Market Overview:
The global wearable therapeutic 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 therapeutic devices. Based on type, the global wearable therapeutic devices market is segmented into pain management devices, rehabilitation devices, respiratory therapy devices, and insulin pumps. Pain managementdevices held the largest share of the global wearable therapeuticdevices market in 2017and are expected to continue its dominance duringthe forecast period. This can be attributedto factors such as increasing incidenceof chronic pain conditions and growing demand for non-invasive pain relief therapies.
Product Definition:
A wearable therapeutic device is a medical device that is worn on the body to deliver a treatment or therapy. These devices can be used to deliver medications, provide physical stimulation, or monitor vital signs. The use of wearable therapeutic devices can help to improve patient compliance and ensure that treatments are delivered effectively.
Pain Management Devices:
Pain management devices are the wearable therapeutic devices that are used for pain relief. They work by detecting and measuring electrical changes in the body to provide therapy as well as by using drugs or electrical stimulation to relieve pain. The major types of pain management include neurogenic, arthritis, cancer, low back and neck pain among others. Pain is classified into two types: acute (sudden) and chronic (long term).
Rehabilitation Devices:
Rehabilitation devices are used to restore body movement and enable the patient to perform daily activities independently. They help patients recover from a neurological, musculoskeletal or cardiovascular condition. The rehabilitation devices market is expected to witness significant growth over the forecast period owing to increasing prevalence of target diseases such as cerebral palsy, arthritis, spinal cord injury and other movement disorders.
Application Insights:
The others segment held the largest share of the global wearable therapeutic devices market in 2017. This is attributed to an increase in incidences of chronic diseases, especially diabetes, and rising geriatric population across the world. As per a study published by LSM Health, Inc., around 1 in 6 people aged between 65 to 74 years have at least one chronic disease and around 1 in 10 people above 75 years have at health issues including diabetes or cardiovascular diseases. Thus, increasing incidence of various chronic diseases is expected to drive demand for these devices over the forecast period.
Hospital was estimated as the largest application segment for wearable therapeutic devices on account of high usage rates and wide product portfolio across hospitals globally due to technological advancements coupled with growing awareness about better healthcare services among patients & their families regarding proper treatment procedures for various conditions such as heart attacks & stroke along with cost-effective treatments that require minimal medical intervention are some other factors contributing towards large share held by this segment globally.
Regional Analysis:
North America dominated the global wearable therapeutic devices market in 2017. The presence of favorable reimbursement policies, increasing R&D investments by industry players, and rising healthcare expenditure are some of the major factors contributing to its growth. In addition, growing awareness about various types of therapies available through wearable medical devices is expected to drive this regional market over the forecast period.
Asia Pacific region is anticipated to witness lucrative growth during the forecast period owing to increasing geriatric population base and rising incidences associated with chronic diseases such as diabetes and cardiac disorders among others that require long-term treatment with medication or surgery & rehabilitation therapy respectively. Moreover, improving healthcare infrastructure in emerging countries like China & India will boost product demand during the forecast period thereby driving regional market growth over the next eight years (2030).
Growth Factors:
- Increasing prevalence of chronic diseases: The global prevalence of chronic diseases is increasing at an alarming rate. This is primarily because of the changing lifestyles and dietary habits of people across the world. According to a study by the World Health Organization (WHO), chronic diseases are responsible for 63% of all deaths worldwide. This number is expected to increase to 73% by 2030. Thus, there is a growing need for effective treatment methods for chronic diseases, which can be addressed through wearable therapeutic devices.
- Rising awareness about the benefits of wearable therapeutic devices: There has been a significant rise in awareness about the benefits offered by wearable therapeutic devices in recent years. People are now realizing that these devices can help them manage their health conditions more effectively and improve their quality of life significantly. As a result, demand for wearable therapeutic devices is increasing rapidly across the world.
Scope Of The Report
Report Attributes
Report Details
Report Title
Wearable Therapeutic Devices Market Research Report
By Type
Pain Management Devices, Rehabilitation Devices, Respiratory Therapy Devices, Insulin Pumps
By Application
Home Healthcare, Hospital, Others
By Companies
Philips, Dragerwerk, Monica Healthcare, Medtronic, Johnson & Johnson, Roche, Tandem Diabetes Care, Microport, Insulet Corp, Philips
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
186
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Wearable Therapeutic Devices Market Report Segments:
The global Wearable Therapeutic Devices market is segmented on the basis of:
Types
Pain Management Devices, Rehabilitation Devices, Respiratory Therapy Devices, Insulin Pumps
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
Home Healthcare, Hospital, 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:
- Philips
- Dragerwerk
- Monica Healthcare
- Medtronic
- Johnson & Johnson
- Roche
- Tandem Diabetes Care
- Microport
- Insulet Corp
- Philips
Highlights of The Wearable Therapeutic 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:
- Pain Management Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
- Insulin Pumps
- By Application:
- Home Healthcare
- Hospital
- 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 Wearable Therapeutic 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.
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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 therapeutic devices are medical devices that are worn on the body. They can be used to treat a variety of conditions, including pain, anxiety, and depression.
Some of the major players in the wearable therapeutic devices market are Philips, Dragerwerk, Monica Healthcare, Medtronic, Johnson & Johnson, Roche, Tandem Diabetes Care, Microport, Insulet Corp, Philips.
The wearable therapeutic devices market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wearable Therapeutic 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 Therapeutic Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wearable Therapeutic 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 Therapeutic 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 Therapeutic Devices Market Size & Forecast, 2020-2028
4.5.1 Wearable Therapeutic Devices Market Size and Y-o-Y Growth
4.5.2 Wearable Therapeutic 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 Pain Management Devices
5.2.2 Rehabilitation Devices
5.2.3 Respiratory Therapy Devices
5.2.4 Insulin Pumps
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 Home Healthcare
6.2.2 Hospital
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wearable Therapeutic 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 Therapeutic 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 Pain Management Devices
9.6.2 Rehabilitation Devices
9.6.3 Respiratory Therapy Devices
9.6.4 Insulin Pumps
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 Home Healthcare
9.10.2 Hospital
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 Pain Management Devices
10.6.2 Rehabilitation Devices
10.6.3 Respiratory Therapy Devices
10.6.4 Insulin Pumps
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 Home Healthcare
10.10.2 Hospital
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 Pain Management Devices
11.6.2 Rehabilitation Devices
11.6.3 Respiratory Therapy Devices
11.6.4 Insulin Pumps
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 Home Healthcare
11.10.2 Hospital
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 Pain Management Devices
12.6.2 Rehabilitation Devices
12.6.3 Respiratory Therapy Devices
12.6.4 Insulin Pumps
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 Home Healthcare
12.10.2 Hospital
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 Pain Management Devices
13.6.2 Rehabilitation Devices
13.6.3 Respiratory Therapy Devices
13.6.4 Insulin Pumps
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 Home Healthcare
13.10.2 Hospital
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 Wearable Therapeutic Devices Market: Competitive Dashboard
14.2 Global Wearable Therapeutic Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Philips
14.3.2 Dragerwerk
14.3.3 Monica Healthcare
14.3.4 Medtronic
14.3.5 Johnson & Johnson
14.3.6 Roche
14.3.7 Tandem Diabetes Care
14.3.8 Microport
14.3.9 Insulet Corp
14.3.10 Philips
