Dublin, Nov. 28, 2019 (GLOBE NEWSWIRE) -- The "Global Body Area Network Market (2019-2025)" report has been added to ResearchAndMarkets.com's offering.

The Global Body Area Network Market size is expected to reach $17 billion by 2025, rising at a market growth of 11.6% CAGR during the forecast period.

A wide range of factors are contributing towards the growth of the market. Some of these are, increased utilization smart devices for tracking physical fitness and its availability at low cost, rapid advances in medical devices and communication technologies, supporting government and hospital programs to facilitate digital healthcare.

The impact of technologies on recent advances in the healthcare industry has laid the foundation for stake holders in the market of body area network. However, threats from cyber-attacks and unethical hacking have also arisen. Major vendors are constantly chasing for the protection of wearable devices connected through body area networks from hackers who have access to the biological information of patients.

Healthcare monitoring for the geriatric population of several regions represents a significant piece of the puzzle. This is prominent in the countries where the existence of clinicians is the basic capacity restraint of the healthcare system. The healthcare demand is being met by these systems that are continuously monitoring the condition of elderly patients and sharing the information with remote care providers. This is in fact true in situation where healthcare and elder care providers struggle to assist senior citizens with chronic conditions to live independently for as long as possible.

The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Samsung Electronics Co., Ltd. and Apple, Inc. are some of the forerunners in the Body Area Network Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Samsung Electronics Co., Ltd., LG Corporation (LG Electronics), Medtronic PLC, Abbott Laboratories, Casio Computer Co., Ltd., Huawei Technologies Co., Ltd., Xiaomi Corporation, Fossil Group, Inc., Garmin Ltd. and Fitbit, Inc.

The market players are adopting progressive strategies to leverage the opportunities of the market. Companies are focusing on innovative strategies to compete in the market space. For instance, in Sept 2019, Apple introduced Research app in its Watch Series 5 with the plans to oversee three medical studies such as hearing health, women's health in relation to menstrual cycles and reproduction, and heart health and mobility which focuses on women health. The same month, Abbott (US) teamed up with Sanofi for developing tools that combines their respective blood sugar tracking and insulin delivery technologies in order to help people monitoring their health.

Recent Strategies Deployed in Body Area Network Market

Acquisition & Mergers

  • Jul-2019: Apple acquired Intel's Smartphone modem unit in order to supply its own smartphone chips.
  • Oct-2017: Garmin took over Navionics S.p.A. for developing electronic navigational products and mobile applications.
  • Feb-2016: Abbott acquired Kalila Medical Inc. for the development of cardiac electrophysiology procedures for the treatment of heart rhythm disorders.

Product Launches

  • Sep-2019: Apple has introduced Research app in its Watch Series 5 with the plans to oversee three medical studies such as hearing health, women's health in relation to menstrual cycles and reproduction, and heart health and mobility which focuses on women health.
  • Sep-2019: Garmin has introduced all-new GPSMAP 86 handheld series feature-packed addition to its popular marine handheld collection combined with GPS navigation with inReach satellite communication technology for offering two-way messaging and location tracking technology.
  • Sep-2019: Garmin has launched Legacy Hero Series, a collection of two special edition GPS smartwatches inspired by Captain Marvel and Captain America: The First Avenger which has advanced features of 24/7 Health Monitoring, On-screen Workouts, Fitness, etc. for smart lives.
  • Sep-2019: Garmin has released next generation of the vvomove series, the latest collection of hybrid smartwatches which has embedded features of health and fitness tracking data, and smart notifications for text messages, social media updates, calendar reminders and more.
  • Sep-2019: Garmin has announced the launch of VenuTM - a new GPS smartwatch which broadest available range of 24/7 health monitoring and a vibrant AMOLED screen.
  • Sep-2019: Garmin has launched vvoactive 4 and 4S GPS smartwatches which has the features of advanced sleep with pulse ox1, Body BatteryTM energy monitoring, abnormal heart rate alerts, new respiration tracking, menstrual cycle tracking, and stress tracking with relax reminders, new hydration tracking and more.

Collaborations, Partnerships & Agreements

  • Sep-2019: Abbott has teamed up with Sanofi for developing tools that combines their respective blood sugar tracking and insulin delivery technologies in order to help people monitoring their health.
  • Aug-2019: Fitbit collaborated with Singapore's Health Promotion Board (HPB) in which Singapore's government agency will implement the policies and programs for improving the nation's health.
  • Jun-2019: Fitbit came into partnership with Cardiogram in order to bring the health monitoring features of Cardiogram to Fitbit users around the world for improving the care management, potentially save lives and empower users.
  • Apr-2019: Fitbit signed partnership agreement with Snap in order to launch first-ever Bitmoji clock face which dynamically updates accordingly throughout the day based on the personal health and fitness data, time of the day, activity, and weather.
  • Feb-2019: Casio collaborated with ViewRanger in order to develop and bring more smartwatches in the market.
  • Feb-2019: Abbott signed partnership agreement with Novo Nordisk for making diabetes management easier by linking technologies of the two companies.

Expansions

  • Sep-2019: Apple has introduced Research app in its Watch Series 5 with the plans to oversee three medical studies such as hearing health, women's health in relation to menstrual cycles and reproduction, and heart health and mobility which focuses on women health.
  • Mar-2019: Huawei expanded its reach to Asia-Pacific by opening a smartwatch business in India focusing on developing new products at lower prices.

Scope of the Study

By Device Type

  • Wearable Devices
  • Implantable Devices

By Component

  • Application Processors & Memory Modules, and Pulse Generators
  • Communication and Interface Components
  • Sensors
  • Displays
  • Power Management Units
  • Electromechanicals
  • Others

By Application

  • Medical, Fitness, and Sports Application
  • Security
  • Military

Companies Profiled

  • Apple Inc.
  • Samsung Electronics Co. Ltd.
  • LG Corporation (LG Electronics)
  • Medtronic PLC
  • Abbott Laboratories
  • Casio Computer Co. Ltd.
  • Huawei Technologies Co. Ltd.
  • Xiaomi Corporation
  • Fossil Group Inc.
  • Garmin Ltd.
  • Fitbit Inc.

For more information about this report visit https://www.researchandmarkets.com/r/bcu4fs

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