The global wearable healthcare/medical devices market is expected to reach USD 38.59 Billion by 2028, according to a new report by Reports and Data. Increased adoption of smartphone based application for healthcare monitoring by individuals as well as healthcare providers is the key factor driving demand. Increasing incidence of diseases associated with heart, diabetes, obesity and hypertension is likely to increase the adoption of wearable in the coming years.
Based on WHO statistics, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. Additionally, research has proven diabetes as a major cause of blindness, kidney failure, heart attacks, stroke and lower limb amputation. Adoption of wearable would help in bringing down the incidence as well as mortality associated with diabetes as people would be able to track their glucose levels. For instance: the continuous glucose monitors have witnessed an increased adoption by the diabetic patients. Along with keeping a track on glucose level, the patients are able to make informed choice about their diet and physical activities.
Asia Pacific is expected to be a key revenue generating region in the forecast period. The market is projected to grow at a CAGR of 19.1% in the forecast period. Statistics suggest that Asia Pacific is the home to around 60 percent of the global diabetic population. Based on International Diabetes Federation (IDF) Diabetes Atlas, in 2017, 82 million adults aged 20-79 years were living with diabetes in the South-East Asian region. Out of this around 45.8 percent of cases were diagnosed. Adoption of wearable devices would thus help in monitoring glucose level and thus prevent further complications associated with diabetes.
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The report provides an in-depth analysis of the key developments and innovations of the market such as research and development advancements, product launches, mergers acquisitions, joint ventures, partnerships, government deals, and collaborations. The report offers a comprehensive assessment of key players in the market along with their global position, financial standing, business expansion plans, production and manufacturing capacity, and strategic alliances.
Key players in the market include
Fitbit, Philips, Garmin, Lifewatch, Medtronic, NeuroMetrix, Qardio, Omron, and Insulet.
Furthermore, the report segments Wearable Healthcare/Medical Devices market on the basis of key product types and applications and provides details about the revenue growth, revenue CAGR, and revenue share each segment is expected to register over the forecast period.
Product Outlook (Revenue, USD Billion, 2018-2028)
- Fitness Trackers
- Body Sensors
- Wearable Patches
- Wrist Devices
- Heart Straps
- Posture Monitors
- Movement Sensors
- Wearable Defibrillator
- Smart Clothing
- Smart Glasses
- Wearable Camera
Device Outlook (Revenue, USD Billion, 2018-2028)
- Diagnostic and Monitoring Devices
- Vital Signs Monitoring Devices
- Glucose Monitoring Devices
- Sleep Monitoring Devices
- Fetal Monitoring Obstetric Devices
- Neuro-monitoring Devices
- Therapeutic Devices
- Pain Management Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
- Insulin Pumps
- Cardiac Devices
Application Outlook (Revenue, USD Million, 2018-2028)
- Sports Fitness
- Remote Patient Monitoring
- Home Healthcare
- Emergency Medical Care
For a better understanding of the global Wearable Healthcare/Medical Devices market dynamics, a regional analysis of the market across key geographical areas is offered in the report. The market is spread across key geographical regions such as North America, Europe, Latin America, Asia Pacific, and Middle East Africa. Each region is analysed on the basis of the market scenario in the major countries of the regions to provide a deeper understanding of the market. It provides insights into production and consumption patterns, supply and demand ratio, export/import, current and emerging trends and demands, market share, market size, revenue contribution, and presence of key players in each region.
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In-depth regional analysis includes:
- North America (U.S., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of EU)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Features of the Global Wearable Healthcare/Medical Devices Market Report:
- Comprehensive analysis of the key players operating in the market along with their SWOT analysis, their business profiles, business overview, market share, global position, and market value
- Identification and analysis of significant trends and factors driving revenue growth of the market
- Analysis of the competitive landscape along with strategic mergers, expansions, agreements, partnerships, joint ventures, acquisitions, and product launches
- Assessment of each market segment along with their growth trends and market revenue contribution
- Study of the key regions to pinpoint growth potential and study opportunities, threats, limitations, and risks
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