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Wearable Medical Devices: Technologies and Global Markets 2021-2026

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    Report

  • 188 Pages
  • December 2021
  • Region: Global
  • BCC Research
  • ID: 4755813

The global wearable medical devices market should reach $83.9 billion by 2026 from $20.1 billion in 2021 at a compound annual growth rate (CAGR) of 33.1% for the forecast period of 2021 to 2026. 




The North American wearable medical devices market is expected to grow from $8.7 billion in 2021 to $33.6 billion in 2026 at a CAGR of 31.0% for the forecast period of 2021 to 2026. 


The European wearable medical devices market is expected to grow from $5.4 billion in 2021 to $23.3 billion in 2026 at a CAGR of 33.9% for the forecast period of 2021 to 2026.


Report Scope

The current report offers a detailed picture of wearable medical devices.


This report highlights the current and future market potential for wearable medical devices and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities, and trends in the market. This report also covers market projections through 2026, as well as key market players.


The report details market shares for wearable medical devices. By geography, the market has been segregated b North America, Europe, the Asia-Pacific region, the Middle East and Africa, and South America. North America includes the U.S., Canada and Mexico, while Europe includes Germany, the U.K., France, Italy, Spain, and the Rest of Europe. The Asia-Pacific region includes China, India, Japan, Australia, New Zealand, and the Rest of Asia-Pacific.


The Report Includes

  • 59 tables
  • An up-to-date review and analysis of the global markets for wearable medical device technologies
  • Analyses of the global market trends, with historic data from 2019 to 2020, estimates for 2021 and projections of compound annual growth rates (CAGRs) through 2026
  • Review, analysis and forecast key wearable medical device technologies used for diagnosis, monitoring, treatment and prevention of various diseases and disorders
  • Evaluation and forecast the overall market size, forecasted growth trends, and corresponding market share analysis by application, end-user and geographic region
  • Highlights of the upcoming market potential and areas of focus to forecasting this market into various segments and sub-segments
  • In-depth information (facts and figures) concerning market drivers, market deterrents and other demographic and economic factors that will drive future demand for medical devices
  • Identification of promising new wearable medical devices and technologies still in the development and testing stage and assess the probability that they will be commercialized successfully in the next five years
  • Insight into the recent structure of the medical device and diagnostics industry, competitive landscape, R&D activities, company revenue share analysis, and key M&A deals and collaboration agreements in the global wearable medical devices market
  • Descriptive company profiles of the major global players, including Abbott, General Electric Co., Medtronic PLC, Siemens Healthineers AG, Thync Inc. and VivoSensMedical GmbH
Frequently Asked Questions about the Global Wearable Medical Devices Market

What is the estimated value of the Global Wearable Medical Devices Market?

The Global Wearable Medical Devices Market was estimated to be valued at $20.1 Billion in 2021.

What is the growth rate of the Global Wearable Medical Devices Market?

The growth rate of the Global Wearable Medical Devices Market is 33.1%, with an estimated value of $83.9 Billion by 2026.

What is the forecasted size of the Global Wearable Medical Devices Market?

The Global Wearable Medical Devices Market is estimated to be worth $83.9 Billion by 2026.

Who are the key companies in the Global Wearable Medical Devices Market?

Key companies in the Global Wearable Medical Devices Market include 270 Vision Ltd., Abbott, Accumed Systems Inc., Actigraph Llc, General Electric Co., Medtronic Plc, Senseonics, Sensoria and Siemens Healthcare.

