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Military Wearable Medical Device Market  Report Scope & Overview:

The Military Wearable Medical Device Market Size was valued at USD 25.22 billion in 2022 and is expected to reach USD 207.04 billion by 2030, and grow at a CAGR of 30.1% over the forecast period 2023-2030.

Military Wearable medical device technology is now a more common feature of biomedical devices. Patients with chronic diseases can control and monitor their illnesses thanks to the ease and convenience of the use of new technology, which helps them avoid pain and cardiac arrest. Wearable medical devices are integrated with mobile devices like iOS and Android. Smartphones can be used efficiently and successfully to monitor and diagnose patient outcomes. Military Wearable Medical Device Market is predicted to rise due to improvements in telemedicine and virtual medicine for online healthcare and disease management.

Military Wearable Medical Device Market Revenue Analysis

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Soldiers are trained and work in a difficult environment, therefore the wearable gadget they carry must be light and deliver comprehensive information about their health and productivity. Many market competitors are developing and deploying wearable technologies that can withstand the harshest battlefield conditions. Armed forces can use the gadget to track and monitor each individual's sleep, circadian stability, and all physical activity in order to make required changes for better results based on the data.

MARKET DYNAMICS

DRIVERS

  • Need for advance technology

  • Increase in R&D investment

  • Need to improve in military performance

RESTRAINTS

  • Defense budget decreases

OPPORTUNITIES

  • Device should helpful to military

  • Light in weight

CHALLENGES

  • Competition between industries

IMPACT OF COVID-19

Military Wearable medical device technologies could monitor, identify, and prevent the transmission of the virus, the COVID-19 pandemic has revolutionised the market for military wearable medical devices. Indirectly, the COVID-19 virus has increased demand for wearable medical devices. According to WHO recommendations, viral infection spreads mostly through the eyes, nose, and mouth, and it is difficult to detect the virus in the early stages of infection. As a result of the new technology, a person can routinely check and monitor their body temperature, oxygen level, heart rate, and physical performance in order to take quick precautions and treatment if any undesirable results are discovered.

BY Application:

In 2022, the heart monitor segment had the highest revenue share since the system detects any questionable changes in an individual's health and allows them to be treated as soon as feasible.

KEY MARKET SEGMENTATION:

By Application

  • Heart Monitor

  • Sick Alert

  • Heart Rate Variability

  • Performance Monitor

  • Sleep-wake Cycle Alert

  • Core Body Temperature Monitoring

REGIONAL ANALYSIS

Due to technical improvements and increased R&D spending on military equipment, North America led the market in 2020 and is likely to continue to do so over the forecast period.

Due to increased cardiovascular events in the region and rising healthcare spending, Asia Pacific is predicted to expand at the quickest rate over the projection period.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Some of the major key players are as follows: Samsung, Fitbit, Garmin, Camnteh, Bittium, Zephyr Technology Corporation, Polar Electro, GOQii, Oura, Apple Inc., NeuroMetrix, and other players.

Fitbit-Company Financial Analysis

Military Wearable Medical Device Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 25.22 Billion
Market Size by 2030 US$ 207.04 Billion
CAGR CAGR of 30.1% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Application (Heart Monitor (Heart Rate Variability, Sick Alert), Performance Monitor (Core Body Temperature Monitoring, Sleep-wake Cycle Alert)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Samsung, Fitbit, Garmin, Camnteh, Bittium, Zephyr Technology Corporation, Polar Electro, GOQii, Oura, Apple Inc., NeuroMetrix, and other players.
DRIVERS • Need for advance technology
• Increase in R&D investment
• Need to improve in military performance
RESTRAINTS • Defense budget decreases

Frequently Asked Questions

Ans: The Military Wearable Medical Device Market size was valued at US$ 25.22 bn in 2022.

Ans: The Military Wearable Medical Device Market is to grow at a CAGR of 30.1% during the forecast period 2023-2030.

Due to technical improvements and increased R&D spending in military equipment, North America led the market in 2020 and is likely to continue to do so over the forecast period.

Military Wearable Medical Device Market is expected to reach USD 46.7 billion by 2028.

key drivers of the Military Wearable Medical Device Market is Need for advance technology, Increase in R&D investment, need to improve in military performance

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis 

8. Military Wearable Medical Device Market Segmentation, By Application

8.1 Heart Monitor

8.1.1 Sick Alert

8.1.2 Heart Rate Variability

8.2 Performance Monitor

8.2.1 Sleep-wake Cycle Alert

8.2.2 Core Body Temperature Monitoring

9. Regional Analysis

9.1 Introduction

9.2 North America

9.2.1 USA

9.2.2 Canada

9.2.3 Mexico

9.3 Europe

9.3.1 Germany

9.3.2 UK

9.3.3 France

9.3.4 Italy

9.3.5 Spain

9.3.6 The Netherlands

9.3.7 Rest of Europe

9.4 Asia-Pacific

9.4.1 Japan

9.4.2 South Korea

9.4.3 China

9.4.4 India

9.4.5 Australia

9.4.6 Rest of Asia-Pacific

9.5 The Middle East & Africa

9.5.1 Israel

9.5.2 UAE

9.5.3 South Africa

9.5.4 Rest

9.6 Latin America

9.6.1 Brazil

9.6.2 Argentina

9.6.3 Rest of Latin America

10. Company Profiles

10.1 Samsung

10.1.1 Financial

10.1.2 Products/ Services Offered

10.1.3 SWOT Analysis

10.1.4 The SNS view

10.2 Fitbit

10.3 Garmin

10.4 Camnteh

10.5 Bittium

10.6 Zephyr Technology Corporation

10.7 Polar Electro

10.8 GOQii

10.9 Apple Inc.

10.11NeuroMetrix,

11. Competitive Landscape

11.1 Competitive Benchmark

11.2 Market Share Analysis

11.3 Recent Developments

12. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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