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 OthersBy Device;
Wearable and Non-WearableBy Application;
Remote Monitoring, Consultation & Diagnosis Services, Treatment Services & Fitness and Wellness ServicesBy End User;
Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Home Care Settings/MonitoringBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)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 Period | 2025 - 2031 |
---|---|
Base Year | 2024 |
CAGR (%) | 18.9 % |
Market Size (2024) | USD 62,084.73 Million |
Market Size (2031) | USD 208,572.85 Million |
Market Concentration | Low |
Report Pages | 306 |
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.
Connected Medical Devices Market Recent Developments
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In August 2022, Medtronic plc partnered with BioIntelliSense for exclusive U.S. hospital and 30-day post-acute hospital-to-home rights for the BioButton wearable. This collaboration enhances Medtronic’s Patient Monitoring business by providing continuous vital sign tracking for in-hospital and post-discharge patients.
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In January 2022, Abbott introduced Lingo, a new consumer bio-wearable designed to track key body signals such as ketones, glucose, and lactate. This device aims to help users gain deeper insights into their health and take appropriate actions based on the data.
Connected Medical Devices Segment Analysis
In this report, the Connected Medical Devices Market has been segmented by Product, Device, Application, End User and Geography.
Connected Medical Devices Market, Segmentation by Product
The Connected Medical Devices Market has been segmented by Product into ECG Monitoring Devices, Insulin Pump, BP Monitor, Portable GPS PERS, Glucose Monitor, Pulse Oximeter, Smart Pill Dispenser, Heart Rate Monitor and Others. ECG Monitoring Devices
Accounting for roughly 20% of the connected medical devices market, ECG monitoring devices are central to remote cardiac care and post-operative monitoring. Their continuous telemetry capability supports early detection of arrhythmias and reduces hospital readmissions through timely interventions.
Insulin PumpMaking up about 12% of the market, insulin pumps drive improved glycemic control by pairing automated insulin delivery with real-time data from glucose sensors. Integration with telehealth workflows and mobile apps enhances clinician oversight and patient self-management.
BP MonitorAt roughly 15% market share, connected blood pressure monitors are essential tools for remote hypertension management. They enable clinicians to track trends, optimize therapy remotely, and boost patient adherence through automated reporting.
Portable GPS PERSConstituting about 4% of the market, portable GPS PERS devices combine emergency alerting with location services, improving response times for elderly or vulnerable users. Their value centers on safety, independence, and caregiver reassurance.
Glucose MonitorRepresenting approximately 18% of the market, connected glucose monitors—especially continuous glucose monitoring (CGM) systems—are transforming diabetes care with continuous data streams, automated alerts, and cloud-based analytics for proactive therapy adjustments.
Pulse OximeterWith around 10% share, pulse oximeters remain key for remote respiratory assessment and management of chronic pulmonary conditions. Their simplicity and instant readings make them a staple in telemedicine kits.
Smart Pill DispenserAt about 3%, smart pill dispensers address medication nonadherence by dispensing scheduled doses, issuing reminders, and sharing adherence data with providers—especially useful in geriatric care.
Heart Rate MonitorContributing roughly 12% of the market, heart rate monitors serve both consumer fitness and clinical monitoring needs, enabling continuous heart-rate trend analysis and early detection of abnormal events.
OthersMaking up about 6%, the Others category includes emerging connected sensors such as remote thermometers, connected scales, and specialty biosensors. Regulatory approvals and innovation continue to expand this segment’s role in remote patient monitoring.
Connected Medical Devices Market, Segmentation by Device
The Connected Medical Devices Market has been segmented by Device into Wearable and Non-Wearable. Wearable
Commanding about 58% of the connected medical devices market, wearable devices are transforming how health data is collected and analyzed. From smartwatches and fitness bands to advanced medical-grade wearables, these tools deliver continuous vital sign monitoring, chronic disease tracking, and proactive alerts. The surge in consumer health engagement, paired with seamless telehealth integration, continues to accelerate adoption.
Non-WearableWith roughly 42% market share, non-wearable devices form the backbone of connected care in clinical and home settings. This segment includes connected diagnostic equipment, stationary monitors, and smart home healthcare systems designed for precision tracking and remote supervision. Growing demand for accurate, real-time medical insights is fueling their use in hospitals, clinics, and home healthcare programs.
Connected Medical Devices Market, Segmentation by Application
The Connected Medical Devices Market has been segmented by Application into Remote Monitoring, Consultation And Diagnosis Services, Treatment Services and Fitness And Wellness Services. Remote Monitoring
Representing about 40% of the connected medical devices market, remote monitoring empowers healthcare providers to track patient health in real time without requiring in-person visits. By integrating telehealth platforms and advanced vital sign monitoring tools, this segment plays a crucial role in chronic disease management, early detection, and hospital readmission reduction.
