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What Is the Current and Projected Market Size of the Connected Health Personal Medical Devices Industry?

The market size for connected health personal medical devices has seen fast-paced expansion in the last few years. It is projected to escalate from $39.67 billion in 2024 to $45.71 billion in 2025, indicating a compound annual growth rate (CAGR) of 15.2%. The surge in growth during the historic period is due to the increase in occurrences of chronic diseases, a swelling elderly population, enhanced smartphone usage, a rise in health app acceptance, and the need for remote patient surveillance.

The market size for personal medical devices within the connected health sector is projected to experience significant growth in the coming years. It is estimated to reach an impressive $80 billion by 2029, with a compound annual growth rate (CAGR) of 15.0%. The growth during the forecasted timeline can be credited to the proliferation of telehealth services, increasing healthcare expenses promoting home-based care, the necessity for real-time health information, the deployment of the 5G network, regulatory backing for digital healthcare, and the heightened focus of consumers on tracking their wellness. Key trends during this forecast period encompass the miniaturization of health gadgets, bespoke health monitoring, subscription health platforms, artificial intelligence-enabled health analytics, and the storage of data on the cloud.

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#Which Factors Are Currently Driving The Growth Of The Connected Health Personal Medical Devices Market?

The escalation in chronic disease instances is anticipated to bolster the expansion of the connected health personal medical devices market. Chronic diseases, which evolve gradually and endure for a long duration, often need consistent medical care. Such diseases are increasing due to passive lifestyles where lack of physical movement and extended sitting periods heighten the likelihood of conditions like heart diseases and diabetes. Connected health personal medical devices facilitate tracking of these chronic diseases in real-time, making them preferable for managing conditions like hypertension and diabetes at home. The devices obviate the need for repetitive clinical visits by supplying constant data and instant alerts, enhancing patient results and comfort. For instance, The National Health Service, a UK-based governmental agency stated in June 2024, that diagnoses of non-diabetic hyperglycemia or pre-diabetes (a condition with raised blood sugar levels, but not to the extent constituting diabetes) registered with a general practitioner (GP), surged by 18% from 3,065,825 cases in 2022 to 3,615,330 individuals in 2023. Consequently, the escalating occurrence of chronic diseases propels the growth of the market for connected health personal medical devices.

How Is The Global Connected Health Personal Medical Devices Market Structured In Terms Of Segments?

The connected health personal medical devices market covered in this report is segmented –

1) By Type: Healthcare IT, Health Information Exchange, Healthcare Analytics

2) By Product: Insulin Pumps, Blood Pressure (BP) Monitors, Portable Global Positioning System (GPS) Personal Emergency Response System (PERS), Glucose Monitor, Personal Pulse Oximeter, Smart Pill Dispenser, Personal Electrocardiogram (ECG)

3) By Connectivity: Bluetooth, Wi-Fi, Cellular, Other Connectivities

4) By Application: Chronic Disease Management, Fitness And Wellness, Home Healthcare, Other Applications

5) By End User: Hospitals, Clinics, Homecare Settings, Other End Users

Subsegments:

1) By Healthcare IT: Electronic Health Records (EHR), Telemedicine Solutions, Mobile Health (mHealth) Applications, E-Prescribing Systems

2) By Health Information Exchange: Directed Exchange, Query-Based Exchange, Consumer-Mediated Exchange, Cloud-Based Health Information Platforms

3) By Healthcare Analytics: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Real-Time Analytics

What Trends Are Currently Influencing Growth In The Connected Health Personal Medical Devices Market?

Prominent firms in the connected health personal medical devices market are concentrating on developing innovative products like advanced in-home diagnostic systems, to enhance preventive healthcare and offer more comfort to the user. In-home diagnostic systems are applied as medical tools and devices that allow people to track, test, and control their health conditions from their homes without making a trip to a healthcare center. For example, in January 2023, Withings, a health tech firm founded in France, introduced U-Scan. This system, designed to be hands-free and fits inside a toilet bowl, offers in-home urine analysis. It involves the use of a changeable cartridge capable of executing daily tests for a period up to three months, examining crucial hydration and nutritional biomarkers. The gadget syncs with a mobile app, supplying users with instant data and tailored health suggestions. The U-Scan initiative strives to make regular health monitoring simple and non-invasive, thereby encouraging proactive wellness management.

Who Are The Main Participants Shaping The Connected Health Personal Medical Devices Market Landscape?

Major companies operating in the connected health personal medical devices market are Johnson & Johnson, F. Hoffmann-La Roche AG, Abbott Laboratories, Medtronic plc, Siemens Healthineers, Stryker Corporation, Becton, Dickinson and Company (BD), GE HealthCare, Philips Healthcare, Omron Healthcare India Private Limited, Zebra Technologies India Private Limited, Masimo Corporation, Oura Health Oy, Whoop Inc., Withings, Eko Health Inc., TytoCare Ltd., AliveCor Inc., DarioHealth Corp., iHealth Labs Inc., Levels Health Inc., Samsung Electronics Co. Ltd., Biostrap, Muse, Aktiia, Ava Science Inc., Bloomlife Inc., Lief Therapeutics, Movano Health, Oxitone Medical Ltd., Qardio Inc.

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Which Region Currently Holds The Largest Share In The Connected Health Personal Medical Devices Market?

North America was the largest region in the connected health personal medical devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected health personal medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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