BUSINESS INSIGHTS : The latest news, analysis, and trends about protection and care

By 2022, the volume of the global connected health market is set to exceed 53 billion euros, having experienced an average annual growth rate between now and then of over 30%. Investors should be able to generate profits from this exceptional situation, while healthcare and management are set to become more efficient.

The connected health market, which accounted internationally for 6.8 billion US dollars (or just over 6 billion euros) in 2015, is expected to develop significantly, and exceed 59 billion US dollars, or just under 53 billion euros, by 2022. Over the next five years, 75 million people in the world will make use of this type of solution and facilities for their health and well-being.

These figures have emerged from a report published last March by the Market Research Future agency, which includes research carried out by the authors as well as input from experts and opinion leaders in the sector.

30.84% average annual growth

Specialists estimate that for the period from 2016 – 2022, average annual growth should reach an astounding 30.84%. Analysts have divided the market into three sub-sectors, according to medical technology news site Medgadget electronic prescriptions, connected health equipment and connected health services.

The last of the three categories represents some 56.7% of the total market, and includes solutions offered by health-care and well-being professionals to improve how they handle their patients in terms of monitoring, diagnostics and treatment.

More than 70% of patients already use digital services

The report states that in the USA, 70%–80% of patients already use digital services of this kind, including apps and tools made available by doctors, pharmacies and life insurances.

When the two other segments are factored in, the connected health market is set to experience impressive growth, if specialists are to be believed. Investors are already showing interest, but growth of this kind will also enable patients and health-care professionals to benefit from innovations that will help to increase the efficiency and the management of the care provided.

 

Allianz Partners

Contact
Linked Topics
About Allianz Partners Business Insights