Lucintel Forecasts Connected Health Device Market To Reach $78 Billion By 2028

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According to the recent study the Connected Health Device Market is projected to reach an estimated $78 billion by 2028 from $25 billion in 2022, at a CAGR of 21% from 2023 to 2028. Growth in this market is primarily driven by increasing adoption of IT in healthcare, increasing healthcare cost, and need of easy and reliable patient monitoring system for chronic diseases along with the growing awareness of health and fitness.
Browse XX figures/charts and XX tables in this 208-page report to understand trends, opportunities and forecast in connected health device market by product type, (personal medical devices [insulin pumps, BP monitors, portable GPS PERS, glucose monitors, personal plus oximeters, and others] and wellness devices [digital pedometers, body analyzers, GPS sports watches, heart rate monitors, and others]), end use (home monitoring and hospitals/clinics), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Wellness device market is expected to remain the largest segment during the forecast period.”
Based on product type, the connected health device market is segmented ...
... into personal medical devices [insulin pumps, BP monitors, portable GPS PERS, glucose monitors, personal plus oximeters, and others] and wellness devices [digital pedometers, body analyzers, GPS sports watches, heart rate monitors, and others]. Lucintel forecasts that the wellness device market is expected to remain the largest segment.
“Within the connected health device market, the hospitals/clinics segment is expected to remain the largest end use.”
Based on end use the hospitals/clinics segment is expected to witness the highest growth over the forecast period.
“Asia pacific will dominate the connected health device market in near future.”
APAC is expected to be the largest market and witness the highest growth rate during the forecast period due to rapidly growing aging population, increasing chronic diseases, rising disposable income, and high adoption of smart phones.
Major players of connected health device market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Apple Inc., Medtronics, Fitbit, Omron, Philips Healthcare Company are among the major connected health device providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056