Consultation and Diagnosis ServicesHolding roughly 25% of the market share, consultation and diagnosis services use connected devices to deliver virtual consultations and instant diagnostic results. These services enhance healthcare accessibility, accelerate decision-making, and support patients in remote or underserved areas.
Treatment ServicesComprising nearly 20% of the market, treatment services involve connected devices that assist in or administer therapies. Examples include smart drug delivery systems, connected infusion pumps, and digital rehabilitation devices, ensuring higher treatment precision and patient adherence.
Fitness and Wellness ServicesWith about 15% share, fitness and wellness services focus on preventive care and lifestyle enhancement. Products such as fitness wearables, health tracking apps, and connected wellness platforms promote better health habits, making them popular among tech-savvy and health-conscious consumers.
Connected Medical Devices Market, Segmentation by End User
The Connected Medical Devices Market has been segmented by End User into Hospitals, Ambulatory Surgical Centers, Specialty Clinics and Home Care Settings/Monitoring. Hospitals
Holding about 45% of the connected medical devices market, hospitals are the largest end users due to their need for integrated monitoring systems, electronic health record connectivity, and advanced diagnostic tools. These devices streamline workflows, improve patient outcomes, and enable precise, data-driven decision-making in high-volume healthcare environments.
Ambulatory Surgical CentersRepresenting roughly 20% of the market, ambulatory surgical centers leverage connected medical devices to enhance surgical efficiency, maintain continuous patient vital tracking, and support effective post-operative monitoring. Their use helps reduce complications, shorten recovery times, and improve surgical outcomes.
Specialty ClinicsWith close to 15% share, specialty clinics adopt connected medical devices to deliver condition-specific care in specialties like cardiology, endocrinology, and neurology. These devices enable early diagnosis, facilitate precision treatments, and improve patient engagement in disease management.
Home Care Settings/MonitoringMaking up nearly 20% of the market, home care settings and remote monitoring solutions are gaining traction as patients seek convenient, at-home health management. These devices reduce hospital dependency, enable chronic disease tracking, and enhance patient independence and satisfaction.
Connected Medical Devices Market, Segmentation by Geography
In this report, the Connected Medical Devices Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
Connected Medical Devices Market Share (%), by Geographical Region.
North AmericaNorth America dominates the Connected Medical Devices Market with a 38% share, driven by strong healthcare infrastructure and early adoption of remote patient monitoring technologies. Supportive regulations and technology-driven care models further accelerate market growth.
EuropeEurope holds nearly 27% of the market, benefiting from advanced healthcare facilities and growing digital health adoption. Government-led initiatives and the rising prevalence of chronic diseases are fueling demand.
Asia PacificAsia Pacific accounts for about 22% of the market, supported by increasing healthcare investments, rapid urbanization, and higher patient awareness. Nations such as China, Japan, and India are leading in innovation and deployment.
Middle East and AfricaMiddle East and Africa capture 8% of the market, with growth powered by healthcare digitization, expanding telemedicine use, and strategic infrastructure upgrades. These advancements aim to improve care access in remote areas.
Latin AmericaLatin America holds a 5% share, with Brazil and Mexico at the forefront of connected device adoption. The region benefits from improved healthcare infrastructure and increasing demand for home care monitoring solutions.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Connected Medical Devices Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Remote Monitoring
- Telehealth
- Wearable Technology
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Chronic Disease Management - Chronic disease management represents a critical area within healthcare, focusing on the long-term care and treatment of conditions such as diabetes, cardiovascular diseases, chronic respiratory diseases, and cancer. These conditions typically require ongoing medical attention, lifestyle adjustments, and monitoring to prevent complications and optimize patient quality of life. Connected medical devices play a pivotal role in chronic disease management by providing continuous monitoring of vital signs, medication adherence tracking, and remote patient management capabilities.
Connected devices such as glucose monitors, insulin pumps, blood pressure monitors, and cardiac monitors enable real-time data collection and transmission to healthcare providers, facilitating timely interventions and personalized treatment adjustments. For example, continuous glucose monitors (CGMs) offer diabetic patients real-time insights into their blood glucose levels, helping them manage their insulin dosages more effectively and reduce the risk of hypoglycemia or hyperglycemia episodes.
