Product Code: 978-1-68038-998-2
Connected Health And Wellness Solutions Market Growth & Trends:
The global connected health and wellness solutions market is anticipated to reach USD 195.26 billion by 2030 and is projected to grow at a CAGR of 20.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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 market growth in the coming years. In addition, the increasing incidences of lifestyle-associated diseases require continuous health monitoring, which is expected to increase demand for connected health devices over the forecast period. In addition, the advantages associated with its usage and the availability of advanced products, such as remote sensors, adapters, and connected mobile communication devices, further augment the market growth.
In addition, the advancement in technology has fueled the market growth significantly. For instance, in March 2024, Garmin Malaysia unveiled the HRM-Fit, a new heart rate monitors specifically designed for women. With a clip-on design, it can be easily attached to medium- and high-support sports bras for optimal comfort, ensuring precise tracking of real-time heart rate and workout information. The increasing adoption of telemedicine and remote monitoring solutions is also driving the market. In addition, the rise of artificial intelligence (AI) and machine learning (ML) is enabling personalized health and wellness services, which is expected to further boost the market. The growth of the connected health and wellness solutions market is also driven by the increasing need for preventive healthcare, rising healthcare costs, and growing awareness of self-care and wellness among individuals.
Moreover, the rising demand for greater access to patient health information is the key factor contributing to the market growth. In addition, the raised awareness levels due to the supportive initiatives undertaken by government and non-profit organizations, such as Healthcare Information and Management Systems Society (HIMSS), are anticipated to serve this industry with future growth opportunities. The rising emphasis on developing advanced healthcare solutions coupled with the sufficient availability of funds is expected to boost the market growth. The connected health & wellness devices market is witnessing a surge in R&D investments. For instance, government organizations, such as Healthcare Research and Quality (AHRQ), offer funds to expand the health information systems in the U.S., which is expected to fuel the industry growth in this region further.
Furthermore the market is expected to grow significantly due to increased investment in digital health technologies, particularly in the areas of telemedicine, wearable devices, and mobile health. For instance, in February 2024, HealthSnap and Chronic Care Management solutions for healthcare providers secured a significant funding round of USD 25 million. The Series B financing was led by Sands Capital, with new investors Comcast Ventures and Florida Opportunity Fund participating in the round. In addition, government initiatives and private investments are also fueling the growth of this market.
Connected Health And Wellness Solutions Market Report Highlights:
- Software & services dominated the product segment in 2023, owing to associated benefits such as rising online subscriptions and downloading health information because of the augmented health consciousness amongst people
- The wellness and prevention category in the application segment held the largest share in 2023. This can be attributed to an increase in healthcare ailments, physical exercise awareness campaigns, awareness concerning healthier lifestyles, and technological advancement in products
- Telehealth dominated the function segment in 2023, owing to its growing usage and adoption. In addition, the COVID-19 pandemic, boosted the adoption rate of telehealth technology at a larger scale among providers. The rising importance of continuous patient monitoring for older adults and the introduction of wearable remote monitoring devices are expected to propel market growth
- Hospitals & clinics dominated the end-user segment of the market in 2023, owing to the increased implementation of digital health technologies by these settings. Moreover, hospitals & clinics are investing in remote patient monitoring technologies as part of a value-based care model, further broadening the segment's market growth. The home monitoring category in the end-user segment is anticipated to show the fastest growth throughout the forecast period
- North America was the largest market in 2023. The Asia Pacific region is anticipated to register rapid growth in coming years owing to increasing government assistance, increasing patient awareness levels, and improving healthcare infrastructure
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Segment Definitions
- 1.2.1. Product
- 1.2.2. Function
