Connected Care Market Report 2022: Covid-19 Impact Analysis, Application Development Potential, Trends, Competitive Market Share & Forecast 2028

The Global Connected Care Market was estimated at USD 37.29 Billion in 2021 and is projected to reach USD 174.55 Billion by 2028, growing at a CAGR of 24.67% during the analysis period.

Connected Care also called Technology Enabled Care that accessing the quality of healthcare through using modern technology. It helps to provide electronic communication between the patients and the healthcare provider. The connected care includes remote monitoring of the patient, secure e-mail communication among the clinicians and their patients, and telehealth service. In the connected care service, healthcare providers use iPads, smartphones, and laptops to easily communicate with patients. Owing to this connected care service patients can receive care at home, or in their workplace. Thus, the number of patients who adopted connected care technologies for a minor illness provides growth for the market.

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Market Dynamics:
Driver:
The market of connected care is growing in developed and developing countries owing to the penetration of the internet is high, growing government investment in the healthcare sectors, the growing aging population, rising the rate of the incidence of injuries among all age groups, increasing the number of the road accidents can be considered as a fatal or non-fatal injury. Additionally, a growing concern among people about the prevalence of chronic diseases supports the growth of the connected care market.

Opportunities:
The growing adoption of advanced technology in the healthcare sector provides a lucrative opportunity for the connected care market during the forecast period. Data security is a major issue faced by several industries including healthcare. Thus, the healthcare sector uses blockchain technology to handle and store the information of patients efficiently and securely. In addition to this the major players investing in the research and development activity of the novel technology that is used in the healthcare sectors. For instance, MyClinic.com is the telemedicine website launched by Medical chain to provide doctor consultation services to patients through videos. This factor is expected to offer growth for the connected care market in the projected periods.

Market Segmentation For Connected Care

By Type, mHealth services dominate the connected care market. Increased smartphone adoption rate allows people to access a variety of healthcare services via wireless technology, resulting in increased acceptance of mHealth services. According to the State of Mobile Internet Connectivity Report 2020, at the end of 2019, about 3.8 billion people were utilizing mobile internet, up 250 million from the previous year.

By Function, Telemedicine dominates the function segment of the Connected Care Market. Due to factors such as the surging adoption of telemedicine services. For instance, according to the Multidisciplinary Digital Publishing Institute (MDPI) journals survey, up to 89% of patients prefer telemedicine as an acceptable form of medical care.

By Application, Wellness & Prevention is dominating the Connected Care Market. Wellness and prevention are some of the most used applications of connected care. The option to get experts' opinions from home has captured a large audience.

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By Type
• mHealth services
• mHealth devices
• e-Prescription

By Function
• Remote patient monitoring
• Clinical Monitoring
• Telemedicine
• Others

By Application
• Diagnosis & Treatment
• Monitoring Applications
• Wellness & Prevention
• Healthcare Management
• Others

Regional Analysis of Connected Care Market
North America is dominating the Connected Care Market. The market size in North America stood at USD 27.20 billion in 2020. The region dominated the global market in 2020 due to increasing healthcare costs, growing adoption of smartphones, rising demand for connected healthcare products, and remote patient monitoring. North American healthcare system is always adopting relatively new technologies and practice methods which includes connected care systems. The majority of the population uses digital platform which allows them to operate various tasks from home or elsewhere. Such a trend is helpful to boost the connected care market. The options of healthcare treatment remotely are increasing in the United States and Canada. For instance, in May 2020, According to Mckinsey, there is an enormous upsurge in the use of telehealth services in the U.S. The adoption of telehealth services by consumers increased by 46% in 2020 and 11% in the previous year 2019 to avoid exposure to covid-19 and substitute the canceled visits.

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By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Players Covered in Connected Care market are:
• Allscripts Healthcare LLC. (U.S.)
• Cerner Corporation (U.S.)
• Koninklijke Philips N. V (Netherlands)
• McKesson Corporation (U.S.)
• Apple Inc. (U.S.)
• Omron Corporation (Japan)
• General Electric Company (U.S.)
• Fitbit Inc. (U.S.)
• IBM Corporation (U.S.)
• NXGN Management LLC and other major players.

Key Developments of Connected Care Market

• April 2021 - The acquisition of Varian Medical Systems, Inc. by Siemens Healthineers AG was completed successfully. Siemens Healthineers, in collaboration with Varian, is developing "EnVision," an all-encompassing digital, diagnostic, and therapeutic environment that incorporates treatment management. AI-assisted analytics will be used by Siemens Healthineers to boost the creation and delivery of data-driven precision care.
• July 2020 - Teladoc Health, Inc., a virtual care leader, announced the completion of its acquisition of InTouch Health. This purchase will deliver cutting-edge telehealth capabilities that will connect providers in difficult medical settings. Teladoc, on the other hand, will integrate the care experience across outpatient and home care settings, ensuring more access to high-quality treatment and improved health outcomes.
• July 2020, Mount Sinai Health System and OMRON Healthcare, Inc. cooperated. Patients at high risk were able to use VitalSight to monitor their blood pressure at home as a result of this partnership.

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Table of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Function
 3.3 By Application
Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Chapter 5: Connected Care Market by Type
 5.1 Connected Care Market Overview Snapshot and Growth Engine
 5.2 Connected Care Market Overview
 5.3 mHealth services
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 mHealth services: Grographic Segmentation
 5.4 mHealth devices
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 mHealth devices: Grographic Segmentation
 5.5 e-Prescription
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 e-Prescription: Grographic Segmentation
To Be Continued………

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