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Wireless Health and Fitness Devices - Global Market Trajectory & Analytics

  • ID: 2769237
  • Report
  • May 2021
  • Region: Global
  • 401 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • adidas AG
  • Entra Health Systems LLC
  • iHealth Labs, Inc.
  • Misfit, Inc.
  • Nonin Medical, Inc.
  • Suunto Oy
  • MORE

Global Wireless Health and Fitness Devices Market to Reach 573.7 Million Units by 2026


In times of COVID-19, significant focus is being shed on health and fitness. Exercise is one of the indispensable components of the holistic approach to healthy and quality living. Physical activity combined with a well-balanced diet is a perfect recipe for stimulating and strengthening the immune system that safeguards the host from diseases and infections. The pandemic is profoundly influencing the everyday life of consumers around the world. Social, financial, physical, emotional and environmental issues are topping the priority list for consumers. Given that stress can weaken the immune system and compromise overall health and well-being, consumers are beginning to spend additional time, money, and resources on lifestyle changes, fitness routines, and food habits to deal with the pandemic. Amid the COVID-19 crisis, the global market for Wireless Health and Fitness Devices estimated at 280 Million Units in the year 2020, is projected to reach a revised size of 573.7 Million Units by 2026, growing at a CAGR of 12.1% over the analysis period. Sports & Fitness, one of the segments analyzed in the report, is projected to record a 11.2% CAGR and reach 361.4 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Remote Health Monitoring segment is readjusted to a revised 12.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at 136.4 Million Units in 2021, While China is Forecast to Reach 59.9 Million Units by 2026


The Wireless Health and Fitness Devices market in the U.S. is estimated at 136.4 Million Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 59.9 Million Units by the year 2026 trailing a CAGR of 14.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.8% and 11.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.2% CAGR.

Health monitors are appearing in all shapes and sizes, ranging from wearables such as wrist bands to smart watches as well as their integration with mobile phones. Moreover, the capabilities of the devices and apps are increasing with new technological advances, making them more accurate and evolve into complete healthcare solutions. Fitness wearables are among the most prevalent technology aids that are helping users to keep track of various aspects of their lifestyles and fitness regimens. Consumers are increasingly opting for wearable wireless sports, fitness and wellness devices with the intention of keeping themselves healthy and safe. With growing health awareness, focus on leading active lifestyle, alarming rise in obesity & related problems, and rising health risks of a sedentary lifestyle, there has been a growing emphasis on staying healthy and fit. Increasing spending power in developing countries, large-scale modernization, and highly advanced and cost-effective wireless healthcare technologies are thus fuelling growth in the market. As a result, sports, activity, and fitness monitoring technologies are emerging as promising segment of the overall consumer electronics market. Driven by the Quantified Self trend, wearable devices for sports and fitness continue to gain the attention of consumers and enthusiasts alike as wearable fitness devices help users in collecting and measuring data based on the user`s physical condition and performance. Wearers are increasingly using these devices for tracking their weight, step count, heart rate, calories burned, balance, breathing rate, explosive strength and the condition of their vital organs, as well as also for setting personal goals. Consumers are increasingly adopting fitness devices as they encourage users in realizing their personal goals including getting a proper amount of sleep and maintaining healthy weight.

Professional Healthcare Segment to Reach 68.3 Million Units by 2026


In the global Professional Healthcare segment, USA, Canada, Japan, China and Europe will drive the 15.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of 23.6 Million Units in the year 2020 will reach a projected size of 65.4 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 5.1 Million Units by the year 2026, while Latin America will expand at a 16.5% CAGR through the analysis period.

Select Competitors (Total 118 Featured) -

  • Abbott Diabetes Care, Inc.
  • adidas AG
  • Alive Technologies Pty. Ltd.
  • Apple, Inc.
  • ASUSTeK Computer, Inc.
  • Beurer GmbH
  • Dexcom, Inc.
  • Entra Health Systems LLC
  • Fitbit, Inc.
  • Garmin Ltd.
  • GE Healthcare
  • Google Inc.
  • iHealth Labs, Inc.
  • Intelesens Ltd.
  • Isansys Lifecare Ltd.
  • Motorola Mobility LLC
  • LG Electronics Inc.
  • Medtronic plc
  • Misfit, Inc.
  • NeuroSky, Inc.
  • Nike, Inc.
  • Nonin Medical, Inc.
  • Nokia Corporation
  • Withings SA
  • NUUBO Smart Solutions Technologies, SL
  • Omron Healthcare Co., Ltd.
  • Oregon Scientific, Inc.
  • Philips Healthcare
  • Polar Electro Oy
  • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Suunto Oy
  • Under Armour, Inc.
  • Vital Connect, Inc.
  • Winmedical Srl
  • Xiaomi Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • adidas AG
  • Entra Health Systems LLC
  • iHealth Labs, Inc.
  • Misfit, Inc.
  • Nonin Medical, Inc.
  • Suunto Oy
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Catalyzes Consumer Engagement With Health & Wellbeing Technologies
  • Wireless Health & Fitness Devices Market Escapes the Ravages of the Virus Induced Economic Recession
  • A Synopsized Review of the State of the Battered Global Economy
  • Exhibit 1: COVID-19 Leaves the World in Shambles: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Unemployment Rates at Historical Highs Destroys a Multitude of Industries Dependent on Discretionary Income
  • Exhibit 2: Unemployment in the U.S. (In Million)
  • Budgeting for Health! Spending on Health is No Longer Discretionary. COVID-19 Underlines the Importance of Immunity in Today's World
  • Exhibit 3: Fitness Routine Changes of People as A Result of COVID-19
  • Exhibit 4: An Opportunity in Crisis! Global Market for Physical Fitness Equipment for Years 2019, 2020 & 2021 (In US$ Million)
  • A Key Part of This At-Home Fitness Trend is Self-Management of Active Lifestyle Where Wearables Play a Major Role
  • Wireless Health & Fitness Devices: Scope & Definition
  • Recent Market Activity
  • Innovations
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • COVID-19 Accelerates Digital Transformation of Healthcare
  • Exhibit 5: Leading Digital Health Categories by Funding: 1H2020
  • Ready for Disruption! Among the Digital Technologies, Benefiting Are Health & Fitness Wearables
  • Exhibit 6: Global Wearable Technology Market by Application: 2019
  • Market Outlook: A Recapitulation
  • Hospitals Wake Up to the Benefits of Wireless Health Devices
  • Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare
  • Exhibit 7: World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Exhibit 8: Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023
  • Equity in Healthcare is a Burning Global Issue. Wireless Health and Fitness Devices Storm Into the Spotlight For Their Ability to Democratize Healthcare
  • As Smart Homes Evolve Into Portals for Healthcare Delivery, Home Health Hubs Emerge Into a Major Growth Driving Force
  • Exhibit 9: As Smart Homes Become Self-Care Hubs of the Future, Adoption of Smart Wearables Will Receive a Boost: Global Number of Smart Homes (In Million)
  • Integration of Wearables into Telemedicine Explodes Into a Major Trend
  • COVID-19 Pandemic Accelerates Telemedicine Adoption
  • Exhibit 10: Telehealth Visits in the U.S (In Million) for the Year 2020
  • Role of Wearables in Telemedicine
  • Role of AI in Wearables Gets Bigger
  • Increasing Incidence of Chronic Diseases Requiring Health Risk Assessment & Continuous Monitoring Benefits Market Growth
  • Exhibit 11: Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Rising Cardiovascular Disease Burden Drives Demand for Wireless Devices for CVD Management
  • Exhibit 12: Global Annual Medical Cost of CVD in US$ Billion (2020-2030)
  • Epidemic Global Diabetes Prevalence Spurs Opportunities for Wireless Devices for Blood Glucose Monitoring
  • COVID-19 Sharpens Focus on Self-Monitoring of Blood Glucose (SMBG)
  • Exhibit 13: Global Prevalence of Diabetes: Number of Adults (20-79 Years) Diagnosed with Diabetes (in Million) by Gender for 2019, 2030 and 2045
  • Exhibit 14: Global Continuous Glucose Monitoring Systems Market by End-Use (in %) for 2020
  • Rising Global Hypertension Prevalence Drives Opportunities for Wireless Devices for Blood Pressure Monitoring
  • Exhibit 15: Hypertension Prevalence (%) Worldwide by Region in Male and Females Aged 25+ Years
  • Rapidly Aging World Population & COVID-19 Induced Re-Focus on Aging-In-Place to Drive Demand for Remote Patient Monitoring
  • Exhibit 16: World 65+ Population (In Million)
  • Wearables Emerge to be a Major Enabler of Remote Health Monitoring
  • Emerging From the Growing Trend Towards Aging-in-Place is the Rising Popularity of PERS
  • Exhibit 17: Global Market for PERS (In US$ Million) by Geographic Region/Country for Years 2020, 2020, 2024 & 2027
  • Smartwatches: the Poster Child of Fitness Wearables
  • Increasing Obesity Levels Underpins Strong Potential for Pedometers & Heart Rate Monitors
  • Exhibit 18: Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • Wellness Becomes a Bigger Priority for Companies Amid the Pandemic, Wireless Devices for Corporate Wellness Programs Offer Huge Opportunities for Growth
  • Exhibit 19: Global Corporate Wellness Market (In US$ Million) for Years 2019, 2020,2022,2024 & 2027
  • With Rapid Adoption of Wearables Comes the Big Question of How to Manage “Big Data of Wearables”
  • Bluetooth: An Important Enabling Technology for Wireless Wearable Devices
  • Battery Power Being Vital for Wearable Technology is a Major Area Identified for Innovation & R&D
  • Privacy & Data Issues Continue to Plague the Market
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 118
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Abbott Diabetes Care, Inc.
  • adidas AG
  • Alive Technologies Pty. Ltd.
  • Apple, Inc.
  • ASUSTeK Computer, Inc.
  • Beurer GmbH
  • Dexcom, Inc.
  • Entra Health Systems LLC
  • Fitbit, Inc.
  • Garmin Ltd.
  • GE Healthcare
  • Google Inc.
  • iHealth Labs, Inc.
  • Intelesens Ltd.
  • Isansys Lifecare Ltd.
  • Motorola Mobility LLC
  • LG Electronics Inc.
  • Medtronic plc
  • Misfit, Inc.
  • NeuroSky, Inc.
  • Nike, Inc.
  • Nonin Medical, Inc.
  • Nokia Corporation
  • Withings SA
  • NUUBO Smart Solutions Technologies, SL
  • Omron Healthcare Co., Ltd.
  • Oregon Scientific, Inc.
  • Philips Healthcare
  • Polar Electro Oy
  • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Suunto Oy
  • Under Armour, Inc.
  • Vital Connect, Inc.
  • Winmedical Srl
  • Xiaomi Inc.
Note: Product cover images may vary from those shown
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