Telehealth platforms integrated with connected medical devices enable healthcare professionals to conduct remote consultations, monitor patient progress, and provide education on disease management strategies. This approach not only enhances patient convenience but also reduces the need for frequent clinic visits, lowering healthcare costs and improving overall patient satisfaction. By empowering patients to actively participate in their care through accessible and personalized monitoring solutions, connected devices in chronic disease management contribute to better health outcomes, enhanced treatment adherence, and improved quality of life for individuals living with chronic conditions globally.
Restraints:
- Privacy and security concerns
- High initial costs
- Interoperability challenges
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Limited healthcare access - Limited healthcare access remains a significant challenge globally, impacting millions who lack adequate medical services due to various socio-economic, geographic, and infrastructural barriers. In many regions, especially rural and underserved areas, access to healthcare facilities, trained healthcare professionals, and essential medical supplies is limited or non-existent. This disparity is compounded by factors such as poverty, inadequate healthcare infrastructure, and cultural or societal barriers that prevent individuals from seeking or receiving timely medical care.
Connected medical devices present a promising solution to mitigate limited healthcare access by facilitating remote monitoring and telehealth services. These devices enable healthcare providers to reach patients in remote locations or areas with limited healthcare facilities. For example, portable diagnostic devices and telemedicine platforms equipped with connectivity features can connect patients with healthcare professionals for virtual consultations, diagnosis, and treatment planning. This approach reduces the need for patients to travel long distances to receive specialized care, thereby improving access to timely medical interventions and reducing healthcare disparities.
Mobile health (mHealth) applications integrated with connected devices provide educational resources, medication reminders, and health monitoring tools directly to patients' smartphones. This empowers individuals to actively manage their health and seek appropriate medical care when needed, regardless of their geographical location. Governments, non-profit organizations, and healthcare providers are increasingly leveraging these technologies to extend healthcare services to marginalized populations, enhance health outcomes, and promote health equity on a global scale.
Opportunities:
- Expansion of telehealth services
- Rise in chronic disease management solutions
- Technological advancements in sensors and AI
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Aging population driving demand - The aging population driving demand refers to the increasing proportion of elderly individuals within the global demographic landscape. As life expectancy rises and birth rates decline in many countries, the number of older adults aged 65 and above is growing significantly. This demographic shift presents both challenges and opportunities for healthcare systems worldwide.
One of the primary drivers of demand resulting from an aging population is the increased prevalence of chronic diseases and age-related health conditions. Older adults often require more frequent medical care, management of multiple chronic conditions such as diabetes, hypertension, and arthritis, as well as specialized care for conditions like dementia and Alzheimer's disease. Connected medical devices play a crucial role in meeting these healthcare needs by enabling remote monitoring, early detection of health issues, and personalized care management tailored to the unique health challenges faced by elderly patients.
The aging population's demand drives innovation in healthcare technologies aimed at improving quality of life and promoting independent living. Connected devices such as wearable health monitors, fall detection systems, medication dispensers, and telehealth platforms empower older adults to manage their health proactively from the comfort of their homes. These technologies not only enhance safety and reduce the risk of emergencies but also support aging in place by providing continuous health monitoring and access to healthcare services without the need for frequent hospital visits.
Competitive Landscape Analysis
Key players in Global Connected Medical Devices Market include:
- 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.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Device
- Market Snapshot, By Application
- Market Snapshot, By End User
- Market Snapshot, By Region
- Connected Medical Devices Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Remote Monitoring
- Telehealth
- Wearable Technology
- Chronic Disease Management
- Restraints
- Privacy and security concerns
- High initial costs
- Interoperability challenges
- Limited healthcare access
- Opportunities
- Expansion of telehealth services
- Rise in chronic disease management solutions
- Technological advancements in sensors and AI
- Aging population driving demand
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Connected Medical Devices Market, By Product, 2021 - 2031 (USD Million)
- ECG Monitoring Devices
- Insulin Pump
- BP Monitor
- Portable GPS PERS
- Glucose Monitor
- Pulse Oximeter
- Smart Pill Dispenser
- Heart Rate Monitor
- Others
- Connected Medical Devices Market, By Device, 2021 - 2031 (USD Million)
- Wearable
- Non-Wearable
- Connected Medical Devices Market, By Application, 2021 - 2031 (USD Million)
- Remote Monitoring
- Consultation And Diagnosis Services
- Treatment Services
- Fitness And Wellness Services
- Connected Medical Devices Market, By End User, 2021 - 2031 (USD Million)
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Home Care Settings/Monitoring
- Connected Medical Devices Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Connected Medical Devices Market, By Product, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- 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.
- Company Profiles
- Analyst Views
- Future Outlook of the Market