Europe Connected Healthcare Device Market Outlook, 2029
The Europe Connected Healthcare Device Market is estimated at USD 66.09 billion in 2024 , driven by rising chronic diseases .
- Bonafide Trust
- 30-01-2024
- Pages : 133
- Figures : 62
- Tables : 36
- Region : Europe
- Category : Lifescience
- Healthcare
According to publisher, Here is the Europe Connected Healthcare Device Market Report
Market Insights
The European connected healthcare device market is experiencing significant growth, driven by rising chronic diseases, an aging population, and increasing government support for remote patient monitoring. The market size is estimated at USD 66.09 billion in 2024 and is projected to reach USD 132.81 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 14.98%. This growth is fueled by the benefits of connected devices, such as improved patient outcomes, reduced healthcare costs, and enhanced patient engagement.
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Download SampleMarket Dynamics
Growth Drivers:
Rising chronic diseases: Chronic diseases like diabetes and heart failure are on the rise in Europe, creating a demand for connected devices for remote monitoring and management. For example, continuous glucose monitoring devices allow diabetic patients to track their blood sugar levels in real-time, improving disease management.
Aging population: As the European population ages, the demand for connected devices for remote care and chronic disease management is expected to surge. Connected devices can help elderly patients maintain their independence by enabling remote monitoring of vital signs and medication adherence.
Government support: Governments across Europe are increasingly supporting the adoption of connected healthcare devices through reimbursement programs and telemedicine initiatives. This incentivizes healthcare providers to integrate connected devices into their care models.
Challenges:
Data security and privacy concerns: The collection and storage of patient data by connected devices raise concerns about data security and privacy breaches. Stringent regulations like GDPR (General Data Protection Regulation) add complexity for manufacturers.
Interoperability issues: The lack of interoperability between different connected devices from various vendors can hinder data sharing and limit the effectiveness of remote care.
Reimbursement challenges: Reimbursement policies for connected devices vary across Europe, creating uncertainty for healthcare providers and hindering adoption.
Market Segments
The European connected healthcare device market is segmented by:
Device type: Wearable devices (smartwatches, fitness trackers), implantable devices (pacemakers), and home-based devices (blood pressure monitors). Wearable devices are expected to be the fastest-growing segment, driven by increasing consumer awareness and technological advancements.
Application: Chronic disease management (diabetes, heart disease), remote patient monitoring, medication adherence, and telehealth. Chronic disease management is currently the largest segment, but remote patient monitoring is expected to see significant growth due to the COVID-19 pandemic's impact on telehealth adoption.
Regional Analysis
The major European connected healthcare device markets include Germany, France, the United Kingdom, Italy, and Spain. These countries have well-developed healthcare infrastructure, a high prevalence of chronic diseases, and government support for digital health initiatives. Eastern Europe is expected to witness significant growth in the coming years due to increasing healthcare spending and growing internet penetration.
Key Developments
In 2023, Medtronic received CE Mark approval for its Guardian™ Connect insulin pump with continuous glucose monitoring, allowing for remote monitoring by healthcare providers.
In 2022, Abbott launched its FreeStyle Libre 3 sensor, a continuous glucose monitoring device with a smaller and sleeker design, promoting patient comfort and adoption.
Governments across Europe are investing in telemedicine infrastructure and developing policies to support the integration of connected devices into healthcare delivery.
Competitive Landscape
The European connected healthcare device market is highly competitive, with a mix of established medical device companies and emerging startups. Major players include:
Medtronic
Abbott Laboratories
Philips
Siemens Health
Roche Diagnostics
These companies are focusing on innovation, developing new connected devices with advanced features and functionalities. Additionally, they are pursuing strategic partnerships with healthcare providers and telemedicine companies to expand their reach and market share.
