Connected Health Personal Medical Devices Market to Grasp Outstanding Growth of USD 75.74 billion by 2030, Size, Share, Trends, Opportunities, Key Drivers and Growth Prospectus

Data Bridge Market Research analyses that the connected health personal medical devices market which was USD 20.15 billion in 2022, is expected to reach USD 75.74 billion by 2030, at a CAGR of 18% during the forecast period 2023 to 2030.

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DUBLIN , June 06, 2023 (GLOBE NEWSWIRE) -- The most recent research analysis conducted by Data Bridge Market Research, titled "Connected Health Personal Medical Devices Market" extensively examines key regions including the United States, Europe, China, Japan, India, South East Asia, and other regions. The comprehensive report provides decision-makers with valuable strategic and tactical support, offering an in-depth exploration of the market's potential opportunities and associated risks. A high-ranking report from Connected Health Personal Medical Devices market research offers a comprehensive and in-depth analysis of the market. It provides valuable insights that enable businesses to gain a clear understanding of the market landscape and make informed decisions for their growth. Renowned analysis tools such as SWOT analysis and Porter’s Five Forces analysis, ensure that all data, facts, figures, and information are reliable, and support the report.

The production of this excellent Connected Health Personal Medical Devices market report involves multiple steps, where a dedicated team of researchers, analysts, and forecasters contribute their expertise. The report encompasses the market's expectations, existing conditions, competitive environment, and strategies to surpass competitors, presenting a well-rounded market research analysis. This report serves as a complete overview of the market, including product definitions, market segmentation based on various parameters, and the current vendor landscape. It not only keeps businesses updated on the market but also provides a holistic view of the industry. The Connected Health Personal Medical Devices market survey report is a professional and in-depth study that sheds light on the current state of the market and the broader Connected Health Personal Medical Devices industry.

Data Bridge Market Research analyses that the connected health personal medical devices market, which was USD 20.15 billion in 2022, is expected to reach USD 75.74 Billion by 2030, at a CAGR of 18% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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A connected health device is a technology that is used for the patient care in the most efficient and proactive manner possible. The approach has the potential to empower patients, clinicians, and healthcare planners. These devices are changing the lives of thousands of patients. Some of the most popular health-connected devices are include self-monitored ECG, Adheretech's smart wireless pill bottle, intelligent asthma management, and health patch MD, among others.

According to the Center for Medicare and Medicaid Services 2021, national healthcare spending increased by 9.7% to USD 4.1 trillion in 2020, or USD 12,530 per person, and accounted for 19.7% of GDP (GDP). Such drastic healthcare spending indicates that the overall demand for connected devices may gradually increase. Furthermore, according to the US Centers for Disease Control and Prevention, overall life expectancy at birth is steadily rising, intending to reach 74.4 years by 2022, up from 73.3 years in 2017. The majority of the increase is due to lower infant mortality. However, according to the same survey, life expectancy in the United States has fallen for the third year in a row to 78.6 years.

The core objective of the Connected Health Personal Medical Devices Industry Report is to provide a comprehensive understanding of the primary goals within the Connected Health Personal Medical Devices market. This report delves into the crucial aspects that can enhance your sales considerably, including insights into competition, market trends, potential new products, and valuable information.

Key areas covered in the report are:

  1. Determining factors influencing the size and growth rate of the Connected Health Personal Medical Devices market.
  2. Analyzing significant changes expected in the Connected Health Personal Medical Devices Market in the near future.
  3. Identifying noteworthy competitors operating in the global market.
  4. Exploring the future scope and product outlook of the Connected Health Personal Medical Devices Market.
  5. Identifying emerging markets that hold potential for future growth.
  6. Addressing the challenging obstacles and threats present in the market.
  7. Presenting sales data and profiles of leading Connected Health Personal Medical Devices manufacturers worldwide.

Noteworthy companies in the Connected Health Personal Medical Devices market are:

  • AgaMatrix (U.S.)
  • AirStrip Technologies, Inc (U.S.)
  • AliveCor, Inc. (U.S.)
  • Allscripts Healthcare, LLC (U.S.)
  • Apple Inc. (U.S.)
  • Boston Scientific Corporation (U.S.)
  • Cerner (U.S.)
  • General Electric (U.S.)
  • Honeywell International Inc. (U.S.)
  • Medtronic (Ireland)
  • Microsoft (U.S.)
  • Persistent Systems (India)
  • Koninklijke Philips N.V. (Netherlands)
  • Qualcomm Technologies, Inc. (U.S.)
  • Vivify Health, Inc. (Canada)
  • IBM Corporation (U.S.)

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Opportunities:

  • Government Initiatives

Strategic initiatives such as partnerships, acquisitions, mergers, and new product launches and investments are some marketing and growth strategies used by these healthcare companies to gain a competitive advantage. For instance, in Medtronic India partnered with Statis Health, a division of Stasis Labs, in September 2021 to promote the latter's bedside patient monitoring system throughout India. A bedside monitor and a cloud-connected app provide remote monitoring across devices in the connected care monitoring system.

