Global Medical Wearable
Market Report
2024
The Global Medical Wearable market size is valued at USD 28.2 billion in 2022 and projected to be 200.1 billion in 2030 with a Compound Annual Growth Rate of 9.1% for the forecast period.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, The Global Medical Wearable market size is valued at USD 28.2 billion in 2022 and projected to be 200.1 billion in 2030 with a Compound Annual Growth Rate of 9.1% for the forecast period.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Medical Wearable Market Sales Revenue 2022 | $ 28.2 Billion |
Global Medical Wearable Market Sales Revenue 2030 | $ 200.1 Billion |
Global Medical Wearable Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.1% |
Market Split by Type |
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Market Split by Product Type |
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Market Split by Distribution channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Medical Wearable industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Medical Wearable Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Medical wearables are the electronic devices that are used to monitor the health status of a user. This device is used to monitor health, exercise and also provide health information to doctors. The most advanced wearable technology comprises holographic computers in the form of virtual reality (VR) headsets, Google Glass, Microsoft's HoloLens, and artificial intelligence (AI) hearing aids. The goal of wearable technology is to have an impact in a number of different industries, including health and medicine, fitness, ageing, handicap, education, transportation, business, finance, gaming, and music. Growing awareness about medical wearable and incresing in chronic disease boost the Medical Wearable market growth.
It is one of the most important drivers that contributes to the growth of the market. Increasing sedentary lifestyle among people, that have led to chronic diseases like diabetes, hypertension, cardiac disorder. This helps to improve the condition of life and manage the patient's condition. Therefore the lifestyle related disorder and chronic disease have led to the growth of the Medical Wearable market.
It’s the major driver of the market, in recent years the fitness and healthcare facilities awareness among the people has increased tremendously, which results in growing demand for medical wearables. And also, the market for medical wearables is expanding as a result of the rising popularity of smartwatches and fitness trackers. These gadgets can monitor sleep patterns, track physical activity, and provide alarms when it's time to take medication. The above mentioned factors contribute to the Medical Wearable market expansion.
Despite substantial advancements in wearable medical device technologies and designs, some limitations prevent widespread use of these devices. One of them is the high cost of devices. Batteries, processors, sensors, and other accessories are frequently present with these devices and require regular replacement. As the cost of these accessories is taken into account along with the lifespan of the equipment, the cost of ownership is significantly greater. The above mentioned factors restrain the market growth. Health monitoring has become an important method for the healthcare provider and Medical wearable is convenient to use for health monitoring this may result in growing demand for medical wearables.
By monitoring vital risk factors like blood pressure and glucose, Remote Patient Monitoring (RPM) may enhance the management of chronic illnesses. RPM offers hospitals and end users a number of benefits, including a decrease in lengthy hospital stays, cheap healthcare costs, and fewer doctor visits. Additionally, doing so can assist in reducing the expense of treating chronic diseases. It is projected that the market expansion of this sector would be further supported by the rise in initiatives from the major market players to introduce their cutting-edge remote patient monitoring devices in the market. As a result of the aforementioned factors, it is predicted that this market sector will expand over the coming years.
The covid-19 had a positive impact on the Medical Wearable market. By using wearable technology, COVID-19 has advanced the integration of health and fitness apps into conventional healthcare. Forced lockdowns and remote work have raised consumer awareness of personal health and wellness, and wearable medical technology is assisting people in taking infection-prevention measures. The covid-19 impact had increased the medical wearable market growth.
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OMRON healthcare, a company that specializes in health monitoring and therapy have developed a single lead electrocardiogram and blood pressure monitor that can be easily used at home to monitor blood pressure.
The Samsung Health Monitor app will soon be accessible in more than 31 nations, claims Samsung. Users may keep an eye on their ECG and blood pressure with the Samsung Watch3 and Watch Active2. Users can be informed about their health whenever it's convenient for them by using the app on both iOS and Android handsets.
Lingo, a unique category of wearable technology that can track alcohol, lactate, glucose, and ketones, was unveiled by Abbott Laboratories. Additionally, this little detector is not meant for use by diabetics and is not yet offered for sale.
