Emphasis on Type (Blood Pressure Meters, Fever Meters, Glucose Meters, and Social Alarms);End-users(Hospitals and Clinics, Homecare, and Diagnostic centers); Region/Country
Global eHealth Devices Market is anticipated to grow with an elevated CAGR of around 9% over the forecast period (2021-2027). eHealth devices include a wide variety of various healthcare products like heart rate monitors, blood glucose monitors, and others. these devices are portable, user-friendly, and allow patients to keep regular track of their health in the comfort of their homes.
With the rapid advancement in technology and rising awareness among the target population regarding the at-home monitoring solutions, many industry players are focusing on expanding their portfolio by launching new services and products in the market due to which the eHealth Devices market is witnessing an uptick all over the globe. For example, in June 2021, Max Healthcare, one of the largest healthcare providers in India launched an artificial intelligence (AI) powered device integrated patient monitoring framework in collaboration with digital health solutions provider MyHealthcare. Patients can use the platform Max MyHealth to monitor their vitals with clinical devices integrated to the app, allowing clinical readings to flow seamlessly from the device into the app and into the electronic medical records (EMR), for the doctor’s review. Furthermore, the demand for eHealth Devices is increasing on account of the growth in the aging population coupled with the rising prevalence of numerous chronic diseases across the globe.
Abbott Laboratories, Bioptik Technology Inc., F. Hoffmann-La Roche Ltd., Medtronic Plc, Johnson & Johnson, Philips Healthcare, Omron Healthcare, Fitbit, Chongqing Haray International Business, VectraCor Inc., are some of the prominent players operating in the eHealth Devices market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of eHealth Devices devices.
Insights Presented in the Report
“Amongst Type, glucose meter segment holds the major share”
Based on type, the market is segmented into blood pressure meters, fever meters, glucose meters, and social alarms. The glucose meter segment accounted for a significant market share in 2020 and it is estimated that it will exhibit a higher CAGR during the forecast period. The growth of this segment is mainly due to the increasing number of diabetic patients globally. Furthermore, the demand for self-monitoring blood glucose devices is on the rise owing to the growing awareness regarding home monitoring of their blood sugar levels and the focus on regular diabetes management among patients to reduce the risk of hyperglycemic conditions.
“Amongst end-users, homecare segment holds the major share”
Based on application, the eHealth Devices market is divided into children, adults, and senior citizens. The old segment grabbed a significant market share in 2020 and is anticipated to grow at a rapid rate in the upcoming years owing to the rapidly increasing geriatric population and rising prevalence of various chronic diseases among them. For instance, as per the WHO, between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. Also, 1 in 6 people in the world will be aged 60 years or over by 2030.
“North America represents one of the largest markets of eHealth Devices market”
For a better understanding of the market dynamics of the eHealth Devices market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. In 2020, North America dominated the eHealth Devices industry. This is mainly due to the rising demand for electronic health monitoring devices among patients suffering from diseases such as asthma, and cardiovascular diseases, such as diabetes. As per CDC, Heart disease is the leading cause of death in the United States about 659,000 people in the United States die from heart disease each year.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Ehealth Devices Market Covid-19 Impact
6. Global Ehealth Devices Market Revenue, 2019-2027f
7. Market Insights By Type
8. Market Insights By End-users
9. Market Insights By Region
10. Ehealth Devices Market Dynamics
11. Ehealth Devices Market Opportunities
12. Ehealth Devices Market Trends
13. Legal & Regulatory Framework
14. Demand And Supply Side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global eHealth Devices market were the three major steps undertaken to create and analyze the adoption of eHealth Devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global eHealth Devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the eHealth Devices through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the eHealth Devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of eHealth Devices across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the eHealth Devices. Further, we conducted factor analysis using dependent and independent variables such as the growing number of people with chronic diseases and the increasing elderly population all over the globe. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the eHealth Devices sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the eHealth Devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the eHealth Devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application of the eHealth Devices market.
The main objective of the EHealth Devices Market Study
The current & future market trends of eHealth Devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Deep dive regional level analysis of the industry
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