Market Overview:
The global wearable healthcare 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 prevalence of chronic diseases, rising geriatric population, and technological advancements in wearable healthcare devices. Based on type, the global wearable healthcare devices market is segmented into wearable monitoring and diagnostic devices, hearing aid, insulin pump, respiratory therapy devices, sleep apnea devices, and other wearables. The hearing aid segment is expected to grow at the highest CAGR during the forecast period owing to increasing prevalence of hearing loss among geriatric population. Based on application, the global wearable healthcare device market is segmented into hospital pharmacies; clinics; home care settings; and other applications such as sports & fitness centers and long-term care facilities. The home care settings segment is projected to grow at a higher CAGR during the forecast period due to growing preference for home-based treatments over hospital-based treatments for chronic diseases.
Product Definition:
Wearable Healthcare Devices are devices that can be worn on the body to collect data about a person's health. This data can then be used to help the person stay healthy or to diagnose and treat an illness or injury.
Wearable Monitoring and Diagnostic Devices:
Wearable monitoring and diagnostic devices are portable, self-contained medical devices that provide continuous real-time information about the physiological state of a patient to the healthcare professional. They are used for early disease diagnosis and inpatient monitoring. The global wearable monitoring & diagnostic devices market is expected to witness significant growth over the forecast period owing to factors such as increasing prevalence of chronic diseases, rising demand for wireless data transfer technology along with growing awareness regarding its usage among patients.
Hearing Aid:
Hearing aid is a device used to amplify sounds and help people with hearing disabilities. It works on the principle of amplifying low-pitched sound waves and helps in improving speech understanding for people suffering from deafness.
Application Insights:
The hospital pharmacies segment dominated the market in 2017 and is expected to maintain its lead over the forecast period. This can be attributed to increasing demand for cost-effective healthcare services, growing geriatric population base, and rising number of hospital admissions. Moreover, favorable government policies related to reimbursement are further driving growth. For instance, according to a study published by IMS Health in 2018, it was found that around USD 25 billion were spent on pharmaceuticals dispensed through retail pharmacies in 2015 across the U.S., which is anticipated to increase by around 5% annually from 2016-2021. This windfall will provide ample opportunity for industry participants over the coming years as pharma companies continue investing heavily in R&D activities with an aim toward commercializing wearable devices that offer enhanced patient safety and convenience at affordable costs.
The clinics segment held a considerable share of market revenue in 2017 owing to factors such as increasing prevalence of chronic diseases such as diabetes mellitus type 2.
Regional Analysis:
North America dominated the global wearable healthcare devices market in 2017. The presence of favorable reimbursement policies, increasing geriatric population with chronic diseases, and rising awareness about early diagnosis of chronic conditions are some factors expected to drive the regional market over the forecast period. Europe is also anticipated to witness considerable growth during the forecast period due to growing geriatric population and prevalence of cardiovascular diseases (CVDs) and diabetes among others. Asia Pacific region is projected to grow at a lucrative rate owing to improving economic status, high unmet medical needs coupled with rapidly developing healthcare infrastructure especially in India & China.
Major players operating in this industry include Medtronic plc., Becton Dickinson & Company; Johnson & Johnson Services Inc.; Abbott Laboratories; Philips Healthcare; GE Healthcare; Koninklijke Philips N.
Growth Factors:
- Increasing demand for wearable healthcare devices from the geriatric population as a result of growing awareness about the benefits of using such devices.
- Rising prevalence of chronic diseases, which is expected to increase the demand for wearable healthcare devices in order to manage and monitor these conditions effectively.
- Proliferation of health-tracking apps and increasing number of collaborations between technology companies and healthcare providers to develop innovative wearable healthcare devices are expected to drive market growth over the forecast period.
- Growing popularity of fitness trackers among consumers owing to their ability to track various health parameters is anticipated to boost market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Wearable Healthcare Devices Market Research Report
By Type
Wearable Monitoring and Diagnostic Devices, Hearing Aid, Insulin Pump, Respiratory Therapy Devices, Sleep Apnea Devices, Other
By Application
Hospital Pharmacies, Clinics, Home
By Companies
Medtronic, Siemens, Fitbit, Bayer, Panasonic, Animas Corporation (Johnson and Johnson), Smiths Medical (Smiths Group), Koninklijke Philips, Owlet Baby Care, OMRON, Medtronic, Rest Devices
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
142
Number of Tables & Figures
100
Customization Available
Yes, the report can be customized as per your need.
