Wearable Medical Devices Global Report 2024 - Real-time, Personalized Medicine through Medical Wearable Becomes a Reality - Forecasts to 2030


Dublin, April 11, 2024 (GLOBE NEWSWIRE) -- The "Wearable Medical Devices - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Wearable Medical Devices estimated at US$24 Billion in the year 2023, is projected to reach a revised size of US$72.2 Billion by 2030, growing at a CAGR of 14.8% over the analysis period 2023-2030.

Diagnostic Devices, one of the segments analyzed in the report, is projected to record 12.5% CAGR and reach US$38.2 Billion by the end of the analysis period. Growth in the Therapeutic Devices segment is estimated at 17.9% CAGR for the next 8-year period.

The Wearable Medical Devices market in the U.S. is estimated at US$8.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$9 Billion by the year 2030 trailing a CAGR of 18.6% over the analysis period 2023 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.4% and 14.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.

Key Market Trends & Drivers

  • Personalized Medicine Gets a Boost from the Rise of Medical Device Wearables
  • Real-time, Personalized Medicine through Medical Wearable Becomes a Reality
  • Emerging Role of Wearables in Precision Medicine
  • Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare
  • How Medical Wearables Can Reduce Healthcare Costs
  • Rise in Chronic Diseases, Increase in Demand for Medical Services, the Need for Equity in Healthcare & the Ensuing Focus on Democratizing Healthcare to Benefit Medical Wearables
  • COVID-19 Induced Consumer Engagement With Health & Wellbeing Technologies Drives Demand for Personal Health Monitoring & Fitness Wearables
  • Global Diabetes Epidemic Provides Opportunities On a Platter for Medical Wearables
  • Medical Wearables Brings the Promise of Revolutionizing the Effectiveness of Long-Term Diabetes Care & Treatment Outcomes
  • Big Data Analytics Remains Vital for Shaping the Future of Wearable Technology & Realizing Complete Benefits of Medical Wearables
  • Integrating Cloud With Medical Wearables, A Major Trend
  • AI Emerges to Revolutionize Wearable Medical Devices
  • Rapidly Aging World Population, COVID-19 Induced Re-Focus on Aging-In-Place & Rise in Demand for Remote Patient Monitoring to Benefit Growth of Medical Wearables
  • Expanding Opportunity for PERS Will Encourage Increased Use of Medical Wearables
  • The Stage is Now Set for Remote Patient Monitoring
  • Role of Wearables in Remote Patient Monitoring
  • Integration of Wearables into Telemedicine Explodes Into a Major Trend
  • Wearables Emerge Into the Spotlight as Telemedicine Gains Momentum
  • Role of Wearables in Telemedicine
  • Increasing Obesity Levels Underpins Strong Potential for Wearable Pedometers & Heart Rate Monitors
  • Wearables for Cancer Breaks the Surface
  • Here's How Wearables Will Help Revolutionize Cancer Care, Treatment & Outcomes
  • Medical Wearables Brings Massive Benefits for Clinical Trials
  • Innovations in Medical Wearables Rushes on Full-Steam to Sustain Long-Term Growth in the Market
  • Battery Power Being Vital for Wearable Technology is a Major Area Identified for Innovation & R&D
  • Privacy & Data Issues Continue to Plague the Market

The report features profiles of 130+ featured companies. A selection of companies in the report includes:

  • Apple
  • Abbott Laboratories
  • B. Braun Melsungen
  • Becton, Dickinson
  • ASUSTeK Computer
  • Beurer
  • 4iiii Innovations
  • Alive Technologies
  • BioTelemetry
  • Alphabet
  • 1byone
  • Acurable
  • Biotricity
  • Biobeat
  • Amazfit

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Digitalization of Healthcare Provides the Foundation for the Rise of Medical Wearables
  • The World Prepares for the Digital Health Revolution
  • Digitalization of Healthcare Expands to Wearable Devices: Global Opportunity for Digital Health (In US$ Billion) for Years 2021, 2023 2025 and 2027
  • Supported by the Migration to Digital Health, Healthcare IT Investments Spiral to Unprecedented Levels
  • Global Economic Outlook
  • Competition
  • Wearable Medical Devices - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Piggybacking on Healthcare Digitalization, the Wearable Healthcare Revolution Has Arrived!
  • Recent Market Activity
  • Innovations

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Real-time, Personalized Medicine through Medical Wearable Becomes a Reality: Global Opportunity for Personalized Medicine (In US$ Billion) for Years 2020, 2022 & 2024
  • Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023
  • Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Global Prevalence of Diabetes: Number of Adults (20-79 Years) Diagnosed with Diabetes (in Million) by Gender for 2019, 2030 and 2045
  • Mining Healthcare Big Data Becomes Big Businesses & Wearable Medical Devices Will Add to this Data Boom: Worldwide Digital Healthcare Data (In Exabytes) for Years 2013, 2017, 2020, and 2022
  • Rapidly Aging World Population, COVID-19 Induced Re-Focus on Aging-In-Place & Rise in Demand for Remote Patient Monitoring to Benefit Growth of Medical Wearables
  • Rapidly Aging Population & Escalation in Demand for Geriatric Healthcare Highlights the Need for Medical Emergency Wearables: Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Expanding Opportunity for PERS Will Encourage Increased Use of Medical Wearables: Global Opportunity for PERS (In US$ Million) for Years 2021, 2023 2025 and 2027
  • Aging Population, Rise of PERS & Migration of Healthcare to Alternate Sites Drive the Need for Remote Patient Monitoring Wherein Wearables Play a Major Role: Global Remote Patient Monitoring Market (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Wearables Emerge Into the Spotlight as Telemedicine Gains Momentum: Global Telemedicine Opportunity (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

  • United States
  • Canada
  • Japan
  • China
  • Europe
  • France
  • Germany
  • Italy
  • United Kingdom
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East
  • Iran
  • Israel
  • Saudi Arabia
  • United Arab Emirates
  • Rest of Middle East
  • Africa

IV. COMPETITION


For more information about this report visit https://www.researchandmarkets.com/r/11mjem

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