DUBLIN, Dec. 13, 2022 (GLOBE NEWSWIRE) — The “Connected Care in North America – 2nd Edition” report has been added. ResearchAndMarkets.com offering
The report says 31 million North Americans will use connected care solutions in 2022
How should the mobile industry address the huge business opportunity in the connected care market? The analyst predicts that the number of cellular connections in the connected care market in North America will grow from 19.6 million in 2021 to over 36.6 million in 2027. Learn more about how wireless technology can seamlessly integrate with medical alerting, connected medication management. and remote patient monitoring (RPM) solutions in this 145 page in-depth report.
The report found that nearly 30.7 million people in North America were using connected care solutions at the end of 2022. This figure uses medical alert systems, connected medication management solutions and remote patient monitoring (RPM) solutions in Canada and the US. . RPM is the largest segment of the connected care market with a total of 28.3 million users at the end of 2022.
The market for medical alert systems is significantly smaller with an estimated total of 4.4 million users, while the number of connected medication management users has reached 1.8 million users at the end of 2022. There is overlap between market segments as can medical alert users. Be equipped with a medication management solution or RPM solution and vice versa. The market is forecast to grow at a compound annual growth rate (CAGR) of 15.4 percent over the next five years to reach 62.7 million connected care users by 2027.
The market is forecast to grow at a compound annual growth rate (CAGR) of 18.3 percent over the next six years to reach 49.4 million connected care users by 2024. By far the leading use cases for RPM are sleep therapy monitoring. Patients suffering from sleep-disordered breathing such as obstructive sleep apnea are commonly prescribed airflow generators, including continuous positive airway pressure, bilevel positive airway pressure, and automatic positive airway pressure devices. However, many patients find using the devices unpleasant and poor compliance is common. Payers are increasingly requiring that patients adhere to their treatment plans to be reimbursed for the device, prompting equipment providers to connect the devices. ResMed is the largest player in connected airflow generators, thanks in part to the company’s decision to include cellular IoT modules as standard in its Air Solutions product family.
Key market trends
- An aging population increases healthcare costs
- The sunset of 2G/3G cellular networks has ushered in 4G devices
- Standalone systems will be replaced by platform solutions
- Favorable policies that align financial incentives are driving RPM adoption
- Covid-19 became a catalyst that inspired the adoption of RPM
- The growth of lightweight solutions is expanding the market
- The market for connected medication management is gaining traction
- From remote patient monitoring to data-driven patient engagement
- A growing market and new entrants lead to a changing market landscape
- Convergence between Medical Alert Systems and RPM Solutions
This report answers the following questions:
- What are the main verticals in connected care?
- What are the key drivers of this market in North America?
- How many people are using connected care solutions in the US and Canada?
- What are the general technology trends for connected care products?
- What are the leading medical alert system providers in North America?
- How will the connected care market evolve over the next six years?
- How are new reimbursement policies impacting the connected care market?
- What is the potential market size for cellular IoT connectivity?
Main topics covered:
1 Healthcare in North America
2 Medical Alert Solutions
3 Medication management solutions
4 Remote Patient Monitoring Solutions
5 Market Forecasts and Conclusions
- A&D Medical
- Aloe Care Health
- AMC Health
- Boston Scientist
- Care innovations
- Climax Technology
- Compliance Meds Technologies
- Join America
- Current health
- Essence Group
- Fisher & Paykel Healthcare
- Get real health
- GTX Corp
- Handsfree Health
- Health Recovery Solutions (HRS)
- Hero Health
- Information Media Corporation
- Laipac Technology
- Lark health
- Life Alert Emergency Response
- Live (Best Buy)
- Medical Guardian
- Merck Group
- Non medical
- Nortek control
- Omada Health
- Omron Healthcare
- Propeller health
- Razeel (The Ideal Life)
- Spencer Health Solutions
- Wire imaging
- Make health come alive
For more information about this report visit https://www.researchandmarkets.com/r/2uukdr
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Connected Care Users North America 2021-2027