Table of Contents
- 1 Introduction 7
- 1.1 Industry Definition and Research Scope 7
- 1.1.1 Industry Definition 7
- 1.1.2 Research Scope 8
- 1.2 Research Methodology 11
- 1.2.1 Overview of Market Research Methodology 11
- 1.2.2 Market Assumption 12
- 1.2.3 Secondary Data 12
- 1.2.4 Primary Data 12
- 1.2.5 Data Filtration and Model Design 13
- 1.2.6 Market Size/Share Estimation 14
- 1.2.7 Research Limitations 15
- 1.3 Executive Summary 16
- 2 Market Overview and Dynamics 19
- 2.1 Market Size and Forecast 19
- 2.1.1 Impact of COVID-19 on World Economy 20
- 2.1.2 Impact of COVID-19 on the Market 25
- 2.1.3 Impact of Russia-Ukraine Conflict 27
- 2.1.4 Impact of Israel-Palestine War 29
- 2.2 Major Growth Drivers 30
- 2.3 Market Restraints and Challenges 34
- 2.4 Emerging Opportunities and Market Trends 37
- 2.5 Porter’s Fiver Forces Analysis 41
- 3 Segmentation of Europe Market by Product 45
- 3.1 Market Overview by Product 45
- 3.2 Medical Devices 47
- 3.2.1 Blood Pressure Monitor 49
- 3.2.2 Glucose Monitor 50
- 3.2.3 Insulin Pump 51
- 3.2.4 ECG Monitoring Device 52
- 3.2.5 Pulse Oximeter 53
- 3.2.6 Portable GPS PERS 54
- 3.2.7 Smart Pill Dispenser 55
- 3.2.8 Other Medical Devices 56
- 3.3 Wellness Devices 57
- 3.3.1 Body Analyzer 59
- 3.3.2 Digital Pedometer 60
- 3.3.3 GPS Sports Watch 61
- 3.3.4 Heart Rate Monitor 62
- 3.3.5 Sleep Quality Monitor 63
- 3.3.6 Other Wellness Devices 64
- 3.4 Software & Services 65
- 3.4.1 Fitness & Wellness App 66
- 3.4.2 Online Subscription 67
- 3.4.3 Other Software & Services 68
- 4 Segmentation of Europe Market by Device Type 69
- 4.1 Market Overview by Device Type 69
- 4.2 Wearable Devices 71
- 4.3 Implantable Devices 72
- 4.4 Stationary Devices 73
- 5 Segmentation of Europe Market by Application 74
- 5.1 Market Overview by Application 74
- 5.2 Remote Monitoring 76
- 5.3 Consultation and Diagnosis Services 77
- 5.4 Treatment Services 78
- 5.5 Fitness and Wellness Services 79
- 6 Segmentation of Europe Market by End User 80
- 6.1 Market Overview by End User 80
- 6.2 Hospitals 82
- 6.3 Specialty Clinics 83
- 6.4 Ambulatory Surgical Centers (ASCs) 84
- 6.5 Home Care Settings 85
- 6.6 Other End Users 86
- 7 European Market 2023-2033 by Country 87
- 7.1 Overview of European Market 87
- 7.2 Germany 90
- 7.3 U.K. 92
- 7.4 France 94
- 7.5 Spain 96
- 7.6 Italy 98
- 7.7 Netherlands 100
- 7.8 Rest of European Market 102
- 8 Competitive Landscape 104
- 8.1 Overview of Key Vendors 104
- 8.2 New Product Launch, Partnership, Investment, and M&A 107
- 8.3 Company Profiles 108
- Abbott Laboratories 108
- Aerotel Medical System Ltd. 110
- AgaMatrix, Inc. 111
- Apple Inc. 112
- BioTelemetry Inc. 113
- Biotronik SE & Co. KG 114
- Boston Scientific Corporation 115
- DexCom Inc. 116
- Draeger Medical Systems, Inc. 117
- F. Hoffmann-La Roche AG 118
- Fitbit, Inc. 119
- Garmin Ltd. 120
- GE Healthcare 121
- Honeywell International Inc. 122
- IHealth Labs (Subsidiary of Andon Health) 123
- Johnson & Johnson 124
- Koninklijke Philips NV 125
- McKesson Corporation 126
- Medtronic PLC 127
- NXP Semiconductors NV 128
- Omron Healthcare Inc. 129
- Phillips Healthcare Company 130
- Siemens Healthcare Private Limited 131
- Stanley Healthcare 132
- RELATED REPORTS 133
Table 1. Snapshot of Europe Connected Healthcare Device Market in Balanced Perspective, 2023-2033 17
Table 2. World Economic Outlook, 2024-2036 22
Table 3. World Economic Outlook, 2022-2024 24
Table 4. Scenarios for Economic Impact of Ukraine Crisis 28
Table 5. Scenarios for Economic Impact of Israel-Palestine War 29
Table 6. Main Product Trends and Market Opportunities in Europe Connected Healthcare Device Market 37
Table 7. Europe Connected Healthcare Device Market by Product, 2023-2033, $ mn 45
Table 8. Europe Connected Healthcare Device Market: Medical Devices by Type, 2023-2033, $ mn 48
Table 9. Europe Connected Healthcare Device Market: Wellness Devices by Type, 2023-2033, $ mn 58
Table 10. Europe Connected Healthcare Device Market: Software & Services by Type, 2023-2033, $ mn 65