Table of Contents

Chapter 1 Introduction
  • Study Goals and Objectives
  • Reasons for Doing This Study
  • What's New in This Report
  • Scope of Report
  • Information Sources
  • Methodology
  • Geographic Breakdown
  • Analyst's Credentials
  • Custom Research
  • Related Reports


Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Background
  • History of Wearable Technology
  • Design and Technical Considerations
  • Ergonomics and Wearability
  • Interface Design
  • Safety and Reliability
  • Sensor Design
  • Power Consumption and Battery Life
  • Data Acquisition
  • Feedback
  • Privacy and Security
  • Integration with Smart Devices
  • Potential Applications With Respect to Wearable Technology


Chapter 4 Impact of the COVID-19 Pandemic
  • Introduction
  • Impact of COVID-19 on Markets
  • Changes in Consumption Trends for Health-Related Products


Chapter 5 Market Dynamics
  • Market Drivers
  • Growing Geriatric Population
  • Increasing Incidence of Chronic Lifestyle Diseases
  • High Healthcare Spending and Economic Growth
  • Technological Advancements and Innovation in Wearable Medical Devices
  • Corporate Wellness Programs and Incentives for Users of Wearable Medical Devices
  • Market Restraints
  • Data Privacy and Security Concerns
  • High Cost of Devices
  • Slow Adoption in Developing Economies
  • Regulatory Scrutiny
  • Market Opportunities
  • Demand for Home Care and Remote Monitoring
  • Increasing Health and Fitness Awareness
  • Increasing Penetration of AI and Big Data in Healthcare to Create Smart and Adaptive Wearable Devices


Chapter 6 Market Breakdown by Application
  • Health and Fitness Wearables
  • Target Users
  • Types of Health and Fitness Wearables
  • Key Health and Fitness Wearables
  • Market Size and Forecast
  • Diagnostic
  • Able to Target Chronic Diseases and Disorders
  • Types of Diagnostic and Monitoring Wearables
  • Key Products
  • Market Size and Forecast
  • Therapeutic
  • Target Chronic Diseases and Disorders
  • Key Wearable Therapeutic Devices
  • Market Size and Forecast
  • Rehabilitation
  • Target Diseases or Disability
  • Types of Rehabilitation Wearables
  • Key Wearable Rehabilitation Devices
  • Other Rehabilitation Wearables
  • Market Size and Forecast


Chapter 7 Market Breakdown by Sales Channel
  • Pharmacies
  • Market Size and Forecast
  • Online Channels/Supermarkets/Hypermarkets
  • Market Size and Forecast


Chapter 8 Market Breakdown by Region
  • Global Market for Wearable Medical Devices by Region
  • North America
  • Europe
  • Asia-Pacific
  • RoW (Rest of the World)


Chapter 9 Regulatory Scenarios
  • Introduction
  • Regulatory Environment by Region
  • U.S.
  • Europe
  • Japan
  • Rest of Asia


Chapter 10 Competitive Landscape
  • Overview
  • Company Market Shares of Wearable Medical Devices


Chapter 11 Reimbursement Practices
  • Introduction
  • United States
  • Europe
  • Japan
  • RoW
  • Technological Developments
  • Social Developments
  • Long-Term Outlook for Wearable Medical Devices


Chapter 12 Company Profiles
  • 270 Vision Ltd.
  • Accumed Systems Inc.
  • Actigraph Llc
  • Abbott
  • General Electric Co.
  • Medtronic Plc
  • Siemens Healthcare
  • Senseonics
  • Sensoria
  • Siemens
  • Spire
  • STBL Medical Research Ag
  • Step Of Mind Ltd.
  • Thync
  • Turingsense
  • Vital Connect
  • Vivalnk
  • Vivosensmedical
  • Wahoo Fitness
  • West Pharmaceutical Services Inc.
  • Whoop
  • Winmedical
  • Withings
  • Xybermind
  • Ybrain
  • Zephyr
  • Zoll Medical Corp.


