Connected Healthcare Market size worth $ 85,427.95 Million, Globally, by 2028 at 25.01% CAGR: Verified Market Research®

The growing geriatric population with chronic disease coupled with the digital revolution and the increasing government expenditure on the healthcare sector are expected to drive the Connected Healthcare Market during the forecasted period.

Jersey City, New Jersey, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Connected Healthcare Market” By Type (Connected Health Personal Medical Devices, Connected Health Wellness Devices), By End-Use (Hospitals And Clinic Monitoring, Home Monitoring), and By Geography. According to Verified Market Research, the Global Connected Healthcare Market size was valued at USD 14,331.07 Million in 2020 and is projected to reach USD 85,427.95 Million by 2028, growing at a CAGR of 25.01% from 2021 to 2028.

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Global Connected Healthcare Market Overview

The Connected Healthcare Market is growing at a robust rate mainly due to the increasing penetration of the internet in healthcare functions. Internet is used in smartphones, tablets, and wearable devices to promote the transfer, storage, and display of clinical data wirelessly. Increasing demand for the internet in the healthcare operation at an affordable cost and also improves the diagnostics, patient experience, and disease management with less error is pushing the market growth. The growth of the wearable technology adoption for accurate capturing, monitoring, analyzing the physiological data for enhancing health and healthcare outcome. A growing shift towards predictive healthcare is pushing the demand for IoT-enabled wearable devices for monitoring patient health through home care. Various technology and consumer electronics manufacturers such as Apple Inc., Samsung, Omron Corporation, and others are introducing various wearable watches, bands, etc. to promote monitoring of health status in real-time.

The market is expected to experience strong growth in the years to follow owing to the rising popularity of telehealth. Telehealth includes medical counseling, physical and occupational therapy, home health, and chronic disease monitoring and management. The growth of the market is further driven by the health crisis induced by the COVID-19 has shown a sharp increase in remotely monitored technologies such as telehealth, telemedicine, etc. Increasing access to healthcare, limiting the risk of infection through no exposure to the medical professions, and preserving scarce supplies of personal protective equipment were some of the benefits offered by telehealth in the COVID pandemic. The growing technological landscape in the healthcare sector is promoting the use of AI, Machine Learning, and Deep Learning in the medical field for understanding the accurate needs of healthcare professionals.

Key Development

  • Microsoft has acquired Nuance, a speech-recognition firm that grasps the specialized language of medicine—tech that won’t be easy for others to replicate.
  • IBM Watson Health has announced the latest release of its diagnostic viewer and image exchange platform, IBM iConnect Access to allow healthcare providers to aggregate, exchange, and access medical imaging data across the enterprise and extended care team.

Key Players

The major players in the market are GE Healthcare, Accenture Plc., SAP SE, Boston Scientific Corporation, IBM Corporation, Oracle Corporation, Microsoft Corporation, Airstrip Technology, Medtronic, and Allscripts.

Verified Market Research has segmented the Global Connected Healthcare Market On the basis of Type, End-Use, and Geography.

  • Connected Healthcare Market, By Type
    • Connected Health Personal Medical Devices
    • Connected Health Wellness Devices

  • Connected Healthcare Market, By End-Use
    • Hospitals & Clinic Monitoring
    • Home Monitoring
    • Others

  • Connected Healthcare Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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