Rising aging population, advanced connectivity solutions, maturing technology and evolving care models are the major drivers for global connected healthcare market.
Global Connected Healthcare Market Outlook 2024
With the increase in urban population that demand high quality healthcare services, the private sector is now a lucrative business segment. As a result, investment opportunities for medical device manufacturers, m-Health service and m-Health device organizations as well as health insurance companies have opened up. The market of connected healthcare is expected to account USD 150 Billion by the end of 2024 and further the market is predicted to showcase a tremendous CAGR of 30% over the forecast period i.e. 2016-2024.
Geographically, Asia-Pacific has unique opportunities for digitalized healthcare. Asia-Pacific connected healthcare market is one of the fastest growing markets across the globe on the back of rising healthcare expenditure and advancement in connectivity infrastructure. The market growth was stimulated by rapid expansion of the healthcare sector and IT industry in developing countries such as China, India, Singapore and others. Healthcare industry in APAC is expected to continue to grow rapidly over 2017 as well. For instance, China’s and India’s healthcare service revenues increased by 15% and 10%, respectively, in 2016 alone, resulting in the soaring demand for connected healthcare.
IoT Driven Connected Care Solutions
With the enormous stride in networking, digitalization, mobility, analytics, cloud and sensor technologies, it is risk free to predict that modern healthcare will be driven by connected technologies and Connected Care. Leveraging the idea of connected healthcare variety of devices and solutions has been discovered, for instance, eICU, remote monitoring solutions, wearable etc. Patient-Centered Analytics, rise in remote health monitoring devices and mobile apps are the ongoing trends in smart healthcare that can be achieved by connected interoperable infrastructure solutions.
Risk factors associated with connected healthcare:
Data security, unauthorized access, encryption, hacking and cyber attacks are the hot topics in the domain of security and compliance. Rising penetration of Internet of Things (IoT) in healthcare is giving rise to complexity of saving and managing the data. Data management issues and dearth of connectivity infrastructure in under developed nations is restraining the growth of connected healthcare market.
“Global Connected Healthcare Market Outlook 2024” contains detailed overview of the global connected healthcare market in terms of market segmentation based on device type, function, application and by target audience.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global connected healthcare market which includes profiling of companies of IBM Corporation, CGI, Accenture plc, SAP SE, Oracle Corporation, GE Healthcare, and Microsoft Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global connected healthcare market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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