List of Tables
Summary Table: Global Market for Wearable Medical Devices, by Region, Through 2026
Table 1: Ergonomic Considerations in Designing a Wearable Medical Device
Table 2: Potential Applications of Wearable Technologies
Table 3: Estimated Global Population and Annual Growth, by Selected Age Group and Selected Years, Through 2030
Table 4: Start-ups in Wearable Medical Devices
Table 5: Wearable Devices and Security Vulnerabilities
Table 6: Global Market for Wearable Medical Devices, by Application, Through 2026
Table 7: Global Market for Health and Fitness Wearable Medical Devices, by Region, Through 2026
Table 8: BMI Categories Based on Increasing Health Risks
Table 9: Trends in Obesity Composition of the Global Population, Through 2020
Table 10: Blood Pressure Levels and Hypertensive Status
Table 11: Global Market for Diagnostic Wearable Medical Devices, by Region, Through 2026
Table 12: Key Diabetes Management Wearables
Table 13: Global Market for Therapeutic Wearable Medical Devices, by Region, Through 2026
Table 14: Global Market for Wearable Medical Devices for Rehabilitation, by Region, Through 2026
Table 15: Global Market for Wearable Medical Devices, by Sales Channel, Through 2026
Table 16: Global Market for Wearable Medical Devices Sold Through Pharmacies, by Region, Through 2026
Table 17: Global Market for Wearable Medical Devices Sold through Online Channels/Supermarkets/Hypermarkets, by Region, Through 2026
Table 18: Global Market for Wearable Medical Devices, by Region, Through 2026
Table 19: North American Market for Wearable Medical Devices, by Application, Through 2026
Table 20: North American Market for Wearable Medical Devices, by Sales Channel, Through 2026
Table 21: North American Market for Wearable Medical Devices, by Country, Through 2026
Table 22: Estimated Number of New Cancer Cases, U.S., 2021
Table 23: European Market for Wearable Medical Devices, by Application, Through 2026
Table 24: European Market for Wearable Medical Devices, by Sales Channel, Through 2026
Table 25: European Market for Wearable Medical Devices, by Country, Through 2026
Table 26: Asia-Pacific Market for Wearable Medical Devices, by Application, Through 2026
Table 27: Asia-Pacific Market for Wearable Medical Devices, by Sales Channel, Through 2026
Table 28: Asia-Pacific Market for Wearable Medical Devices, by Country, Through 2026
Table 29: RoW Market for Wearable Medical Devices, by Application, Through 2026
Table 30: RoW Market for Wearable Medical Devices, by Sales Channel, Through 2026
Table 31: Differences in Regulatory Scrutiny between the U.S. and Europe
Table 32: Regulatory Framework in the Wearable Medical Device Market
Table 33: 270 Vision Ltd.: Product Portfolio
Table 34: Accumed Systems Inc.: Product Portfolio
Table 35: ActiGraph LLC: Product Portfolio
Table 36: ActiGraph, LLC: Recent Developments, 2021
Table 37: Abbott: Product Portfolio
Table 38: Sensoria: Product Portfolio
Table 39: Spire: Product Portfolio
Table 40: STBL Medical Research AG: Product Portfolio
Table 41: Step of Mind Ltd.: Product Portfolio
Table 42: Thync Inc.: Product Portfolio
Table 43: TuringSense Inc.: Product Portfolio
Table 44: Vital Connect: Product Portfolio
Table 45: Vital Connect: Recent Development, 2021
Table 46: VivaLnk: Product Portfolio
Table 47: VivaLnk: Recent Developments, 2021
Table 48: VivoSensMedical GmbH: Product Portfolio
Table 49: Wahoo Fitness LLC: Product Portfolio
Table 50: West Pharmaceutical Services Inc.: Product Portfolio
Table 51: WHOOP: Product Portfolio
Table 52: WinMedical SRL: Product Portfolio
Table 53: Withings SAS: Product Portfolio
Table 54: Withings SAS: Recent Developments, 2021
Table 55: Xybermind: Product Portfolio
Table 56: Ybrain: Product Portfolio
Table 57: ZEPHYR: Product Portfolio
Table 58: ZOLL Medical Corp.: Product Portfolio


