Connected Health and Wellness Solutions Market – By Product (Software & Services, Personal Medical Devices, Wellness Products), Function (Telehealth, Clinical Monitoring), Application (Wellness and Prevention, Monitoring), End-use & Forecast, 2024 – 2032

Connected Health and Wellness Solutions Market Size

Connected Health and Wellness Solutions Market size was valued at USD 54.1 billion in 2023 and is expected to exhibit growth at a CAGR of 20.9% from 2024 to 2032. The market is experiencing robust growth driven by technological advancements and increasing consumer demand for personalized accessible healthcare.
 

Key trends include the integration of internet of things (IoT) technologies and artificial intelligence (AI) to enhance patient monitoring and care delivery. Wearable medical devices, such as smartwatches and fitness trackers, are becoming mainstream, providing real-time health data and enabling proactive management of chronic conditions. For instance, Fitbit and Apple Watch offer features like heart rate monitoring and ECG capabilities, which contribute to early detection of health issues.
 

Telehealth has gained significant traction, accelerated by the COVID-19 pandemic, as it allows patients to consult with healthcare providers remotely. Platforms like Teladoc and Amwell offer virtual consultations, making healthcare more accessible, especially in remote or underserved areas. Additionally, AI-driven solutions are improving diagnostic accuracy and treatment plans. Companies like IBM Watson Health leverage AI for personalized medicine and predictive analytics, enhancing treatment outcomes and efficiency.
 

The rise of data analytics in connected health is another notable trend. Health data platforms, such as HealthTap and MyFitnessPal, aggregate and analyze user data to offer personalized health insights and recommendations. This data-driven approach empowers individuals to make informed health decisions and engage more actively in their wellness.
 

Furthermore, the focus on interoperability is growing, with efforts to integrate disparate health data systems. This is exemplified by initiatives like the CommonWell Health Alliance, which aims to improve data exchange among various health systems to ensure comprehensive patient care.
 

Connected health and wellness solutions refers to technologies and services that leverage digital tools, data analytics, and IoT devices to enhance healthcare delivery and personal wellness. These solutions encompass a range of applications, including wearable health monitors, telemedicine platforms, and health data management systems. By integrating real-time data collection, remote monitoring, and virtual consultations, they aim to improve patient outcomes, streamline healthcare processes, and promote proactive health management. This approach facilitates personalized care, increases accessibility, and empowers individuals to take an active role in their health and wellness.
 

Connected Health and Wellness Solutions Market Trends

The rising demand for remote health monitoring is a significant driver for the market, reflecting a shift towards more personalized and accessible healthcare. As healthcare costs rise and the need for chronic disease management grows, patients and providers increasingly seek solutions that enable real-time health tracking outside traditional clinical settings.
 

• This trend is fueled by the proliferation of wearable devices, such as smartwatches and fitness trackers, which offer continuous monitoring of vital signs like heart rate, blood pressure, and glucose levels. For instance, detracks like the Apple Watch and Fitbit not only track physical activity but also offer advanced health metrics and alerts for potential issues, prompting early intervention and reducing hospital visits.
   
• Additionally, remote patient monitoring (RPM) tools are becoming integral to managing chronic conditions such as diabetes and hypertension. Systems like the Medtronic diabetes management platform and Philips’ remote patient monitoring solutions provide continuous data to healthcare providers, enabling timely adjustments to treatment plans and improving patient outcomes.
   

Connected Health and Wellness Solutions Market Analysis

Based on product, the market is classified into software & services, personal medical devices, and wellness products. The software & services segment generated the highest revenue of USD 26.6 billion in 2023.
 

• This expansion is driven by the growing demand for value-based healthcare systems and the increasing popularity of online health subscriptions and information downloads. For example, in October 2023, Ricoh USA, Inc. launched RICOH Remote Patient Monitoring (RPM) Enablement, a robust managed services solution designed for healthcare systems.
   
• This new service aims to optimize RPM workflows, boost efficiency and sustainability, and improve experiences for both patients and care teams. Additionally, rising awareness and a preference for personalized and convenient medical services are fueling the growth of this segment within the connected health and wellness sector.
   

Based on function, the connected health and wellness solutions market is categorized into telehealth, and clinical monitoring. The telehealth segment generated the highest revenue of USD 31.7 billion in 2023.
 

• This surge is driven by several key factors. Firstly, the widespread adoption of telehealth services, accelerated by the COVID-19 pandemic, has demonstrated their effectiveness and convenience, prompting healthcare providers and patients to continue leveraging these solutions. Advancements in technology, such as improved video conferencing tools and secure data exchange platforms, further enhance telehealth’s appeal.
   
• Additionally, supportive regulatory changes and expanded reimbursement policies are facilitating broader implementation. The increasing need for accessible healthcare, especially in remote or underserved areas, coupled with the growing preference for virtual consultations, is fueling this rapid growth. As telehealth becomes integral to modern healthcare, its role in improving patient outcomes and operational efficiency is set to expand.
   

Based on application, the connected health and wellness solutions market is divided into wellness and prevention, diagnosis & treatment, monitoring, and other applications. The wellness and prevention segment generated the highest revenue of USD 21.0 billion in 2023.
 

• Increasing awareness about health and wellness is expected to drive segment growth. Additionally, the rise in digital health trends contributes significantly to this expansion. For example, in January 2022, OMRON Healthcare, Inc. launched global remote patient monitoring services featuring an advanced mobile app and connected blood pressure monitors. This initiative broadens their digital health services, providing comprehensive support throughout customers' heart health journeys. Such developments are anticipated to boost market growth.
   
• Furthermore, technological advancements, including wearable devices and health trackers, allow individuals to easily monitor and manage their health metrics, thereby accelerating the growth of the wellness and prevention segment within the market.
   