Table 11. Europe Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 69
Table 12. Europe Connected Healthcare Device Market by Application, 2023-2033, $ mn 74
Table 13. Europe Connected Healthcare Device Market by End User, 2023-2033, $ mn 80
Table 14. Europe Connected Healthcare Device Market by Country, 2023-2033, $ mn 89
Table 15. Germany Connected Healthcare Device Market by Product, 2023-2033, $ mn 91
Table 16. Germany Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 91
Table 17. Germany Connected Healthcare Device Market by End User, 2023-2033, $ mn 91
Table 18. U.K. Connected Healthcare Device Market by Product, 2023-2033, $ mn 93
Table 19. U.K. Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 93
Table 20. U.K. Connected Healthcare Device Market by End User, 2023-2033, $ mn 93
Table 21. France Connected Healthcare Device Market by Product, 2023-2033, $ mn 95
Table 22. France Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 95
Table 23. France Connected Healthcare Device Market by End User, 2023-2033, $ mn 95
Table 24. Spain Connected Healthcare Device Market by Product, 2023-2033, $ mn 97
Table 25. Spain Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 97
Table 26. Spain Connected Healthcare Device Market by End User, 2023-2033, $ mn 97
Table 27. Italy Connected Healthcare Device Market by Product, 2023-2033, $ mn 99
Table 28. Italy Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 99
Table 29. Italy Connected Healthcare Device Market by End User, 2023-2033, $ mn 99
Table 30. Netherlands Connected Healthcare Device Market by Product, 2023-2033, $ mn 101
Table 31. Netherlands Connected Healthcare Device Market by Device Type, 2023-2033, $ mn 101
Table 32. Netherlands Connected Healthcare Device Market by End User, 2023-2033, $ mn 101
Table 33. Connected Healthcare Device Market in Rest of Europe by Country, 2023-2033, $ mn 103
Table 34. Abbott Laboratories: Company Snapshot 108
Table 35. Abbott Laboratories: Business Segmentation 109
Table 36. Abbott Laboratories: Product Portfolio 109
Figure 1. Research Method Flow Chart 11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 14
Figure 3. Europe Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2023-2033 16
Figure 4. Industry Value Chain Analysis 19
Figure 5. Europe Connected Healthcare Device Market, 2023-2033, $ mn 20
Figure 6. Impact of COVID-19 on Business 25
Figure 7. Primary Drivers and Impact Factors of Europe Connected Healthcare Device Market 30
Figure 8. The Benefits of Connected Medical Devices 33
Figure 9. World Industrial IoT Market, 2019-2030, $ mn 33
Figure 10. Primary Restraints and Impact Factors of Europe Connected Healthcare Device Market 34
Figure 11. Investment Opportunity Analysis 38
Figure 12. Porter’s Fiver Forces Analysis of Europe Connected Healthcare Device Market 41
Figure 13. Breakdown of Europe Connected Healthcare Device Market by Product, 2023-2033, % of Revenue 46
Figure 14. Europe Addressable Market Cap in 2024-2033 by Product, Value ($ mn) and Share (%) 46
Figure 15. Europe Connected Healthcare Device Market by Product: Medical Devices, 2023-2033, $ mn 47
Figure 16. Europe Connected Healthcare Device Market by Medical Devices: Blood Pressure Monitor, 2023-2033, $ mn 49
Figure 17. Europe Connected Healthcare Device Market by Medical Devices: Glucose Monitor, 2023-2033, $ mn 50
Figure 18. Europe Connected Healthcare Device Market by Medical Devices: Insulin Pump, 2023-2033, $ mn 51
Figure 19. Europe Connected Healthcare Device Market by Medical Devices: ECG Monitoring Device, 2023-2033, $ mn 52
Figure 20. Europe Connected Healthcare Device Market by Medical Devices: Pulse Oximeter, 2023-2033, $ mn 53
Figure 21. Europe Connected Healthcare Device Market by Medical Devices: Portable GPS PERS, 2023-2033, $ mn 54
Figure 22. Europe Connected Healthcare Device Market by Medical Devices: Smart Pill Dispenser, 2023-2033, $ mn 55
Figure 23. Europe Connected Healthcare Device Market by Medical Devices: Other Medical Devices, 2023-2033, $ mn 56
