The Global Connected Healthcare Market is valued for USD 53.3 Billion in 2021 and is anticipated to reach USD 446.3 Billion by 2030 with a CAGR of 27.1% from 2022 to 2030.

The integration of information and communication technology (ICT) into healthcare systems and medical equipment is referred to as connected healthcare, also known as digital health or eHealth. It entails collecting, analyzing, and sharing health-related data between patients, healthcare providers, and other stakeholders in the healthcare ecosystem using digital tools such as mobile apps, wearable devices, telemedicine platforms, electronic health records (EHRs), and health monitoring systems.

The demand for connected healthcare has risen significantly due to its numerous benefits. For starters, it improves patient outcomes by allowing for better patient monitoring, early diagnosis of health concerns, and personalized treatment strategies. This, in turn, leads to lower death rates and better overall patient health. Connected healthcare also improves patient participation by making real-time health data, educational tools, and remote consultations available. This enables patients to take an active role in their health management and make educated decisions regarding their health.

Connected Healthcare Market Dynamics

In recent years, the linked healthcare sector has seen substantial expansion and transformation. The incorporation of information and communication technology (ICT) into healthcare systems has resulted in an increase in the demand for linked healthcare solutions. The introduction of mobile applications, wearable devices, telemedicine platforms, and electronic health records (EHRs) has resulted in a paradigm change in the way healthcare services are given and maintained in the healthcare business.

The promise to enhance patient outcomes is one of the primary driving motivations for the emergence of linked healthcare. The capacity to remotely monitor patients, collect real-time health data, and personalize treatment programmes has resulted in better patient care and lower death rates. Patients are becoming more involved in their own health management as digital health solutions offer them with access to their health information and allow for virtual consultations with healthcare specialists.

The desire for better efficiency and cost-effectiveness in healthcare delivery has also spurred demand for linked healthcare. For healthcare providers, digital technologies have expedited administrative procedures, decreased paperwork, and lowered operating expenses. Remote patient monitoring has also lowered the load on healthcare facilities by reducing the frequency of in-person visits and hospital readmissions, resulting in cost savings for both healthcare professionals and patients.

Connected healthcare has considerably increased access to healthcare services. Patients in rural or underdeveloped locations now have access to medical advice and assistance via telemedicine and virtual health platforms. The provision of healthcare resources 24 hours a day, seven days a week has shown to be very beneficial during crises and has contributed to increasing general healthcare access for communities globally.

The convergence of linked healthcare and new technologies such as artificial intelligence (AI) and the Internet of Things (IoT) has propelled industry expansion even further. Artificial intelligence-powered computers can analyze massive volumes of health data to find patterns, anticipate health hazards, and optimize treatment options. Wearable health trackers, for example, provide seamless data collection and transfer, enabling continuous health monitoring and early intervention.

The COVID-19 pandemic has accelerated the implementation of linked healthcare. With the need for social distance and less physical interaction, telemedicine and remote patient monitoring have become critical instruments for ensuring ongoing healthcare delivery. This unprecedented global health crisis has hastened digital change in the healthcare industry, increasing demand for linked healthcare solutions.

Finally, the goal to improve patient outcomes, boost healthcare efficiency, and improve access to healthcare services is driving the connected healthcare industry. Because of the integration of digital technologies and their capacity to empower patients and healthcare practitioners, linked healthcare has become an essential component of modern healthcare delivery. As technology advances and the benefits of remote healthcare become more apparent, the connected healthcare industry is likely to expand more in the coming years.

Connected Healthcare Market Segmentation

The connected healthcare market can be classified based on function, type, application, and geography. Function segment is divided into telemedicine, home monitoring, assisted living, and clinical monitoring. Type segment is split into e-Prescription, m-Health Services, and m-Health Devices. Application segment can be split into diagnosis & treatment, monitoring applications, and education & awareness, wellness & prevention, and healthcare management.

Global Connected Healthcare Market Geographical Competition

The market is well-established in the United States, which has been a pioneer in linked healthcare adoption, thanks to a solid healthcare system, major investments in digital health technology, and a big tech-savvy population. In the United States, major firms provide a wide range of linked healthcare solutions, such as telemedicine platforms, health monitoring devices, and electronic health records (EHR) systems.

Countries in Europe, such as the United Kingdom, Germany, and France, have adopted linked healthcare solutions, owing to modern healthcare systems and a thriving technology industry. The European market is distinguished by a mix of domestic and foreign firms seeking to meet the region's distinct healthcare demands. The regulatory framework, while somewhat harmonized by EU rules, may create differing hurdles for enterprises operating in different European nations.

The Asia-Pacific region has witnessed a surge in diabetes prevalence in recent years, primarily due to changing lifestyles, urbanization, and dietary habits. Connected Healthcare are in high demand in countries with large diabetic populations, such as India and China. However, variables such as diverse healthcare infrastructure, income levels, and diabetes management knowledge all have an impact on market dynamics in this area. Device cost continues to be a major issue in market penetration in many Asian nations.

China stands out as a prominent participant in the connected healthcare market in Asia, thanks to its large population, increasing demand for healthcare services, and strong government backing for digital health projects. A plethora of local startups and established businesses provide a diverse range of linked healthcare solutions targeted to the Chinese market. Furthermore, due to ageing populations and excellent technical infrastructures, nations such as Japan and South Korea have been in the forefront of connected healthcare adoption.

Global Connected Healthcare Industry Segment Analysis

Market By Function

·         Telemedicine

·         Home Monitoring

·         Assisted Living

·         Clinical Monitoring

Market By Type

·         E-Prescription

·         M-Health Services

·         M-Health Devices

Market By Application

·         Diagnosis & Treatment

·         Monitoring Applications

·         Education & Awareness

·         Wellness & Prevention

·         Healthcare Management

Connected Healthcare Market Leading Companies

The players profiled in the report are Agamatrix, Inc., Airstrip Technology, AliveCor Inc., Allscripts Accenture Plc, Athenahealth Inc., Boston Scientific Corporation, Cerner, GE Healthcare, IBM Corporation, Koninklijke Philips N.V., Medtronic, Microsoft Corporation, Oracle Corporation, Qualcomm, and SAP SE.

Connected Healthcare Market Regions