Connected Health Market Growing at 26.54% CAGR to 2020

Aug 01, 2016, 22:00 ET from Sandler Research

PUNE, India, August 2, 2016 /PRNewswire/ --

The global connected health market 2016-2020 research report says development of virtual nurses will be a key trend for market growth as these groups of relational agents act as a stand-in for front-line staff in hospitals. Their responsibility includes guiding patients on medication and other precautions necessary for their conditions. The virtual nurse created by Northeastern University, named Elizabeth, is being trialed at the Boston Medical Center. A San Francisco-based start-up will undertake its commercialization following the successful completion of trials. Virtual nurses will become an integral part of medical infrastructure in the future. Patients can interact with virtual nurses through on-screen options and contact real-life nurses in case of any doubts.

Complete report on connected health market spread across 70 pages, analyzing 5 major companies and providing 24 data exhibits now available at .

The analysts forecast global connected health market to grow at a CAGR of 26.54% during the period 2016-2020. According to the 2016 global connected health market report, growth in older population is a one of the major drivers in market growth. Older people are more likely to develop age-related diseases or chronic diseases due to their low immunity levels. The top three causes of death among people aged 65 and over are cardiac arrest, cancer, and strokes. In the Americas, four out of five older people are diagnosed with at least one chronic condition. Over 40% of the older population in North America has high blood pressure, more than one in four have high cholesterol, 20% have some form of mental disorder, and 15% have diabetes.

The growth of global connected health market can be accredited to the increased support from governments across the world. Many governments are encouraging the idea of connected health through various incentives and policies. Such healthcare regulations encourage hospitals and clinics to convert traditional medical records into electronic ones. During 2015, North America dominated the global connected health market with a market share of more than 36%. The market in this region is anticipated to showcase substantial growth during the forecast period owing to growing awareness, expanding mobile coverage, and rising incidence of chronic diseases.

By 2020, the global connected health market will continue to be dominated by the monitoring devices segment with a share of almost 62%. Monitoring devices are used to display, measure, and document physiological information that is obtained at regular intervals from sensors attached to the patient or other input devices. Increased public knowledge and awareness of the advantages of using self-care devices such as glucose monitors and insulin pumps coupled with awareness programs organized by various medical associations are factors contributing to the growth of this segment over the next four years.

The following companies are the key players in the global connected health market: Allscripts, Apple, athenahealth, Cerner, GE Healthcare, and Philips Healthcare. Other prominent vendors in the market are: AeroScout (Stanley Healthcare Solutions), Abbott, Agfa-Gevaert, Alcatel-Lucent, Cardio Net, Epic Systems, Evolent Health, F. Hoffmann-La Roche, Google, Honeywell Life Care Solutions, HP, Huawei, Johnson & Johnson, Medtronic, Microsoft, Misfit, OMRON, Proteus Digital Health, Qualcomm, Skyscape, Voxiva, Warby Parker, WellDoc, and Zebra Technologies. Order a copy of Global Connected Health Market 2016-2020 report @ .

Global Connected Health Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global connected health market for 2016-2020.

Another related report is Global Healthcare IT Market 2016-2020, a key growth driver is the changing government regulations as they pertain to the healthcare industry. Governments of many countries revise their regulations to make the healthcare sector more customer-oriented. WHO introduced guidelines for international classification of diseases (ICD), a standard diagnostic tool for epidemiology, health management, and for clinical purposes. Browse complete report @ .

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SOURCE Sandler Research