Market Overview:
The global wearable medical 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 medical devices. Based on type, the global wearable medical devices market is segmented into pharmacies, online channel, and hypermarkets. The pharmacies segment is expected to account for the largest share of the global wearable medical devices market in 2018. This can be attributed to factors such as growing awareness about health and fitness among consumers and increasing demand for prescription-based wearables from patients suffering from chronic diseases. Based on application, the global wearable medical devices market is segmented into sports and fitness, remote patient monitoring (RPM), and home healthcare. The sports and fitness segment accounted for the largest share of the global wearable medical devices market in 2017 owing to an increase in adoption of wearables by athletes for performance tracking purposes as well as by general consumers for tracking their daily physical activity levels.
Product Definition:
A wearable medical device is a device that can be worn by a patient to monitor and track health information. This type of device can include heart rate monitors, pedometers, and blood pressure monitors. The purpose of wearable medical devices is to allow patients to track their own health information and provide feedback to their doctor. This allows the doctor to better assess the patient's condition and make necessary adjustments.
Pharmacies:
Pharmacies are places where drugs and medicines are made available for purchase by healthcare professionals and consumers. They can be either stand-alone or attached with a hospital or clinic. Pharmacies function both as a source for purchasing drugs as well as a drug store, providing medical advice to the patients, along with some diagnostic services. Increasing demand for specialty medications is expected to drive the pharmacies market over the forecast period.
Online Channel:
The online channel is a platform that enables two-way communication between the medical device and the patient. It can be used by manufacturers as well as consumers. The online channels are gaining popularity due to its cost effectiveness, ease of use, and flexibility in delivering customized solutions for healthcare applications.
Increasing demand for wearable medical devices coupled with rising penetration of internet & smartphones is expected to drive market growth over the forecast period.
Application Insights:
The sports and fitness application segment led the global wearable medical devices market in 2017. This is attributed to rising number of gym-goers and participation in sports & physical activities. Moreover, increasing demand for wearable devices that can track heart rate, blood oxygen saturation, calories burnt etc., is expected to drive the segment growth over the forecast period.
Remote patient monitoring or home healthcare are other major applications of these devices. Rising geriatric population across the world who need assistance with daily activities is expected to be a key factor driving their demand over the forecast period. Furthermore, growing awareness about remote monitoring for diabetes due to technological advancements and innovations in device designs will further boost their adoption rate among patients suffering from diabetes mellitus throughout 2018-2030 ¢â‚¬â„¢s end stage.
Regional Analysis:
North America dominated the global wearables medical devices market in 2017. The presence of well-established healthcare infrastructure, high adoption rate of advanced technologies, and increasing demand for home healthcare are some factors driving the regional growth. In addition, growing awareness about remote patient monitoring and pharmacies is expected to fuel the market growth over the forecast period.
Asia Pacific is anticipated to witness lucrative CAGR during the forecast period owing to rising geriatric population base that requires constant monitoring and growing health awareness among people living in rural as well as urban areas due to rapid urbanization. Moreover, improving public health infrastructure coupled with a large target population base will drive regional growth over next eight years (2030).
Growth Factors:
- Increasing demand for wearable medical devices from geriatric population due to increasing prevalence of chronic diseases.
- Growing demand for minimally invasive surgeries which is expected to boost the adoption of wearable medical devices.
- Rising awareness about the benefits of using wearable medical devices among healthcare professionals and patients alike.
- Technological advancements in the field of miniaturization and wireless communication that would enable more widespread adoption of wearable medical devices across various applications segments .
Scope Of The Report
Report Attributes
Report Details
Report Title
Wearable Medical Devices Market Research Report
By Type
Pharmacies, Online Channel, Hypermarkets
By Application
Sports and Fitness, Remote Patient Monitoring, Home Healthcare
By Companies
Fitbit, Philips, Garmin, Omron, Drägerwerk, Nokia Technologies, Jawbone, Polar Electro, World Global Network [Wor(I)D], Activeinsights, Vitalconnect, Xiaomi, Misfit, Monica Healthcare
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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Wearable Medical Devices Market Report Segments:
The global Wearable Medical Devices market is segmented on the basis of:
Types
Pharmacies, Online Channel, Hypermarkets
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
Sports and Fitness, Remote Patient Monitoring, Home Healthcare
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:
- Fitbit
- Philips
- Garmin
- Omron
- Drägerwerk
- Nokia Technologies
- Jawbone
- Polar Electro
- World Global Network [Wor(I)D]
- Activeinsights
- Vitalconnect
- Xiaomi
- Misfit
- Monica Healthcare
Highlights of The Wearable Medical 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:
- Pharmacies
- Online Channel
- Hypermarkets
- By Application:
- Sports and Fitness
- Remote Patient Monitoring
- Home Healthcare
- 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 Medical 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 medical devices are electronic or mechanical devices that are worn on the body, such as a watch, bracelet, or eyeglasses. They can be used to monitor vital signs (heart rate, blood pressure), track physical activity and sleep patterns, and provide other health information.
