(MENAFN- EIN Presswire) global connected health wellness devices market is experiencing significant growth and is projected to continue expanding in the coming years.
NEW YORK, NEW YORK, UNITED STATES, June 1, 2023/einpresswire.com / --
The global connected health wellness devices market is experiencing significant growth and is projected to continue expanding in the coming years. The market size was USD 55.5 billion in 2022, and it is expected to reach USD 332.3 billion by 2032. This represents a compound annual growth rate (CAGR) of 22% during the forecast period.
The primary driver behind the increasing revenue in the market is the growing consumer demand for advanced health and wellness monitoring devices. People are becoming more conscious of their health and well-being and are seeking tools and gadgets that can help them monitor and manage their conditions effectively. The availability of sophisticated devices that can track various health parameters and provide real-time data is fueling this demand.
Another key factor contributing to the need for connected health and wellness devices is the rising prevalence of chronic illnesses. Conditions such as diabetes, cardiovascular diseases, and respiratory disorders require continuous monitoring and management. Connected devices enable individuals to monitor their health conditions conveniently from home, reducing the need for frequent hospital visits and improving overall disease management.
Moreover, there is an increasing awareness among individuals regarding the importance of health and wellness. People are actively seeking ways to improve their lifestyle and prevent the onset of chronic diseases. Connected health and wellness devices provide them with the necessary tools to track their fitness levels, monitor vital signs, and receive personalized recommendations for a healthier lifestyle.
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The rising use of smartphones and other mobile devices is indeed a significant driver for revenue growth in the market for connected health and wellness products. These devices offer real-time monitoring and analysis of health data, and their seamless integration with smartphones and other mobile devices enhances their usability and convenience. By connecting health and wellness devices to smartphones, users can easily access and interpret their health data, track progress, and receive personalized recommendations.
Furthermore, the increasing popularity of wearable gadgets, such as smartwatches and fitness bands, is also contributing to the growth of the market. These wearable devices are designed to monitor various health parameters, such as heart rate, sleep patterns, and physical activity. They provide users with continuous, real-time feedback and motivation to improve their health and fitness levels. The convenience and portability of these devices make them highly appealing to individuals seeking to monitor and manage their well-being.
Leading companies operating in the market are:
Apple Inc.
Fitbit, Inc.
Garmin Ltd.
Omron Healthcare, Inc.
Philips Healthcare
Samsung Electronics Co., Ltd.
Abbott Laboratories
AliveCor, Inc.
BioTelemetry, Inc.
Medtronic
Global Connected Health Wellness Devices Market Segmentation:
Additionally, the demand for connected health wellness gadgets has been driven by the rising uptake of digital health platforms and telemedicine services. These platforms and services enable remote healthcare delivery, allowing patients to access healthcare professionals and monitor their health conditions from any location. Connected devices play a crucial role in this setup as they provide the necessary data and connectivity for seamless communication between patients and healthcare providers. The combination of connected health devices, telemedicine services, and digital health platforms offers a comprehensive approach to healthcare management, particularly for individuals in remote or underserved areas.
In conclusion, the increasing use of smartphones and mobile devices, the popularity of wearable gadgets, and the growing adoption of digital health platforms and telemedicine services are all contributing to the revenue growth in the market for connected health and wellness products. These factors enable real-time monitoring, seamless integration, and remote healthcare delivery, driving the demand for connected health and wellness gadgets.
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Smart Scales
Smart Scales
Blood Pressure Monitors
Glucose Monitors
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Home Healthcare
Hospitals
Others
Regional Outlook:
The report offers in depth analysis of leading regions categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Regional Analysis covers:
North America
U.S.
Canada
Mexico
Europe
Germany
Italy
U.K.
Rest of EU
Asia Pacific
India
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
A.E
Rest of MEA
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Key questions addressed in the report:
What are the key outcomes of Porter's Five Force analysis?
What CAGR is the global Connected Health Wellness Devices Market expected to register during the forecast period?
Who are the key players operating in the global Connected Health Wellness Devices Market?
What are the key factors that are expected to boost market growth between 2021 and 2028?
Which key factors are expected to hamper overall market growth?
What is the expected market size of Connected Health Wellness Devices Market between 2021 and 2028?
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Overall, the Connected Health Wellness Devices Market is poised for significant growth in the coming years, as more and more consumers embrace the benefits of these devices and the technology behind them continues to evolve and improve. This presents opportunities for companies to develop and market new products that can meet the diverse needs of consumers in this rapidly growing market.
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