- 1.2.3. Application
- 1.2.4. End Use
- 1.2.5. Regional Scope
- 1.2.6. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.4.5. Details of primary research
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Approach 1: Commodity flow approach
- 1.7.3. Volume price analysis (Model 2)
- 1.7.4. Approach 2: Volume price analysis
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product outlook
- 2.2.2. Function outlook
- 2.2.3. Application outlook
- 2.2.4. End use outlook
- 2.3. Regional outlook
- 2.4. Competitive Insights
Chapter 3. Connected Health And Wellness Solutions Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.3. Connected Health And Wellness Solutions Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of suppliers
- 3.3.1.2. Bargaining power of buyers
- 3.3.1.3. Threat of substitutes
- 3.3.1.4. Threat of new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. Connected Health And Wellness Solutions Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Connected Health And Wellness Solutions Market: Product Movement Analysis
- 4.3. Connected Health And Wellness Solutions Market by Product Outlook (USD Million)
- 4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.5. Personal Medical Devices
- 4.5.1. Personal Medical Devices Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.2. Insulin Pump
- 4.5.2.1. Insulin Pump Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.3. BP Monitor
- 4.5.3.1. BP Monitor Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.4. Glucose Monitor
- 4.5.4.1. Glucose Monitor Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.5. Personal Pulse Oximeter
- 4.5.5.1. Personal Pulse Oximeter Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.6. Others
- 4.5.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Wellness Products
- 4.6.1. Wellness Products Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6.2. Digital Pedometer
- 4.6.2.1. Digital Pedometer Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6.3. Body Analyzer
- 4.6.3.1. Body Analyzer Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6.4. Heart rate monitor
- 4.6.4.1. Heart Rate Monitor Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6.5. Sleep Quality Monitor
- 4.6.5.1. Sleep Quality Monitor Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6.6. Others
- 4.6.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7. Software & Services
- 4.7.1. Software & Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7.2. Online Subscription
- 4.7.2.1. Online Subscription Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7.3. Fitness & Wellness App
- 4.7.3.1. Fitness & Wellness App Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7.4. Others
- 4.7.4.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Connected Health And Wellness Solutions Market: Function Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Connected Health And Wellness Solutions Market: Function Movement Analysis
- 5.3. Connected Health And Wellness Solutions Market by Function Outlook (USD Million)
- 5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.5. Clinical Monitoring
- 5.5.1. Clinical Monitoring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Telehealth
- 5.6.1. Telehealth Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Connected Health And Wellness Solutions Market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Connected Health And Wellness Solutions Market: Application Movement Analysis
- 6.3. Connected Health And Wellness Solutions Market by Application Outlook (USD Million)
- 6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.5. Diagnosis & Treatment
- 6.5.1. Diagnosis & Treatment Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Wellness and Prevention
- 6.6.1. Wellness and Prevention Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7. Monitoring
- 6.7.1. Monitoring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8. Others
- 6.8.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Connected Health And Wellness Solutions Market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Connected Health And Wellness Solutions Market: End Use Movement Analysis
- 7.3. Connected Health And Wellness Solutions Market by End Use Outlook (USD Million)
- 7.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 7.5. Home Monitoring
- 7.5.1. Home Monitoring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. Hospitals & Clinics
- 7.6.1. Hospitals & Clinics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Connected Health And Wellness Solutions Market: Regional Estimates & Trend Analysis
- 8.1. Regional Dashboard
- 8.2. Regional Connected Health And Wellness Solutions Market movement analysis
- 8.3. Connected Health And Wellness Solutions Market: Regional Estimates & Trend Analysis by Product Type, Material & End-use
- 8.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 8.5. North America
- 8.5.1. North America Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.2. U.S.
