eHealth Devices Market Size, Share & Trends Analysis Report By Type (Blood Pressure Meters, Fever Meters, Glucose Meters, Care Phone/Social Alarms), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2021 - 2028

Report Overview

The global eHealth devices market size was valued at USD 13.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2021 to 2028. The growth of the market is significantly driven by increasing adoption due to the prevalence of chronic diseases and lifestyle diseases such as high blood pressure, diabetes, and heart problems. According to the International Diabetes Federation, in 2019, approximately 463.0 million adults were living with diabetes and reaching 700 million by 2045. The rising prevalence of diabetes disease is expected to drive the demand for glucose meter devices.

Technological developments in the area of IoT and AI coupled with the growing population of older demography are likely to propel market growth of the internet-assisted eHealth devices such as care phone/ social alarms. 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, demand for fever meters spiked drastically for tracking the temperature and fever conditions.

The growth of the market for eHealth devices is significantly restrained by the high cost of the 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, the high cost of these devices is still a major concern for consumers in developing nations. Another major consumer concern hindering the growth of the market for eHealth devices is the privacy and confidentiality regarding the data collected, with many patients reluctant to share the medical and health information.

Type Insights

The glucose meters’ segment dominated the market for eHealth devices and accounted for the largest revenue share of over 30.0% in 2020. The smart glucose meter continuously detects the blood glucose level and collects information that is transmitted via electronic signals. The global prevalence of diabetes and growing awareness about diabetes care solutions is driving the demand for glucose meter. Moreover, continuous tracking of glucose automatically provides an advantageous solution compared to the traditional one-time self-monitoring glucose devices.

In the market for eHealth devices, the blood pressure meter segment is anticipated to witness the highest CAGR of 9.8% from 2021 to 2028. With the hectic and stressful lifestyle around the world, cases of heart problems and blood pressure are increasing rapidly. Risk of high blood pressure and hypertension increases after the age of 45. In 2019, the geriatric population worldwide was 703.0 million. This number is increasing at fast pace, according to the United Nations data, world population above age 65 in 2030 will reach 997 million. This leads to the increasing demand for blood pressure meter devices.

Regional Insights

North America dominated the eHealth devices market and accounted for the largest revenue share of over 35.0% in 2020. Market dominance is credited to the high product awareness and strong presence of the key players in the region such as DexCom, Inc., Abbott Laboratories, and Apple Inc. increased consumer spending, high per capita income, and GDP also accounts for the growth of the market in the region. Moreover, higher government and private funding for R&D in the U.S. also results in higher product launches. According to the CDC report on National Diabetes Statistics 2020, in 2020, 34.2 million, 10.5% population in the U.S. had diabetes and 34.5% of the adult population had prediabetes.

In Asia Pacific, the market for eHealth devices is anticipated to witness a higher CAGR of 9.9% from 2021 to 2028.Asia Pacific is the fastest-growing region with a significant share of economic output and economic growth concentrating in major cities. The regional growth is attributed to the increasing consumer purchasing power and improving the healthcare sector. In addition, rising government initiation and foreign investments are also expected to flourish the market conditions and drive market growth. Moreover, rising demand for advanced glucose monitoring devices among adults and children living with diabetes in India is expected to drive the market in the region.

Key Companies & Market Share Insights

Key players operating in the market for eHealth devices are focusing particularly on R&D and product innovation, in order to provide smart, convenient and accurate devices. For instance, on October 17^th, 2019, Omron Healthcare Inc., a division of Omron Corporation, launched redesigned models of its blood pressure monitors with a sleeker design and more connectivity with the Omron Connect app. On November 2^nd, 2020, Abbott Laboratories announced the launch of the FreeStyle Libre system, continuous glucose monitoring (CGM) technology for adults and children in India. Some of the prominent players in the eHealth devices market include:

• Omron Corp.
• Apple Inc.
• Medtronic Plc.
• DexCom, Inc.
• Nokia Corp.
• PHC Holdings Corporation
• Abbott Laboratories
• Hoffmann-La Roche AG
• Doro AB

eHealth Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global eHealth devices market report on the basis of type and region:

• Type Outlook (Revenue, USD Million, 2017 - 2028)
  • Blood Pressure Meters
  • Fever Meters
  • Glucose Meters
  • Care Phone/Social Alarms
• Regional Outlook (Revenue, USD Million, 2017 - 2028)
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa