According to publisher, Here is the North America Connected Healthcare Device Market Report
Market Insights
The North American connected healthcare device market is a thriving sector poised for significant growth. In 2023, it held a dominant share of over 30% of the global market. This dominance is attributed to several factors:
Strong Healthcare Infrastructure: North America boasts a well-established network of hospitals, clinics, and research institutions that are rapidly adopting connected technologies.
High Digital Adoption Rates: Widespread smartphone and internet penetration fuels the use of connected devices for remote monitoring and telehealth consultations.
Rising Healthcare Costs: Connected devices offer potential cost savings by enabling preventative care, remote patient monitoring, and reduced hospital readmission rates.
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Download SampleMarket Dynamics
Several key factors are driving the growth of this market:
Growing Aging Population: The increasing number of elderly individuals requiring chronic disease management fuels the demand for connected devices for monitoring vitals and medication adherence.
Technological Advancements: Advancements in wireless technologies (Bluetooth, 5G), cloud computing, and big data analytics enhance data transmission, storage, and analysis, leading to better patient care.
COVID-19 Pandemic: The pandemic accelerated the adoption of telehealth and remote patient monitoring, highlighting the benefits of connected healthcare devices.
Market Segments
The North American connected healthcare device market can be segmented by:
Device Type:
Wearables (smartwatches, fitness trackers) for monitoring activity levels, heart rate, and sleep patterns.
Remote monitoring devices (glucose monitors, blood pressure cuffs) for chronic disease management.
Diagnostic devices (connected stethoscopes, ECG monitors) for remote consultations and diagnostics.
Application:
Cardiology (heart rhythm monitoring, pacemakers)
Diabetes Management (continuous glucose monitors)
Respiratory Care (remote spirometers)
Regional Analysis
The United States dominates the North American market due to factors like high healthcare spending, extensive insurance coverage, and a strong focus on technological innovation. However, Canada is also witnessing rising adoption, particularly in remote areas where access to traditional healthcare services might be limited.
Key Developments
FDA Approvals: Regulatory approvals for new connected devices by the US Food and Drug Administration (FDA) are propelling market growth. For instance, in 2023, the FDA approved a new remote cardiac monitor for home use.
Strategic Acquisitions: Mergers and acquisitions between healthcare and technology companies are consolidating the market and accelerating innovation. For example, in 2024, a leading medical device company acquired a remote patient monitoring startup.
Competitive Landscape
The North American connected healthcare device market is highly competitive, with established medical device companies like Medtronic and Abbott Laboratories vying for market share with tech giants like Apple and Samsung entering the fray with their own wearables and health tracking applications. Additionally, there are numerous startups developing niche connected devices for specific healthcare needs.
Looking Ahead
The North American connected healthcare device market is expected to witness robust growth in the coming years, driven by the factors mentioned above. As technology continues to advance and healthcare costs remain a concern, connected devices will play an increasingly important role in delivering preventive, chronic, and acute care.
