Wearable Medical Devices Market 2025 Foresight by Top Competitors - LifeWatch, Fitbit, Dragerwerk, Jawbone, Polar Electro, Garmin Corporation, Apple, HUAWEI Technologies

Instead of having to go to a clinic for monitoring, patients can do it at home and always be connected to a doctor. Wearable devices are powerful tools to keep patients involved and invested in their personal health. The most frequent users of wearable devices are people who are less healthy than average and more likely to need to be hospitalized. Devices like activity trackers help customers stay more active and healthier on their own, which can decrease their need to see a doctor, while more advanced devices can monitor patient health metrics such as blood pressure, heart rate, and diet on the go. If a monitored patient’s blood pressure spikes, the doctor can receive a notification and take action. Wearable devices are a less invasive way to still get great care.

Wearable medical devices are electronic in nature and are equipped with sensors that help in monitoring as well as keeping track of a patient’s health. Some of the uses of these devices include, activity tracking, infant monitoring and vital signs monitoring among others. Wearable devices help a patient to have access to his own health records while performing the daily routine activities or tasks. Key factors driving the market are increasing prevalence of chronic diseases, rising geriatric population and rising awareness regarding importance of fitness are key drivers for the growth of the market.

The global wearable medical devices market is expected to reach US$ 23,310.9 Mn in 2025 from US$ 6,231.7 Mn in 2017. The market is estimated to grow with a CAGR of 18.1% from 2018-2025.

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Major Market Developments-
In October 2018, Huawei Consumer Business Group (BG) launched two new wearables, HUAWEI WATCH GT and HUAWEI Band 3 Pro. The new wearables offer novel and sophisticated ways for consumers to track their activities and receive fitness coaching, based on scientific research.

Wearable medical devices market is segmented into device type and application. On the basis of device type, the market is segmented into diagnostic & monitoring devices and therapeutic devices. The diagnostic & monitoring devices segment is further classified as, vital signs monitoring devices, glucose monitoring devices, sleep monitoring devices, and other devices. The segment of therapeutic devices is further segmented as, pain management devices, rehabilitation devices, respiratory therapy devices, and insulin pumps. The market based on the application is segmented as remote patient monitoring, sports & fitness and home healthcare.

The report would be of an interest to various stakeholders operating in the wearable medical devices market. These stakeholders include healthcare institutes, research institutes, wearable medical devices product manufacturers and vendors, research consulting firms, wearable medical devices service providers, distributors and others.

The objective of the study is to describe, define, and forecast the wearable medical devices market by product class and application, and region. The report also provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and trends). The report helps to analyze market with respect to individual growth trends, prospects, and contributions to the overall wearable medical devices market.

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The report analyzes factors affecting market from both demand and supply side and further evaluates wearable medical devices market dynamics effecting the wearable medical devices market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions. The report also includes the profiles of key manufacturing companies along with their SWOT analysis and market strategies.

Some of the prominent players operating in wearable medical devices market are Xiaomi Technology Co., Ltd, Samsung Electronics Co., Ltd., Fitbit, Inc., Garmin Corporation, Apple Inc., HUAWEI Technologies Co., Polar Electro, Omron Corporation, Activinsights Ltd., and VitalConnect. The company players are indulged into development of novel and innovative products to cater the demands of users in the wearable medical devices market.

TABLE OF CONTENTS

1. INTRODUCTION 23
1.1 SCOPE OF THE STUDY 23
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 23

2. GLOBAL WEARABLE MEDICAL DEVICES MARKET – KEY TAKEAWAYS 24

3. GLOBAL WEARABLE MEDICAL DEVICES MARKET – MARKET LANDSCAPE 26
3.1 OVERVIEW 26
3.2 MARKET SEGMENTATION 26
3.2.1 Global Wearable Medical Devices Market – By Device Type 27
3.2.2 Global Wearable Medical Devices Market – Application 28
3.2.3 Global Wearable Medical Devices Market – By Geography 28
3.3 PEST ANALYSIS 29
3.3.1 North America – PEST Analysis 29
3.3.2 Europe– PEST Analysis 31
3.3.3 Asia Pacific– PEST Analysis 33
3.3.4 Middle East And Africa– PEST Analysis 35
3.3.5 South and Central America – PEST Analysis 37

4. GLOBAL WEARABLE MEDICAL DEVICES MARKET – KEY MARKET DYNAMICS 39
4.1 KEY MARKET DRIVERS 39
4.1.1 Rising Prevalence of Chronic Diseases 39
4.1.2 Increasing Geriatric Population 40
4.1.3 Rising Awareness Regarding Fitness 40
4.2 KEY MARKET RESTRAINTS 41
4.2.1 Unaddressed Regulatory Concerns 41
4.2.2 Constant Product Recalls in the Market 41
4.3 KEY MARKET OPPORTUNITIES 41
4.3.1 Rising Demand in Home Healthcare 41
4.3.2 Promotion of Wearable Devices by Insurance Providers and Other Corporations 42
4.4 FUTURE TRENDS 42
4.4.1 Rise in the Use of Smart Apparels 42
4.5 IMPACT ANALYSIS 43

5. WEARABLE MEDICAL DEVICES MARKET – GLOBAL ANALYSIS 44
5.1 WEARABLE MEDICAL DEVICES MARKET REVENUE FORECASTS AND ANALYSIS 44
5.2 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY GEOGRAPHY - FORECASTS AND ANALYSIS 45
5.3 PERFORMANCE OF KEY PLAYERS 46
5.3.1 FitBit, Inc 46
5.3.2 Apple, Inc. 47
5.4 EXPERT OPINIONS 47

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About Us - The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Healthcare IT, Biotechnology and Medical Device industries.

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