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Report Scope & Overview:

The Wearable Medical Devices Market is expected to reach USD 195.08 billion by 2030, and its Size was valued at USD 27.24 billion in 2022, it grow at a CAGR of 27.9% over the forecast period 2023-2030.

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 Revenue Analysis

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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 Monitoring Device, 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

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 Segmentation Analysis

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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.

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

Key Players:

The Major players are Apple Inc, Garmin Ltd., Fitbit, Inc, Kokinkliji Philips N.V., GE Healthcare, Medtronic plcBiotelemetry Inc., Dexcom Inc., Abbott Laboratories, OMRON Corporation and Other Players.

Kokinkliji Philips N.V-Company Financial Analysis

Wearable Medical Devices Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 27.24 Billion
Market Size by 2030  US$ 195.08 Billion
CAGR  CAGR of 27.9% 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 (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

Ans: The Wearable Medical Devices Market size is expected to reach USD 195.08 billion by 2030.

Ans: The Wearable Medical Devices Market is to grow at a CAGR of 27.9% over the forecast period 2023-2030.

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

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. 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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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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Primary Research

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Data Bank Validation

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