The global wearable medical devices market reached a value of US$ 18.96 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 60.55 Billion by 2027, exhibiting a CAGR of 22.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Wearable medical devices refer to various instruments that are non-invasively attached to the body for monitoring the patient’s health. It includes multiple diagnostic devices, such as vital signs, glucose, sleep, fetal, obstetric and neuromonitoring devices, along with numerous therapeutic devices for pain management, rehabilitation and respiratory therapy. These devices consist of biosensors, controllers, power source and software systems for data acquisition, interpretation, transfer and storage. They can be worn as an accessory, incorporated in clothing or used as an implant. They are used regularly for accurate measurement of the patient’s vital stats and predicting epileptic seizures and heart problems, which can further aid in enhancing comfort and providing timely clinical interventions to the patient.
Significant growth in the healthcare infrastructure, along with the increasing prevalence of chronic medical ailments, represents one of the key factors creating a positive outlook for the market growth. Furthermore, as the coronavirus disease (COVID-19) pandemic continues to spread across the globe, there has been a significant increase in the demand for wearable medical devices in healthcare centers. These devices have immense applicability for monitoring, providing feedback, rehabilitation, disease management and suggesting adequate treatment. This, in turn, is aiding individuals to keep a regular check of their health concerns and address them in a timely manner. Additionally, various technological advancements, such as the development of the internet of things (IoT)-integrated smartwatches, patches and smart clothing, are acting as other growth-inducing factors. These technologies ensure accurate storing and monitoring of patient information, both on-premises and remotely. Other factors, including the rising geriatric population, along with increasing expenditure capacities of consumers on health management technologies, are anticipated to drive the market further.
2. What is the global wearable medical devices market drivers?
3. What are the major trends in the global wearable medical devices market?
4. What is the impact of COVID-19 on the global wearable medical devices market?
5. What is the global wearable medical devices market breakup by device type?
6. What is the global wearable medical devices market breakup by product?
7. What is the global wearable medical devices market breakup by application?
8. What is the global wearable medical devices market breakup by distribution channel?
9. What are the major regions in the global wearable medical devices market?
Wearable medical devices refer to various instruments that are non-invasively attached to the body for monitoring the patient’s health. It includes multiple diagnostic devices, such as vital signs, glucose, sleep, fetal, obstetric and neuromonitoring devices, along with numerous therapeutic devices for pain management, rehabilitation and respiratory therapy. These devices consist of biosensors, controllers, power source and software systems for data acquisition, interpretation, transfer and storage. They can be worn as an accessory, incorporated in clothing or used as an implant. They are used regularly for accurate measurement of the patient’s vital stats and predicting epileptic seizures and heart problems, which can further aid in enhancing comfort and providing timely clinical interventions to the patient.
Significant growth in the healthcare infrastructure, along with the increasing prevalence of chronic medical ailments, represents one of the key factors creating a positive outlook for the market growth. Furthermore, as the coronavirus disease (COVID-19) pandemic continues to spread across the globe, there has been a significant increase in the demand for wearable medical devices in healthcare centers. These devices have immense applicability for monitoring, providing feedback, rehabilitation, disease management and suggesting adequate treatment. This, in turn, is aiding individuals to keep a regular check of their health concerns and address them in a timely manner. Additionally, various technological advancements, such as the development of the internet of things (IoT)-integrated smartwatches, patches and smart clothing, are acting as other growth-inducing factors. These technologies ensure accurate storing and monitoring of patient information, both on-premises and remotely. Other factors, including the rising geriatric population, along with increasing expenditure capacities of consumers on health management technologies, are anticipated to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global wearable medical devices market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on device type, product, application and distribution channel.Breakup by Device Type:
- Diagnostic Devices
- Vital Sign Monitoring
- Sleep Monitoring
- Electrocardiographs and Obstetric Devices
- Neuromonitoring Devices
- Therapeutic Devices
- Pain Management Devices
- Insulin Delivery Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
Breakup by Product:
- Activity Monitors
- Smartwatches
- Patches
- Smart Clothing
- Hearing Aids
- Others
Breakup by Application:
- Sports and Fitness
- Remote Patient Monitoring
- Home Healthcare
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Apple Inc., Dexcom Inc., Fitbit Inc. (Google LLC), Garmin Ltd., Honeywell International Inc., Koninklijke Philips N.V., Medtronic Plc, Omron Corporation and Vital Connect Inc.Key Questions Answered in this Report
1. What will be the global wearable medical devices market outlook during the forecast period (2022-2027)?2. What is the global wearable medical devices market drivers?
3. What are the major trends in the global wearable medical devices market?
4. What is the impact of COVID-19 on the global wearable medical devices market?
5. What is the global wearable medical devices market breakup by device type?
6. What is the global wearable medical devices market breakup by product?
7. What is the global wearable medical devices market breakup by application?
8. What is the global wearable medical devices market breakup by distribution channel?
9. What are the major regions in the global wearable medical devices market?
Frequently Asked Questions about the Global Wearable Medical Devices Market
What is the estimated value of the Global Wearable Medical Devices Market?
What is the growth rate of the Global Wearable Medical Devices Market?
What is the forecasted size of the Global Wearable Medical Devices Market?
Who are the key companies in the Global Wearable Medical Devices Market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Wearable Medical Devices Market
6 Market Breakup by Device Type
7 Market Breakup by Product
8 Market Breakup by Application
9 Market Breakup by Distribution Channel
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Abbott Laboratories
- Apple Inc.
- Dexcom Inc.
- Fitbit Inc. (Google LLC)
- Garmin Ltd.
- Honeywell International Inc.
- Koninklijke Philips N.V.
- Medtronic Plc
- Omron Corporation
- Vital Connect Inc.
Methodology
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