PUBLISHER: The Business Research Company | PRODUCT CODE: 1648636
PUBLISHER: The Business Research Company | PRODUCT CODE: 1648636
Connected healthcare is a technology-driven framework that connects devices, services, and providers, allowing for the seamless exchange of health data. This system enhances patient care by enabling real-time monitoring, remote diagnostics, and personalized treatments.
The primary types of connected healthcare include e-prescription, mHealth services, and mHealth devices. E-prescription involves the use of digital format prescriptions, differing from traditional written prescriptions, to send prescription orders to patients, physicians, or other medical practitioners during treatment. This method enhances the prescription process, minimizing writing errors and improving accuracy. Connected healthcare functions encompass remote patient monitoring, clinical monitoring, telemedicine, among others. The applications of connected healthcare span monitoring, diagnosis and treatment, education and awareness, healthcare management and wellness, and prevention. These applications are utilized by end-users such as hospitals and clinics, as well as for home monitoring.
The connected healthcare research report is one of a series of new reports from The Business Research Company that provides connected healthcare statistics, including global market size, regional shares, competitors with connected healthcare shares, detailed connected healthcare segments, market trends and opportunities, and any further data you may need to thrive in the connected healthcare industry. This connected healthcare research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The connected healthcare market size has grown exponentially in recent years. It will grow from $155.31 billion in 2024 to $195.91 billion in 2025 at a compound annual growth rate (CAGR) of 26.1%. The growth in the historic period can be attributed to aging population and chronic diseases, digital health adoption, healthcare costs and efficiency, remote patient monitoring, and pandemic-induced demand.
The connected healthcare market size is expected to see exponential growth in the next few years. It will grow to $555.58 billion in 2029 at a compound annual growth rate (CAGR) of 29.8%. The growth in the forecast period can be attributed to increasing adoption of personalized medicine, health data interoperability, value-based care models, increasing mental health and well-being focus, healthcare access and equity, growing cybersecurity and data protection, growing demand for population health management. Major trends in the forecast period include expansion of iot devices and sensors, artificial intelligence in healthcare, wearable health technology, technological advancements, and product innovations.
The increasing integration of IT in healthcare is playing a crucial role in the expansion of the connected healthcare market. Connected healthcare leverages the internet and other wireless technologies to collect patient data and facilitate connections between patients and their caregivers, enabling remote healthcare monitoring through automated systems. This approach necessitates the use of healthcare IT integration software and its incorporation into healthcare devices and applications to ensure smooth operation and management of extensive medical data, ultimately improving remote healthcare management. For example, a survey conducted by the Healthcare Information and Management Systems Society (HIMSS) in November 2022 revealed that 61% of healthcare executives reported implementing automation technologies, marking a significant rise compared to previous years. This increase is part of a broader initiative to enhance operational efficiency and lower costs in healthcare environments. Consequently, the ongoing integration of IT in healthcare is anticipated to drive the growth of the connected healthcare market throughout the forecast period.
The increasing healthcare expenditure is anticipated to drive the growth of the connected healthcare market in the future. Healthcare expenditure encompasses the total financial resources allocated to healthcare services, treatments, and medical products within a particular healthcare system or region. Higher healthcare expenditures stimulate demand for connected healthcare by providing the necessary financial resources to invest in technology, data security, research and development, and the infrastructure essential for implementing connected healthcare solutions. For example, in July 2024, the American Medical Association, a US-based organization, reported that U.S. health spending grew by 4.1% in 2022, reaching $4.5 trillion, or $13,493 per person. Therefore, the increase in healthcare expenditures is fueling the growth of the connected healthcare market.
Major companies in the connected healthcare market are strategically focusing on the development of technologically advanced products to enhance remote patient monitoring and improve healthcare outcomes. The ZAIDYN Connected Health solution, developed by ZS Associates Group, Inc., is one such innovation. Launched in October 2023, this AI-powered solution is part of the ZAIDYN by ZS platform, offering three product suites-health insights, patient engagement, and connected research. ZAIDYN Connected Health aims to assist pharmaceutical firms, healthcare providers, and payers in innovating to recognize unmet needs, engage patients, and enhance health outcomes. This exemplifies the commitment of major players to technological advancements and improving healthcare through connected solutions.
In January 2023, Medtronic, a global leader in medical technology based in the United States, acquired Mazor Robotics for around $1.7 billion. This acquisition is intended to strengthen Medtronic's surgical robotics portfolio and broaden its capabilities in the neurosurgery market. Mazor Robotics is an Israel-based medical device company that specializes in robotic-assisted surgery.
Major companies operating in the connected healthcare market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Koninklijke Philips N.V., International Business Machines Corporation, AirStrip Technologies LP, AgaMatrix Holdings LLC, AliveCor Inc., Apple Inc., Athenahealth Inc., Boston Scientific Corporation, GE Healthcare, Medtronic plc, Microsoft Corporation, Qualcomm Incorporated, Systems Applications and Products in Data Processing (SAP), Oracle Corporation, Accenture plc, Honeywell Life Care Solutions, Persistent Systems Limited, Sanofi S.A., Vivify Health Inc., Entia Ltd., GlaxoSmithKline plc, NeuroFlow Inc., Butterfly Network Inc., OneRail, Evidation Health Inc., DarioHealth Corp., Pixium Vision SA, Stanley Healthcare Solutions
North America was the largest region in the connected healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the connected healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The connected healthcare market includes revenues earned by entities by providing healthcare products and services that combine health, technology, and mobile telecommunications. Connected healthcare enables hospitals, clinics, and other healthcare service providers to provide care remotely. It also ensures that doctors, patients, and family members access critical health information. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Connected Healthcare Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on connected healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for connected healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The connected healthcare market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.