Europe Connected Health and Wellness Solutions Market Size, Share & Industry Trends Analysis Report By Product, By Personal Medical Devices Type, By Wellness Products Type, By Software & Services Type, By Function, By End User, By Application, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Europe Connected Health And Wellness Solutions Market would witness market growth of 19.0% CAGR during the forecast period (2021-2027).
Holistic input from connected health and wellness gadgets reduces barriers to growth and helps consumers lay out their goals, from physical fitness to mental health. Connected wellness devices that track health progress encourages users to stay engaged, make gamified motivation, which incorporates elements of fun and reward-based stimulation in personal goal setting, easier. New AI-powered fitness training tools along with smart platforms allow users to track their activities in real-time, improve their posture and technique, and create custom routines for daily activities.
Wearable devices can interpret indicators like body temperature, tone of voice, and heart rate into emotional markers to assist users to remain at the best state of their personal wellness targets as they move further monitoring physiological metrics to add psychological and mood assessments. Smart sensors and AI-based connected health devices are being used in emerging ambient health technologies to monitor sleep patterns, physical activity, heart rhythms, and a wide range of daily behavior, providing personalized, actionable personal health data in both clinical and at-home settings.
Because of the substantial increase in the usage of smartphones by patients as well as physicians, this region ranked second in the connected health and wellness solutions market. Additionally, the rise in remote monitoring services, which allow people to track their health and medical issues at any time from any location, is propelling the demand for connected health and wellness solutions. Germany's healthcare market is the largest across this region in terms of market volume, medical technology manufacturers, number of patients, and healthcare providers. Germany's total healthcare expenditures in 2019 were about €400 billion, Moreover, Over the past ten years, the market has increased at a rate of 4.1 percent. Healthcare is one of Germany's greatest economic sectors, with over 7.5 million jobs and exports of over €126 billion.
The Germany market dominated the Europe Connected Health And Wellness Solutions Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6,781.8 million by 2027. The UK market is estimated to grow at a CAGR of 18% during (2021 - 2027). Additionally, The France market would witness a CAGR of 19.9% during (2021 - 2027).
Based on Product, the market is segmented into Personal Medical Devices, Wellness Products, and Software & Services. Based on Personal Medical Devices Type, the market is segmented into Insulin Pumps, BP Monitor, Glucose Monitor, Personal Pulse Oximeter, and Others. Based on Wellness Products Type, the market is segmented into Digital Pedometer, Heart Rate Monitor, Body Analyzer, Sleep Quality Monitor, and Others. Based on Software & Services Type, the market is segmented into Fitness & Wellness App, Online Subscription, and Others. Based on function, the market is segmented into Telehealth and Clinical Monitoring. Based on End User, the market is segmented into Hospitals & Clinics and Home Monitoring. Based on Application, the market is segmented into Wellness & Prevention, Monitor, Diagnosis & Treatment, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Döhler Gmbh, Koninklijke DSM N.V., Handary S.A., Kemin Industries, Inc., Foodchem International Corporation, Nexira, Inc., Amway Corporation, The Green Labs LLC, Givaudan S.A., and Symrise AG.
Scope of the Study
Market Segments Covered in the Report:
- Personal Medical Devices
- Insulin Pumps
- BP Monitor
- Glucose Monitor
- Personal Pulse Oximeter
- Wellness Products
- Digital Pedometer
- Heart Rate Monitor
- Body Analyzer
- Sleep Quality Monitor
- Software & Services
- Fitness & Wellness App
- Online Subscription
- Clinical Monitoring
By End User
- Hospitals & Clinics
- Home Monitoring
- Wellness & Prevention
- Diagnosis & Treatment
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- Apple, Inc.
- Garmin Ltd.
- Boston Scientific Corporation
- General Electric (GE) Co.
- Dragerwerk AG & Co. KGaA
- Medtronic PLC
- Koninklijke Philips N.V.
- Omron Corporation
- Google LLC
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