Chicago, Oct. 27, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Wearable Healthcare Devices Market by Product(Trackers, Smartwatch), Type(Diagnostic(BP, Glucose, ECG), Therapeutic(Pain, Insulin)), Grade(Consumer, Clinical), Channel(Pharmacies, E-commerce), Application(Fitness, RPM), & Region - Global Forecast to 2026", the global wearable healthcare devices market is projected to reach USD 30.1 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 13.2%.
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223 - Tables
43 - Figures
250 - Pages
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Scope of the Report:
| Report Coverage | Details |
| Market Size | USD 30.1 billion by 2026 |
| CAGR | 13.2% |
| Historical Data | 2019-2026 |
| Base Year | 2020 |
| Forecast Period | 2021-2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By Device Type, By Grade Type, By Distribution Channel, By Application, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Key Companies Profiled/Vendors | Koninklijke Philips N.V. (Netherlands), Apple Inc. (US), GE Healthcare (US), Fitbit Inc. (US), Abbott Laboratories (US), OMRON Corporation (Japan), Garmin Ltd. (US), Dexcom Inc. (US), Masimo Corporation (US), Medtronic PLC (Ireland), BioTelemetry Inc. (US), Preventice Solutions Inc. (US), iRhythm Technologies Inc. (US), Contec Medical Systems Co. Ltd. (China), MediBioSense Ltd. (UK), VitalConnect (US), Cyrcadia Health Inc. (US), Ten3T Healthcare (India), Verily Life Sciences (US), MinttiHealth (China), Bio-Beat (Israel), Biotricity Inc. (US), iHealth Lab Inc. (US), Vivalink (US), Gentag (US). |
| Key Market Opportunities | Increasing adoption of artificial intelligence and 5G |
| Key Market Drivers | Increasing awareness of fitness, lifestyle, and home healthcare |
Increasing awareness of fitness, lifestyle, and home healthcare, development of technologically advanced products and growing geriatric population and subsequent increase in the incidence of chronic diseases are the major factors driving the wearable healthcare devices market’s growth.
Based on products, the wearable healthcare devices market is segmented into trackers, smartwatches, patches and smart clothing. In 2020, the trackers segment accounted for the largest share of the wearable healthcare devices market, mainly due to Growing geriatric population and subsequent increase in the incidence of chronic diseases and growing investments, funds, and grants.
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Based on device type, the wearable healthcare devices market is segmented into diagnostic and monitoring devices (vital sign monitoring devices (multiparameter tracker, ECG\heart rate monitors, blood pressure monitors, pulse oximeter), glucose monitoring devices, sleep monitoring devices (wrist actigraphs, polysomnography devices), fetal monitoring devices, neuromonitoring devices and other diagnostic and monitoring devices) and therapeutic devices (pain management devices, rehabilitation devices, respiratory therapy devices and insulin pumps). In 2020, the diagnostic and monitoring devices segment accounted for the largest share of the wearable healthcare devices market. The large share of this segment can mainly be attributed to the robust penetration of 3G and 4G networks for uninterrupted healthcare services and growing preference for wireless connectivity among healthcare providers.
Based on grade type, the wearable healthcare devices market has been segmented into consumer grade wearable healthcare devices and clinical grade healthcare devices. In 2020, the consumer grade healthcare devices segment accounted for the largest share of the wearable healthcare devices market, mainly due to the increasing penetration of smartphones and the growing number of smartphone-based healthcare devices.
Based on distribution channel, the wearable healthcare devices market has been segmented into pharmacies, online channel and hypermarkets. In 2020, the pharmacies segment accounted for the largest share of the wearable healthcare devices market, mainly due to the growing preference for wireless connectivity among healthcare providers and growing investments, funds, and grants.
Based on application, the wearable healthcare devices market has been segmented into general health and fitness, remote patient monitoring and home healthcare. In 2020, the general health and fitness segment accounted for the largest share of the wearable healthcare devices market, mainly due to the increasing awareness of fitness, lifestyle, and home healthcare and growing geriatric population and subsequent increase in the incidence of chronic diseases.
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Geographical Growth Scenario:
The global wearable healthcare devices market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest regional market for wearable healthcare devices market in 2020. The large share of North America in this market can be attributed to the robust penetration of 3G and 4G networks for uninterrupted healthcare services and growing investments, funds, and grants.
Key Players:
The major players operating in this market are Koninklijke Philips N.V. (Netherlands), Apple Inc. (US), GE Healthcare (US), Fitbit Inc. (US), Abbott Laboratories (US), OMRON Corporation (Japan), Garmin Ltd. (US), Dexcom Inc. (US), Masimo Corporation (US), Medtronic PLC (Ireland), BioTelemetry Inc. (US), Preventice Solutions Inc. (US), iRhythm Technologies Inc. (US), Contec Medical Systems Co. Ltd. (China), MediBioSense Ltd. (UK), VitalConnect (US), Cyrcadia Health Inc. (US), Ten3T Healthcare (India), Verily Life Sciences (US), MinttiHealth (China), Bio-Beat (Israel), Biotricity Inc. (US), iHealth Lab Inc. (US), Vivalink (US), Gentag (US).
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