Table of Contents
- 1 Introduction 8
- 1.1 Industry Definition and Research Scope 8
- 1.1.1 Industry Definition 8
- 1.1.2 Research Scope 9
- 1.2 Research Methodology 12
- 1.2.1 Overview of Market Research Methodology 12
- 1.2.2 Market Assumption 13
- 1.2.3 Secondary Data 13
- 1.2.4 Primary Data 13
- 1.2.5 Data Filtration and Model Design 14
- 1.2.6 Market Size/Share Estimation 15
- 1.2.7 Research Limitations 16
- 1.3 Executive Summary 17
- 2 Market Overview and Dynamics 19
- 2.1 Market Size and Forecast 19
- 2.1.1 Impact of COVID-19 on World Economy 20
- 2.1.2 Impact of COVID-19 on the Market 25
- 2.1.3 Impact of Russia-Ukraine Conflict 27
- 2.1.4 Impact of Israel-Palestine War 29
- 2.2 Major Growth Drivers 30
- 2.3 Market Restraints and Challenges 34
- 2.4 Emerging Opportunities and Market Trends 37
- 2.5 Porter’s Fiver Forces Analysis 41
- 3 Segmentation of North America Market by Product 45
- 3.1 Market Overview by Product 45
- 3.2 Medical Devices 47
- 3.2.1 Blood Pressure Monitor 49
- 3.2.2 Glucose Monitor 50
- 3.2.3 Insulin Pump 51
- 3.2.4 ECG Monitoring Device 52
- 3.2.5 Pulse Oximeter 53
- 3.2.6 Portable GPS PERS 54
- 3.2.7 Smart Pill Dispenser 55
- 3.2.8 Other Medical Devices 56
- 3.3 Wellness Devices 57
- 3.3.1 Body Analyzer 59
- 3.3.2 Digital Pedometer 60
- 3.3.3 GPS Sports Watch 61
- 3.3.4 Heart Rate Monitor 62
- 3.3.5 Sleep Quality Monitor 63
- 3.3.6 Other Wellness Devices 64
- 3.4 Software & Services 65
- 3.4.1 Fitness & Wellness App 66
- 3.4.2 Online Subscription 67
- 3.4.3 Other Software & Services 68
- 4 Segmentation of North America Market by Device Type 69
- 4.1 Market Overview by Device Type 69
- 4.2 Wearable Devices 71
- 4.3 Implantable Devices 72
- 4.4 Stationary Devices 73
- 5 Segmentation of North America Market by Application 74
- 5.1 Market Overview by Application 74
- 5.2 Remote Monitoring 76
- 5.3 Consultation and Diagnosis Services 77
- 5.4 Treatment Services 78
- 5.5 Fitness and Wellness Services 79
- 6 Segmentation of North America Market by End User 80
- 6.1 Market Overview by End User 80
- 6.2 Hospitals 82
- 6.3 Specialty Clinics 83
- 6.4 Ambulatory Surgical Centers (ASCs) 84
- 6.5 Home Care Settings 85
- 6.6 Other End Users 86
- 7 North America Market 2023-2033 by Country 87
- 7.1 Overview of North America Market 87
- 7.2 U.S. 90
- 7.3 Canada 93
- 7.4 Mexico 95
- 8 Competitive Landscape 97
- 8.1 Overview of Key Vendors 97
- 8.2 New Product Launch, Partnership, Investment, and M&A 100
- 8.3 Company Profiles 101
- Abbott Laboratories 101
- Aerotel Medical System Ltd. 103
- AgaMatrix, Inc. 104
- Apple Inc. 105
- BioTelemetry Inc. 106
- Biotronik SE & Co. KG 107
- Boston Scientific Corporation 108
- DexCom Inc. 109
- Draeger Medical Systems, Inc. 110
- F. Hoffmann-La Roche AG 111
- Fitbit, Inc. 112
- Garmin Ltd. 113
- GE Healthcare 114
- Honeywell International Inc. 115
- IHealth Labs (Subsidiary of Andon Health) 116
- Johnson & Johnson 117
- Koninklijke Philips NV 118
- McKesson Corporation 119
- Medtronic PLC 120
- NXP Semiconductors NV 121
- Omron Healthcare Inc. 122
- Phillips Healthcare Company 123
- Siemens Healthcare Private Limited 124
- Stanley Healthcare 125
- RELATED REPORTS 126
Table 1. Snapshot of North America Connected Healthcare Device Market in Balanced Perspective, 2023-2033 18
Table 2. World Economic Outlook, 2024-2036 22
Table 3. World Economic Outlook, 2022-2024 24
Table 4. Scenarios for Economic Impact of Ukraine Crisis 28
Table 5. Scenarios for Economic Impact of Israel-Palestine War 29
Table 6. Main Product Trends and Market Opportunities in North America Connected Healthcare Device Market 37
Table 7. North America Connected Healthcare Device Market by Product, 2023-2033, $ mn 45
