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Wearable Medical Devices Market

Wearable Medical Devices Market Size study with COVID Impact, By Application (Sports & Fitness, Remote Patient Monitoring, Home Healthcare) by Type (Activity Monitors, Smartwatches, Smart Clothing) By Distribution Channel (Pharmacies, Online Channel, Hypermarkets) by Device Type ( Diagnostics & Monitoring Devices, Therapeutic Devices), and by Region | Global Market Forecasts 2020-2028

Report Id: SNS/HC/1084 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Wearable Medical Devices Market is expected to reach USD 119.25 billion by 2028, and its Size was valued at USD 21.3 billion in 2021, it grow at a CAGR of 27.9% over the forecast period 2022-2028.

Wearable medical device allude to different instruments that are painlessly connected to the body for observing the patient's wellbeing. It incorporates different analytic gadgets, like crucial signs, glucose, rest, fetal, obstetric and neuromonitoring gadgets, alongside various helpful gadgets for torment the executives, recovery and respiratory treatment. These devices comprise of biosensors, regulators, power source and programming frameworks for information securing, translation, move and capacity. They can be worn as an adornment, integrated in dress or utilized as an embed. They are utilized consistently for precise estimation of the patient's indispensable details and foreseeing epileptic seizures and heart issues, which can additionally support improving solace and giving convenient clinical intercessions to the patient.

Wearable Medical Devices Market

Market Dynamics

Drivers

  • Expanding predominance of chronic illnesses

  • The accessibility of advanced medical devices

  • Improvement  in Lifestyle Diseases to Induce Growth

Restraints

  • The disturbing rise in cybercrime, and robbery of patient information

  • The advanced world is famous for the high pace of cyber attacks and stolen data.

Challenges

  • Lack of awareness

  • Low admittance to smartphones and other innovative technologies.

Opportunities

  • Increment and complexity of  data

  • Adoption of Artificial intelligence

  • improved mindfulness as well as inclination for remote observing

Impact of  COVID

The pandemic has prompted a huge expansion in the interest for remote checking and patient commitment arrangements. Most medical clinics/medical care offices are presently growing patient observing to home consideration settings or other transitory arrangements to give ideal consideration. Coronavirus has prompted a huge flood sought for patient observing frameworks, and makers are progressively zeroing in on extending creation to meet the rising requirement for respiratory checking gadgets, multi-boundary monitoring gadgets, blood glucose observing gadgets, cardiovascular observing gadgets, temperature observing gadgets, hemodynamic/pressure observing gadgets, and fetal/neonatal observing gadgets.

During the main quarter of 2020, the market saw an expansion popular for specific items like respiratory screens, multi-boundary observing arrangements, and point-of-care heart checking items like heartbeat oximeters and BP screens. Nonetheless, there was likewise an observed reduction popular and delays in the acquisition in different items and administrations that are not basic to COVID-19 reaction endeavors.

Wearables assume a fundamental part in battling against COVID-19 and other future pandemics. For instance, the information from the wearable devices can be utilized to alarm clients when changes in their measurements coordinate those related with COVID-19 or different illnesses. Wearable medical device can likewise communicate well being information, give abilities to following and contact following, guarantee social separating, and give mental medical care by following a singular's discernment and temperament progressively, subsequently empowering customized mediation. These and other comparative applications support the interest for wearables.

Coronavirus has likewise expanded the consciousness of wellness among individuals, prompting an expanded interest for wearable medical services devices. Coronavirus humble affects the market.

Market Segmentation:

By Application

  • Sports & Fitness

  • Remote Patient Monitoring

  • Home Healthcare

By Type

  • Activity Monitors

  • Smartwatches

  • Smart Clothing

  • Others

By Distribution Channel

  • Pharmacies

  • Online Channel

  • Hypermarkets

By Device Type

  • Diagnostics & Monitoring Devices

  • Therapeutic Devices

Wearable Medical Devices Market

By Product the wearable medical services gadgets market is divided into smartwatches, trackers, fixes, and brilliant apparel.

By Test Type the wearable medical device market is fragmented into analytic and observing device (important bodily function checking device (multiparameter tracker, ECG\heart rate screens, circulatory strain screens, beat oximeter), glucose checking device, rest observing device (wrist actigraphs, polysomnography device), fetal observing device, neuromonitoring device and other symptomatic and observing devices).

