Connected Health And Wellness Devices Market Analysis By Type (Healthcare IT, Health Information Exchange, Healthcare Analytics) By Product (Personal Medical Devices, Insulin Pump, BP Monitor, Portable GPS PERS, Glucose Monitor, Personal Pulse Oximeter, Digital Pedometer, GPS Sports Watch, Heart Rate Monitor, Sleep Quality Monitor, Software & Services, Online Subscription, Fitness & Wellness App, Meal Plan, Coaching Services) By End-Use And Segment Forecasts To 2024

Published: Aug, 2016 | Pages: 76 | Publisher: Grand View Research
Industry: Medical Devices | Report Format: Electronic (PDF)

The global connected health and wellness devices market is expected to reach USD 612.0 billion by 2024, 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 the market growth in the coming years. In addition, the increasing incidences of lifestyle-associated diseases requiring continuous health monitoring, which is expected to lead to an upsurge in the 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 are the factors further augmenting the market growth. 

Moreover, the rising demand for greater access to patient health information is the key factor contributing towards the market growth. In addition, the raised awareness levels as a result of 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 the development of advanced healthcare solutions coupled with the sufficient availability of funds is expected to boost the R&D investments in the connected health & wellness devices market. For instance, the 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 further fuel the industry growth in this region.

Further key findings from the study suggest:

The healthcare analytics segment is expected to show lucrative growth over the forecast period owing to the rising pressure on hospitals to curb the spiraling healthcare costs, the availability of big data analytics, and the penetration of electronic health record systems in medical settings. The growing need to improve value-based outcomes in the healthcare sector and the adoption of the patient-centric approach are the factors propelling the segment's growth.

The wellness product segment is anticipated to grow lucratively at a CAGR of 23.8% due to the availability of advanced products, such as GPS smart watches, which help in the monitoring of various parameters including physical activity, respiratory rate, and pulse rate and are additionally equipped with cloud connectivity.

In addition, the introduction of technologically advanced personal medical devices is expected to contribute towards the growth of the overall market in the next seven years. For instance, the advanced ECG monitors launched by Aerotel Medical Systems Ltd. in February 2014, is a 3G cellular module, which is incorporated to enable the seamless transmission of patient ECG records directly to the doctor's email account.

The individual consumer segment is anticipated to grow profitably to reach over USD 200 billion due to the increasing preference for personal medical devices so as to reduce hospital stays, costs of the treatments, and enable continuous health monitoring. In addition, the rise in the preference of geriatric patients towards home healthcare creates the demand for connected health & wellness devices over the forecast period

In 2015, North America held a substantial share of the overall market at over 38.6%, which is attributed to the presence of favorable reimbursement policies and a large population using wearable medical devices. Moreover, the following changes in the demographic trends including the growing geriatric population and unhealthy lifestyles are anticipated to drive the industry growth.

Asia Pacific is presumed to grow at the fastest CAGR of around 27.0% over the forecast period due to the increasing government initiatives targeting the improvisation of the healthcare infrastructure.

Some key players of the market include Omron Healthcare, Inc., McKesson Corporation, Philips Healthcare Company, GE Healthcare, Inc., Draeger Medical Systems, Inc., Fitbit, Inc., St. Jude Medical, Inc., Medtronic Plc, Aerotel Medical Systems Ltd., Boston Scientific Corporation, Body Media, Inc, Garmin International, Inc., Microlife Corporation, Masimo Corporation, AgaMatrix, Inc., and Apple, Inc.

These market players are focusing on the development of cost efficient & technologically advanced devices, which offer comfort to the users. New product development and strategic alliances including partnership agreements, promotional activities, and acquisitions are instrumental in keeping market rivalry high.

 For instance, in May 2016, Philips Healthcare announced an eHealth initiative, which offers care to patients with chronic diseases across the European region to create awareness amongst consumers and generate revenue. The aforementioned factors are expected to contribute towards the growth of the connected devices industry in the coming years.

