WIRELESS HEALTH MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The global wireless health market is estimated to be valued at USD 235.1 Mn in 2024 and is expected to reach USD 771.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 18.5% from 2024 to 2031.The global wireless health market is witnessing steady growth over the last few years owing to the increasing utilization of digital health technologies. Factors, such as rising chronic disease prevalence, rising geriatric population, growing demand for home healthcare services, and the need for cost-effective healthcare delivery, are driving the adoption of wireless health solutions worldwide. Wireless health technologies enable remote monitoring of vital signs, quicker response times during medical emergencies, and better management of chronic conditions through digital devices and sensors. This not only improves patient outcomes but also reduces burden on healthcare systems. With further technological advancements and widespread availability, the wireless health market is expected to experience strong growth in the coming years.
Market Dynamics:
The global wireless health market growth is primarily driven by the growing geriatric population and increasing prevalence of chronic diseases worldwide. In July 2024, as per estimates from Centers for Disease Control and Prevention, chronic diseases affect over 100 million Americans and account for around 90% of the nation's US$ 4 trillion annual healthcare costs. Wireless health solutions aid in effective self-monitoring and management of chronic conditions such as diabetes, heart disease, and respiratory diseases. Growing demand for home healthcare owing to rising medical costs and focus on patient-centric care delivery is another key factor boosting the adoption of wireless health technologies across the world. Home healthcare allows patients to get monitored and treated at home, thereby avoiding costly hospitalizations. Furthermore, technological advancements in wearable devices, remote patient monitoring systems, and digital platforms are presenting attractive opportunities for wireless health solution providers to develop innovative products and services. However, data security concerns, stringent regulatory policies, and infrastructure challenges in developing countries may hamper the market growth to some extent.
Key Features of the Study:
- This report provides in-depth analysis of the global wireless health market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global wireless health market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include IBM, Philips Healthcare, Cerner Corporation, Qualcomm Technologies, Inc., Medtronic, GE Healthcare, Omron Healthcare, Apple Inc., Samsung Electronics, Fitbit, Inc., Honeywell Life Sciences, Boston Scientific, Abbott Laboratories, Siemens Healthineers, and Allscripts Healthcare Solutions
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global wireless health market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global wireless health market.
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Wireless Health Market' - Global forecast to 2031
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