CONNECTED MEDICAL DEVICE MARKET ANALYSIS

Connected Medical Device Market, By Product Type (Wearable Devices (Activity Trackers, Smart Watches, Patches, Others), Implantable Devices (Cardiovascular Implants, Orthopedic Implants, Neurological Implants, Others), Stationary Devices), By Application (Remote Patient Monitoring, Telemedicine, Clinical Decision Support, Chronic Disease Management, Fitness and Wellness, Others), By End User (Hospitals and Clinics, Home Care Settings, Long-Term Care Facilities, Ambulatory Surgical Centers, Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Feb 2025
Code : CMI5240
Pages :162
Formats :
Excel and PDF
Industry : Medical Devices

Connected Medical Device Market Size and Trends

Global connected medical device market is estimated to be valued at USD 74.87 Billion in 2025 and is expected to reach USD 199.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.0% from 2025 to 2032. Growing adoption of connected medical devices among patients and healthcare providers as well as technological advancements in healthcare IT infrastructure can drive the market growth.

Connected Medical Device Market Key Factors

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Market Driver - Growing demand for home healthcare devices (telehealth)

Global outbreak of COVID-19 highlighted the importance of remote patient monitoring and home healthcare solutions. With hospitals overwhelmed and people hesitate to visit clinics, there has been huge demand for connected medical devices that can monitor critical health parameters from homes. Technologies like remote patient monitoring solutions, wireless vital sign monitors, and telehealth services are gaining wide acceptance among patients, physicians as well as healthcare systems. Connected blood pressure monitors, glucose meters, weight scales, pulse oximeters and other home use medical equipment are being increasingly used for management of chronic conditions like diabetes, hypertension, respiratory diseases. This allows high risk patients and elderly population to stay safely isolated inside homes while doctors can continuously track their health status from distance through smart devices and telemedicine. Various startups are innovating new telehealth solutions including AI powered virtual medical assistants that can answer basic health queries and recommend care instructions remotely. The COVID-19 pandemic offered new opportunities for telemedicine companies and digital health solution providers. Governments across countries have also relaxed regulations temporarily to boost the adoption of telehealth. Reimbursement policies are being revised to cover remote patient consultations and virtual visits. Hospitals associations and private health insurers are promoting home healthcare devices reimbursed under insurance. This growing support and awareness compel people to adopt smartphones based medical apps and wireless connected instruments for managing health outside clinics.