Market Overview:
The global health and wellness devices market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for health and wellness devices from hospitals, personalized health monitoring devices, and others applications. Additionally, the growing awareness about the benefits of using these devices is also contributing to the growth of this market. The healthcare IT segment is expected to hold the largest share of this market in 2018 owing to its ability to improve patient care by reducing medical errors and improving communication among healthcare professionals.
Product Definition:
A health and wellness device is any type of equipment or technology that is used to improve or maintain a person's health and well-being. These devices can include anything from fitness trackers to heart rate monitors to sleep tracking devices. The importance of using these devices can vary depending on the individual, but for many people, they can be a helpful way to keep track of their physical activity, nutrition, sleep habits, and more.
Healthcare IT:
Healthcare IT is the part of IT that pertains to health information management, electronic health records (EHR), telehealth/telemedicine, and other healthcare-related technologies. Healthcare IT market includes products such as EHRs, wearable devices & accessories, mobile applications for healthcare providers & patients and various other software solutions.
Health Information Exchange:
Health Information Exchange (HIE) is an electronic system that enables the sharing of health information between providers and payers. It helps in improving quality, decreasing costs, and increasing efficiency.
Application Insights:
The others segment held the largest share of the global health and wellness devices market in 2017. This is attributed to an increase in demand for products such as fitness monitors, blood pressure cuffs, pulse oximeters, asthma inhalers and glucometers among others. The personalized health monitoring devices segment is expected to witness lucrative growth over the forecast period due to a rise in demand for products that help patients manage chronic diseases such as diabetes and high cholesterol levels. For instance, according to a study published by National Center for Biotechnology Information (NCBI) in 2015 stated that out of all people aged 60 years or above around 24% are suffering from some form of chronic disease which increases risk of death by 1%. Similarly 23% out of all deaths occur amongst people between 0-59 years age group globally which amounts to around 9 million every year. Thus increasing the risk factor population susceptible towards various diseases will boost product adoption further driving industry growth during this period.
Regional Analysis:
North America dominated the global market in 2017. The presence of favorable government policies, increasing investments by private companies and rising awareness among people about early diagnosis of chronic diseases are some factors driving the regional market growth. For instance, in 2014, according to a study published by Global Health IT Policy (GHIPT), over USD X billion were invested in health information technology (IT) infrastructure projects across U.S., which is expected to grow at an exponential rate over the next decade with a CAGR exceeding 10% per year from 2018 to 2025.
Asia Pacific is expected to be one of the fastest-growing regions during the forecast period owing to various initiatives taken up by governments for implementation of eHealth and electronic medical records systems across countries such as China and India for curbing healthcare expenditure while improving patient care at lower costs through better outcomes resulting from improved efficiency & effectiveness.
Growth Factors:
- Increasing awareness about health and wellness: There is a growing awareness among people about the importance of leading a healthy lifestyle. This has led to an increase in the demand for health and wellness devices.
- Rising incidence of lifestyle diseases: The incidence of lifestyle diseases such as obesity, diabetes, and heart disease is on the rise globally. This has led to an increased demand for health and wellness devices that can help people manage these conditions.
- Technological advancements: Health and wellness device manufacturers are constantly innovating their products to make them more effective and user-friendly. This has resulted in a surge in the demand for such devices.
- Growing popularity of preventive healthcare: There is a growing trend among people towards preventive healthcare, which is driving the demand for health and wellness devices. These devices allow people to track their vital signs and take steps to improve their overall well-being proactively . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Health and Wellness Devices Market Research Report
By Type
Healthcare IT, Health Information Exchange, Healthcare Analytics
By Application
Hospitals, Personalized Health Monitoring Devices, Others
By Companies
Omron Healthcare, McKesson, Philips Healthcare, GE Healthcare, Draeger Medical Systems, Fitbit, Abbott, Medtronic, Aerotel Medical Systems, Boston Scientific, Omron Healthcare, Garmin, Microlife, Masimo, AgaMatrix
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
127
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Health and Wellness Devices Market Report Segments:
The global Health and Wellness Devices market is segmented on the basis of:
Types
Healthcare IT, Health Information Exchange, Healthcare Analytics
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Personalized Health Monitoring Devices, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Omron Healthcare
- McKesson
- Philips Healthcare
- GE Healthcare
- Draeger Medical Systems
- Fitbit
- Abbott
- Medtronic
- Aerotel Medical Systems
- Boston Scientific
- Omron Healthcare
- Garmin
- Microlife
- Masimo
- AgaMatrix
Highlights of The Health and Wellness Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Healthcare IT
- Health Information Exchange
- Healthcare Analytics
- By Application:
- Hospitals
- Personalized Health Monitoring Devices
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Health and Wellness Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Health and wellness devices are electronic or mechanical devices that help people maintain their health and well-being. They can include items such as heart monitors, pedometers, sleep trackers, and weight scales.
Some of the major players in the health and wellness devices market are Omron Healthcare, McKesson, Philips Healthcare, GE Healthcare, Draeger Medical Systems, Fitbit, Abbott, Medtronic, Aerotel Medical Systems, Boston Scientific, Omron Healthcare, Garmin, Microlife, Masimo, AgaMatrix.
The health and wellness devices market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Health and Wellness Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Health and Wellness Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Health and Wellness Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Health and Wellness Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Health and Wellness Devices Market Size & Forecast, 2020-2028
4.5.1 Health and Wellness Devices Market Size and Y-o-Y Growth
4.5.2 Health and Wellness Devices Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Healthcare IT
5.2.2 Health Information Exchange
5.2.3 Healthcare Analytics
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Personalized Health Monitoring Devices
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Health and Wellness Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Health and Wellness Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Healthcare IT
9.6.2 Health Information Exchange
9.6.3 Healthcare Analytics
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Personalized Health Monitoring Devices
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Healthcare IT
10.6.2 Health Information Exchange
10.6.3 Healthcare Analytics
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Personalized Health Monitoring Devices
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Healthcare IT
11.6.2 Health Information Exchange
11.6.3 Healthcare Analytics
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Personalized Health Monitoring Devices
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Healthcare IT
12.6.2 Health Information Exchange
12.6.3 Healthcare Analytics
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Personalized Health Monitoring Devices
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Healthcare IT
13.6.2 Health Information Exchange
13.6.3 Healthcare Analytics
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Personalized Health Monitoring Devices
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Health and Wellness Devices Market: Competitive Dashboard
14.2 Global Health and Wellness Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Omron Healthcare
14.3.2 McKesson
14.3.3 Philips Healthcare
14.3.4 GE Healthcare
14.3.5 Draeger Medical Systems
14.3.6 Fitbit
14.3.7 Abbott
14.3.8 Medtronic
14.3.9 Aerotel Medical Systems
14.3.10 Boston Scientific
14.3.11 Omron Healthcare
14.3.12 Garmin
14.3.13 Microlife
14.3.14 Masimo
14.3.15 AgaMatrix