List of Figures
Summary Figure A: Global Market for Wearable Medical Devices, by Region, 2019-2026
Summary Figure B: Global Market Shares of Wearable Medical Devices, by Region, 2020
Figure 1: History of Wearable Technology
Figure 2: Market Drivers of Wearable Medical Devices
Figure 3: Percentage of Population Aged 65 Years and Above, by Region, 2018
Figure 4: Percentage of Population Aged 65 Years and Above, by Region, 2050
Figure 5: Estimated Global Population, by Selected Age Group and Selected Years, 2000-2030
Figure 6: Trends in Rising Aged Population Around the World, 2014-2022
Figure 7: Increase in Fitbit’s Average Selling Price, 2016 to Q3 2018
Figure 8: Global Market Shares of Wearable Medical Devices, by Application, 2020
Figure 9: Global Market for Wearable Medical Devices, by Application, 2019-2026
Figure 10: Global Market for Health and Fitness Wearable Medical Devices, 2019-2026
Figure 11: Projected Global Incidence of Diabetes, 2017 and 2045
Figure 12: Global Burden of Stroke, 1990 and 2020
Figure 13: Global Market for Diagnostic Wearable Medical Devices, 2019-2026
Figure 14: Global Market for Therapeutic Wearable Medical Devices, 2019-2026
Figure 15: Global Market for Wearable Medical Devices for Rehabilitation, 2019-2026
Figure 16: Global Market Shares of Wearable Medical Devices, by Sales Channel, 2020
Figure 17: Global Market for Wearable Medical Devices Sold Through Pharmacies, 2019-2026
Figure 18: Global Market for Wearable Medical Devices Sold Through Pharmacies, by Region, 2019-2026
Figure 19: Global Market for Wearable Medical Devices Sold through Online Channels/Supermarkets/Hypermarkets, 2019-2026
Figure 20: Global Market for Wearable Medical Devices Sold through Online Channels/Supermarkets/Hypermarkets, by Region, 2019-2026
Figure 21: Global Market Shares of Wearable Medical Devices, by Region, 2020
Figure 22: North American Market Shares of Wearable Medical Devices, by Application, 2020
Figure 23: North American Market Shares of Wearable Medical Devices, by Sales Channel, 2020
Figure 24: North American Market Shares of Wearable Medical Devices, by Country, 2020
Figure 25: U.S. Market for Wearable Medical Devices, 2019-2026
Figure 26: Canadian Market for Wearable Medical Devices, 2019-2026
Figure 27: Mexican Market for Wearable Medical Devices, 2019-2026
Figure 28: European Market Shares of Wearable Medical Devices, by Application, 2020
Figure 29: European Market Shares of Wearable Medical Devices, by Sales Channel, 2020
Figure 30: European Market Shares of Wearable Medical Devices, by Country, 2020
Figure 31: German Market for Wearable Medical Devices, 2019-2026
Figure 32: U.K. Market for Wearable Medical Devices, 2019-2026
Figure 33: Number of New Cancer Cases in France, 2020
Figure 34: French Market for Wearable Medical Devices, 2019-2026
Figure 35: Italian Market for Wearable Medical Devices, 2019-2026
Figure 36: Number of New Cancer Cases in Spain, 2020
Figure 37: Spanish Market for Wearable Medical Devices, 2019-2026
Figure 38: Rest of European Market for Wearable Medical Device, 2019-2026
Figure 39: Asia-Pacific Market Shares of Wearable Medical Devices, by Application, 2020
Figure 40: Asia-Pacific Market Shares of Wearable Medical Devices, by Sales Channel, 2020
Figure 41: Asia-Pacific Market Shares of Wearable Medical Devices, by Country, 2020
Figure 42: Japanese Market for Wearable Medical Devices, 2019-2026
Figure 43: Number of New Cancer Cases in China, 2020
Figure 44: Distribution of New Cancer Cases in China, 2020
Figure 45: Chinese Market for Wearable Medical Devices, 2019-2026
Figure 46: Indian Market for Wearable Medical Devices, 2019-2026
Figure 47: Rest of Asia-Pacific Market for Wearable Medical Devices, 2019-2026
Figure 48: Number of New Cases in Africa, 2020
Figure 49: RoW Market Shares of Wearable Medical Devices, by Application, 2020
Figure 50: RoW Market Shares of Wearable Medical Devices, by Sales Channel, 2020
Figure 51: Global Market Shares of Wearable Medical Devices, 2020
Figure 52: Abbott: Annual Revenue, 2018-2020
Figure 53: Abbott: Revenue Share, by Country, 2020
Figure 54: Abbott: Revenue Share, by Business Segment, 2020
Figure 55: General Electric Co.: Annual Revenue, 2018-2020
Figure 56: General Electric Co.: Revenue Shares, by Region/Country, 2020
Figure 57: General Electric Co.: Revenue Share, by Business Segment, 2020
Figure 58: Medtronic PLC: Annual Revenue, 2018 and 2019
Figure 59: Medtronic PLC: Revenue Share, by Product Category, 2019
Figure 60: Siemens: Annual Revenue, 2019 and 2020
Figure 61: Siemens: Revenue Share, by Segment, 2020