Global Wearable Healthcare Devices Market Report Segments:
The global Wearable Healthcare Devices market is segmented on the basis of:
Types
Wearable Monitoring and Diagnostic Devices, Hearing Aid, Insulin Pump, Respiratory Therapy Devices, Sleep Apnea Devices, Other
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
Hospital Pharmacies, Clinics, Home
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:
- Medtronic
- Siemens
- Fitbit
- Bayer
- Panasonic
- Animas Corporation (Johnson and Johnson)
- Smiths Medical (Smiths Group)
- Koninklijke Philips
- Owlet Baby Care
- OMRON
- Medtronic
- Rest Devices
Highlights of The Wearable Healthcare 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:
- Wearable Monitoring and Diagnostic Devices
- Hearing Aid
- Insulin Pump
- Respiratory Therapy Devices
- Sleep Apnea Devices
- Other
- By Application:
- Hospital Pharmacies
- Clinics
- Home
- 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 Wearable Healthcare 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
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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?
Wearable healthcare devices are medical devices that are worn on the body. They can include sensors, monitors, and other equipment to help patients monitor their health or provide treatment.
Some of the major companies in the wearable healthcare devices market are Medtronic, Siemens, Fitbit, Bayer, Panasonic, Animas Corporation (Johnson and Johnson), Smiths Medical (Smiths Group), Koninklijke Philips, Owlet Baby Care, OMRON, Medtronic, Rest Devices.
The wearable healthcare 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 Wearable Healthcare 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 Wearable Healthcare Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wearable Healthcare 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 Wearable Healthcare 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 Wearable Healthcare Devices Market Size & Forecast, 2020-2028
4.5.1 Wearable Healthcare Devices Market Size and Y-o-Y Growth
4.5.2 Wearable Healthcare 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 Wearable Monitoring and Diagnostic Devices
5.2.2 Hearing Aid
5.2.3 Insulin Pump
5.2.4 Respiratory Therapy Devices
5.2.5 Sleep Apnea Devices
5.2.6 Other
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 Hospital Pharmacies
6.2.2 Clinics
6.2.3 Home
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wearable Healthcare 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 Wearable Healthcare 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 Wearable Monitoring and Diagnostic Devices
9.6.2 Hearing Aid
9.6.3 Insulin Pump
9.6.4 Respiratory Therapy Devices
9.6.5 Sleep Apnea Devices
9.6.6 Other
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 Hospital Pharmacies
9.10.2 Clinics
9.10.3 Home
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 Wearable Monitoring and Diagnostic Devices
10.6.2 Hearing Aid
10.6.3 Insulin Pump
10.6.4 Respiratory Therapy Devices
10.6.5 Sleep Apnea Devices
10.6.6 Other
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 Hospital Pharmacies
10.10.2 Clinics
10.10.3 Home
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 Wearable Monitoring and Diagnostic Devices
11.6.2 Hearing Aid
11.6.3 Insulin Pump
11.6.4 Respiratory Therapy Devices
11.6.5 Sleep Apnea Devices
11.6.6 Other
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 Hospital Pharmacies
11.10.2 Clinics
11.10.3 Home
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 Wearable Monitoring and Diagnostic Devices
12.6.2 Hearing Aid
12.6.3 Insulin Pump
12.6.4 Respiratory Therapy Devices
12.6.5 Sleep Apnea Devices
12.6.6 Other
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 Hospital Pharmacies
12.10.2 Clinics
12.10.3 Home
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 Wearable Monitoring and Diagnostic Devices
13.6.2 Hearing Aid
13.6.3 Insulin Pump
13.6.4 Respiratory Therapy Devices
13.6.5 Sleep Apnea Devices
13.6.6 Other
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 Hospital Pharmacies
13.10.2 Clinics
13.10.3 Home
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 Wearable Healthcare Devices Market: Competitive Dashboard
14.2 Global Wearable Healthcare Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Medtronic
14.3.2 Siemens
14.3.3 Fitbit
14.3.4 Bayer
14.3.5 Panasonic
14.3.6 Animas Corporation (Johnson and Johnson)
14.3.7 Smiths Medical (Smiths Group)
14.3.8 Koninklijke Philips
14.3.9 Owlet Baby Care
14.3.10 OMRON
14.3.11 Medtronic
14.3.12 Rest Devices
