Wellesley, Mass., July 11, 2017 (GLOBE NEWSWIRE) -- Self-monitoring is a new trend in personal health where individuals use electronic devices and software technologies to collect, process and display a wide range of personal data to help them monitor and manage their personal health. Although the market is in a relatively early stage, a new report from BCC Research entitled, Health Self-Monitoring: Technologies and Global Markets, finds the global market for health self-monitoring technologies is projected to exceed $20.7 billion in 2017 and approach $71.9 billion by 2022, with a compound annual growth rate (CAGR) of 28.3% between 2017 and 2022.
Quick Links:
- Report overview, Health Self-monitoring: Technologies and Global Markets
- Check out our complementary research topics: Wearable computing, Telemedicine, Patient Monitoring and Healthcare
- To speak with the analyst, editors and reporters should contact Steve Cummings at press@bccresearch.com.
Self-Monitoring Apps Have Broad Appeal:
The new research from BCC analyzes the market for mobile digital technologies that generate health-related data for personal consumption including wristbands, smartwatches, self-monitoring applications, smartphones as well as health self-monitoring platforms developed by Google, Samsung, Apple and Microsoft. While self-tracking technologies have many applications including fitness, wellness and prevention; fertility and reproductive health; chronic disease management; post-acute care and rehabilitation; aging at home; and mental health, developers of such devices and software need to factor in evolving regulatory approvals, consumer privacy, and liability issues as they create new tools and technologies. Additional key industry players in this report include Fitbit, Garmin, Lumo Body Tech, Mayo Clinic, Ovia Health, and STBL Medical Research as well as profiles of more than 50 additional companies.
Research Highlights:
- The health self-monitoring market is dominated by the U.S., which accounted for approximately 45% of global sales in 2016, however non-U.S. markets are growing faster and are expected to account for two-thirds of the global market by 2022.
- The most common form of self-monitoring device is the wristband monitor accounting for 43.2% (57) of the devices surveyed in 2017, followed by smartwatches with 24.2% (32 devices). Weight scales, the third most common form factor, accounted for only 8.3% (11 devices).
- Patient activation, an individual’s ability and willingness to manage their health and healthcare, is highest in the 45 to 64 age range citing 44.6% as high-activation individuals.
- BCC Research estimates total download revenues from health and fitness self-monitoring apps will grow from $306 million in 2016 and $373 million in 2017 to just over $1 billion in 2022.
“The growing use of self-tracking, facilitated by recent advances in technology, has generated a large and diverse market for mobile digital technologies and applications,” said Andrew McWilliams, report analyst. “Our research found that the demand for health self-monitoring technologies will be shaped by a complex market environment that includes demographic and socioeconomic trends, increasing chronic illness, technology developments, accelerating health costs, regulatory reforms, and changes in the structure of the healthcare industry. In the future, new advancements will expand the range of physiological variables that can be self-monitored and enhance the usefulness of the data collected.”
How to use this report:
- For business development professionals: Leverage industry projections to gauge market opportunities and potential partner relationships across a wide range of organizations.
- For marketing teams: Augment competitive research of nearly 55 companies.
- For investors: Garner detail on technologies, product development, growth and potential of a diverse and broad market.
Journalists who wish to speak with the author of this report should contact press@bccresearch.com. Qualified members of the press can also request permission to BCC Research library.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.