Executive Summary

The emergence of wearable technology has disrupted the healthcare industry in recent years, leading to increasing adoption and market growth for wearable medical devices. These devices have an impact far beyond typical consumer uses like fitness and activity tracking and have penetrated the area of medical applications like diagnosis, monitoring and, to a certain extent, the treatment of chronic diseases. The convergence of wearables like smartwatches and activity trackers with medical-grade products has fostered the growth of smart technology in healthcare.


A wide range of wearable medical devices is being developed to address a broad range of ailments. Although these wearable devices are not yet a mainstay in the healthcare industry, many medical device manufacturers have started adding wearable components to their product lines to address unmet needs in-home healthcare and remote monitoring - two areas that are showing exponential growth.


Medical device companies, both industry giants and startups, are investing significantly in research and development (R&D) to develop innovative wearables that can manage a host of medical conditions ranging from obesity and sleep apnea to diabetes, chronic obstructive pulmonary disease (COPD), asthma and cardiac diseases, and even disability rehabilitation and the monitoring of progressive nervous system disorders like Parkinson’s disease.


The increasing prevalence of diseases requiring round-the-clock monitoring is an important driver of the wearable medical device market and is expected to significantly contribute to the double -digit growth of the industry, especially considering the global increase in the geriatric population. Specifically, real-time activity and health tracking, remote patient monitoring, the convenience of home healthcare and a booming fitness trend are key factors behind this exponential growth. Technological advancements and attractive product features such as smartphone connectivity are also promoting the adoption of medical wearables.


Concerns such as data privacy, security, an uncertain regulatory landscape, and the high cost of wearable medical devices may act as growth barriers, but market penetration and growth are predicted to continue during the forecast period due to the constant introduction of innovative devices to address healthcare needs and the continuous evolution of the industry to keep pace with the demand for effective and personalized wearable healthcare devices.


The wearable medical device industry is now in a stage of innovation to develop medical-grade devices that can easily be worn and integrated into everyday life by leveraging newer advancements in technology, making them smaller, lighter, and less invasive. Continuous glucose monitoring devices and wearable insulin delivery systems have revolutionized diabetes management and are already rivaling traditional blood glucose monitoring and insulin delivery.


Companies Mentioned

  • 270 Vision Ltd.
  • Abbott
  • Accumed Systems Inc.
  • Actigraph Llc
  • General Electric Co.
  • Medtronic Plc
  • Senseonics
  • Sensoria
  • Siemens
  • Siemens Healthcare
  • Spire
  • STBL Medical Research Ag
  • Step Of Mind Ltd.
  • Thync
  • Turingsense
  • Vital Connect
  • Vivalnk
  • Vivosensmedical
  • Wahoo Fitness
  • West Pharmaceutical Services Inc.
  • Whoop
  • Winmedical
  • Withings
  • Xybermind
  • Ybrain
  • Zephyr
  • Zoll Medical Corp.