Covina, Sept. 02, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the connected healthcare market size is predicted to grow from USD 125.4 Billion in 2024 to USD 3339.0 Billion by 2034, representing a compound annual growth rate (CAGR) of 38.8% throughout the forecast period.
Connected Healthcare Market Report Overview
Connected Healthcare refers to the integration of advanced technologies and digital solutions to enhance the delivery of healthcare services, improve patient outcomes, and streamline healthcare operations. This concept encompasses a range of technologies, including telemedicine, wearable devices, remote monitoring, electronic health records (EHRs), and health information exchanges.
The goal is to create a seamless and efficient healthcare ecosystem where data can be shared and accessed in real time, enabling better communication between patients and healthcare providers, and facilitating more personalized and effective care.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of market
- Major key players in market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent development/news of market
- Opportunities & Challenges of Market
Competitive Landscape:
The Connected Healthcare Market is characterized by rapid growth, technological innovation and fierce competition. Companies are expanding their global presence, focusing on sustainability and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Accenture Plc.
- IBM Corporation
- SAP SE
- GE Healthcare Inc.
- Oracle Corporation
- Microsoft Corporation
- AirStrip Technologies Inc.
- Medtronic, Inc.
- Allscripts Healthcare Solutions, Inc.
- Boston Scientific Corporation.
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Analyst View:
The demand for better patient outcomes more affordable care and increased healthcare efficiency is fuelling the target market expansion. The ageing population, an increase in chronic illnesses, and technological developments are all driving the market ahead.
Market Dynamics:
Drivers:
Advancements in Technology and IoT Integration
- Rapid advancements in technology, including the Internet of Things (IoT) artificial intelligence (AI) and big data analytics are driving the growth of connected healthcare. These technologies enable the development of sophisticated health monitoring devices, predictive analytics tools, and smart healthcare solutions that enhance patient care and operational efficiency.
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Market Trends:
Growing Demand for Telemedicine and Remote Care
- One major factor propelling the connected healthcare market is the growing need for telemedicine and remote care solutions. The COVID-19 pandemic increased the uptake of telehealth services by emphasizing the necessity of ongoing patient monitoring and remote consultations.
Segmentation:
Connected Healthcare Market is segmented based on Function, Type, Application, and Region.
Function Insights
- Telemedicine is anticipated to boost the growth for target market as Telemedicine offers patients the convenience of receiving medical consultations, follow-ups, and even some diagnostic services from the comfort of their homes.
Type Insights
- mHealth services is anticipated to boost the growth for target market as mHealth services include remote monitoring, telehealth consultations, health management apps, and wellness programs, all of which leverage mobile technology to provide healthcare solutions.
Application Insights
- Monitoring and treatment is anticipated to boost the growth for target market as the primary reason for the dominance of the monitoring and treatment segment is its direct impact on patient management and health outcomes. Connected Healthcare in this segment allow for real-time monitoring of vital signs, chronic disease management, and timely intervention.
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Recent Development:
- In August 2023, Apollo Hospitals has launched a Pan-India expansion of their one-of-a-kind connected care program, Apollo Connect. Apollo Hospitals hopes to accomplish this by building the most interconnected healthcare ecosystem in India, enabling medical facilities and assisted living facilities in both metropolises and rural areas to provide comprehensive and excellent patient care. Apollo Connect has launched services including eICU, diagnostics, surgical consultations, remote monitoring, clinical & quality training, as well as certification assistance, throughout India in order to significantly benefit this linked care partner network.
Regional Insights
- North America: Due to the robust healthcare system, high adoption of digital health solutions, and sophisticated technological infrastructure in North America, the connected healthcare market is flourishing and growing quickly.
- Asia Pacific: A growing need for accessible and reasonably priced healthcare solutions is defining the Asia-Pacific market and propelling the uptake of telemedicine, mobile health apps, and remote monitoring systems.
Browse Detail Report on "Connected Healthcare Market Size, Share, By Function (Telemedicine, Home Monitoring, Assisted Living, and Clinical Monitoring), By Type (e-Prescription, mHealth Services, and mHealth Devices), By Application (Diagnosis & Treatment, Monitoring Applications, Education & Awareness, Wellness & Prevention, Healthcare Management, and Others), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/Global-Connected-Healthcare-Market-By-581
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