Connected Healthcare Market Share, Growth Factors, Future Trends, and Demand by Forecast to 2027

The purpose of connected healthcare solutions is to consolidate information from many different aspects of a person’s life to give a complete picture of his/her health that includes biological, genetic, lifestyle, medical, and sentiment/mood data. This information is beneficial for personalized healthcare programs. Market Research Future (MRFR) has published a research report regarding global The connected healthcare market share shall capture a fantastic growth rate of 30.27% between 2020 and 2027, expects Market Research Future (MRFR). The market size will be USD 232.87 Million by the end of 2027.

Analyzing the market structure, this report offers insights about factors affecting the market growth. Evaluating market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R & D), and strategic alliances. Being a new model for healthcare delivery, connected healthcare can deliver healthcare services remotely. It ensures the best location, best doctor, and most relevant & efficient treatment methods at nominal costs for patients.

The regional segmentation of the global connected healthcare market segments the market into continent-based regional markets known as North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). Among all regional markets, North America holds the largest market share in the global market, and it has been envisaged to grow at a CAGR of 28.75% by the end of the forecast period. In terms of cash, it is expected to be worth US $ 37.38 bn. North America has maximum advanced medical facilities as well as technology. In this region, the strongest economies that are the key country-specific markets are the United States of America (USA) and Canada.

Europe is the second largest regional market that is expected to grow at a CAGR of 30.48% by the end of forecast period. Due to advanced technology and the availability of better healthcare facilities, Western Europe is a greater market than Eastern Europe. The most important country-specific markets in Europe are Germany, France, Spain, Italy, and the United Kingdom (UK), followed by the rest of Western Europe, and then by Eastern Europe. 

Asia Pacific region has been anticipated to rise the fastest growing regional market during the forecast period. By the end of the forecast period, this regional market is expected to be worth US $ 24.07 bn. The primary country-specific markets in this region are Australia, China, India, Japan, and South Korea. 

The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, poor healthcare facilities, and healthcare not considered a priority by most governments.

The global connected healthcare market outlook has been segmented on the basis of application, type, and lastly, region. Based on application, this market has been segmented into diagnosis & treatment applications, education & awareness applications, connected healthcare solutions, healthcare management applications, monitoring applications, wellness & prevention application, and others. By type, the market gets segmented in this report into E-prescription, M-health devices, and M-health services. M-health devices have sub-segmented into connected drug delivery systems, medical devices, and wearable devices. M-health services have been sub-segmented into healthcare providers & pharmaceuticals, mobile health apps & content solution, and network & services/ mobile operators. Among types, M-health services segment is expected to hold the largest market share during the forecast period.   

Key Players

The key players in the global connected healthcare market include Agamatrix, Inc. (USA), Airstrip Technology (USA), AliveCor Inc. (Australia), Allscripts (USA), Athenahealth Inc. (USA), Boston Scientific Corporation (USA), Cerner (USA), GE Healthcare (UK), Koninklijke Philips N.V. (Netherlands), Medtronics (Ireland), and Qualcomm (USA).

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