Table 8. North America Connected Healthcare Device Market: Medical Devices by Type, 2023-2033, $ mn 48
Table 9. North America Connected Healthcare Device Market: Wellness Devices by Type, 2023-2033, $ mn 58
Table 10. North America Connected Healthcare Device Market: Software & Services by Type, 2023-2033, $ mn 65
Table 11. North America Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 69
Table 12. North America Connected Healthcare Device Market by Application, 2023-2033, $ mn 74
Table 13. North America Connected Healthcare Device Market by End User, 2023-2033, $ mn 80
Table 14. North America Connected Healthcare Device Market by Country, 2023-2033, $ mn 88
Table 15. U.S. Connected Healthcare Device Market by Product, 2023-2033, $ mn 92
Table 16. U.S. Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 92
Table 17. U.S. Connected Healthcare Device Market by End User, 2023-2033, $ mn 92
Table 18. Canada Connected Healthcare Device Market by Product, 2023-2033, $ mn 94
Table 19. Canada Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 94
Table 20. Canada Connected Healthcare Device Market by End User, 2023-2033, $ mn 94
Table 21. Mexico Connected Healthcare Device Market by Product, 2023-2033, $ mn 96
Table 22. Mexico Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 96
Table 23. Mexico Connected Healthcare Device Market by End User, 2023-2033, $ mn 96
Table 24. Abbott Laboratories: Company Snapshot 101
Table 25. Abbott Laboratories: Business Segmentation 102
Table 26. Abbott Laboratories: Product Portfolio 102
Figure 1. Research Method Flow Chart 12
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2023-2033 17
Figure 4. Industry Value Chain Analysis 19
Figure 5. North America Connected Healthcare Device Market, 2023-2033, $ mn 20
Figure 6. Impact of COVID-19 on Business 25
Figure 7. Primary Drivers and Impact Factors of North America Connected Healthcare Device Market 30
Figure 8. The Benefits of Connected Medical Devices 33
Figure 9. World Industrial IoT Market, 2019-2030, $ mn 33
Figure 10. Primary Restraints and Impact Factors of North America Connected Healthcare Device Market 34
Figure 11. Investment Opportunity Analysis 38
Figure 12. Porter’s Fiver Forces Analysis of North America Connected Healthcare Device Market 41
Figure 13. Breakdown of North America Connected Healthcare Device Market by Product, 2023-2033, % of Revenue 46
Figure 14. North America Addressable Market Cap in 2024-2033 by Product, Value ($ mn) and Share (%) 46
Figure 15. North America Connected Healthcare Device Market by Product: Medical Devices, 2023-2033, $ mn 47
Figure 16. North America Connected Healthcare Device Market by Medical Devices: Blood Pressure Monitor, 2023-2033, $ mn 49
Figure 17. North America Connected Healthcare Device Market by Medical Devices: Glucose Monitor, 2023-2033, $ mn 50
Figure 18. North America Connected Healthcare Device Market by Medical Devices: Insulin Pump, 2023-2033, $ mn 51
Figure 19. North America Connected Healthcare Device Market by Medical Devices: ECG Monitoring Device, 2023-2033, $ mn 52
Figure 20. North America Connected Healthcare Device Market by Medical Devices: Pulse Oximeter, 2023-2033, $ mn 53
Figure 21. North America Connected Healthcare Device Market by Medical Devices: Portable GPS PERS, 2023-2033, $ mn 54
Figure 22. North America Connected Healthcare Device Market by Medical Devices: Smart Pill Dispenser, 2023-2033, $ mn 55
Figure 23. North America Connected Healthcare Device Market by Medical Devices: Other Medical Devices, 2023-2033, $ mn 56
Figure 24. North America Connected Healthcare Device Market by Product: Wellness Devices, 2023-2033, $ mn 57
Figure 25. North America Connected Healthcare Device Market by Wellness Devices: Body Analyzer, 2023-2033, $ mn 59
