Top Growth Trends in the Connected Health and Wellness Solutions Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theConnected Health and Wellness Solutions Market?
The expansion of mhealth device usage is propelling the growth of the connected health and wellness solutions industry. Telemedicine applications and mobile monitoring systems integrated into mhealth devices offer opportunities to maintain health records and provide key information to health professionals. These mhealth devices encompass fitness trackers, smartphones, smartwatches, and more. The International Data Group, a US-based technology research company, predicts that global wearable device shipments will revive in 2023, reaching 504.1 million units in total. They foresee a 2.4% year-on-year growth, primarily driven by the continued demand for earwear and smartwatches, while other products maintain their current momentum. This increase in expenditure on wearable devices is expected to spur the demand for mhealth devices, thereby propelling the connected health and wellness solutions market.
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#How Will the CAGR of the Connected Health and Wellness Solutions Market Influence Its Overall Growth by 2034?
The market size for connected health and wellness solutions has seen a significant surge in growth over the past few years. The market is projected to expand from a valuation of $68.1 billion in 2024 to $82.61 billion in 2025, boasting a compound annual growth rate (CAGR) of 21.3%. Factors such as an aging population, prevalence of chronic diseases, adoption of digital health methods, optimization of healthcare costs and efficiency, implementation of remote patient monitoring, and the demand spike caused by the pandemic have all contributed to the historical growth.
The market size for connected health and wellness solutions is projected to witness a significant surge in the coming years, with an expected value of $195.75 billion by 2029, which equates to a compound annual growth rate (CAGR) of 24.1%. Factors contributing to this predicted growth during the forecast period could include the increased uptake of personalized medicine, health data interoperability, value-based care practices, a heightened emphasis on mental health and well-being, health care accessibility and fairness, increased cybersecurity and data protection, and a rising demand for population health management. The forecast period will also likely see trends such as the proliferation of IoT devices and sensors, the use of artificial intelligence in healthcare, wearable health technology, advancements in technology, and product innovation.
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What Are the Current Market Growth and Trends in theConnected Health and Wellness Solutions Market That Industry Players Should Watch?
The rising popularity of digital health technology is a prominent trend in the connected health and wellness solutions market. With the help of applications, computing platforms, sensors, among other tools, this technology provides precise health information to patients. The need for this technology has seen a significant growth over the past few years. Based on the data from Rock Health’s 2022 Digital Health Consumer Adoption Survey, there has been an increase in the usage of telemedicine services, with 80% of participants admitting to using such services at least once in their lives, up from 72% in 2021.
What Are the Major Market Players Making an Impact on theConnected Health and Wellness Solutions Market Growth?
Major companies operating in the connected health and wellness solutions market include Omron Healthcare Inc., Koninklijke Philips N.V., GE Healthcare Technologies Inc., Drägerwerk AG & Co. KGaA, Fitbit LLC, Abbott Laboratories, Apple Inc., Garmin Ltd., Boston Scientific Corporation, Medtronic PLC, Masimo Corporation, ResMed Inc., NXGN Management LLC, Allscripts Healthcare LLC, Cerner Corporation, IBM Corporation, AgaMatrix Inc., Microlife AG, Aerotel Medical Systems Ltd., Mckesson Corporation, BioTelemetry Inc., Honeywell International Inc., Qualcomm Life Inc., iHealth Labs Inc.
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How Are the Key Segments of the Connected Health and Wellness Solutions Market Driving Opportunities and Innovations?
The connected health and wellness solutions market covered in this report is segmented –
1) By Product: Personal Medical Devices, Wellness Products, Software & Services
2) By Function: Clinical Monitoring, Telehealth
3) By Application: Diagnosis & Treatment, Wellness and prevention, Monitoring, Other Applications
Subsegments:
1) By Personal Medical Devices: Wearable Health Monitors, Remote Patient Monitoring Devices, Connected Inhalers and Medication Adherence Devices
2) By Wellness Products: Smart Scales and Body Composition Monitors, Sleep Trackers and Sleep Aids, Smart Thermometers
3) By Software & Services: Mobile Health Applications (mHealth apps), Telehealth Platforms and Services, Data Analytics and Health Management Solutions
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theConnected Health and Wellness Solutions Market?# Market Expansion?
North America was the largest region in the connected health and wellness solutions market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected health and wellness solutions market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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