Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What Are The Generous Growth Numbers For The Global Connected Health & Wellness Solutions Market?
The connected health and wellness solutions market size has seen a substantial growth in recent years, soaring from $68.1 billion in 2024 to an astonishing $82.61 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 21.3%. This favorable growth in the historic period can be credited to the aging population, increasing prevalence of chronic diseases, steep uptick in digital health adoption, enhancements in healthcare costs, efficiency, remote patient monitoring, and surging demand induced by the pandemic.
Projected into the future, the market size is expected to surge exponentially. It is forecasted to grow to an eye-opening $195.75 billion in 2029 at a CAGR of 24.1%. The growth in the forecast period is likely to be spurred on by increasing adoption of personalized medicine, health data interoperability, value-based care models, a sharpening focus on mental health and well-being, healthcare access, equity, growing cybersecurity measures, data protection, and burgeoning demand for population health management. Key trends in this forecast period include the expansion of IoT devices and sensors, artificial intelligence in healthcare, advancements in wearable health technology, technological advancements, and product innovations.
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What Are The Key Drivers Propelling The Connected Health And Wellness Solutions Market?
The steep increase in the adoption of mhealth devices is driving the growth of the connected health and wellness solutions market. Applications such as telemedicine and mobile monitoring installed on mhealth devices assist in tracking health records and provide valuable information to healthcare practitioners. mhealth devices include fitness trackers, smartphones, smartwatches, and more. According to International Data Group, it is forecasted that worldwide shipments of wearable devices will rebound strongly in 2023, reaching a total of 504.1 million units, representing 2.4% year-over-year growth. This is largely driven by sustained demand for popular products like earwear and smartwatches. Consequently, the increase in spending on wearable devices will boost the demand for mhealth devices and in turn propel the growth of the connected health and wellness solutions market.
What Are The Prominent Segments Of Global Connected Health & Wellness Solutions Market?
The connected health and wellness solutions market is formally segmented into these categories:
1. By Product: Personal Medical Devices, Wellness Products, Software & Services
2. By Function: Clinical Monitoring, Telehealth
3. By Application: Diagnosis & Treatment, Wellness and prevention, Monitoring, Other Applications
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Which Giants Command The Connected Health And Wellness Solutions Market Landscape?
Major companies operating in this domain includes industry giants such as Omron Healthcare Inc., Koninklijke Philips N.V., GE Healthcare Technologies Inc., Drägerwerk AG & Co. KGaA, Fitbit LLC, Abbott Laboratories, Apple Inc., Garmin Ltd., Boston Scientific Corporation, Medtronic PLC, Masimo Corporation, ResMed Inc., NXGN Management LLC, Allscripts Healthcare LLC, Cerner Corporation, IBM Corporation, AgaMatrix Inc., Microlife AG, Aerotel Medical Systems Ltd., Mckesson Corporation, BioTelemetry Inc., Honeywell International Inc., Qualcomm Life Inc., and iHealth Labs Inc.
What are The Latest Trends Shaping the Connected Health And Wellness Solutions Market?
A key trend gaining traction in the connected health and wellness solutions market is the increasing adoption of digital health technologies. They make use of software, computing platforms, sensors, and more to provide accurate health information to patients. Demand for these technologies has surged in recent years. According to Rock Health’s 2022 Digital Health Consumer Adoption Survey, 80% of respondents reported having accessed care via telemedicine at some point in their lives, an increase from 72% in 2021.
Which Region Spearheads The Connected Health And Wellness Solutions Market?
In 2024, North America was the largest region in the connected health and wellness solutions market. However, the Asia-Pacific region is expected to be the fastest-growing in the forecast period. Meanwhile, the regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Connected Health And Wellness Solutions Market Report 2025 Offer?
Connected health and wellness solutions primarily focus on maximizing healthcare resources by employing technology and devices which provide accurate health information. This includes devices such as BP monitors, glucose monitors, body analyzers, heart rate monitors, and fitness devices. The Connected Health and Wellness Solutions Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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