Wearable Healthcare Devices Market: 2021 Global Analysis by Type, Application (Fitness, RPM), Product, Grade, Channel and Top Companies - Biotelemetry Inc.(US), Apple, Inc. (US), Dexcom Inc. (US), Abbott Laboratories(US), Masimo Corporation(US)

This Wearable Healthcare Devices Market report works as an established source of information to offer a telescopic view of the current market trends, situations, opportunities, and status. The report is divided into several characters which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again detailed in the Wearable Healthcare Devices Market report as required to define the topic and provide maximum information for better decision making. In addition, this market report also gives top to bottom assessment of the market with respect to income and developing business sector.

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The global wearable healthcare devices market is projected to reach USD 46.6 billion by 2025 from USD 18.4 billion in 2020, at a CAGR of 20.5% from 2020 to 2025. Wearable Healthcare Devices Market by Type (Diagnostic (ECG, Heart, Pulse, BP, Sleep), Therapeutic (Pain, Insulin)), Application (Fitness, RPM), Product (Smartwatch, Patch), Grade (Consumer, Clinical), Channel (Pharmacy, Online) – Global Forecast to 2025

The key players operating in this market include

Medtronic plc. (Ireland),
Koninklijke Philips N.V. (Netherlands),
OMRON Corporation (Japan),
Biotelemetry Inc.(US),
Apple, Inc. (US),
Dexcom Inc. (US),
Abbott Laboratories(US),
Masimo Corporation(US),
GE Healthcare(US),
Bio-Beat Technologies (Israel),
iRhythm Technologies, Inc. (US),
VitalConnect (US),
Minttihealth (US),
Preventice Solutions, Inc. (US),
CONTEC Medical Systems Co. Ltd (China),
Biotricity Inc.(US),
Verily Life Sciences.(US),
Cyrcadia Asia Limited (Hong Kong ),
ten3T healthcare (India),
Fitbit, Inc. (US) ,
Garmin Ltd (Switzerland),
Xiaomi Technologies (China),
and Huawei Corporation (China).

Product launches & approval, expansions, collaborations, agreements, partnerships, and acquisitions are the key growth strategies followed by most players in this market.

Research Coverage

This report studies the wearable healthcare devices market based on the device type, application, product, grade type, distribution channel, and region. The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro-markets with respect to their growth trends, prospects, and contributions to the total wearable healthcare devices market. The report forecasts the revenue of the market segments with respect to five major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the wearable healthcare devices offered by the key 20 players in the wearable healthcare devices market. The report analyzes the wearable healthcare devices market by device type, application, product, grade type, distribution channel, and region.

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various wearable healthcare devices, their adoption, type of applications across key geographic regions.

Market Diversification: Exhaustive information about new product launches & approvals, untapped geographies, recent developments, and investments in the wearable healthcare devices market

Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the wearable healthcare devices market along with a competitive leadership mapping of up to 25 players in the market.

The growth of the industry is driven primarily by factors such as increasing awareness of fitness and healthy lifestyles, development of technologically advanced products, growing geriatric population and subsequent increase in the incidence of chronic diseases, cost-containment in healthcare delivery, robust penetration of 3G and 4G networks for uninterrupted healthcare services, increasing penetration of smartphones and the growing number of smart-phone based healthcare apps and growing preference for wireless connectivity among healthcare providers. However, patent protection of wearable healthcare devices, limited battery life and device design complexity may restrict the growth of this market to a certain extent.

“The general health and fitness segment is expected to grow at the fastest growth rate during the forecast period”

Based on applications, the wearable healthcare devices market is segmented into general health and fitness, remote patient monitoring, and home healthcare. In 2019, the general health and fitness segment accounted for the largest share of the market. This general health and fitness segment is expected to be the largest and fastest market segment in 2019. The large share of this segment can be attributed to the increasing focus on physical fitness among people to improve their quality of life, coupled with the growing trend of tracking health progress on a continuous basis.

