DUBLIN–(BUSINESS WIRE)–Global Connected Health and Wellness Solutions Market Size, Share and Trend Analysis by Product, by Personal Medical Device Type, by Product Type User, by Application, by Regional Outlook and Forecast, 2021-2027 report has been added to from ResearchAndMarkets.com offer.
The global connected health and wellness solutions market size is expected to reach USD 104.8 billion by 2027, with the market growing at 19.4% CAGR during the forecast period.
Connected healthcare is a type of health management system that uses technology to deliver medical services to patients remotely. It includes the use of mobile health equipment, services and electronic prescriptions. Factors such as increasing healthcare research and interoperability, as well as digital data management along with active government support, are all helping to increase the use of this solution.
Many consumers now value personalization more than data privacy. Natural and clean products are becoming more and more popular. Digital and social media platforms are growing in importance. Additionally, health-conscious consumers are increasingly using connected wearables and mobile apps to track their progress, and they expect their doctors and insurers to provide them with personalized wellness advice, educational content and treatment reminders in a timely and proactive manner. way. Therefore, companies need to develop a global wellness platform that collects data from a wide range of devices and generates actionable insights into each person’s unique behavior pattern.
As the number of people with chronic conditions grows, so does the need for technology for disease management and ongoing patient monitoring. Therefore, the demand for connected health and wellness equipment is increasing inversely. These devices are linked to patient data and electronic health records and allow patients to access the information they need during treatment. In addition, technological developments are also reducing the costs of medical services and equipment and making health care more accessible to people. The tremendous market growth has also been aided by high-speed internet and supportive government programs.
Market Growth Factors:
The emerging trend of blockchain technology
Data security remains an issue in various businesses, including healthcare. The healthcare industry is embracing blockchain technology as a way to more efficiently and securely manage, store, and retrieve patient records. Additionally, according to an article by the blockchain council, blockchain-based technology protects the identity of the patient and keeps track of their origin. Additionally, Medicalchain unveiled its telemedicine website, MyClinic.com, in May 2018, where users can receive medical consultations via video and pay with MedTokens.
Penetration of connected health and wellness technology on smartphones and wearables
The popularity of smartphones as well as smart wearable devices has grown tremendously as technology continues to revolutionize. Patient care and patient demand to monitor their own health has increased, bringing a new range of benefits to the market. Trackers, glucometers, and blood pressure monitors are examples of wearable devices that can be used to track activities such as heart rate, calories burned, and distance traveled. Since patients can assess self-medicine indicators with these gadgets, expenses for regular checkups are also significantly reduced.
Marketing Restriction Factor:
Increasing patient engagement
Patients who are dedicated to achieving their own health goals and saving money while being healthier. Using telemedicine to engage patients can help them keep appointments and care schedules. Increased engagement activities can also help healthcare professionals encourage their patients to make healthier lifestyle choices, which can help reduce the risk of various chronic disorders and diseases like high blood pressure, obesity and diabetes.
Virtual visits not only reassure patients that their physicians are available and active in their care, but they also allow them to ask questions, report early indications, and schedule follow-up appointments to ensure that they are on the right track.
Market Segments Covered in the Report:
By product
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Personal medical devices
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Insulin pumps
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BP monitor
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blood glucose monitor
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Personal Pulse Oximeter
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Others
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wellness products
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digital pedometer
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heart rate monitor
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body analyzer
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sleep quality monitor
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Others
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Software and services
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Fitness and wellness app
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Online subscription
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Others
By function
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Telehealth
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Clinical monitoring
Per end user
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Hospitals & Clinics
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home monitoring
By app
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Well-being & Prevention
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Monitor
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Diagnosis and treatment
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Others
By geography
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North America
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WE
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Canada
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Mexico
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Rest of North America
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Europe
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Germany
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UK
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France
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Russia
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Spain
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Italy
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The rest of Europe
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Asia Pacific
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China
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Japan
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India
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South Korea
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Singapore
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Malaysia
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Rest of Asia-Pacific
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LAMEA
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Brazil
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Argentina
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United Arab Emirates
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Saudi Arabia
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South Africa
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Nigeria
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Rest of LAMEA
Main market players
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Abbott Laboratories
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Apple Inc.
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Garmin Ltd.
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Boston Scientific Society
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General Electric (GE) Co.
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Dragerwerk AG & Co. KGaA
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Medtronic APIs
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Koninklijke Philips NV
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Omron Company
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Google LLC
For more information about this report visit https://www.researchandmarkets.com/r/kncsez
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