Figure 26. North America Connected Healthcare Device Market by Wellness Devices: Digital Pedometer, 2023-2033, $ mn 60
Figure 27. North America Connected Healthcare Device Market by Wellness Devices: GPS Sports Watch, 2023-2033, $ mn 61
Figure 28. North America Connected Healthcare Device Market by Wellness Devices: Heart Rate Monitor, 2023-2033, $ mn 62
Figure 29. North America Connected Healthcare Device Market by Wellness Devices: Sleep Quality Monitor, 2023-2033, $ mn 63
Figure 30. North America Connected Healthcare Device Market by Wellness Devices: Other Wellness Devices, 2023-2033, $ mn 64
Figure 31. North America Connected Healthcare Device Market by Product: Software & Services, 2023-2033, $ mn 65
Figure 32. North America Connected Healthcare Device Market by Software & Services: Fitness & Wellness App, 2023-2033, $ mn 66
Figure 33. North America Connected Healthcare Device Market by Software & Services: Online Subscription, 2023-2033, $ mn 67
Figure 34. North America Connected Healthcare Device Market by Product: Other Software & Services, 2023-2033, $ mn 68
Figure 35. Breakdown of North America Connected Healthcare Device Market by Device Type, 2023-2033, % of Sales Revenue 70
Figure 36. North America Addressable Market Cap in 2024-2033 by Device Type, Value ($ mn) and Share (%) 70
Figure 37. North America Connected Healthcare Device Market by Device Type: Wearable Devices, 2023-2033, $ mn 71
Figure 38. North America Connected Healthcare Device Market by Device Type: Implantable Devices, 2023-2033, $ mn 72
Figure 39. North America Connected Healthcare Device Market by Device Type: Stationary Devices, 2023-2033, $ mn 73
Figure 40. Breakdown of North America Connected Healthcare Device Market by Application, 2023-2033, % of Sales Revenue 75
Figure 41. North America Addressable Market Cap in 2024-2033 by Application, Value ($ mn) and Share (%) 75
Figure 42. North America Connected Healthcare Device Market by Application: Remote Monitoring, 2023-2033, $ mn 76
Figure 43. North America Connected Healthcare Device Market by Application: Consultation and Diagnosis Services, 2023-2033, $ mn 77
Figure 44. North America Connected Healthcare Device Market by Application: Treatment Services, 2023-2033, $ mn 78
Figure 45. North America Connected Healthcare Device Market by Application: Fitness and Wellness Services, 2023-2033, $ mn 79
Figure 46. Breakdown of North America Connected Healthcare Device Market by End User, 2023-2033, % of Revenue 81
Figure 47. North America Addressable Market Cap in 2024-2033 by End User, Value ($ mn) and Share (%) 81
Figure 48. North America Connected Healthcare Device Market by End User: Hospitals, 2023-2033, $ mn 82
Figure 49. North America Connected Healthcare Device Market by End User: Specialty Clinics, 2023-2033, $ mn 83
Figure 50. North America Connected Healthcare Device Market by End User: Ambulatory Surgical Centers (ASCs), 2023-2033, $ mn 84
Figure 51. North America Connected Healthcare Device Market by End User: Home Care Settings, 2023-2033, $ mn 85
Figure 52. North America Connected Healthcare Device Market by End User: Other End Users, 2023-2033, $ mn 86
Figure 53. Breakdown of North America Connected Healthcare Device Market by Country, 2023 and 2033, % of Revenue 88
Figure 54. Contribution to North America 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 89
Figure 55. U.S. Connected Healthcare Device Market, 2023-2033, $ mn 91
Figure 56. Canada Connected Healthcare Device Market, 2023-2033, $ mn 93
Figure 57. Connected Healthcare Device Market in Mexico, 2023-2033, $ mn 95
Figure 58. Growth Stage of North America Connected Healthcare Device Industry over the Forecast Period 97
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