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Wearable Healthcare Devices Market size was valued at USD 23.83 Bn. in 2022 and the total Wearable Healthcare Devices revenue is expected to grow at a CAGR of 20.2% from 2023 to 2029, reaching nearly USD 86.42 Bn.
Wearable Healthcare Devices Market Overview:
A competitor’s information is separated by the Wearable Healthcare Devices market Size competitive landscape. A company overview, financials, revenue generated, market potential, investment in R&D, new market efforts, geographical presence, business strengths and weaknesses, product introduction, product width and breadth, and application domination are all included in the data. The accompanying information is only relevant to the organisations’ focus on the Wearable Healthcare Devices market share.
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Market Scope:
This Wearable Healthcare Devices market research report discusses the most recent developments, trade restrictions, import-export analysis, production analysis, value chain optimisation, market share, the impact of domestic and localised market players, and other subjects.
Segmentation:
by Product
1. Trackers
2. Smartwatches
3. Patches
4. Smart Clothing
Based on the Product, the Trackers segment held the largest share of about 38% and dominated the Wearable Healthcare Devices market in 2022. This segment is expected to maintain its dominance at the end of the forecast period. Smartphone adoption and the rising number of smartphone-based medical devices are driving the segment’s growth. Wearable trackers, in conjunction with smartphones, can help motivate during workouts and give information about daily routines or fitness without requiring potentially disruptive human computations or recordings. As a result, the demand for Trackers is growing substantially, driving the Wearable Healthcare Devices industry throughout the forecast period.
by Device Type
1. Diagnostic and Monitoring Devices
2. Multiparameter Tracker
3. ECG\Heart Rate Monitors
4. Pulse Oximeters
Based on Device Type, the Diagnostic and Monitoring devices segment dominated the wearable medical devices market with the largest share of about 42% in 2022. This segment is also expected to witness the highest CAGR of about 10.3% during the forecast period. The increasing frequency of neurological and nephrological illnesses is the primary factor influencing the segment’s growth. According to the 2021 survey, migraine was the most common neurological illness in the United States. In the United States, 92.5% of individuals suffer from migraines.
by Grade Type
1. Traditional Diagnostic Devices
2. Consumer-Grade Wearable Healthcare Devices
3. Clinical-Grade Wearable Healthcare Devices
Based on Grade Type, the Traditional Diagnostic segment is expected to grow significantly during the forecast period. The traditional diagnostic device segment is expected to grow at a faster pace throughout the forecast period due to the growing demand for traditional diagnostic devices across the globe. Likewise, the wearable healthcare devices market is expected to grow due to a diverse array of medical equipment such as intelligent asthma action goods, smart pain reliever gadgets, and insulin management devices. Monitoring devices include pain management devices, glucose monitoring devices, recuperation devices, and respiratory treatment equipment. Because of the huge number of diabetics, the insulin monitoring device sub-segment was dominant in 2022 and is expected to remain dominant during the forecast period.
by Application
1. General Health and Fitness
2. Remote Patient Monitoring
3. Home Healthcare
Based on Application, the home healthcare segment dominated the market for wearable medical devices, accounting for the largest revenue share of 54.5% in 2022, owing to the growing geriatric population triggering prevalence rates of target diseases and the growing need to reduce healthcare expenditure as an economically viable initiative, among other factors driving the market growth. The remote patient monitoring sector is expected to grow at the highest rate over the forecast period. Globally increasing elderly populations and rising chronic disease occurrences are expected to have a substantial influence on the growth of remote patient monitoring gadgets throughout the forecast period.
- Global Wearable Healthcare Devices Market: Research Methodology
- Global Wearable Healthcare Devices Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Wearable Healthcare Devices Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Wearable Healthcare Devices Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Wearable Healthcare Devices Market Segmentation
- Global Wearable Healthcare Devices Market, by Type (2023-2029)
- Global Wearable Healthcare Devices Market, by Product (2023-2029)
- Global Wearable Healthcare Devices Market, by Application (2023-2029)
- Global Wearable Healthcare Devices Market, by End-User (2023-2029)
- Regional Wearable Healthcare Devices Market(2023-2029)
- Regional Wearable Healthcare Devices Market, by Type (2023-2029)
- Regional Wearable Healthcare Devices Market, by Product (2023-2029)
- Regional Wearable Healthcare Devices Market, by Application (2023-2029)
- Regional Wearable Healthcare Devices Market, by End-User (2023-2029)
- Regional Wearable Healthcare Devices Market, by Country (2023-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Players:
1. Koninklijke Philips N.V. (Netherlands)
2. Apple Inc. (US)
3. GE Healthcare (US)
4. Fitbit Inc. (US)
5. Abbott Laboratories (US)
6. OMRON Corporation (Japan)
7. Garmin Ltd. (US),
8. Dexcom Inc. (US)
9. Masimo Corporation (US)
10. Medtronic PLC (Ireland)
11. Bio Telemetry Inc. (US)
12. Preventice Solutions Inc. (US)
13. iRhythm Technologies Inc. (US)
14. Contec Medical Systems Co. Ltd. (China)
15. MediBioSense Ltd. (UK)
16. VitalConnect (US)
17. Cyrcadia Health Inc. (US)
18. Ten3T Healthcare (India)
19. Verily Life Sciences (US)
20. MinttiHealth (China)
21. Bio-Beat (Israel)
22. Biotricity Inc. (US)
23. iHealth Lab Inc. (US)
24. Vivalink (US)
25. Gentag (US)
Regional Analysis:
Individual market influencing variables and changes in market rules that affect present and future market trends are also included in the geographical component of the research. Only a few of the indicators utilised to estimate the market scenario for various countries are value chain analysis, technology trends, porter’s five forces analysis, pestle analysis, and case studies.
COVID-19 Impact Analysis on Wearable Healthcare Devices Market: The impact of the COVID-19 pandemic on the Wearable Healthcare Devices market Growth has also been included in the research.
Key Questions Answered in the Wearable Healthcare Devices Market Report are:
- Which segment grabbed the largest share in the Wearable Healthcare Devices market in 2023?
- How is the competitive landscape of the Wearable Healthcare Devices market?
- Which are the key factors aiding the Wearable Healthcare Devices market growth in the forecast period (2023-2029)?
- Which region held the maximum share in the Wearable Healthcare Devices market in 2023?
- What will be the CAGR of the Wearable Healthcare Devices market during the forecast period (2023-2029)?
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