Figure 24. Europe Connected Healthcare Device Market by Product: Wellness Devices, 2023-2033, $ mn 57
Figure 25. Europe Connected Healthcare Device Market by Wellness Devices: Body Analyzer, 2023-2033, $ mn 59
Figure 26. Europe Connected Healthcare Device Market by Wellness Devices: Digital Pedometer, 2023-2033, $ mn 60
Figure 27. Europe Connected Healthcare Device Market by Wellness Devices: GPS Sports Watch, 2023-2033, $ mn 61
Figure 28. Europe Connected Healthcare Device Market by Wellness Devices: Heart Rate Monitor, 2023-2033, $ mn 62
Figure 29. Europe Connected Healthcare Device Market by Wellness Devices: Sleep Quality Monitor, 2023-2033, $ mn 63
Figure 30. Europe Connected Healthcare Device Market by Wellness Devices: Other Wellness Devices, 2023-2033, $ mn 64
Figure 31. Europe Connected Healthcare Device Market by Product: Software & Services, 2023-2033, $ mn 65
Figure 32. Europe Connected Healthcare Device Market by Software & Services: Fitness & Wellness App, 2023-2033, $ mn 66
Figure 33. Europe Connected Healthcare Device Market by Software & Services: Online Subscription, 2023-2033, $ mn 67
Figure 34. Europe Connected Healthcare Device Market by Product: Other Software & Services, 2023-2033, $ mn 68
Figure 35. Breakdown of Europe Connected Healthcare Device Market by Device Type, 2023-2033, % of Sales Revenue 70
Figure 36. Europe Addressable Market Cap in 2024-2033 by Device Type, Value ($ mn) and Share (%) 70
Figure 37. Europe Connected Healthcare Device Market by Device Type: Wearable Devices, 2023-2033, $ mn 71
Figure 38. Europe Connected Healthcare Device Market by Device Type: Implantable Devices, 2023-2033, $ mn 72
Figure 39. Europe Connected Healthcare Device Market by Device Type: Stationary Devices, 2023-2033, $ mn 73
Figure 40. Breakdown of Europe Connected Healthcare Device Market by Application, 2023-2033, % of Sales Revenue 75
Figure 41. Europe Addressable Market Cap in 2024-2033 by Application, Value ($ mn) and Share (%) 75
Figure 42. Europe Connected Healthcare Device Market by Application: Remote Monitoring, 2023-2033, $ mn 76
Figure 43. Europe Connected Healthcare Device Market by Application: Consultation and Diagnosis Services, 2023-2033, $ mn 77
Figure 44. Europe Connected Healthcare Device Market by Application: Treatment Services, 2023-2033, $ mn 78
Figure 45. Europe Connected Healthcare Device Market by Application: Fitness and Wellness Services, 2023-2033, $ mn 79
Figure 46. Breakdown of Europe Connected Healthcare Device Market by End User, 2023-2033, % of Revenue 81
Figure 47. Europe Addressable Market Cap in 2024-2033 by End User, Value ($ mn) and Share (%) 81
Figure 48. Europe Connected Healthcare Device Market by End User: Hospitals, 2023-2033, $ mn 82
Figure 49. Europe Connected Healthcare Device Market by End User: Specialty Clinics, 2023-2033, $ mn 83
Figure 50. Europe Connected Healthcare Device Market by End User: Ambulatory Surgical Centers (ASCs), 2023-2033, $ mn 84
Figure 51. Europe Connected Healthcare Device Market by End User: Home Care Settings, 2023-2033, $ mn 85
Figure 52. Europe Connected Healthcare Device Market by End User: Other End Users, 2023-2033, $ mn 86
Figure 53. Breakdown of European Connected Healthcare Device Market by Country, 2023 and 2033, % of Revenue 88
Figure 54. Contribution to Europe 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 89
Figure 55. Connected Healthcare Device Market in Germany, 2023-2033, $ mn 90
Figure 56. Connected Healthcare Device Market in U.K., 2023-2033, $ mn 92
Figure 57. Connected Healthcare Device Market in France, 2023-2033, $ mn 94
Figure 58. Connected Healthcare Device Market in Spain, 2023-2033, $ mn 96
Figure 59. Connected Healthcare Device Market in Italy, 2023-2033, $ mn 98
Figure 60. Connected Healthcare Device Market in Netherlands, 2023-2033, $ mn 100
Figure 61. Connected Healthcare Device Market in Rest of Europe, 2023-2033, $ mn 102
Figure 62. Growth Stage of Europe Connected Healthcare Device Industry over the Forecast Period 104
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