The Connected Healthcare Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Connected Healthcare Global Market Report 2024, The connected healthcare market size has grown exponentially in recent years. It will grow from $124.39 billion in 2023 to $158.37 billion in 2024 at a compound annual growth rate (CAGR) of 27.3%. 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 $424.8 billion in 2028 at a compound annual growth rate (CAGR) of 28.0%. 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 growing integration of IT in healthcare is significantly contributing to the growth of the connected healthcare market. Connected healthcare uses the internet and other wireless technology to gather patients’ data and help patients connect with their caregivers, which promotes healthcare monitoring remotely using automated systems. Connected healthcare requires healthcare IT integration software and its integration into healthcare devices and applications for smooth function and maintaining of vast medical data, which enhances remote healthcare management. For instance, in May 2021, according to a survey conducted among 112 provider chief financial officers and financial and revenue cycle executives by The Healthcare Financial Management Association, a US-based healthcare association, stated that the deployment of automation technologies in hospitals increased three times from 2020 to 2021, where 50% of hospitals had deployed automation technologies in 2021 compared to 15% of hospitals in 2020. Therefore, the growing integration of IT in healthcare is expected to propel the growth of the connected healthcare market over the forecast period.
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The connected healthcare market covered in this report is segmented –
1) By Type: e-Prescription, mHealth Services, mHealth Devices
2) By Function: Remote Patient Monitoring, Clinical Monitoring, Telemedicine, Other Functions
3) By Application: Monitoring Applications, Diagnosis And Treatment, Education And Awareness, Healthcare Management, Wellness And Prevention
4) By End Users: Hospitals And Clinics, Home Monitoring
Major companies operating in the connected healthcare market are focusing on the development of technologically advanced products such as ZAIDYN Connected Health solution to enhance remote patient monitoring and improve healthcare outcomes. ZAIDYN Connected Health assists pharmaceutical firms, healthcare providers, and payers in innovating in order to better recognize unmet needs, engage patients, and enhance health outcomes. For instance, in October 2023, ZS Associates Group, Inc., a US-based management consulting and technology firm, launched the AI-powered ZAIDYN Connected Health solution as part of the ZAIDYN by ZS platform. It provides three product suites that help bridge gaps in healthcare and build a patient-centric future: health insights, patient engagement, and connected research.
The connected healthcare market report table of contents includes:
1. Executive Summary
2. Connected Healthcare Market Characteristics
3. Connected Healthcare Market Trends And Strategies
4. Connected Healthcare Market – Macro Economic Scenario
5. Global Connected Healthcare Market Size and Growth
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26. South America Connected Healthcare Market
27. Brazil Connected Healthcare Market
28. Middle East Connected Healthcare Market
29. Africa Connected Healthcare Market
30. Connected Healthcare Market Competitive Landscape And Company Profiles
Top Major Players:
- Allscripts Healthcare Solutions Inc
- Cerner Corporation
- Koninklijke Philips N.V
- International Business Machines Corporation
- AirStrip Technologies LP
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