Global Connected Healthcare market growth 2024, Forecast To 2033

The connected healthcare market has experienced exponential growth, escalating from $124.39 billion in 2023 to $158.37 billion in 2024, reflecting a substantial compound annual growth rate (CAGR) of 27.3%. The surge in the historic period is attributed to factors such as an aging population, increasing chronic diseases, adoption of digital health, considerations related to healthcare costs and efficiency, a boost in remote patient monitoring, and heightened demand induced by the pandemic. Foreseeing continued exponential growth, the market size is projected to reach $424.8 billion in 2028, driven by a CAGR of 28.0%. Growth in the forecast period can be linked to the increasing adoption of personalized medicine, health data interoperability, the prevalence of value-based care models, a growing focus on mental health and well-being, efforts towards healthcare access and equity, rising concerns about cybersecurity and data protection, and an increasing demand for population health management. Key trends include the expansion of IoT devices and sensors, artificial intelligence in healthcare, wearable health technology, technological advancements, and product innovations.