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Introduction to Connected Health DeviceConnected health device are tools of digital technology to provide access and to share information as well as data across healthcare system. These healthcare systems are nothing but are the hospitals, clinics, medical stores etc. As per the current market trends people are trying to raise their living standard. Due to this, they are unable to dedicate the required attention towards their personal health. Hence there is a significant increase for the health related minor and major issues. Connected health devices help to connect patient and doctors remotely. Connected healthcare devices are also known by terms like telecare, telehealth, telemedicine, mhealth, digital health and e-health. These devices are available in various forms and sizes according as per the customer’s requirement. However, such devices there has long way to establish in the market as companies have to build strong brand image in the market.
UK, with more than 100,000 health apps, rapid growth in wearable and 70 % of the UK population who now owes a smartphone and increase in use of digital technology will revolutionize the future of health and social care.”
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Major Players:
The prominent market players exist in global connected healthcare market are: A&D Medical, Aerotel, Animas Corporation, BL Healthcare, Body Media Inc., Boston Scientific, DexCom Inc., Docobo, eHIT Ltd, eDevice, FitSense Technology, iMetrikus, Instromedix (Card Guard), Masimo Corporation, Medtronic, Microlife, Nellcor, Nonin Medical, Omron, PHD Medical, Philips, St. Jude Medical, Tunstall, ViTelNet, and WebVMC.
Market Segmentation:
For the purpose of this study, market research future has segmented the digital healthcare market by digital healthcare types, digital healthcare devices, and its applications. Digital healthcare are categorized into four subgroups mainly: Telehealth, Telecare, wellness/Fitness and e-health which have their own subgroups. Digital Healthcare devices are like dental examination cameras, Digital ECG and Holters, Quell Relief, pedometer fitness apps, online healthcare insurance, wearable band and many more.
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Market Growth Influencer:
The Global e-Healthcare market growth is growing with the rapid growth rate. This high growth is due to the increasing usage of smartphones is increasing. With the increased usage of digital technology, number of health apps on IOS and Android has more than doubled in 2.5 years to mover 1,00,000 Furthermore, this growth rate is also enhance by the ability of providing the quick service is required by consumers to save theirs time from his busy schedule.
In this study, market research future has found that more than 25% of users having health issues would first try a device with usability to track their health condition and progress. Also, 27 percent of mobile phone users would prefer a personalized plan to help guide them through their journey to better health.
Increasing disposable incomes, growing of usage of technology and growing rate of production of technical equipment like Asthma management kit, Valedo Management kit, Health patch MD Smart medical devices, Digital Pill, Google’s Smart Contact lenses, and Qardiocore (Connected ECG monitor) will drive the growth in medical field in future.
Regional Analysis:
Significant mhealth market growth predicted global revenue to be 50-55% per year. In 2013 the mHealth value recorded was $2.4 billion and thus forecasted that this will reach to approximate $21.5 billion after 2018. In European market also the predicted highest annual growth rate is 50-60%.
The factors which will drive the increase in use of health apps would be easy to use, simple in design and give guarantee of data security.
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