Connected Health and Wellness Devices Market
The global connected health and wellness devices market size was valued at USD 123.3 bn in 2020 and is expected to grow at a CAGR of 14.7{fc1509ea675b3874d16a3203a98b9a1bd8da61315181db431b4a7ea1394b614e}.
NEW YORK CITY, NEW YORK, UNITED STATES, March 13, 2023 /EINPresswire.com/ — 👉 Market Overview:
Connected health and wellness devices are electronic devices that are connected to the internet and used to monitor and track health and fitness data. These devices can include wearable fitness trackers, smartwatches, blood pressure monitors, and other health-related devices. The product launches by regional and international players are driving the market growth significantly.
The demand for connected health and wellness devices is increasing as more consumers seek to monitor and track their health and fitness data. In addition, advances in technology are leading to the development of more advanced devices that offer greater accuracy and functionality. The largest market for connected health and wellness devices is currently North America, which is home to several major players in the market. The fastest-growing market is expected to be Asia Pacific, due to the increasing adoption of these devices in emerging markets such as India and China.
👉 Market Evaluation:
According to a recent report by Market.us, the global connected health and wellness devices market size was valued at USD 123.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.7{fc1509ea675b3874d16a3203a98b9a1bd8da61315181db431b4a7ea1394b614e} from 2021 to 2028.
For more insights on the historic market data (2017 to 2022) and forecast market size (2023 to 2033) – Request a sample report
👉 Key Takeaways:
– The market for connected health and wellness devices is being driven by an increasing focus on health and wellness among consumers, as well as advances in technology that have made these devices more accessible and affordable.
– Major players in the market include Apple Inc., Fitbit, Samsung, and Garmin Ltd.
– The market is expected to continue to grow rapidly in the coming years, with increasing adoption of connected devices in healthcare and the development of more advanced technologies.
👉 Connected Health and Wellness Devices Market Scope:
By type, the market is segmented into Personal Medical Devices, Wellness Products, and Software & Services. By application, the market is divided into Hospitals, Individual Customers, and Others.
Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Major players profiled in the report include Omron Healthcare Inc., McKesson Corporation, Philips Healthcare Company, GE Healthcare Inc., Draeger Medical Systems Inc., Fitbit Inc., St. Jude Medical Inc., Medtronic Plc, Aerotel Medical System Ltd., Boston Scientific Corporation, Body Media Inc., Garmin International Inc., Microlife Corporation, Masimo Corporation, AgaMatrix Inc., and Apple Inc.
Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2022) and forecast market size (2023 to 2033) – Download a Sample Report @ https://market.us/report/connected-health-and-wellness-devices-market/request-sample/
👉 Market Dynamics
Drivers:
– Increasing focus on health and wellness among consumers
– Advances in technology that have made these devices more accessible and affordable
– Increasing adoption of connected devices in healthcare
Restraints:
– Concerns over data privacy and security
– Limited awareness and adoption of connected health and wellness devices in some regions
– High cost of some devices
Opportunities:
– Growing demand for connected health and wellness devices in emerging markets
– Increasing investment in research and development to develop more advanced devices
– Potential for connected health and wellness devices to be integrated into healthcare systems and used to improve patient outcomes
Challenges:
– Intense competition in the market
– Difficulty in developing devices that are accurate and reliable
– Concerns over data privacy and security
👉 Segmentation Assessment
Type
Personal Medical Devices
Wellness Products
Software & Services
Application
Hospitals
Individual Customers
Others
Key Market Players included in the report:
Omron Healthcare Inc.
McKesson Corporation
Philips Healthcare Company
GE Healthcare Inc.
Draeger Medical Systems Inc.
Fitbit Inc.
St. Jude Medical Inc.
Medtronic Plc
Aerotel Medical System Ltd.
Boston Scientific Corporation
Body Media Inc.
Garmin International Inc.
Microlife Corporation
Masimo Corporation
AgaMatrix Inc.
Apple Inc.
👉 Recent Development:
In 2021, Apple announced the launch of its new Apple Watch Series 7, which includes several new health and fitness features such as improved fall detection and cycling tracking. The company also announced a partnership with several major healthcare systems to allow users to share their health data with their healthcare providers.
👉 FAQs:
Q: What is connected health and wellness devices?
A: Connected health and wellness devices are electronic devices that are connected to the internet and used to monitor and track health and fitness data.
Q: What are the benefits of using connected health and wellness devices?
A: Connected health and wellness devices can help users monitor and track their health and fitness data, providing them with valuable insights and allowing them to make more informed decisions about their health.
Q: What is driving the market for connected health and wellness devices?
A: The market is being driven by an increasing focus on health and wellness among consumers, as well as advances in technology that have made these devices more accessible and affordable.
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