Based on end-use, the connected health and wellness solutions market is segmented into healthcare facilities and homecare settings. The healthcare facilities segment dominated the market in 2023 and is anticipated to reach USD 152.1 billion by the end of forecast period.
 

• This growth is driven by the increasing use of digital health technologies in healthcare settings to enhance patient care and outcomes. Hospitals and clinics are progressively investing in connected health solutions, such as remote patient monitoring, telemedicine, and digital health platforms, to improve healthcare service delivery. These technologies allow healthcare providers to monitor patients remotely, conduct virtual consultations, and access real-time patient health data, thereby boosting efficiency and care quality.
   
• Moreover, the adoption of connected health and wellness solutions in healthcare facilities helps streamline processes and lower costs. By utilizing digital health technologies, hospitals and clinics can better manage resources, reduce readmissions, and improve patient engagement.
   
• The move towards value-based care and a focus on preventive healthcare are accelerating the uptake of these solutions, as they support personalized and proactive patient care. The hospitals and clinics segment is expected to keep growing in the market as healthcare organizations continue to embrace digital transformation to address evolving patient needs and enhance care delivery.
   

North America connected health and wellness solutions market accounted for USD 20 billion market revenue in 2023 and is anticipated to grow at CAGR of 19.8% between 2024 – 2032 period.
 

• The market is driven by several factors, including the increasing adoption of digital health technologies by healthcare providers and consumers. The region's advanced healthcare infrastructure supports the integration of remote patient monitoring, telemedicine, and health data platforms. Regulatory support and favorable reimbursement policies further stimulate market growth.
   
• Additionally, rising consumer awareness of health and wellness, coupled with the growing prevalence of chronic conditions, fuels demand for personalized and accessible healthcare solutions. Technological innovations in wearables and health tracking devices also contribute to the market’s expansion, enhancing patient engagement and care outcomes.
   

U.S. connected health and wellness solutions market accounted for USD 18.1 billion market revenue in 2023 and is estimated to hold substantial share between 2024 – 2032 period.
 

• The market in the U.S. captured a substantial portion of the North American market, driven by strategic actions from leading companies like IBM, Microsoft, and Philips. These firms are actively investing in research and development, acquisitions, and partnerships.
   
• For example, in August 2022, Medtronic PLC entered a strategic alliance with BioIntelliSense, a leader in continuous health monitoring. This partnership granted Medtronic exclusive rights to distribute BioIntelliSense's BioButton, a multi-parameter wearable designed for continuous, connected monitoring in the U.S. hospitals and during 30-day post-acute care transitions from hospital to home.
   

UK connected health and wellness solutions market is projected to grow remarkably in the coming years.
 

• The market is driven by the growing demand for personalized and preventive healthcare. This growth is fueled by the adoption of digital health technologies, such as wearables and mobile apps, which empower patients to take a more active role in managing their health.
   
• For example, in April 2023, BT Group launched a virtual wards program aimed at supporting healthcare providers across the UK. This initiative underscores BT's commitment to partnering with the National Health Service (NHS) to develop innovative, patient-focused services that enhance efficiency, safety, and overall care quality.
   

Japan holds a dominant position in the Asia Pacific connected health and wellness Solutions market.
 

• The market in Japan is projected to expand during the forecast period due to several key factors, including an aging population, rising healthcare costs, strategic partnerships, and the growing demand for remote monitoring and personalized care.
   
• For example, in November 2023, Tochtech Technologies collaborated with Mediva Inc. on a pioneering project in Japan. This initiative seeks to validate the effectiveness of Tochtech’s Vericare platform in improving safety and health outcomes for the elderly, with a particular emphasis on enhancing their quality of life.
   

Connected Health and Wellness Solutions Market Share

The market is characterized by the presence of several key players and a focus on technological innovation and strategic partnerships. Companies are investing in AI-driven analytics platforms that provide deeper insights into disease patterns and patient outcomes.
 

Connected Health and Wellness Solutions Market Companies

Prominent players operating in the connected health and wellness solutions industry include:

• Abbott
• AliveCor, Inc.
• Apple
• Babylon Healthcare Services Ltd
• DexCom, Inc.
• Doctor on Demand
• Drägerwerk AG & Co. KGaA
• Fitbit
• Garmin Ltd.
• GE Healthcare
• Koninklijke Philips N.V.
• Masimo Consumer Health
• Medtronic
• Omron Corporation
• Teladoc Health Inc.
   

Connected Health and Wellness Solutions Industry News:

• In April 2024, Tembo Health, a telemedicine provider specializing in services for seniors, has formed a strategic partnership with Springwell Senior Living, a senior community in northwest Baltimore with 250 residents. Springwell Senior Living, which offers independent living, assisted living, and memory care, will incorporate Tembo Health's telemedicine services to offer residents convenient and accessible healthcare solutions.
   
• In March 2024, Garmin Malaysia introduced the HRM-Fit, a heart rate monitor tailored specifically for women. Featuring a clip-on design, it can be conveniently attached to medium- and high-support sports bras, providing optimal comfort while accurately tracking real-time heart rate and workout data.
   

The connected health and wellness solutions market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Software & services
  • Online subscription
  • Fitness & wellness apps
  • Other software and services
• Personal medical devices 
  • Insulin pump
  • BP monitor
  • Glucose monitor
  • Pulse oximeter
  • Other personal medical devices
• Wellness products
  • Digital pedometer
  • Body analyzer
  • Heart rate monitor 
  • Sleep quality monitor
  • Other wellness products

Market, By Function

• Telehealth
• Clinical monitoring

Market, By Application

• Wellness and prevention
• Diagnosis & treatment
• Monitoring
• Other applications

Market, By End-use

• Healthcare facilities
• Homecare settings

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa