Connected Medical Devices Market

By Product;

ECG Monitoring Devices, Insulin Pump, BP Monitor, Portable GPS PERS, Glucose Monitor, Pulse Oximeter, Smart Pill Dispenser, Heart Rate Monitor and Others

By Device;

Wearable and Non-Wearable

By Application;

Remote Monitoring, Consultation & Diagnosis Services, Treatment Services & Fitness and Wellness Services

By End User;

Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Home Care Settings/Monitoring

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn115682680 Published Date: August, 2025

Connected Medical Devices Market Overview

Connected Medical Devices Market (USD Million)

Connected Medical Devices Market was valued at USD 62,084.73 million in the year 2024. The size of this market is expected to increase to USD 208,572.85 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 18.9%.


Connected Medical Devices Market

*Market size in USD million

CAGR 18.9 %


Study Period2025 - 2031
Base Year2024
CAGR (%)18.9 %
Market Size (2024)USD 62,084.73 Million
Market Size (2031)USD 208,572.85 Million
Market ConcentrationLow
Report Pages306
62,084.73
2024
208,572.85
2031

Major Players

  • GE Healthcare, Inc.
  • Medtronic Plc
  • OMRON Corporation
  • Philips Healthcare
  • McKesson Corporation
  • Fitbit, Inc.
  • Johnson & Johnson
  • Boston Scientific Corporation
  • St. Jude Medical, Inc. (Abbott)
  • AgaMatrix, Inc.
  • Dexcom
  • F. Hoffmann-La Roche
  • Polar Electro
  • Health Labs (Subsidiary of Andon Health)
  • Aerotel Medical Systems Ltd.

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Connected Medical Devices Market

Fragmented - Highly competitive market without dominant players


The Connected Medical Devices Market is growing rapidly as providers deploy smart diagnostic tools for continuous patient monitoring across chronic diseases. Usage has increased by over 38%, fueled by demand for proactive healthcare models. These targeted strategies are embedding connected devices into care plans and supporting broad market expansion.

Connectivity Features Boost Device Adoption
Breakthrough technological advancements, such as cloud-connected sensors, Bluetooth wearables, and onboard analytics, have driven a 41% rise in adoption. These capabilities enable data synchronization, remote diagnostics, and automated alerts. Continued innovation reinforces platform versatility and supports sustained growth in device ecosystems.

Collaborative Ecosystems Streamline Integration
About 30% of device makers are forming partnerships and collaborations with software firms and telehealth providers to integrate devices into care workflows. These collaborations shape product strategies, ensure interoperability, and support compliance. This integrated approach facilitates large-scale market expansion across provider networks.

Intelligent Devices Define Next Generation Care
Nearly 44% of new devices incorporate AI-powered diagnostics, predictive alerts, and automatic reporting features, marking a future outlook based on intelligent device ecosystems. These technological advancements enable early detection, maintenance optimization, and scalable market expansion through smart device deployment.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Device
    3. Market Snapshot, By Application
    4. Market Snapshot, By End User
    5. Market Snapshot, By Region
  4. Connected Medical Devices Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Remote Monitoring
        2. Telehealth
        3. Wearable Technology
        4. Chronic Disease Management
      2. Restraints
        1. Privacy and security concerns
        2. High initial costs
        3. Interoperability challenges
        4. Limited healthcare access
      3. Opportunities
        1. Expansion of telehealth services
        2. Rise in chronic disease management solutions
        3. Technological advancements in sensors and AI
        4. Aging population driving demand
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Connected Medical Devices Market, By Product, 2021 - 2031 (USD Million)
      1. ECG Monitoring Devices
      2. Insulin Pump
      3. BP Monitor
      4. Portable GPS PERS
      5. Glucose Monitor
      6. Pulse Oximeter
      7. Smart Pill Dispenser
      8. Heart Rate Monitor
      9. Others
    2. Connected Medical Devices Market, By Device, 2021 - 2031 (USD Million)
      1. Wearable
      2. Non-Wearable
    3. Connected Medical Devices Market, By Application, 2021 - 2031 (USD Million)
      1. Remote Monitoring
      2. Consultation And Diagnosis Services
      3. Treatment Services
      4. Fitness And Wellness Services
    4. Connected Medical Devices Market, By End User, 2021 - 2031 (USD Million)
      1. Hospitals
      2. Ambulatory Surgical Centers
      3. Specialty Clinics
      4. Home Care Settings/Monitoring
    5. Connected Medical Devices Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. GE Healthcare, Inc.
      2. Medtronic Plc
      3. OMRON Corporation
      4. Philips Healthcare
      5. McKesson Corporation
      6. Fitbit, Inc.
      7. Johnson & Johnson
      8. Boston Scientific Corporation
      9. St. Jude Medical, Inc. (Abbott)
      10. AgaMatrix, Inc.
      11. Dexcom
      12. F. Hoffmann-La Roche
      13. Polar Electro
      14. Health Labs (Subsidiary of Andon Health)
      15. Aerotel Medical Systems Ltd.
  7. Analyst Views
  8. Future Outlook of the Market