eHealth Devices Market size is estimated to reach USD 28.1 billion by 2028

 eHealth Devices Industry Overview

The global eHealth devices market size was valued at USD 15.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2022 to 2028.

 

The global market growth is significantly driven by the increasing adoption of eHealth devices due to the prevalence of chronic diseases and lifestyle diseases such as high blood pressure, diabetes, and heart problems. According to the International Diabetes Federation, in 2019, approximately 463 million adults were living with diabetes, with the number expected to reach 700 million by 2045. The rising prevalence of diabetes is expected to drive the demand for glucose meter devices. Technological developments in the area of IoT and AI, coupled with the growing population of older demography, are likely to propel the market growth of the internet-assisted eHealth devices such as care phones/social alarms.

 

The eHealth device market growth is propelled by increasing government initiatives for the enhancement of the healthcare sector, and rising investments from private firms and governments. Government initiatives are likely to increase the accessibility and availability of these devices during the forecast period

 

Gather more insights about the market drivers, restrains and growth of the Global eHealth Devices Market

 

The COVID-19 pandemic had a favorable impact on the eHealth market, despite the economic slowdown in many countries. Due to the pandemic, consumer perception has changed and reshaped, which led to an increase in the adoption of health tracking devices and preventive care measures. During the pandemic, the demand for fever meters spiked drastically for tracking temperature and fever conditions among consumers. 

 

Technological developments and innovative product launches are expected to drive consumer purchase and spending during the forecast period and support the global market growth. Various key players are carrying out extensive research and development activities to improve functions and add new aesthetics to these devices. Online distribution or e-commerce platforms have been on the rise over the years, owing to their increasing popularity among consumers. eHealth device manufacturers are also being drawn into this market trend, thus presenting a promising opportunity during the forecast period. Moreover, due to the COVID-19 pandemic, consumer spending on health monitoring devices has increased, with an increasing preference for online distribution. For instance, in March 2018, Omron Healthcare announced its plans to partner with e-commerce platforms in India to drive retail sales.

 

The global market growth for eHealth devices is significantly restrained by the high cost of devices and privacy issues. Consumers in developed nations are keen on using these technologies to track their health, with little concern over the cost of the devices. However, this parameter is still a major concern for consumers in developing nations. Another major consumer concern hindering the market growth for eHealth devices is the privacy and confidentiality regarding the data collected, with many patients reluctant to share their medical and health information. 

 

Browse through Grand View Research's Medical Devices Industry Research Reports

  • Remote Patient Monitoring System Market: The global remote patient monitoring system market size was valued at USD 4.4 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 18.5% over the forecast period.
  • Vital Signs Monitoring Devices Market: The global vital signs monitoring devices market size was valued at USD 9.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. 

 

Key Companies Profile

Some prominent players in the global eHealth devices market are:

  • Omron Corp.
  • Apple Inc.
  • Medtronic Plc.
  • DexCom, Inc.
  • Nokia Corp.
  • PHC Holdings Corporation
  • Abbott Laboratories
  • Hoffmann-La Roche AG
  • Doro AB 

 

Order a free sample PDF of eHealth Devices Market Intelligence Study, published by Grand View Research. 

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