Report Scope & Overview:
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 integrating 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.
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.
Need for advance technology
Increase in R&D investment
Need to improve in military performance
Defense budget decreases
Device should helpful to military
Light in weight
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.
In 2021, 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.
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.
Heart Rate Variability
Sleep-wake Cycle Alert
Core Body Temperature Monitoring
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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|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|
|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|
The challenges faced by Military Wearable Medical Device is Competition between industries
The application is divided into 2 sub segments is heart monitoring, and performance monitor
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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 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
9.2 North America
9.3.6 The Netherlands
9.3.7 Rest of Europe
9.4.2 South Korea
9.4.6 Rest of Asia-Pacific
9.5 The Middle East & Africa
9.5.3 South Africa
9.6 Latin America
9.6.3 Rest of Latin America
10. Company Profiles
10.1.2 Products/ Services Offered
10.1.3 SWOT Analysis
10.1.4 The SNS view
10.6 Zephyr Technology Corporation
10.7 Polar Electro
10.9 Apple Inc.
11. Competitive Landscape
11.1 Competitive Benchmark
11.2 Market Share Analysis
11.3 Recent Developments
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