Connected Medical Device Global Market Report 2025

The connected medical device market size has grown rapidly in recent years. It will grow from $48.88 billion in 2024 to $56.741 billion in 2025 at a compound annual growth rate (CAGR) of 16.1%. The growth during the historic period can be attributed to the rising prevalence of chronic diseases, the expanding global aging population, increased demand for remote patient monitoring, greater adoption of wearable health devices, and escalating healthcare spending.

The connected medical device market size is expected to see rapid growth in the next few years. It will grow to $101.84 billion in 2029 at a compound annual growth rate (CAGR) of 15.7%. The growth projected for the forecast period is driven by increasing awareness of health and fitness, a rising incidence of cardiovascular diseases, a growing need for real-time health data analysis, government efforts supporting digital health, and higher smartphone penetration. Key trends during this period include progress in wireless communication technologies, the incorporation of AI and machine learning into medical devices, a demand for affordable healthcare solutions, innovations in sensor technology, and improved data security and privacy measures.

The rise of telemedicine services is expected to significantly drive the growth of the connected medical device market in the coming years. Telemedicine enables healthcare delivery and consultations remotely, eliminating the need for in-person visits. This convenience allows patients to access medical care quickly from home, saving time and travel costs. As telemedicine expands, it increases the demand for connected medical devices that facilitate remote patient monitoring by transmitting real-time health data to healthcare providers. This ensures timely and accurate diagnosis and intervention without physical visits. For example, a February 2023 survey by Rock Health, involving 8,014 respondents between July and August 2022, found that 80% had used telemedicine at least once in 2022 - an 8% increase from 72% in 2021. Thus, the growing adoption of telemedicine services is a key factor propelling the connected medical device market forward.

Major companies in the connected medical device market are increasingly focusing on developing advanced AI-powered platforms that enable personalized user experiences by adapting in real-time to individual behaviors and preferences. AI-powered platforms leverage artificial intelligence to analyze health data, make informed decisions, and automate processes with minimal human intervention. For example, in October 2023, ZS, a US-based technology firm, launched the ZAIDYN Connected Health solution. This platform delivers trusted, AI-driven insights to pharmaceutical companies, healthcare providers, and payers, helping them address unmet medical needs and improve patient outcomes. ZAIDYN’s health insights suite identifies care gaps and offers personalized recommendations for physicians, patients, and manufacturers to enhance treatment access and coordination. Its patient engagement suite customizes support based on individual patient needs to increase the effectiveness of patient programs. Additionally, the connected research component uses advanced digital engagement tools to collect reliable evidence that assists healthcare organizations in validating innovations and guiding strategic decisions.

In January 2022, ICU Medical Inc., a US-based medical technology company, acquired Smiths Medical for an undisclosed amount. This acquisition positioned ICU Medical as a leading player in the infusion therapy sector by merging complementary operations. It also strengthened a company culture centered on responsibility, transparency, swift and well-informed decision-making, and a strong commitment to customer satisfaction. Smiths Medical, the acquired company, is a US-based manufacturer specializing in connected medical devices.

Major players in the connected medical device market are Cardinal Health Inc., Johnson And Johnson, Abbott Laboratories Inc., Medtronic plc, F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Fresenius Medical Care AG And Co. KGaA, Becton, Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE Healthcare Technologies Inc., Boston Scientific Corporation, Baxter International Inc., 3M Health Care, Zimmer Biomet Holdings Inc., Olympus Corporation, Terumo Corporation, Smith And Nephew plc, Garmin Ltd., Resmed Inc., Omron Healthcare Inc., Epitel Inc.

North America was the largest region in the connected medical device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in connected medical device report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the connected medical device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A connected medical device is a digitally integrated healthcare instrument that communicates and exchanges data with other systems or networks via wireless or wired connections. These devices are designed to collect, transmit, and sometimes analyze health-related data in real time or over designated periods, allowing for continuous monitoring and timely medical insights.

Key types of connected medical devices include wearable, implantable, and stationary devices. Wearable devices are electronic gadgets worn on the body, such as smartwatches or fitness trackers, that monitor health metrics like heart rate, activity levels, and sleep patterns. They utilize various connectivity technologies including Bluetooth, Wi-Fi, cellular, and others. These devices are used for remote patient monitoring, telemedicine, clinical decision support, chronic disease management, fitness and wellness, among other applications. They serve a range of end users, including hospitals and clinics, home care environments, long-term care facilities, ambulatory surgical centers, and more.

The connected medical device market research report is one of a series of new reports that provides connected medical device market statistics, including connected medical device industry global market size, regional shares, competitors with a connected medical device market share, detailed connected medical device market segments, market trends and opportunities, and any further data you may need to thrive in the connected medical device industry. This connected medical device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The connected medical device market consists of sales of remote monitoring systems, connected imaging systems, smart drug delivery systems, and IoT-enabled surgical tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.