U.S. Connected Care Market Outlook and Forecast 2020-2025: Impact of COVID-19 – ResearchAndMarkets.com – Business Wire

DUBLIN–(BUSINESS WIRE)–The “Connected Care Market in US – Industry Outlook & Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included

The study considers the present scenario of the U.S. connected care market and its market dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

The U.S. connected care market by revenue is expected to grow at a CAGR of over 16% during the period 2019-2025.

Connected care is bringing patient and clinical management together in the realm of care continuum by linking caregivers, payers, physicians to patients from across clinics, hospitals, and homes. It is driving the development of care through proven clinical care pathways and better workflows. The growing enthusiasm for telehealth has seen a lot of interest and investments from major health companies. From tele-neonatology programs to virtual hospitals, all systems have prompted the transition to digital health.

Further, the COVID-19 pandemic has driven new realities in the healthcare industry of interoperability and agility. The need for remote collaborations in healthcare facilities and patients has given connected care a faster momentum. The market growth is rooted in telehealth and is largely known to constitute RPM and telehealth. However, the trend of virtual medicine increasingly streaming video, patient data and test results straight to clinicians has opened up new frontiers.

The following factors are likely to contribute to the growth of the U.S. connected care market during the forecast period:

  • Artificial Intelligence transforming healthcare
  • Less Invasive, More Invisible
  • BYOD and Wearables Gain Momentum
  • Reconfiguration of the Healthcare System due to COVID-19

U.S. Connected Care Market Segmentation

The U.S. connected care market research report includes a detailed segmentation by type, component, end-user, and geography.

The RPM segment is witnessing growth on account of better clinical and patient experience, lower costs, and improved outcomes. In 2019, several clients carried out pilot RPM programs, which they expanded swiftly in 2020, are driving the demand for specialized monitoring systems. Simplifying Bluetooth technology is expected to be crucial for mainstreaming the adoption of RPM technology. Further, tablets and smartphones are coming to the front as they can be linked to healthcare wearables and telehealth video conferencing and allow for the implementation of electronic health record-based patient portals.

The medical alert systems market has significantly grown and changed recently. The shortage of healthcare workforce and the limitations in long-term services and supports (LTSS) formal care systems are leading to increased demand for PERS systems. A majority of clinicians, home and healthcare professionals, and case managers are advocating the use of these devices among the elderly, driving volume growth. The market has made a shift from landline to mobile PERS over the last half of the decade as consumers are increasingly getting rid of landline phones.

The software and services segment has been witnessing significant progress in the recent past owing to heightened acceptance for connected care and increased demand for better data collection. Connected devices collect data, analyze, and display them and analyze self-reported data from patients. The software and services segment is expected to reach over $20 billion by 2025. The regulatory environment is showing signs of favorability, making it easy for players to navigate the market and roll out new solutions. However, the low ability of transference of technology across several therapy areas is a major challenge, which is reducing implementation.

The acceptance for homecare settings is growing. A growing number of organizations, which are debuting and scaling models to move acute, primary, and palliative care to the home, is driving the segment growth. As healthcare is increasingly shifting into homes owing to population health efforts and demand for personalized healthcare, medical devices are being designed to be used within the setting. Players in the market are working on making devices automatic and invisible in terms of design that they can integrate seamlessly into consumers’ lives, thereby increasing the demand.

The growth of virtual hospitals on account of the development of IoT is driving the demand for onsite connected care solutions. The rise of dedicated patient portals, which are putting power in the hand of patients to take more control by both gaining access to and feeding in their health information and images. The U.S. connected care market shares is expected to observe growth opportunities by going beyond traditional patient care and expanding into therapy, combining with RPM platforms to monitor the patient’s progress.

Insights by Vendors

The U.S. connected care market is moderately fragmented. New entrants are offering new solutions with new technologies such as IoT, AI, and predictive analytics. Players are expected to witness a more competitive and challenging atmosphere due to the increased new regulatory pressure, legal scrutiny and due to the forces of new, innovative players in the healthcare space. The market competition is expected to play out in one or more ways. Technology and MedTech players could differentiate their offerings and occupy exclusive areas in the market; provide fragmented service and product offerings; bring everything within the company by creating an in-house data platform that can connect to several devices; offer advanced predictive diagnosis and user-friendly devices but keep the health-based data within the MedTech ecosystem.

Key Questions Answered

1. What is the U.S. connected care market size and growth rate during the forecast period?

2. What are the factors impacting the growth of the U.S. connected care market shares?

3. How is the growth of the hospitals & clinics segment influencing the growth of the U.S. connected care market?

4. Who are the leading vendors in the U.S. connected care market, and what are their market shares?

5. What is the impact of the COVID-19 pandemic on the U.S. connected care market?

Key Topics Covered

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope Of The Study

4.4 Market Segment

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 State Of The United States Economy

7.3 Technologies That Enable Connected Care

7.4 Success Strategies

8 Market Opportunities & Trends

8.1 AI Transforming Care

8.2 Less Invasive, More Invisible

8.3 Rise Of Personal Healthcare Companions And Virtual Assistants

8.4 BYOD And Wearables Gain Momentum

9 Market Growth Enablers

9.1 COVID-19 Drives Reconfiguration Of The Healthcare System

9.2 Shift From Reactive To Proactive Healthcare

9.3 Medication Non-Adherence

9.4 Consumerization And Personalization Of Healthcare

10 Market Restraints

10.1 Data Security & Regulatory Risks

10.2 Reluctance Hinders Adoption

10.3 Lack Of Reliability

10.4 Usability Issues Beyond Typical Design Challenges

11 Market Landscape

11.1 Market Size & Forecast

11.2 Five Forces Analysis

12 Type

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 RPM

12.4 PERS

12.5 Connected Medication Management

13 Component

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Software And Services

13.4 Hardware

14 End-Use

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Home Care Settings

14.4 Hospitals/ Clinics

14.5 Others

15 Delivery

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.3 Onsite

15.4 Mobile

16 Competitive Landscape

16.1 Competition Overview

16.2 Market Ranking Analysis

17 Key Company Profiles

17.1 Koninklijke Philips

17.2 Resmed

17.3 Boston Scientific

17.4 Medtronic

17.5 Connect America

18 Other Prominent Vendors

18.1 Adheretech

18.2 A&D Medical

18.3 Anelto

18.4 Biotronik

18.5 Cohero Health

18.6 Essence Group

18.7 GE Healthcare

18.8 Greatcall

18.9 Logicmark

18.10 Mobilehelp

18.11 Mytrex

18.12 Nortek Security & Control

18.13 Freeus

18.14 Masimo

18.15 Pillsy

18.16 Resideo

18.17 SMRXT

18.18 Valued Relationships

For more information about this report visit https://www.researchandmarkets.com/r/wiiok8

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Author: HOCAdmin