The NoiseFit Buzz, Noise's newest wearable, will be available in April 2022. The NoiseFit Buzz's health-related features include 24-hour heart rate monitoring and Sp02 blood oxygen monitoring. The gadget has features designed for female health monitoring as well as sleep monitoring capabilities. Up to nine different sports modes, such as cycling, treadmill running, yoga, walking, spinning, climbing, fitness, and hiking can be tracked by the wearable.
Top Companies Market Share in Medical Wearable Industry: (In no particular order of Rank)
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Due to its high healthcare spending and abundance of healthcare professionals, North America has the greatest market for medical wearables. The region has a solid regulatory environment and well-established healthcare infrastructure, which encourages the use of medical wearables. As a result, the medical wearable market in the region has the highest share.
Europe has a big ageing population and a high incidence of chronic diseases, & growing importance of medical wearable devices in Europe. Additionally, the area has a strong healthcare infrastructure and enables government regulations. Therefore the above mentioned factor influences the medical wearable market in europe.
The current report Scope analyzes Medical Wearable Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Medical Wearable Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Medical Wearable Industry growth. Medical Wearable market has been segmented with the help of its Type, Product Type Distribution channel, and others. Medical Wearable market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Type medical wearable market segments are home healthcare, remote patient monitoring, and health and fitness. The general fitness and health sector dominates the market for wearable medical devices in 2020. The growing emphasis on health and fitness is a high-impact driver for the industry. For the control of weight and fitness, a wide range of wearable medical technologies and software has been created. The majority of the time, wristbands are linked to mobile devices, which show real-time tracking of activities like steps taken, calories burned, calories ingested, miles done, and others. The rapid expansion of this market sector is being driven by the widespread adoption of 3G as well as 4G networks for continuing healthcare services.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Medical Wearable Industry. Request a Free Sample PDF!
The Medical wearable market is divided into watches, trackers, wristbands, ear wear, smart clothing, and others based on product type. Due to increased smartphone adoption and the rising number of smartphone-based medical devices, the tracker sector made up the highest share of the wearable medical devices market.
Watch
Tracker
Wristband
Smart clothing
Other
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Medical Wearable market report 2024 Edition by contacting our team.
The wearable market is divided into pharmacies, hypermarkets and online channels based on the distribution channel. The Wearable Medical Devices Market has the largest share belonging to the pharmacy sector. The frequency of chronic diseases is rising, along with the ageing population, which is fuelling medical wearable market growth.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Medical Wearable Market is witnessing significant growth in the near future.
In 2023, the Sports and fitness Medical Wearable segment accounted for noticeable share of global Medical Wearable Market and is projected to experience significant growth in the near future.
The Watch segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Fitbit , Zephyr Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Sports and fitness Medical Wearable, Home healthcare Medical Wearable, Remote patient monitoring Medical Wearable |
Product Type | Watch, Tracker, Wristband, Smart clothing, Other |
Distribution channel | Hypermarket, Online channel, Pharmacies |
List of Competitors | Fitbit, Vital connect, Zephyr Corporation, Omron corporation, Polar Electr, Nuubo, Bio-Beat, Cyrcadia health, Minttihealth, Garmin Ltd, Ten3t healthcare |
This chapter will help you gain GLOBAL Market Analysis of Medical Wearable. Further deep in this chapter, you will be able to review Global Medical Wearable Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Medical Wearable Market Trends North America Medical Wearable Technological Road Map North America Medical Wearable Market Drivers North America Medical Wearable Market Restraints North America Medical Wearable Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Product Type Analysis 2019 -2031
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Chapter 12 Market Split by Distribution channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Medical Wearable market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Sports and fitness Medical Wearable have a significant impact on Medical Wearable market? |
What are the key factors affecting the Sports and fitness Medical Wearable and Home healthcare Medical Wearable of Medical Wearable Market? |
What is the CAGR/Growth Rate of Watch during the forecast period? |
By type, which segment accounted for largest share of the global Medical Wearable Market? |
Which region is expected to dominate the global Medical Wearable Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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