“Pharmacies segment is estimated to account for the largest share of the wearable healthcare devices market in 2020”

Based on the distribution channel, the wearable healthcare devices market is segmented into pharmacies, online channels, and hypermarkets. In 2019, the pharmacies segment accounted for the largest share of the market with the highest growth rate as well. The market is mainly driven by the increasing trend of self-monitoring and non-invasive monitoring and diagnosis have resulted in a substantial increase in the supply of wearable devices in pharmacies. This is driving the uptake of wearable devices among customers, as they have easy access to various wearable devices offered by a number of companies. Furthermore, pharmacies are widely perceived to sell authentic and reliable products, which has greatly driven consumer preference for this distribution channel. However, online channels are expected to grow at the highest rate during the forecast period, due to the increasing use of smartphones, a large number of online buying apps, and the wide spectrum of devices available online, among other factors.

“Consumer-grade wearable healthcare devices segment is expected to dominate the wearable healthcare devices market during the forecast period.”

Based on grade type, the wearable healthcare devices market is segmented into consumer-grade and clinical-grade wearable healthcare devices. The consumer-grade wearable healthcare devices segment dominated the market. In 2019, the consumer-grade wearable healthcare devices segment accounted for the largest share of the wearable healthcare devices market.Factors such as the increasing trend toward self-monitoring, ease of availability of consumer-grade wearable healthcare devices, and the comparatively low cost of consumer-grade devices as compared to clinical-grade devices are the major factors responsible for the large share of the consumer-grade wearable healthcare devices segment.

“North America is expected to dominate the wearable healthcare devices market in 2020”

North America, which includes the US and Canada,is estimated to account for the largest share of the wearable healthcare devices market.The large share of this region can primarily be attributed such as the increasing penetration of smartphones, growing geriatric population and the subsequent rise in the prevalence of chronic disorders, increasing healthcare costs, growing demand for better healthcare services, government initiatives to promote digital health, the robust penetration of 3G and 4G networks, and the growing awareness of self-health management.

Breakdown of supply-side primary interviews, by company type, designation, and region:

By Company Type: Tier 1 (45%), Tier 2(30%), and Tier 3 (25%)
By Designation: C-level (45%), Director-level (30%), and Others (25%)
By Region: North America (35%), Europe (30%), Asia Pacific(25%), Latin America (5%) and Middle East & Africa (5%)

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Table of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered For The Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Approach
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown Of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation Approach
2.4 Assumptions For The Study

3 Executive Summary

4 Premium Insights
4.1 Wearable Healthcare Devices Market Overview
4.2 North America: Wearable Healthcare Devices Market, By Grade Type & Country (2020)
4.3 Wearable Healthcare Devices Market: Geographic Growth Opportunities

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Awareness Of Fitness And Healthy Lifestyles
5.2.1.2 Development Of Technologically Advanced Products
5.2.1.3 Growing Geriatric Population And The Subsequent Increase In The Incidence Of Chronic Diseases
5.2.1.4 Cost-Containment In Healthcare Delivery
5.2.1.5 Robust Penetration Of 3g And 4g Networks For Uninterrupted Healthcare Services
5.2.1.6 Increasing Penetration Of Smartphones And The Growing Number Of Smartphone-Based Healthcare Apps
5.2.1.7 Growing Preference For Wireless Connectivity Among Healthcare Providers
5.2.2 Restraints
5.2.2.1 Unfavorable Standards And Regulations
5.2.2.2 Accuracy, Standardization, And Analysis Of Wearable-Generated Data
5.2.2.3 Data Security Issues
5.2.3 Opportunities
5.2.3.1 Growing Adoption Of Mobile Platforms
5.2.3.2 Increasing Adoption Of Ai And 5g
5.2.3.3 Growing Awareness And Preference For Home Healthcare
5.2.4 Challenges
5.2.4.1 Patent Protection Of Wearable Healthcare Devices
5.2.4.2 Limited Battery Life
5.2.4.3 Device Design Complexity

