The North America Connected Health And Wellness Solutions Market is expected to witness market growth of 18.7% CAGR during the forecast period (2021 2027).
Telemedicine services are becoming more popular as governments across the world restrict residents' ability to leave their homes. Individuals are exploring different measures to monitor their wellbeing and only approach doctors in the event of an emergency, while hospitals' entire focus is on treating COVID-19 patients. As a result, demand for smart wearables, particularly smart watches, have significantly increased in recent months.
Consumer data is being leveraged by a new generation of digitally connected solutions, such as wearables, devices, and software platforms, in order to create intelligent feedback loops and offer users with personalized therapeutic interventions and recommendations for their mental and physical health, as well as encourage positive behavior both in the real-time and long term. These connected health and wellness solutions might be one-of-a-kind and can improve numerous aspects of life and public health.
The American Telemedicine Association, an advocacy group that encourages the utilization of advanced and remote medical technologies, describes telemedicine as the use of medical information and records exchanged from one site to another. The process is conducted through electronic communications to enhance a patient's clinical health status, which includes a growing number of applications and services that use smartphones, two-way video, email, wireless tools, and other types of telecommunications technology. In addition, The Federation of State Medical Boards defines telemedicine as the practice of medicine between a doctor in one location and a patient in another location via electronic communications, information technology, or other means, with or without intervening healthcare professionals.
The US market dominated the North America Connected Health And Wellness Solutions Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $28,720.8 million by 2027. The Canada market is anticipated to grow at a CAGR of 21.4% during (2021 - 2027). Additionally, The Mexico market is expected to exhibit a CAGR of 20.3% during (2021 - 2027).
Based on Product, the market is segmented into Personal Medical Devices, Wellness Products, and Software & Services. Based on Personal Medical Devices Type, the market is segmented into Insulin Pumps, BP Monitor, Glucose Monitor, Personal Pulse Oximeter, and Others. Based on Wellness Products Type, the market is segmented into Digital Pedometer, Heart Rate Monitor, Body Analyzer, Sleep Quality Monitor, and Others. Based on Software & Services Type, the market is segmented into Fitness & Wellness App, Online Subscription, and Others. Based on function, the market is segmented into Telehealth and Clinical Monitoring. Based on End User, the market is segmented into Hospitals & Clinics and Home Monitoring. Based on Application, the market is segmented into Wellness & Prevention, Monitor, Diagnosis & Treatment, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dohler Gmbh, Koninklijke DSM N.V., Handary S.A., Kemin Industries, Inc., Foodchem International Corporation, Nexira, Inc., Amway Corporation, The Green Labs LLC, Givaudan S.A., and Symrise AG.
Telemedicine services are becoming more popular as governments across the world restrict residents' ability to leave their homes. Individuals are exploring different measures to monitor their wellbeing and only approach doctors in the event of an emergency, while hospitals' entire focus is on treating COVID-19 patients. As a result, demand for smart wearables, particularly smart watches, have significantly increased in recent months.
Consumer data is being leveraged by a new generation of digitally connected solutions, such as wearables, devices, and software platforms, in order to create intelligent feedback loops and offer users with personalized therapeutic interventions and recommendations for their mental and physical health, as well as encourage positive behavior both in the real-time and long term. These connected health and wellness solutions might be one-of-a-kind and can improve numerous aspects of life and public health.
The American Telemedicine Association, an advocacy group that encourages the utilization of advanced and remote medical technologies, describes telemedicine as the use of medical information and records exchanged from one site to another. The process is conducted through electronic communications to enhance a patient's clinical health status, which includes a growing number of applications and services that use smartphones, two-way video, email, wireless tools, and other types of telecommunications technology. In addition, The Federation of State Medical Boards defines telemedicine as the practice of medicine between a doctor in one location and a patient in another location via electronic communications, information technology, or other means, with or without intervening healthcare professionals.
The US market dominated the North America Connected Health And Wellness Solutions Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $28,720.8 million by 2027. The Canada market is anticipated to grow at a CAGR of 21.4% during (2021 - 2027). Additionally, The Mexico market is expected to exhibit a CAGR of 20.3% during (2021 - 2027).
Based on Product, the market is segmented into Personal Medical Devices, Wellness Products, and Software & Services. Based on Personal Medical Devices Type, the market is segmented into Insulin Pumps, BP Monitor, Glucose Monitor, Personal Pulse Oximeter, and Others. Based on Wellness Products Type, the market is segmented into Digital Pedometer, Heart Rate Monitor, Body Analyzer, Sleep Quality Monitor, and Others. Based on Software & Services Type, the market is segmented into Fitness & Wellness App, Online Subscription, and Others. Based on function, the market is segmented into Telehealth and Clinical Monitoring. Based on End User, the market is segmented into Hospitals & Clinics and Home Monitoring. Based on Application, the market is segmented into Wellness & Prevention, Monitor, Diagnosis & Treatment, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dohler Gmbh, Koninklijke DSM N.V., Handary S.A., Kemin Industries, Inc., Foodchem International Corporation, Nexira, Inc., Amway Corporation, The Green Labs LLC, Givaudan S.A., and Symrise AG.
Scope of the Study
Market Segments Covered in the Report:
By Product
- Personal Medical Devices
- Insulin Pumps
- BP Monitor
- Glucose Monitor
- Personal Pulse Oximeter
- Others
- Wellness Products
- Digital Pedometer
- Heart Rate Monitor
- Body Analyzer
- Sleep Quality Monitor
- Others
- Software & Services
- Fitness & Wellness App
- Online Subscription
- Others
By Function
- Telehealth
- Clinical Monitoring
By End User
- Hospitals & Clinics
- Home Monitoring
By Application
- Wellness & Prevention
- Monitor
- Diagnosis & Treatment
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- Apple, Inc.
- Garmin Ltd.
- Boston Scientific Corporation
- General Electric (GE) Co.
- Dragerwerk AG & Co. KGaA
- Medtronic PLC
- Koninklijke Philips N.V.
- Omron Corporation
- Google LLC
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Connected Health And Wellness Solutions Market by Product
Chapter 5. North America Connected Health And Wellness Solutions Market by Function
Chapter 6. North America Connected Health And Wellness Solutions Market by End User
Chapter 7. North America Connected Health And Wellness Solutions Market by Application
Chapter 8. North America Connected Health And Wellness Solutions Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Apple, Inc.
- Garmin Ltd.
- Boston Scientific Corporation
- General Electric (GE) Co.
- Dragerwerk AG & Co. KGaA
- Medtronic PLC
- Koninklijke Philips N.V.
- Omron Corporation
- Google LLC
Methodology
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