By Distribution, The wearable medical care gadgets market has been fragmented into drug stores, online channels, and hypermarkets. The drug stores section represented the biggest portion of the wearable medical care device market. The developing geriatric populace and ensuing expansion in the frequency of constant diseases is driving the development of this fragment.

By application, The wearable medical care gadgets market has been sectioned into fitness and health, distant patient checking and home medical services. the overall fitness and health represented the biggest portion of the wearable medical services gadgets market. Hearty entrance of 3G and 4G organizations for continuous medical care administrations is driving the development of this section.

Key players

Apple Inc, Garmin Ltd., Fitbit, Inc, Kokinkliji Philips N.V., GEHealthcare, Medtronic plcBiotelemetry Inc., Dexcom Inc., Abbott Laboratories, OMRON Corporation.

Regional Analysis

North America represented the biggest income portion of, inferable from the developing predominance of cardiovascular problems, diabetes, and malignant growth inside this region. A increase in number of chronic illnesses that need routine checking and the presence of refined medical services framework are further prone to drive market development.

In the Asia Pacific, the market is supposed to observe outstanding development over the forecast period. Central point helping market development are positive government drives for utilization of such wearable medical devices, expanding geriatric populace base, and expanding medical care use around here.

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

 

Wearable Medical Devices Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 21.3 Billion
Market Size by 2028 US$ 119.25 Billion
CAGR CAGR of 27.9% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Application (Sports & Fitness, Remote Patient Monitoring, Home Healthcare)
• By Type (Activity Monitors, Smartwatches, Smart Clothing)
• By Distribution Channel (Pharmacies, Online Channel, Hypermarkets)
• By Device Type ( Diagnostics & Monitoring Devices, Therapeutic Devices)
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 Apple Inc, Garmin Ltd., Fitbit, Inc, Kokinkliji Philips N.V., GEHealthcare, Medtronic plcBiotelemetry Inc., Dexcom Inc., Abbott Laboratories, OMRON Corporation.
DRIVERS • Expanding predominance of chronic illnesses
• The accessibility of advanced medical devices
• Improvement  in Lifestyle Diseases to Induce Growth
RESTRAINTS • The disturbing rise in cybercrime, and robbery of patient information
• The advanced world is famous for the high pace of cyber attacks and stolen data.


Frequently Asked Questions (FAQ) :

Wearable Medical Devices Market expected to reach USD 119.25 billion by 2028

key drivers of the Wearable Medical Devices Market are Expanding predominance of chronic illnesses, and the accessibility of advanced medical devices

North America represented the biggest income portion of, inferable from the developing predominance of cardiovascular problems, diabetes, and malignant growth inside this region.

The market is divided into four segments and the segments are By Application, By Type, By Distribution Channel, and By Device Type.

The challenges faced by Wearable Medical Devices Market are Lack of awareness and Low admittance to smartphones and other innovative technologies.


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
 
5. Value Chain Analysis
 
6. Porter’s 5 forces model
 
7.  PEST Analysis
 
8. Global Wearable Medical Devices Market  Segmentation, by  Application 
8.1 Sports & Fitness
8.2 Remote Patient Monitoring
8.3 Home Healthcare

9. Global Wearable Medical Devices Market Segmentation, by Type
9.1 Activity Monitors
9.2 Smartwatches
9.3 Smart Clothing
9.4 Others

10. Global Wearable Medical Devices Market Segmentation, By Distribution Channel
10.1 Pharmacies
10.2 Online Channel
10.3 Hypermarkets

11. Global Wearable Medical Devices Market Segmentation, By  Device Type
11.1 Diagnostics & Monitoring Devices
11.2 Therapeutic Devices

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4    Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5    The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6    Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America

13. Company Profiles
13.1 Apple Inc
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Garmin Ltd.
13.3  Fitbit, Inc
13.4 Kokinkliji Philips N.V.
13.5 GEHealthcare
13.6 Medtronic plcBiotelemetry Inc.
13.7 Dexcom Inc.
13.8  Abbott Laboratories
13.7 OMRON Corporation.

14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments

15. Conclusion

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Secondary Research

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