Wireless Health Market

Global Wireless Health Market Size (2024 to 2029)

The global wireless health market size is projected to be worth USD 377.1 billion in 2029 from USD 132.82 billion in 2024, with a remarkable CAGR of 23.21% between 2024 to 2029.

MARKET DRIVERS

The rapid adoption of wireless communication technologies in healthcare delivery is majorly propelling the global wireless health market growth.

The growing progress of wireless communication technologies, the rising penetration of the Internet, the growing use of connected devices for chronic disease management, a patient-centered approach by healthcare providers, an active penetration of 3G and 4G networks in healthcare, and the integration of cloud computing are promoting the global wireless health market growth. Additionally, the demand for portable fitness equipment is increasing worldwide due to the availability of state-of-the-art products and their use for health monitoring. They are used to track all types of physical movements as they are increasingly used to improve physical performance, which is estimated to support the growth of the wireless health market.

The emergence of wearable devices, such as smartwatches, which control sleep patterns, blood sugar levels, heart rate, etc., has revolutionized the management of people's health. This type of portable device and its presence in the market drive the wireless health market. Due to the ease of access and the output's accuracy, people are attracted by these technologies. The low cost associated with such devices is also responsible for their appearance in developing regions.

MARKET RESTRAINTS

However, wireless healthcare systems are relatively more expensive than traditional medical solutions, which cannot be affordable by healthcare providers in under-developed countries, which is considered a significant restraint factor for market growth. Another factor, such as network issues in rural areas in underdeveloped countries, diminishes the market growth. Moreover, matters about cybersecurity and privacy concerns impede the market growth. The high volume of data is generated through hospital providers, which requires data security; there may be a chance of breaching.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Wireless Health Market Analysis By Technology

The WPAN segment represented the largest share of the wireless health market in 2023. WPAN technologies are highly secure and affordable, making them one of the most widely adopted wireless health technologies. The WPAN technology segment is also segmented into Bluetooth, RFID, Ant +, Zigbee, Z-Wave, and UWB.

Global Wireless Health Market Analysis By Component

The software segment accounted for the majority of the global market share in 2023 and is anticipated to register a healthy CAGR during the forecast period owing to the increasing adoption of IT solutions for the healthcare industry and the growing need to update existing software.

Global Wireless Health Market Analysis By Application

The patient-specific segment held the largest share of the global market in 2023 and is predicted to witness a healthy CAGR during the forecast period due to the growing adoption of wireless devices and the increasing need for quality care.

REGIONAL ANALYSIS

The global wireless health market is expected to be dominated by North America, followed by Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific region is expected to experience the highest growth during the forecast period.

The market is expected to grow fastest in the Asia-Pacific region in the coming years. Growth in the Asia-Pacific region can be attributed to factors such as population growth, increasing internet penetration, growing medical tourism, growing government initiatives for e-health, and growing demand for healthcare and medical quality.

KEY PLAYERS IN THE GLOBAL WIRELESS HEALTH MARKET

Noteworthy companies leading the global wireless health market profiled in this report are Healthcare Solutions, Inc. (United States), AT & T, Inc. (United States), Cerner Corporation (United States), Omron Corporation (United States), Philips Healthcare (United States), Verizon Communications, Inc. (United States), Qualcomm, Inc. (United States), Aerohive Networks, Inc. (United States), Vocera Communications, Inc. (United States) and Alcatel-Lucent (United States).

RECENT HAPPENINGS IN THE MARKET

• In January 2018, GE Healthcare established a long-term strategic partnership with Roche to develop and commercialize digital clinical decision support solutions jointly.
• In March 2018, GE Healthcare launched a new visual analytics solution based on Microsoft Power BI. As a result, data collected from wireless devices can be analyzed and better used to help patients.
• In March 2018, Nihon Kohden launched the NK-HIQ wireless patient monitoring system. This system provides a secure platform for data acquisition and management using Wi-Fi technology to enable patients and security monitoring in the hospital environment.
• At the University of Illinois at Urbana-Champaign and Northwestern University, engineers showed adhesive patches that can be used daily to monitor the patient's ECG. Besides, the patient's record is easily accessible via a mobile phone or wireless computer.

DETAILED SEGMENTATION OF THE GLOBAL WIRELESS HEALTH MARKET INCLUDED IN THIS REPORT

This market research report on the global wireless health market has been segmented and sub-segmented based on technology, component, application, and region.

By Technology

• WPAN
• WLAN/Wi-fi
• WiMAX

By Component

• Hardware
• Software
• Services

By Application

• Patient-Specific    
• Specific Provider
• Payer applications

By End Users

• Providers
• Payers
• Patients

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa