Connected Tele Health Devices Market Size to Grow At 24% CAGR From 2024 to 2030

Connected Tele Health Devices Market Size (2024 - 2030)

As per our research Report, the Connected Tele Health Devices Market is forecasted to be growing at a CAGR of 24% from 2024 to 2030.

Telehealth is defined as the delivery of healthcare services through communication technologies, permitting healthcare providers and patients to interact remotely. Latest modernizations in communication technologies, computer science, informatics, and medical technologies have made telehealth a significant tool in the healthcare industry. Telehealth is a beneficial solution for patients who may have difficulty approaching conventional in-person healthcare services due to place, mobility, or time constraints. Telehealth commonly involves the use of healthcare equipment that records measurements like blood pressure and heart rate, which are then sent electronically to healthcare experts for remote monitoring. Smartphones and other mobile devices are also becoming more famous for gathering, sharing, and analyzing health information, even in areas that may have restricted access to conventional healthcare services. This is highly helpful, especially for individuals living in remote or underserved communities, as it facilitates them to receive medical attention and control from a distance.

Several different technologies are used to improve patient care in the field of telehealth. These involve teleconsultations, remote patient monitoring (RPM), and telehomecare (THC). Through teleconsultations, a patient in a remote location can get mentorship on unique or complex conditions from a healthcare specialist placed elsewhere. Such consultations can take place over the phone. They increasingly include the sophisticated sharing of medical information from scans like CT, MRI, or ultrasound. The local doctor can gather these images, add them to an electronic health record, and forward them to the specialist for evaluation and possible treatment options. Remote patient monitoring, or RPM for short, makes it easy to monitor patients outside of clinical settings, like at home. To remotely gather and communicate physiological data to healthcare specialists, patients apply or wear sensors. RPM can greatly increase a person's quality of life. The real-time transmission of blood glucose levels, for example, facilitates healthcare professionals to respond when required and prevent acute episodes and hospitalizations in the management of diabetes. Telehomecare is a variety of remote care that permits individuals with chronic conditions, dementia, or a high risk of falling to live independently in their respective homes. The goal of this approach is to swiftly respond to emergencies and offer assistance when needed. Sensors are utilised to monitor changes in a person's chronic conditions and other harmful risks, such as floods, fires, and gas leaks. For people with dementia, sensors can even detect if they leave the house. When a sensor is triggered, a monitoring centre is immediately sensed and can take appropriate action, such as notifying a caregiver or dispatching emergency services. By leveraging technology to monitor patients remotely, telehomecare can offer better safety and quality of life for those who might otherwise need more intensive care. 

The incidence of chronic sicknesses like diabetes, high blood pressure, heart disease, and obesity, is rising worldwide. A practical and affordable way of keeping track of patients with chronic sickness is telehealth. To keep a daily record of their essentials such as blood pressure readings, blood glucose levels, and pulse or heart rate, patients can be offered with home monitoring device. This type of access will be extensively beneficial to doctors in managing their patients' health and taking quick action in the event of any health emergency. Therefore, this factor propels the demand for connected telehealth devices. Telehealth smartphone applications provide benefits to both healthcare providers and patients. With the capacity to conduct health check-ups remotely, doctors are no longer needed to maintain long clinic hours. This cuts down time and costs associated with keeping the clinic open. Likewise, patients benefit from not having to travel to the clinic, which can be especially helpful for those who reside in rural or remote areas. Therefore, this element also drives the demand for connected telehealth devices.

The globally connected telehealth devices market is experiencing challenges, majorly in terms of difficulty in building rapport with patients. Developing a rapport with individuals can be difficult when doctors offer telehealth services. Although telehealth is undoubtedly more comfortable for patients, it may not offer the personalized experience that some patients need, particularly for new patients who are not used to the medical practice of the healthcare practitioner. Collecting and organizing patients' medical histories can be tough as patient data is not always easily transferable between different practices. Furthermore, for telehealth services to work effectively, some necessities need to be in place. A reliable internet connection is necessary for both patient and doctor, and remote patient monitoring needs patients to be equipped with specialized healthcare devices. Some patients may also not be okay with the technical aspects of the smartphone applications and telehealth software that healthcare professionals use. Thus, these challenges harm the growth of the global connected telehealth devices market.

Key Market Insights: 

  • In 2023, the peripheral devices segment held the biggest market share. The growth can be dedicated to the increasing demand for remote health services, involving real-time virtual consultations, remote patient monitoring, and store and forward methods. Real-time virtual consultations are the most well-known method of telehealth service that involves a two-way chat (either video or telephonic) between a patient and a healthcare professional. This telehealth service is utilized by everyone, from doctors at localized hospitals to healthcare professionals who run their private practices.

  • Based on the end-user, the globally connected telehealth devices market is divided into providers, patients, and payers. In 2023, the healthcare providers segment held the largest market share. The growth can be dedicated to the adoption of telehealth services, such as remote patient monitoring (RPM), teleconsultations, and telehomecare (THC), among healthcare practitioners to lower the burden on healthcare facilities. Telehealth services enhance the convenience of healthcare professionals by letting them access patient health records quickly and easily, as well as offer real-time quality reporting, better data management, and improved decision-making.

  • The region of North America dominated the global linked telehealth devices market in the year 2023. The rising incidence of chronic sickness, including sleep apnea, diabetes, cardiovascular diseases, hypertension, obesity, and several other illnesses, the presence of well-established healthcare industries in countries, such as the United States and Canada, and the early and wide adoption of modern and advanced technologies, involving telemedicine and telehealth services are some of the elements propelling the region's growth. In addition, North America is home to several crucial market players, including GE Healthcare, McKesson Corporation, Teladoc Health, Inc., CareCloud, Inc., and AMD Global Telemedicine, Inc.

  • The region of Asia-Pacific is expected to expand at the fastest rate over the estimated period owing to the rising adoption of handheld equipment like smartphones, tablets, and laptops, the increasing internet penetration, and the growing prevalence of health conditions.

Connected TeleHealth Devices Market Segmentation:

 By Product Type

  • Peripheral Devices

    • Laptops

    • Tablets

    • Smartphones

  • Monitors

  • Wearables

  • Digital Camera

  • Digital Scopes

  • Others

By End-User

  • Healthcare Providers

  • Patients

  • Payers

By Region

  • North America

  • Europe

  • Asia-Pacific

  • South America

  • Middle East & Africa

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