6 Wearable Healthcare Devices Market, By Device Type
6.1 Introduction
6.2 Diagnostic & Monitoring Devices
6.2.1 Vital Sign Monitoring Devices
6.2.1.1 Multiparameter Trackers
6.2.1.1.1 Versatile Functionalities Offered By Multiparameter Trackers Driving Their Demand
6.2.1.2 Ecg/Heart Rate Monitors
6.2.1.2.1 Ability To Continuously Monitor Critical Cardiac Parameters To Drive The Demand For Ecg/Heart Rate Monitors
6.2.1.3 Blood Pressure Monitors
6.2.1.3.1 Rising Incidence Of Hypertension To Drive The Growth Of This Market Segment
6.2.1.4 Pulse Oximeters
6.2.1.4.1 Continuous Monitoring Of Oxygenation Levels Is Of Critical Importance In Hospitals And Other Critical Care Settings
6.2.2 Glucose Monitoring Devices
6.2.2.1 Increasing Incidence Of Diabetes To Drive The Growth Of This Market Segment
6.2.3 Sleep Monitoring Devices
6.2.3.1 Continuous Monitoring Of Sleep Patterns Helps Identify The Root Cause Of Sleep-Related Disorders
6.2.4 Fetal Monitoring & Obstetric Devices
6.2.4.1 Rising Focus On Better Care & Monitoring During Pregnancy To Drive The Growth Of This Market Segment
6.2.5 Neuromonitoring Devices
6.2.5.1 Major Advantages Of These Devices Such As Enhanced Portability And Ease Of Use To Drive Market Growth
6.3 Therapeutic Devices
6.3.1 Pain Management Devices
6.3.1.1 Rising Incidence Of Chronic Pain To Drive The Demand For Pain Management Devices
6.3.2 Rehabilitation Devices
6.3.2.1 Rising Need For Easy And Home Rehabilitation Of Patients To Support The Growth Of This Market Segment
6.3.3 Respiratory Therapy Devices
6.3.3.1 Increasing Incidence Of Copd To Drive The Demand For Respiratory Therapy Devices
6.3.4 Insulin Pumps
6.3.4.1 Growing Need For Self-Monitoring And The Delivery Of Insulin To Support The Growth Of This Market Segment

7 Wearable Healthcare Devices Market, By Product
7.1 Introduction
7.2 Activity Monitors/Trackers
7.2.1 Growing Health Concerns With Rising Incidence Of Lifestyle Diseases To Drive The Growth Of This Market Segment
7.3 Smartwatches
7.3.1 Multifunction Abilities And Ease Of Use With Good Data Connectivity And Display To Boost Demand For Smartwatches
7.4 Patches
7.4.1 High Accuracy Level Of These Devices To Drive Demand
7.5 Smart Clothing
7.5.1 Hybrid Combination Of Clothing With Advanced Functionalities To Fuel The Growth Of This Market Segment

8 Wearable Healthcare Devices Market, By Grade Type
8.1 Introduction
8.2 Consumer-Grade Wearable Healthcare Devices
8.2.1 Ease Of Availability And Low Cost Of Devices To Support The Growth Of This Market Segment
8.3 Clinical-Grade Wearable Healthcare Devices
8.3.1 High Accuracy With Increased Clinical Use To Drive The Demand For Clinical-Grade Wearable Healthcare Devices

9 Wearable Healthcare Devices Market, By Application
9.1 Introduction
9.2 General Health And Fitness
9.2.1 High Focus Of Common Population On Monitoring Health And Fitness Will Boost Growth
9.3 Remote Patient Monitoring
9.3.1 Advantages Such As Ease Of Sharing Data Records And Cost Savings To Drive The Demand For These Devices
9.4 Home Healthcare
9.4.1 Reduced Cost And Continuous Monitoring Of Vital Information In Home Settings To Boost Growth

