Understanding Key Drivers and Growth Opportunities in the Connected Healthcare Market: Trends and Market Size Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Connected Healthcare Market?
The rise in the incorporation of IT in the healthcare sector is substantially driving the expansion of the connected healthcare market. Through the utilization of the internet and other wireless innovations, connected healthcare is able to amass data from patients and facilitate their connection with healthcare providers, thereby encouraging remote healthcare monitoring via automated systems. The successful operation of connected healthcare demands the integration of healthcare IT software into medical devices and applications – a process vital in managing the extensive volume of medical data, and consequently boosting remote health management capabilities. For example, a November 2022 survey conducted by the Healthcare Information and Management Systems Society (HIMSS) revealed that 61% of healthcare executives had implemented automation technology. This reflected a notable escalation compared to previous years, indicating a wider drive to improve operational proficiency and cut down costs within healthcare environments. Thus, the upsurge in healthcare IT integration is anticipated to further stimulate the growth of the connected healthcare market in the future.
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#What is the Anticipated CAGR of theConnected Healthcare Market, and What Factors Will Drive It?
The market size for connected healthcare has seen a notable expansion in the past few years. It is anticipated to rise from $155.31 billion in 2024 to $195.91 billion in 2025, marking a compound annual growth rate (CAGR) of 26.1%. Various causes have contributed to this growth during the historic period, such as an increasing older population and rampant chronic diseases, widespread adoption of digital health, concerns related to healthcare costs and efficiency, the rise in remote patient monitoring, and the demand triggered by the pandemic.
In the coming years, the connected healthcare market is projected to experience remarkable growth, reaching a value of $555.58 billion in 2029 with a compound annual growth rate (CAGR) of 29.8%. This projected growth during the forecast period is mainly due to the growing acceptance of personalized medicine, health data interoperability, value-centric care models, increased focus on mental health and wellness, accessibility and fairness in healthcare, enhanced cybersecurity, and data protection, and rising demand for population health management. Key trends that mark the forecast period encompass the proliferation of IoT devices and sensors, the incorporation of artificial intelligence in healthcare, the emergence of wearable health technology, advancements in technology, and innovation in products.
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What Are the Most Significant Market Trends Transforming theConnected Healthcare Market?
Major entities functioning in the connected healthcare market are making efforts to develop technologically superior products such as ZAIDYN Connected Health solution. This product aims to improve remote patient observation and enhance healthcare results. It aids companies in the pharmaceutical sector, healthcare providers, and payers to innovate and improve their understanding of unmet requirements, engage patients, and improve health results. For instance, in October 2023, ZS Associates Group, Inc., a management consulting and technology establishment based in the US, unveiled the AI-based product ZAIDYN Connected Health solution under the ZAIDYN by ZS platform. The product offers three product suites that bridge the gap in healthcare and pave the way towards a patient-focused future: health insights, patient engagement, and connected research.
What Are the Top Market Players Propelling the Growth of theConnected Healthcare Industry?
Major companies operating in the connected healthcare market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Koninklijke Philips N.V., International Business Machines Corporation, AirStrip Technologies LP, AgaMatrix Holdings LLC, AliveCor Inc., Apple Inc., Athenahealth Inc., Boston Scientific Corporation, GE Healthcare, Medtronic plc, Microsoft Corporation, Qualcomm Incorporated, Systems Applications and Products in Data Processing (SAP), Oracle Corporation, Accenture plc, Honeywell Life Care Solutions, Persistent Systems Limited, Sanofi S.A., Vivify Health Inc., Entia Ltd., GlaxoSmithKline plc, NeuroFlow Inc., Butterfly Network Inc., OneRail, Evidation Health Inc., DarioHealth Corp., Pixium Vision SA, Stanley Healthcare Solutions
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Which Primary Segments of the Connected Healthcare Market Are Driving Growth and Industry Transformations?
The connected healthcare market covered in this report is segmented –
1) By Type: e-Prescription, mHealth Services, mHealth Devices
2) By Function: Remote Patient Monitoring, Clinical Monitoring, Telemedicine, Other Functions
3) By Application: Monitoring Applications, Diagnosis And Treatment, Education And Awareness, Healthcare Management, Wellness And Prevention
4) By End Users: Hospitals And Clinics, Home Monitoring
Subsegments:
1) By e-Prescription: Electronic Prescription Management Systems, E-Pharmacy Integration, Prescription Refill and Renewal Systems
2) By mHealth Services: Remote Patient Monitoring Services, Telemedicine and Virtual Consultation Services, Health and Wellness Coaching Services
3) By mHealth Devices: Wearable Fitness Trackers, Mobile Health Monitors, Smart Medication Management Devices
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Connected Healthcare Market?# Market?
North America was the largest region in the connected healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected healthcare market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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