Global Connected Health Market to Grow at 26.54% CAGR from 2016 to 2020 owing to Rising Popularity of Wearable Devices

Published Date : Aug 16, 2016

Albany, NY, Aug 16, 2016: Connected health optimizes all available healthcare resources to minimize wastage. Thus, it provides flexible, personalized, and customized healthcare options for the patients. Connected health uses advanced technology to assure that healthcare services and products are delivered on time in remote areas. Connected healthcare services use different technologies to offer home care, telehealth, lifestyle management, disease management, and other enhanced healthcare services. The growing adoption of connected health services is predicted to propel the market, predicts a new report recently added to the vast database of 

As per the findings of the report titled ‘Global Connected Health Market 2016-2020,’ the market is predicted to exhibit a 26.54% CAGR from 2016 to 2020. The growing popularity of wearable devices is the primary factor expected to drive the global connected health market. Advancements in technology have helped manufacturers introduce many new wearable medical devices, which is anticipated to make the global market highly competitive. The introduction of new connected health devices by key companies is predicted to further propel the market.

For instance, recently, Philips Healthcare introduced a new suite of connected personal healthcare in the U.S. The device comprises a thermometer, a pair of scales, a fitness tracker watch, and blood pressure measuring cuffs. This device will allow people to track their health effectively. This news has inspired many organizations operating in the global connected health market to dedicate their efforts in developing innovative devices. 

Key companies are currently focusing on advancing their connected healthcare services by developing more wearable medical devices. Allscripts, Apple, Athenahealth, GE Healthcare, Philips Healthcare, AeroScout (Stanley Healthcare Solutions), Abbott, Agfa-Gevaert, Alcatel-Lucent, Cardio Net, Epic Systems, Evolent Health, F. Hoffmann-La Roche, Google, Honeywell Life Care Solutions, HP, and Huawei are some of the key organizations operating in the global connected health market.

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Regionally, the global connected health market is divided into North America, Asia Pacific, Europe, and Rest of the World. Inadequate healthcare infrastructure in some of the underdeveloped nations is expected to be the biggest challenge for the global connected health market. However, considering the improving outcome of connected healthcare services and devices, they are being increasingly used across various locations. This is expected to benefit the global market.

The advent of wearable devices has changed the outlook of the entire healthcare industry. Wearable devices have been successful in bridging the gap between the healthcare service providers and patients. Self-help wearable devices have helped patients take care of their health efficiently. With startups planning to introduce new wearable devices in the global market, the connected health market is expected to witness considerable growth in the coming years.

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