10 Wearable Healthcare Devices Market, By Distribution Channel
10.1 Introduction
10.2 Pharmacies
10.2.1 Pharmacies Are Widely Preferred By Both Manufacturers And Consumers
10.3 Online Channels
10.3.1 Ease Of Use And High Levels Of Convenience Have Made Online Sales A Prominent Part Of Distribution
10.4 Hypermarkets
10.4.1 Rising Preference For Online Purchasing Is Reducing Consumer Preference For Hypermarkets

11 Wearable Healthcare Devices Market, By Region
11.1 Introduction
11.2 North America
11.2.1 Us
11.2.1.1 High Awareness Of Self-Monitoring Among The Population To Drive Market Growth
11.2.2 Canada
11.2.2.1 Increasing Number Of Start-Ups Investing In Wearable Device-Related Research To Fuel Market Growth In Canada
11.3 Europe
11.3.1 Germany
11.3.1.1 Growing Preference For Home Monitoring To Boost Market Growth In Germany
11.3.2 Uk
11.3.2.1 Increasing Incidence Of Chronic Diseases To Drive Market Growth In The Uk
11.3.3 France
11.3.3.1 Growing Geriatric Population To Drive The Demand For Vital Sign Monitoring Devices In France
11.3.4 Italy
11.3.4.1 Growing Adoption Of Mobile Devices Among Healthcare Professionals To Support Market Growth In Italy
11.3.5 Spain
11.3.5.1 Initiatives To Promote Mhealth Solutions To Support Market Growth In Spain
11.3.6 Rest Of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.1.1 Growing Geriatric Population And Rising Focus On Home Monitoring To Drive Growth In This Market
11.4.2 China
11.4.2.1 Presence Of A Large Number Of Wearable Healthcare Device Manufacturers To Propel Market Growth
11.4.3 India
11.4.3.1 Rising Disposable Income Levels Are Enhancing Consumer Access To Advanced Medical Technologies
11.4.4 Australia & New Zealand
11.4.4.1 Growing Digitalization And Increasing Preference For Home Monitoring To Boost Growth
11.4.5 Rest Of Asia Pacific
11.5 Latin America
11.5.1 Effective Implementation Of Mobility Health Devices To Reduce Total Healthcare Expenditure Will Fuel Growth
11.6 Middle East & Africa
11.6.1 Growing Adoption Of Disruptive Solutions Will Boost The Demand For Wearable Healthcare Devices In This Region

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Leadership Mapping, 2019
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Emerging Companies
12.3.4 Dynamic Differentiators
12.4 Competitive Situation And Trends
12.4.1 Product Launches & Enhancements
12.4.2 Partnerships & Collaborations
12.4.3 Acquisitions

13 Company Profiles
13.1 Apple, Inc.
(Business Overview, Products Offered, Recent Developments, And Mnm View)*
13.2 Fitbit, Inc.
13.3 Omron Healthcare Co., Ltd. (A Part Of Omron Corporation)
13.4 Garmin Ltd.
13.5 Koninklijke Philips N.V.
13.6 Medtronic Plc
13.7 Ge Healthcare
13.8 Biotelemetry, Inc.
13.9 Dexcom, Inc.
13.10 Abbott Laboratories
13.11 Masimo Corporation
13.12 Vitalconnect
13.13 Medibiosense Ltd.
13.14 Minttihealth
13.15 Preventice Solutions, Inc
13.16 Contec Medical Systems Co. Ltd
13.17 Bio-Beat
13.18 Ihealth Lab, Inc. (A Part Of Andon Health Co., Ltd.)
13.19 Cyrcadia Health, Inc.
13.20 Biotricity Inc.
13.21 Ten3t Healthcare
13.22 Verily Life Sciences. (A Part Of Alphabet Inc.)
*Details On Business Overview, Products Offered, Recent Developments, And Mnm View Might Not Be Captured In Case Of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

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