Earlier today, the Consumer Electronics Association, or CEA, released the results of a survey centered on the future growth of connected healthcare and wellness devices. The report, titled “The Connected Health and Wellness Market,” was conducted by CEA and Parks Associates, a respected market research organization.
The key finding of this report is that the connected health and wellness market is slated to grow by 142% over the next five years, to $8 billion, with product sales, software and services making up most of the revenue. In fact, CEA expects that by 2018, 70 million units will be sold. CEA explained that this growth is being driven primarily the changing US healthcare system.
“Current healthcare reform is driving demand for innovative products and services that people can manage themselves,” said Gary Shapiro, President and CEO, CEA. “Consumer electronics companies are paying close attention to the rise of a young, dynamic market for connected health and wellness devices. As a result, these products allow healthcare providers to engage with their patients more effectively and help consumers better self-manage their own care needs.”
Following this line, the report showed that 29% of those with health problems will turn to their mobile devices for monitoring of their troubles, while 27% will use their mobile devices to access a personalized health and wellness plan.