 Table of Contents


Chapter 1 Research Methodology & Scope
                1.1 Region Wise Market Calculation
                    1.1.1 Region Wise Market: Base Estimates
                    1.1.2 Global Market: CAGR Calculation
                1.2 Region based segment share calculation
                1.3 List of Secondary Sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
Chapter 4 Market Variables, Trends& Scope
                4.1 Market segmentation & scope
                    4.1.1 Market Driver Analysis
                          4.1.1.1 High Prevalence of chronic diseases
                          4.1.1.2 Technological advancement
                          4.1.1.3 Rising Awareness levels
                    4.1.2 Market Restraint Analysis
                          4.1.2.1 Safety & security issues related to patient health information
                4.2 Penetration & growth prospect mapping
                4.3 Connected Health & Wellness Devices - SWOT Analysis, By Factor (political & legal, economic and technological)
                4.4 Industry Analysis - Porter's
Chapter 5 Market Categorization 1: Type Estimates & Trend Analysis
                5.1 Connected health & wellness devices market: Type movement analysis
                5.2 Healthcare IT
                    5.2.1 Healthcare IT market, 2013 - 2024 (USD Billion)
                5.3 Health information exchange
                    5.3.1 Health information exchange market, 2013 - 2024 (USD Billion)
                5.4 Healthcare analytics
                    5.4.1 Healthcare analytics market, 2013 - 2024 (USD Billion)
Chapter 6 Market Categorization 1: Product Estimates & Trend Analysis
                6.1 Connected health & wellness devices market: Product movement analysis
                6.2 Personal medical devices
                    6.2.1 Personal medical devices market, 2013 - 2024 (USD Billion)
                    6.2.2 Insulin pump market, 2013 - 2024 (USD Billion)
                    6.2.3 BP monitor market, 2013 - 2024 (USD Billion)
                    6.2.4 Portable GPS PERS market, 2013 - 2024 (USD Billion)
                    6.2.5 Glucose monitor market, 2013 - 2024 (USD Billion)
                    6.2.6 Personal plus oximeter market, 2013 - 2024 (USD Billion)
                    6.2.7 Smart pill dispenser market, 2013 - 2024 (USD Billion)
                    6.2.8 Personal ECG market, 2013 - 2024 (USD Billion)
                6.3 Wellness products
                    6.3.1 Wellness products market, 2013 - 2024 (USD Billion)
                    6.3.2 Digital pedometer market, 2013 - 2024 (USD Billion)
                    6.3.3 Body analyzer market, 2013 - 2024 (USD Billion)
                    6.3.4 GPS sports watch market, 2013 - 2024 (USD Billion)
                    6.3.5 Heart rate monitor market, 2013 - 2024 (USD Billion)
                    6.3.6 Sleep quality monitor market, 2013 - 2024 (USD Billion)
                6.4 Software & services
                    6.4.1 Software & services market, 2013 - 2024 (USD Billion)
                    6.4.2 Online subscription market, 2013 - 2024 (USD Billion)
                    6.4.3 Fitness & wellness app market, 2013 - 2024 (USD Billion)
                    6.4.4 Others market, 2013 - 2024 (USD Billion)
Chapter 7 Market Categorization 2: End-use Estimates & Trend Analysis
                7.1 Connected health & wellness devices market: End-use movement analysis
                7.2 Hospitals
                    7.2.1 Hospitals market, 2013 - 2024 (USD Billion)
                7.3 Individual customers
                    7.3.1 Individual customers market, 2013 - 2024 (USD Billion)
                7.4 Others
                    7.4.1 Others market, 2013 - 2024 (USD Billion)
Chapter 8 Market Categorization 3: Regional Estimates & Trend Analysis by Type, Product & End-use
                8.1 Connected health & wellness devices market share by region, 2013 & 2024
                8.2 North America
                    8.2.1 U.S.
                    8.2.2 Canada
                8.3 Europe
                    8.3.1 UK
                    8.3.2 Germany
                8.4 Asia Pacific
                    8.4.1 Japan
                    8.4.2 China
                    8.4.3 India
                8.5 Latin America
                    8.5.1 Mexico
                    8.5.2 Brazil
                8.6 MEA
                    8.6.1 South Africa
Chapter 9 Competitive Landscape
                9.1 Strategy framework
                9.2 Market participation categorization
                9.3 Company Profiles
                    9.3.1 Omron Healthcare, Inc.
                          9.3.1.1 Company Overview
                          9.3.1.2 Financial Performance
                          9.3.1.3 Product Benchmarking
                          9.3.1.4 Strategic Initiatives
                    9.3.2 McKesson Corporation
                          9.3.2.1 Company Overview
                          9.3.2.2 Financial Performance
                          9.3.2.3 Product Benchmarking
                          9.3.2.4 Strategic Initiatives
                    9.3.3 Philips Healthcare Company
                          9.3.3.1 Company Overview
                          9.3.3.2 Financial Performance
                          9.3.3.3 Product Benchmarking
                          9.3.3.4 Strategic Initiatives
                    9.3.4 GE Healthcare, Inc.
                          9.3.4.1 Company Overview
                          9.3.4.2 Financial Performance
                          9.3.4.3 Product Benchmarking
                          9.3.4.4 Strategic Initiatives
                    9.3.5 Draeger Medical Systems, Inc.
                          9.3.5.1 Company Overview
                          9.3.5.2 Financial Performance
                          9.3.5.3 Product Benchmarking
                          9.3.5.4 Strategic Initiatives
                    9.3.6 Fitbit, Inc.
                          9.3.6.1 Company Overview
                          9.3.6.2 Financial Performance
                          9.3.6.3 Product Benchmarking
                          9.3.6.4 Strategic Initiatives
                    9.3.7 St. Jude Medical, Inc.
                          9.3.7.1 Company Overview
                          9.3.7.2 Financial Performance
                          9.3.7.3 Product Benchmarking
                          9.3.7.4 Strategic Initiatives
                    9.3.8 Medtronic Plc
                          9.3.8.1 Company Overview
                          9.3.8.2 Financial Performance
                          9.3.8.3 Product Benchmarking
                          9.3.8.4 Strategic Initiatives
                     9.3.9 Aerotel Medical System Ltd.
                          9.3.9.1 Company Overview
                          9.3.9.2 Financial Performance
                          9.3.9.3 Product Benchmarking
                          9.3.9.4 Strategic Initiatives
                     9.3.10 Boston Scientific Corporation
                         9.3.10.1 Company Overview
                         9.3.10.2 Financial Performance
                         9.3.10.3 Product Benchmarking
                         9.3.10.4 Strategic Initiatives
                    9.3.11 Body Media, Inc.
                         9.3.11.1 Company Overview
                         9.3.11.2 Financial Performance
                         9.3.11.3 Product Benchmarking
                         9.3.11.4 Strategic Initiatives
                    9.3.12 Garmin International, Inc.
                         9.3.12.1 Company Overview
                         9.3.12.2 Financial Performance
                         9.3.12.3 Product Benchmarking
                         9.3.12.4 Strategic Initiatives
                    9.3.13 Microlife Corporation
                         9.3.13.1 Company Overview
                         9.3.13.2 Financial Performance
                         9.3.13.3 Product Benchmarking
                         9.3.13.4 Strategic Initiatives
                    9.3.14 Masimo Corporation
                         9.3.14.1 Company Overview
                         9.3.14.2 Financial Performance
                         9.3.14.3 Product Benchmarking
                         9.3.14.4 Strategic Initiatives
                    9.3.15 AgaMatrix, Inc.
                         9.3.15.1 Company Overview
                         9.3.15.2 Financial Performance
                         9.3.15.3 Product Benchmarking
                         9.3.15.4 Strategic Initiatives
                    9.3.16 Apple, Inc.
                         9.3.16.1 Company Overview
                         9.3.16.2 Financial Performance
                         9.3.16.3 Product Benchmarking
                         9.3.16.4 Strategic Initiatives

List of Tables


TABLE 1 Country share estimation
TABLE 2 North America connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 3 North America connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 4 North America personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 5 North America wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 6 North America software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 7 North America connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 8 U.S. connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 9 U.S. connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 10 U.S. personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 11 U.S. wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 12 U.S. software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 13 U.S. connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 14 Canada connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 15 Canada connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 16 Canada personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 17 Canada wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 18 Canada software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 19 Canada connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 20 Europe connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 21 Europe connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 22 Europe personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 23 Europe wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 24 Europe software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 25 Europe connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 26 UK connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 27 UK connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 28 UK personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 29 UK wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 30 UK software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 31 UK connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 32 Germany connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 33 Germany connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 34 Germany personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 35 Germany wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 36 Germany software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 37 Germany connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 38 Asia Pacific connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 39 Asia Pacific connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 40 Asia Pacific personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 41 Asia Pacific wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 42 Asia Pacific software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 43 Asia Pacific connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 44 Japan connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 45 Japan connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 46 Japan personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 47 Japan wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 48 Japan software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 49 Japan connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 50 China connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 51 China connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 52 China personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 53 China wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 54 China software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 55 China connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 56 India connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 57 India connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 58 India personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 59 India wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 60 India software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 61 India connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 62 Latin America connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 63 Latin America connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 64 Latin America personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 65 Latin America wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 66 Latin America software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 67 Latin America connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 68 Mexico connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 69 Mexico connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 70 Mexico personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 71 Mexico wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 72 Mexico software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 73 Mexico connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 74 Brazil connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 75 Brazil connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 76 Brazil personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 77 Brazil wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 78 Brazil software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 79 Brazil connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 80 MEA connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 81 MEA connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 82 MEA personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 83 MEA wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 84 MEA software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 85 MEA connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)
TABLE 86 South Africa connected health & wellness devices market, by type, 2013 - 2024 (USD Billion)
TABLE 87 South Africa connected health & wellness devices market, by product, 2013 - 2024 (USD Billion)
TABLE 88 South Africa personal medical devices market, by type, 2013 - 2024 (USD Billion)
TABLE 89 South Africa wellness products market, by type, 2013 - 2024 (USD Billion)
TABLE 90 South Africa software & services market, by type, 2013 - 2024 (USD Billion)
TABLE 91 South Africa connected health & wellness devices market, by end-use, 2013 - 2024 (USD Billion)