Key Market Segments Covered in Connected Health Personal Medical Devices Industry Research

Product

  • BP Monitors
  • Portable GPS PERS
  • Personal Pulse Oximeter
  • Smart Pill Dispenser
  • Personal ECG

 Application

  • Hospitals/Clinics
  • Home Monitoring

Type

  • Healthcare IT
  • Health Information Exchange
  • Healthcare Analytics

Key Growth Drivers:

  • Increasing geriatric population

From 2016 to 2020, the global geriatric population is anticipated to exhibit a compound annual growth rate (CAGR) of 6.5%, resulting in a population of 1.6 billion by 2020. As a consequence, there will be a significant increase in the number of individuals with chronic illnesses who will necessitate ongoing monitoring and treatment. This, in turn, will fuel the demand for connected personal health medical devices.

  • Rising prevalence of lifestyle-related diseases

The global prevalence of lifestyle-related diseases, including obesity, diabetes, and heart disease, is on the rise due to changing lifestyles and dietary habits. Consequently, there is a growing demand for connected personal health medical devices that can facilitate early diagnosis and prevention of these diseases. These devices play a crucial role in enabling individuals to monitor their health status, make informed decisions, and take proactive measures to manage and mitigate the risks associated with these conditions.

  • Rising awareness about the benefits of connected health devices

The awareness among consumers regarding the advantages provided by connected health personal medical devices is increasing. These devices offer benefits such as enhanced patient care, timely diagnosis and treatment, and reduced healthcare costs. As a result, their adoption is gaining momentum worldwide. Consumers recognize the value of these devices in improving their overall health outcomes, empowering them to take proactive measures, and enabling more efficient healthcare management.

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Connected Health Personal Medical Devices Market Regional Analysis/Insights:

The countries covered in the connected health personal medical devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the connected health personal medical devices market due to the occurrence of well-established healthcare infrastructure along with rising awareness among the people regarding the benefits of devices.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the development of healthcare infrastructure along with rising demand of wearable devices.

The study's investment offers a wealth of information, empowering you with comprehensive insights into the following aspects:

  1. Connected Health Personal Medical Devices Market Analysis: Gain a holistic understanding of the Connected Health Personal Medical Devices Market, both at a global level and broken down into specific regions. This analysis provides you with a detailed overview of market dynamics, trends, and opportunities worldwide.
  2. Regional Breakdown: Explore the Connected Health Personal Medical Devices Market on a regional scale, encompassing North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Uncover region-specific market characteristics, growth drivers, and key players operating in each area.
  3. Country-wise Market Size: Dive deeper into the Connected Health Personal Medical Devices Market by exploring the market size of essential countries that hold significant market share. This breakdown allows you to identify specific markets that present lucrative opportunities for investment or expansion.
  4. Market Share and Revenue Analysis: Gain insights into the leading players in the Connected Health Personal Medical Devices Market and their respective market shares. Additionally, understand the revenue and sales figures of these key players, enabling you to assess their competitive position and identify potential collaborations or partnerships.
  5. Market Trends and Analysis: Stay ahead of the curve with a comprehensive examination of market trends, including emerging technologies, innovative products, and startup ventures. Furthermore, benefit from strategic analyses such as PESTEL Analysis, SWOT Analysis, and Porter's Five Forces, which provide valuable insights into the market's competitive landscape and potential risks.
  6. Market Size Evaluation: Understand the overall market size of the Connected Health Personal Medical Devices Market, enabling you to gauge its magnitude and potential for growth. This assessment serves as a foundation for strategic decision-making and investment planning.
  7. Market Size by Application/Industry Verticals: Analyze the Connected Health Personal Medical Devices Market from the perspective of different application areas or industry verticals. This breakdown provides a granular understanding of market dynamics within specific sectors, allowing you to target your efforts more effectively.
  8. Market Projections and Forecast: Anticipate future market developments with accurate projections and forecasts. This invaluable information helps you make informed decisions, adapt your strategies, and seize emerging opportunities in the Connected Health Personal Medical Devices Market.

By leveraging the comprehensive insights provided by this study, you will be equipped with the knowledge necessary to navigate the Connected Health Personal Medical Devices Market successfully and make informed business decisions.

Table of Contents:

  1. Introduction
  2. Market Segmentation
  3. Executive Summary
  4. Premium Insights
  5. Global Connected Health Personal Medical Devices Market: Regulations
  6. Market Overview
  7. Global Connected Health Personal Medical Devices Market, By Product
  8. Global Connected Health Personal Medical Devices Market, By Application
  9. Global Connected Health Personal Medical Devices Market, By Type
  10. Global Connected Health Personal Medical Devices Market, By Region
  11. Global Connected Health Personal Medical Devices Market: Company Landscape
  12. SWOT Analyses
  13. Company Profile
  14. Questionnaires
  15. Related Reports

Get the Complete Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-connected-health-personal-medical-devices-market

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