Wearable Medical Devices Market based on Product (Diagnostic Devices and Therapeutic Devices), Site (Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, and Others), Application (Sports & Fitness, Remote Patient Monitoring, and Home Healthcare) and Geography – Global Forecast up to 2027

  • July, 2021
  • Domain: Healthcare - Medical Devices
Pages: 83
Tables: 64
Charts: 94
Regions/Countries: 4/10
Companies: 10
Enquiry Hours: 10
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Wearable medical devices are regularly observing devices that can remotely track a patient’s health condition. Wearable medical devices are available for monitoring various conditions, such as sleep monitoring devices, fetal monitoring devices, and many other devices. For example, sleep monitoring devices have to be worn all night to allow the device to record the oxygen consumption and the sleep lapse time. The same data is forwarded to the physician for analysis and treatment if required. The rising customer preference and awareness about fitness wearables will support the market growth, particularly among the youth. In addition, the increasing obese population, leading to higher adoption of physical activities, will increase the demand for wearable medical devices including Fitbit and smartwatches in the coming years. Other factors, including the increasing geriatric population and increasing spending capacities of consumers on health management technologies, are further anticipated to compel the market. On the other hand, threats such as data hacking and theft that hampers personal data security will be obstacles for wearable medical devices industry growth. The Wearable Medical Devices Market is likely to grow at the rate of 26.7% CAGR by 2027.

Research Methodology:

The Wearable medical devices market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology and a unique balance of primary insights. The real-time valuation of the market is an integral part of our forecasting and market sizing methodology. Industry experts and our primary participants have helped to compile related aspects with accurate parametric estimations for a complete study. The primary participants share is given below:

Wearable Medical Devices Market

Wearable Medical Devices Market based on Product

  • Diagnostic Devices
  • Therapeutic Devices

Wearable Medical Devices Market based on Site

  • Handheld
  • Headband
  • Strap/Clip/Bracelet
  • Shoe Sensors
  • Others

Wearable Medical Devices Market based on Application

  • Sports & Fitness
  • Remote Patient Monitoring
  • Home Healthcare

Wearable Medical Devices Market based on Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Based on product, the diagnostic devices segment has the major share in the market. This is due to the rising prevalence of neurological disorders, which is the key factor impacting the segment's growth. In addition, rising awareness of the population about the capability of neurological wearables to evaluate the cognitive capabilities of individuals constantly during everyday activities is also projected to drive the segment.

As in the segmentation of site, the strap/clip/bracelet segment has held the dominant share in the wearable medical devices market. Products such as smartwatches facilitate monitoring of various parameters, including respiratory rate, mobility, pulse rate, and Bluetooth and cloud connectivity, which are projected to accelerate this segment's growth over the forecast period.

As per the application of wearable medical devices, the home healthcare segment has obtained a substantial share in the wearable medical devices market. The substantial share of the segment is attributed to the rising elderly population leveraging prevalence rates of target diseases. In addition, the increasing requirement to reduce healthcare expenditure as an economically feasible initiative is one of the few factors responsible for market growth.

North America has registered the highest market share in the wearable medical devices market based on geography. This is ascribed to the rising incidence of cardiovascular disorders, diabetes, and cancer in this region. In addition, the increase in chronic diseases which require regular monitoring and the presence of sophisticated healthcare infrastructure are further happening to drive market growth over the forecast period.

The wearable medical devices market size is likely to witness prominent growth in the coming years, considering the rising incidence of inactive lifestyles and the resultant increase in lifestyle disorders, such as hypertension and diabetes. These ailments commonly require constant tracking and monitoring physiological parameters such as blood pressure and blood sugar levels. This factor promotes the integration of healthcare data with medical devices, where the physicians can access real-time with minimum scope of errors.

The major vendors of the wearable medical devices market include Vital Connect Inc, Honeywell International Inc., Fitbit Inc. (Google LLC), Koninklijke Philips N.V., Apple Inc., Dexcom Inc., Garmin Ltd., Medtronic Plc, Abbott Laboratories, and Omron Corporation.

As a result, wearable medical devices play a prominent role in healthcare by yielding important patient data for better services by healthcare providers. For example, wearables compute data from daily activities, which can be used by physicians to improve diagnosis or treatment.

  • This wearable medical devices market report depicts the geographical regions and sub-segment projected to have rapid growth and have a major share.
  • This report provides the compelling factors and restricting the market growth and providing pitfalls and opportunities for the market.
  • This report includes the information of the market-leading vendors and their position in the market.
  • This report also consists of constant market developments and innovations taking place in the wearable medical devices market.
  1. Executive Summary
  2. Industry Outlook
    1. Industry Overview
    2. Industry Trends
  3. Market Snapshot
    1. Market Definition
    2. Market Outlook
      1. Porter Five Forces
    3. Related Markets
  4. Market characteristics
    1. Market Overview
    2. Market Segmentation
    3. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    4. DRO - Impact Analysis
  5. Product: Market Size & Analysis
    1. Overview
    2. Diagnostic Devices
    3. Therapeutic Devices
  6. Site: Market Size & Analysis
    1. Overview
    2. Handheld
    3. Headband
    4. Strap/Clip/Bracelet
    5. Shoe Sensors
    6. Others
  7. Application: Market Size & Analysis
    1. Overview
    2. Sports & Fitness
    3. Remote Patient Monitoring
    4. Home Healthcare
  8. Geography: Market Size & Analysis
    1. Overview
    2. North America
    3. Europe
    4. Asia Pacific
    5. Rest of the World
  9. Competitive Landscape
    1. Competitor Comparison Analysis
    2. Market Developments
      1. Mergers and Acquisitions, Legal, Awards, Partnerships
      2. Product Launches and execution
  10. Vendor Profiles
    1. Vital Connect Inc
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    2. Honeywell International Inc.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    3. Fitbit Inc. (Google LLC)
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    4. Koninklijke Philips N.V.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    5. Apple Inc.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    6. Dexcom Inc.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    7. Garmin Ltd.
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    8. Medtronic Plc
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    9. Abbott Laboratories
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
    10. Omron Corporation
      1. Overview
      2. Financial Overview
      3. Product Offerings
      4. Developments
      5. Business Strategy
  11. Analyst Opinion
  12. Annexure
    1. Report Scope
    2. Market Definitions
    3. Research Methodology
      1. Data Collation and In-house Estimation
      2. Market Triangulation
      3. Forecasting
    4. Report Assumptions
    5. Declarations
    6. Stakeholders
    7. Abbreviations

Research Framework

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

Market related information is congregated from both primary and secondary sources.

Primary sources

involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources

include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

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