Some of the major companies in the wearable medical devices market are Fitbit, Philips, Garmin, Omron, DrƒÂ¤gerwerk, Nokia Technologies, Jawbone, Polar Electro, World Global Network [Wor(I)D], Activeinsights, Vitalconnect, Xiaomi, Misfit, Monica Healthcare.
The wearable medical devices market is expected to register a CAGR of 10.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wearable Medical Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Wearable Medical Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Wearable Medical Devices Market - Supply Chain
4.5. Global Wearable Medical Devices Market Forecast
4.5.1. Wearable Medical Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wearable Medical Devices Market Size (000 Units) and Y-o-Y Growth
4.5.3. Wearable Medical Devices Market Absolute $ Opportunity
5. Global Wearable Medical Devices Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Wearable Medical Devices Market Size and Volume Forecast by Type
5.3.1. Pharmacies
5.3.2. Online Channel
5.3.3. Hypermarkets
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Wearable Medical Devices Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Wearable Medical Devices Market Size and Volume Forecast by Application
6.3.1. Sports and Fitness
6.3.2. Remote Patient Monitoring
6.3.3. Home Healthcare
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Wearable Medical Devices Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Wearable Medical Devices Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Wearable Medical Devices Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Wearable Medical Devices Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Wearable Medical Devices Demand Share Forecast, 2019-2026
9. North America Wearable Medical Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Wearable Medical Devices Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Wearable Medical Devices Market Size and Volume Forecast by Application
9.4.1. Sports and Fitness
9.4.2. Remote Patient Monitoring
9.4.3. Home Healthcare
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Wearable Medical Devices Market Size and Volume Forecast by Type
9.7.1. Pharmacies
9.7.2. Online Channel
9.7.3. Hypermarkets
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Wearable Medical Devices Demand Share Forecast, 2019-2026
10. Latin America Wearable Medical Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Wearable Medical Devices Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Wearable Medical Devices Market Size and Volume Forecast by Application
10.4.1. Sports and Fitness
10.4.2. Remote Patient Monitoring
10.4.3. Home Healthcare
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Wearable Medical Devices Market Size and Volume Forecast by Type
10.7.1. Pharmacies
10.7.2. Online Channel
10.7.3. Hypermarkets
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Wearable Medical Devices Demand Share Forecast, 2019-2026
11. Europe Wearable Medical Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Wearable Medical Devices Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Wearable Medical Devices Market Size and Volume Forecast by Application
11.4.1. Sports and Fitness
11.4.2. Remote Patient Monitoring
11.4.3. Home Healthcare
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Wearable Medical Devices Market Size and Volume Forecast by Type
11.7.1. Pharmacies
11.7.2. Online Channel
11.7.3. Hypermarkets
11.8. Basis Point Shae (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Wearable Medical Devices Demand Share, 2019-2026
12. Asia Pacific Wearable Medical Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Wearable Medical Devices Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Wearable Medical Devices Market Size and Volume Forecast by Application
12.4.1. Sports and Fitness
12.4.2. Remote Patient Monitoring
12.4.3. Home Healthcare
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Wearable Medical Devices Market Size and Volume Forecast by Type
12.7.1. Pharmacies
12.7.2. Online Channel
12.7.3. Hypermarkets
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Wearable Medical Devices Demand Share, 2019-2026
13. Middle East & Africa Wearable Medical Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Wearable Medical Devices Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Wearable Medical Devices Market Size and Volume Forecast by Application
13.4.1. Sports and Fitness
13.4.2. Remote Patient Monitoring
13.4.3. Home Healthcare
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Wearable Medical Devices Market Size and Volume Forecast by Type
13.7.1. Pharmacies
13.7.2. Online Channel
13.7.3. Hypermarkets
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Wearable Medical Devices Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Wearable Medical Devices Market: Market Share Analysis
14.2. Wearable Medical Devices Distributors and Customers
14.3. Wearable Medical Devices Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Fitbit
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Philips
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Garmin
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Omron
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Drägerwerk
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Nokia Technologies
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Jawbone
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Polar Electro
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. World Global Network [Wor(I)D]
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Activeinsights
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Vitalconnect
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Xiaomi
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Misfit
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Monica Healthcare
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
