, individuals are discovering new ways to monitor their health and only approach doctors in case of emergencies. Thus, the sales of smart wearables, specifically, smartwatches, have improved in the last few months. The pandemic could lead to a permanent development in the practice of numerous connected healthcare products and services.

 Report Coverage

By Product Analysis

The software & services segment accounted for the largest revenue share of more than 46.0% in 2021. The high growth is credited to the incorporation of the value-based healthcare delivery system. 

The rising number of online subscriptions and downloading of health information as a result of the increased health consciousness among individuals are additional factors expected to propel the segment growth in the next seven years.

The wellness products segment is expected to exhibit the fastest growth rate over the forecast period. Better health, possibly the most traditional type related to wellness, ranges beyond medicine and supplements to comprise consumer medical devices together with personal-health trackers are the factors driving the segment growth. 

By Application Analysis

On the basis of applications, the global market for connected health and wellness solutions has been further categorized into diagnosis & treatment, wellness and prevention, monitoring, and others. 

The wellness and prevention application segment accounted for the largest share of more than 42.5% of the global revenue in 2021. The segment is estimated to expand further at the fastest growth rate of around 20% retaining the dominant market position during the forecast timeline.

The increasing popularity of digital health trends can also support the overall growth of this segment. In January 2022, OMRON Healthcare, Inc. introduced remote patient monitoring services with advanced mobile apps and connected Blood Pressure (BP) monitors globally.

By Function Analysis

On the basis of functions, the global market has been further divided into clinical monitoring and telehealth. The telehealth function segment dominated the market in 2021. It accounted for the maximum share of more than 55.0% of the global revenue in the same year.

The segment is estimated to expand further at the fastest growth rate retaining its dominant position during the forecast period. This high growth can be attributed to the fact that the adoption of telehealth services is constantly increasing.

Rapidly developing healthcare infrastructure and a rise in healthcare spending in emerging economies are also among the major factors expected to propel the growth of this segment.

By End-user Analysis

On the basis of end users, the global market has been further segmented into home monitoring and hospitals & clinics. The hospitals & clinics segment dominated the market in 2021 and accounted for the largest share of more than 54.5% of the global revenue.

 Increased implementation of digital health technologies by hospitals in various countries across the globe is augmenting the growth of the hospitals & clinics segment. On the other hand, the home monitoring end-user segment is anticipated to register the fastest growth rate during the forecast period. 

By Regional Analysis

On the basis of geographies, the global market has been further divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In 2021, North America accounted for the largest share of more than 41.0% of the global revenue.

Asia Pacific is anticipated to grow at the fastest CAGR from 2022 to 2030. This growth can be attributed mainly to the rising demand for wearable medical devices and the increasing government assistance for the development of the healthcare infrastructure. In addition, the increasing penetration of telehealth, mHealth, and eHealth applications in the emerging economies, such as China and India, is further pushing the industry's growth forward. 

Key Players

• Omron Healthcare, Inc.

• Koninklijke Philips N.V.

• GE Healthcare

• Drägerwerk AG & Co. KGaA

• Fitbit LLC

• Medtronic

• Abbott

• Boston Scientific Corp.

• Garmin International, Inc.

• Apple, Inc.

• Masimo Corp.

• ResMed

• NXGN Management, LLC

Market Segmentation

• By Product 

  • Personal Medical Devices

    • Insulin Pump

    • BP Monitor

    • Glucose Monitor

    • Personal Pulse Oximeter

    • Others

  • Wellness Products

    • Digital Pedometer

    • Body Analyzer

    • Heart Rate Monitor

    • Sleep Quality Monitor

    • Others

  • Software & Services

    • Online Subscription

    • Fitness & Wellness App

    • Others

• By Function 

  • Clinical Monitoring

  • Telehealth

• By Application 

  • Diagnosis & Treatment

  • Wellness and prevention

  • Monitoring

  • Others

• By End-user 

  • Hospitals & Clinics

  • Home Monitoring

• Regional

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

The connected health and wellness solutions market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of connected health and wellness solutions market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global connected health and wellness solutions market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the connected health and wellness solutions market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted connected health and wellness solutions market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the connected health and wellness solutions capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of connected health and wellness solutions by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global connected health and wellness solutions market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major connected health and wellness solutions market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of connected health and wellness solutions market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the connected health and wellness solutions industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

connected health and wellness solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to connected health and wellness solutions market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of connected health and wellness solutions market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new connected health and wellness solutions market. These factors have benefited the growth of the global market for connected health and wellness solutions. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for connected health and wellness solutions. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of connected health and wellness solutions are as follows:

• History Year: 2019-2021

• Base Year: 2022

• Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2019-2022) and forecast (2022-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.