Report: Despite growth, connected device market is minority in Europe

By Aditi Pai
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Example of connected weight scale from Withings Withings connected weight scale

Mobile-connected blood pressure monitor sales grew by 42 percent across Great Britain, Germany, France, and the Netherlands from 2012 to 2013 and connected personal weighing scale sales rose by 88 percent, according to market research firm GfK.

GfK added that despite this growth, the connected device market in Europe is still a minority market.

Last year, connected device sales made up 5.5 percent of the total market of blood pressure monitors sold across these four European countries, but this total is up from 3.7 percent in 2012. Connected scales rose to 3.3 percent from 1.8 percent in 2012.

In France, home to connected device developer Withings, connected blood pressure monitors have a 17.4 percent market share. Connected scales have 6.3 percent market share in Germany and 12.1 percent market share in the Netherlands.

“Consumers are willing to pay around 100 euros more for a connected personal scale and 50 euros more for a connected blood pressure monitor, compared to the non-connected models," GfK global director Udo Jansen said in a statement. "With 2014 being the year of ‘mobile health’ as well as wearable technology devices, the popular media buzz around these topics is likely to have a positive effect on consumers’ awareness of the potential benefits on offer."

In March 2013, Kalorama released a report on remote patient monitoring in the US. In the report, Kalorama found the US market increased from $8.9 billion in 2011 to $10.6 billion in 2012, an increase of 19 percent. The year before, Kalorama predicted the market would grow by 18 percent annually, which would put the US market at $20.9 billion by 2016.

Just a month after Kalorama released its report, GBI Research released its own report, which found that by 2019 the remote patient monitoring market in the US will reach $296.5 million, up from $104.5 million in 2012. The firm said that the market will grow at a compound annual growth rate of 16 percent over the next few years.