"Connected Care Market – Industry Trends and Forecast to 2029
Global Connected Care Market, Type (M-Health Services, M-Health Devices and E-Prescription), Application (Monitoring, Diagnosis and Treatment, Education and Awareness, Healthcare Management and Wellness, and Prevention), Function (Home Monitoring, Clinical Monitoring, Assisted Living and Telemedicine), Target Audience (Medical Device Manufacturers, Medical Device Supplier, Government Research Laboratory, Research and Development (RD) Companies, Marketing Research and Consulting Service Provider, Medical Research Laboratories) – Industry Trends and Forecast to 2029.
Data Bridge Market Research analyses that the connected care market which was USD 37,264.73 million in 2021, is expected to reach USD 360481.17 million by 2029, at a CAGR of 32.8% during the forecast period 2022 to 2029. 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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Connected health, also known as technology-enabled care (TEC), aims to provide more and more flexible opportunities for consumers to engage with clinicians while also maximizing healthcare resources. The term "connected health" refers to a socio-technical model for the healthcare management system.
**Segments**
- **By Type**: The connected care market can be segmented by type into remote monitoring, home monitoring, telehealth, and others. Remote monitoring involves the collection of health data from an individual in one location and electronically transmitting that information to a healthcare provider in a different location. Home monitoring allows patients to manage their own health from the comfort of their homes through devices that monitor vital signs and send alerts to healthcare providers if necessary. Telehealth refers to the use of digital information and communication technologies to access healthcare services remotely and manage health care.
- **By Component**: This market segment can be further categorized by components such as devices, software, and services. Connected care devices include wearable technology, remote monitoring devices, and home health hubs. Meanwhile, software plays a crucial role in analyzing and interpreting data collected from these devices to provide actionable insights for both patients and healthcare providers. Services encompass various aspects, including telehealth consultations, remote patient monitoring services, and health coaching.
- **By End-User**: The connected care market also caters to different end-users, including healthcare providers, patients, and payers. Healthcare providers utilize connected care solutions to remotely monitor patients, manage chronic conditions, and improve overall healthcare delivery. Patients benefit from increased access to care, improved disease management, and enhanced convenience. Payers, such as insurance companies and government agencies, are increasingly investing in connected care to promote cost-effective healthcare solutions and better outcomes.
**Market Players**
- **Philips Healthcare**: A leading player in the connected care market, Philips offers a range of connected care solutions, including remote patient monitoring devices, telehealth services, and health management platforms. With a focus on patient-centered care, Philips aims to improve health outcomes and enhance the patient experience through innovative technologies.
- **Siemens Healthineers**: Siemens Healthineers is a prominent player that provides connected care solutions for healthcare providers and patients. From remote monitoring devices to advanced diagnostic tools, Siemens Healthineers leverages technology to enable seamlessAs the connected care market continues to evolve and expand, market players such as Philips Healthcare and Siemens Healthineers are at the forefront of driving innovation and pushing the boundaries of what is possible in healthcare delivery. Philips Healthcare's focus on patient-centered care aligns with the industry's growing emphasis on improving health outcomes and enhancing the overall patient experience. By offering a comprehensive suite of connected care solutions, including remote patient monitoring devices, telehealth services, and health management platforms, Philips is well-positioned to meet the needs of healthcare providers and patients seeking more accessible and convenient healthcare options.
Siemens Healthineers, another key player in the connected care market, is renowned for its advanced diagnostic tools and remote monitoring devices that facilitate seamless healthcare delivery for both providers and patients. By leveraging technology and data-driven insights, Siemens Healthineers enables healthcare professionals to make more informed decisions and provide personalized care to patients. The company's commitment to innovation and continuous improvement underscores its dedication to driving positive change in the healthcare industry and advancing the adoption of connected care solutions.
In addition to these market leaders, other players in the connected care market are also making significant strides in shaping the future of healthcare delivery. Companies like GE Healthcare, IBM Watson Health, and Medtronic are leveraging their expertise in healthcare technology and data analytics to develop innovative solutions that address the evolving needs of patients, providers, and payers. These companies are focusing on enhancing connectivity, interoperability, and data security to create a seamless healthcare ecosystem that offers real-time monitoring, personalized interventions, and improved clinical outcomes.
The increasing demand for connected care solutions is being driven by several factors, including the rising prevalence of chronic diseases, the need for more efficient healthcare delivery models, and the growing emphasis on preventive care and wellness. Patients are increasingly seeking ways to actively participate in their healthcare journey and manage their health outside traditional clinical settings. Healthcare providers are looking for ways to deliver more personalized care, improve care coordination, and reduce healthcare costs. Payers are exploring innovative payment models**Global Connected Care Market**:
- **Type**: The market can be segmented into M-Health Services, M-Health Devices, and E-Prescription. M-Health Services involve the use of mobile devices to support medical and public health practices, while M-Health Devices refer to wearable technology and remote monitoring devices. E-Prescription is a form of electronically generated and transmitted prescription.
- **Application**: Segments include Monitoring, Diagnosis and Treatment, Education and Awareness, Healthcare Management and Wellness, and Prevention. Providers use connected care for monitoring and managing patient health, diagnosing and treating illnesses, educating patients, managing healthcare facilities and promoting wellness and preventive care.
- **Function**: Connected care functions include Home Monitoring, Clinical Monitoring, Assisted Living, and Telemedicine. These functions enable remote monitoring of patients, clinical data collection, support for elderly or disabled individuals, and remote medical consultations.
- **Target Audience**: The market targets Medical Device Manufacturers, Suppliers, Government Labs, RD Companies, Marketing Research firms, and Medical Research Laboratories to develop and distribute connected care solutions.
As the global connected care market continues to expand, driven by the increasing demand for efficient healthcare solutions, the market dynamics are evolving rapidly. The market is witnessing a surge in the adoption of connected care technologies due to the rising prevalence of chronic diseases and the need for more personalized and accessible healthcare services. The integration of advanced digital technologies such as wearable devices, remote monitoring systems, and telehealth services is revolutionizing the
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Connected Care Market Landscape
Part 04: Global Connected Care Market Sizing
Part 05: Global Connected Care Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Connected Care Key Benefits over Global Competitors:
- The report provides a qualitative and quantitative analysis of the Connected Care Market trends, forecasts, and market size to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients
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