- 8.5.2.1. Key Country Dynamics
- 8.5.2.2. Competitive Scenario
- 8.5.2.3. Regulatory Framework
- 8.5.2.4. Reimbursement scenario
- 8.5.2.5. U.S. Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.3. Canada
- 8.5.3.1. Key Country Dynamics
- 8.5.3.2. Competitive Scenario
- 8.5.3.3. Regulatory Framework
- 8.5.3.4. Reimbursement scenario
- 8.5.3.5. Canada Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.4. Mexico
- 8.5.4.1. Key Country Dynamics
- 8.5.4.2. Competitive Scenario
- 8.5.4.3. Regulatory Framework
- 8.5.4.4. Reimbursement scenario
- 8.5.4.5. Mexico Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6. Europe
- 8.6.6. Europe Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.7. UK
- 8.6.7.1. Key Country Dynamics
- 8.6.7.2. Competitive Scenario
- 8.6.7.3. Regulatory Framework
- 8.6.7.4. Reimbursement scenario
- 8.6.7.5. UK Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.8. Germany
- 8.6.8.1. Key Country Dynamics
- 8.6.8.2. Competitive Scenario
- 8.6.8.3. Regulatory Framework
- 8.6.8.4. Reimbursement scenario
- 8.6.8.5. Germany Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.9. France
- 8.6.9.1. Key Country Dynamics
- 8.6.9.2. Competitive Scenario
- 8.6.9.3. Regulatory Framework
- 8.6.9.4. Reimbursement scenario
- 8.6.9.5. France Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.10. Italy
- 8.6.10.1. Key Country Dynamics
- 8.6.10.2. Competitive Scenario
- 8.6.10.3. Regulatory Framework
- 8.6.10.4. Reimbursement scenario
- 8.6.10.5. Italy Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.11. Spain
- 8.6.11.1. Key Country Dynamics
- 8.6.11.2. Competitive Scenario
- 8.6.11.3. Regulatory Framework
- 8.6.11.4. Reimbursement scenario
- 8.6.11.5. Spain Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.12. Sweden
- 8.6.12.1. Key Country Dynamics
- 8.6.12.2. Competitive Scenario
- 8.6.12.3. Regulatory Framework
- 8.6.12.4. Reimbursement scenario
- 8.6.12.5. Sweden Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.13. Denmark
- 8.6.13.1. Key Country Dynamics
- 8.6.13.2. Competitive Scenario
- 8.6.13.3. Regulatory Framework
- 8.6.13.4. Reimbursement scenario
- 8.6.13.5. Denmark Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.6.14. Norway
- 8.6.14.1. Key Country Dynamics
- 8.6.14.2. Competitive Scenario
- 8.6.14.3. Regulatory Framework
- 8.6.14.4. Reimbursement scenario
- 8.6.14.5. Norway Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7. Asia Pacific
- 8.7.1. Asia Pacific Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7.2. Japan
- 8.7.2.1. Key Country Dynamics
- 8.7.2.2. Competitive Scenario
- 8.7.2.3. Regulatory Framework
- 8.7.2.4. Reimbursement scenario
- 8.7.2.5. Japan Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7.3. China
- 8.7.3.1. Key Country Dynamics
- 8.7.3.2. Competitive Scenario
- 8.7.3.3. Regulatory Framework
- 8.7.3.4. Reimbursement scenario
- 8.7.3.5. China Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7.4. India
- 8.7.4.1. Key Country Dynamics
- 8.7.4.2. Competitive Scenario
- 8.7.4.3. Regulatory Framework
- 8.7.4.4. Reimbursement scenario
- 8.7.4.5. India Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7.5. South Korea
- 8.7.5.1. Key Country Dynamics
- 8.7.5.2. Competitive Scenario
- 8.7.5.3. Regulatory Framework
- 8.7.5.4. Reimbursement scenario
- 8.7.5.5. South Korea Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7.6. Australia
- 8.7.6.1. Key Country Dynamics
- 8.7.6.2. Competitive Scenario
- 8.7.6.3. Regulatory Framework
- 8.7.6.4. Reimbursement scenario
- 8.7.6.5. Australia Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.7.7. Thailand
- 8.7.7.1. Key Country Dynamics
- 8.7.7.2. Competitive Scenario
