EHealth Devices Market– Statistics And Analysis & Forecast To 2028Posted by Mrudula Karmarkar on December 23rd, 2022 The global eHealth devices market size is estimated to reach USD 28.1 billion by 2028 by advancing at a CAGR of 9.4% from 2022 to 2028, according to a new report by Grand View Research, Inc. The market growth for eHealth is significantly driven by the increasing demand for blood pressure meters and care phone/social alarms from the rising geriatric population around the world. The rapidly increasing sedentary lifestyle and lack of physical activity have given rise to various lifestyle diseases such as obesity and diabetes. The rising prevalence of chronic lifestyle diseases is expected to propel market growth in the near future. Technological developments and product launches with more sophisticated functioning and accuracy are expected to boost market growth. However, the high cost of devices and privacy issues will act as restraints for the eHealth device market. The rising investment and increased spending on research and development by key players and governments are also expected to facilitate market growth. Owing to the increasing investments, new products are being developed at a rapid pace. For instance, the Indian government has commenced various programs and initiatives in order to strengthen the medical and health devices sector, with emphasis on research and development, as well as 100% foreign direct investment in the market. In January 2022, the health-tech startup BlueSemi, based in India, announced the development of a needle-free glucose meter providing results in 1 minute. The demand for eHealth devices surged during the COVID-19 pandemic. As a result of COVID-19, consumers started looking for safe ways for health tracking, and healthcare providers sought innovative ways to deliver safe healthcare access. This led to the increased adoption of eHealth devices and services during the pandemic, which has subsequently positively impacted the market growth. In the global eHealth device market, the blood pressure meter segment is anticipated to witness the highest CAGR of 9.8% from 2022 to 2028. The worldwide cases of hypertension are increasing at an alarming rate due to various hereditary and environmental causes. A busy and hectic lifestyle, and increasing consumption of unhealthy fast-food, are the leading causes of the development of hypertension. According to the World Health Organization, approximately 1.28 billion adults worldwide have hypertension, with 46% of adults being unaware of their condition. The sharply rising population aged 60 and above is also driving the demand for blood pressure meters, as the risk of hypertension increases with age. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/ehealth-devices-market-report/request/rs1 The eHealth device market growth is propelled by increasing government initiatives for the enhancement of the healthcare sector, and rising investments from private firms and governments. Government initiatives are likely to increase the accessibility and availability of these devices during the forecast period. For instance, in January 2022, a health-tech startup, BlueSemi, bagged funding from a New York-based investment fund, amounting to USD 69 million. The COVID-19 pandemic had a favorable impact on the eHealth market, despite the economic slowdown in many countries. Due to the pandemic, consumer perception has changed and reshaped, which led to an increase in the adoption of health tracking devices and preventive care measures. During the pandemic, the demand for fever meters spiked drastically for tracking temperature and fever conditions among consumers. eHealth Devices Market Report Highlights
Technological developments and innovative product launches are expected to drive consumer purchase and spending during the forecast period and support the global market growth. Various key players are carrying out extensive research and development activities to improve functions and add new aesthetics to these devices. For instance, in January 2021, Doro AB, based in Sweden, announced the launch of the next-generation social alarm, Doro Eliza. This technology-enabled care specialist is based on 4G technology and connects to other IP networks. Online distribution or e-commerce platforms have been on the rise over the years, owing to their increasing popularity among consumers. eHealth device manufacturers are also being drawn into this market trend, thus presenting a promising opportunity during the forecast period. Moreover, due to the COVID-19 pandemic, consumer spending on health monitoring devices has increased, with an increasing preference for online distribution. For instance, in March 2018, Omron Healthcare announced its plans to partner with e-commerce platforms in India to drive retail sales. The global market growth for eHealth devices is significantly restrained by the high cost of devices and privacy issues. Consumers in developed nations are keen on using these technologies to track their health, with little concern over the cost of the devices. However, this parameter is still a major concern for consumers in developing nations. Another major consumer concern hindering the market growth for eHealth devices is the privacy and confidentiality regarding the data collected, with many patients reluctant to share their medical and health information. List of Key Players of eHealth Devices Market
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