- 8.7.7.3. Regulatory Framework
- 8.7.7.4. Reimbursement scenario
- 8.7.7.5. Thailand Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.8. Latin America
- 8.8.1. Latin America Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.8.2. Brazil
- 8.8.2.1. Key Country Dynamics
- 8.8.2.2. Competitive Scenario
- 8.8.2.3. Regulatory Framework
- 8.8.2.4. Reimbursement scenario
- 8.8.2.5. Brazil Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.8.3. Argentina
- 8.8.3.1. Key Country Dynamics
- 8.8.3.2. Competitive Scenario
- 8.8.3.3. Regulatory Framework
- 8.8.3.4. Reimbursement scenario
- 8.9.3.5. Argentina Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.9. Middle East & Africa
- 8.9.1. Middle East & Africa Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.9.2. South Africa
- 8.9.2.1. Key Country Dynamics
- 8.9.2.2. Competitive Scenario
- 8.9.2.3. Regulatory Framework
- 8.9.2.4. Reimbursement scenario
- 8.9.2.5. South Africa Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.9.3. Saudi Arabia
- 8.9.3.1. Key Country Dynamics
- 8.9.3.2. Competitive Scenario
- 8.9.3.3. Regulatory Framework
- 8.9.3.4. Reimbursement scenario
- 8.9.3.5. Saudi Arabia Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.9.4. UAE
- 8.9.4.1. Key Country Dynamics
- 8.9.4.2. Competitive Scenario
- 8.9.4.3. Regulatory Framework
- 8.9.4.4. Reimbursement scenario
- 8.9.4.5. UAE Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.9.5. Kuwait
- 8.9.5.1. Key Country Dynamics
- 8.9.5.2. Competitive Scenario
- 8.9.5.3. Regulatory Framework
- 8.9.5.4. Reimbursement scenario
- 8.9.5.5. Kuwait Connected Health And Wellness Solutions Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Market Participant Categorization
- 9.2. Key Company Profiles
- 9.2.1. NXGN Management, LLC.
- 9.2.2. OMRON Healthcare, Inc.
- 9.2.2.1. Company overview
- 9.2.2.2. Financial performance
- 9.2.2.3. Product benchmarking
- 9.2.2.4. Strategic initiatives
- 9.2.3. Koninklijke Philips N.V.
- 9.2.3.1. Company overview
- 9.2.3.2. Financial performance
- 9.2.3.3. Product benchmarking
- 9.2.3.4. Strategic initiatives
- 9.2.4. GE Healthcare
- 9.2.4.1. Company overview
- 9.2.4.2. Financial performance
- 9.2.4.3. Product benchmarking
- 9.2.4.4. Strategic initiatives
- 9.2.5. Dragerwerk AG & Co. KGaA
- 9.2.5.1. Company overview
- 9.2.5.2. Financial performance
- 9.2.5.3. Product benchmarking
- 9.2.5.4. Strategic initiatives
- 9.2.6. Fitbit LLC
- 9.2.6.1. Company overview
- 9.2.6.2. Financial performance
- 9.2.6.3. Product benchmarking
- 9.2.6.4. Strategic initiatives
- 9.2.7. Medtronic
- 9.2.7.1. Company overview
- 9.2.7.2. Financial performance
- 9.2.7.3. Product benchmarking
- 9.2.7.4. Strategic initiatives
- 9.2.8. Abbott
- 9.2.8.1. Company overview
- 9.2.8.2. Financial performance
- 9.2.8.3. Product benchmarking
- 9.2.8.4. Strategic initiatives
- 9.2.9. Boston Scientific Corporation
- 9.2.9.1. Company overview
- 9.2.9.2. Financial performance
- 9.2.9.3. Product benchmarking
- 9.2.9.4. Strategic initiatives
- 9.2.10. Garmin International, Inc.
- 9.2.10.1. Company overview
- 9.2.10.2. Financial performance
- 9.2.10.3. Product benchmarking
- 9.2.10.4. Strategic initiatives
- 9.2.11. Apple, Inc.
- 9.2.11.1. Company overview
- 9.2.11.2. Financial performance
- 9.2.11.3. Product benchmarking
- 9.2.11.4. Strategic initiatives
- 9.2.12. Masimo Corporation
- 9.2.12.1. Company overview
- 9.2.12.2. Financial performance
- 9.2.12.3. Product benchmarking
- 9.2.12.4. Strategic initiatives
- 9.2.13. ResMed
- 9.2.13.1. Company overview
- 9.2.13.2. Financial performance
- 9.2.13.3. Product benchmarking
- 9.2.13.4. Strategic initiatives