1. Market Research
  2. > Healthcare Market Trends
Wearable Healthcare Devices Market by Type, Application, Product, Grade, Channel - Global Forecast to 2025

Wearable Healthcare Devices Market by Type, Application, Product, Grade, Channel - Global Forecast to 2025

  • May 2020
  • 204 pages
  • ID: 4466097
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

Wearable healthcare devices market to register a CAGR of 20.5% from 2020 to 2025
The global wearable healthcare devices market is projected to reach USD 46.6 billion by 2025 from USD 18.4 billion in 2020, at a CAGR of 20.5% from 2020 to 2025. The growth of the industry is driven primarily by factors such as increasing awareness of fitness and healthy lifestyles, development of technologically advanced products, growing geriatric population and subsequent increase in the incidence of chronic diseases, cost-containment in healthcare delivery, robust penetration of 3G and 4G networks for uninterrupted healthcare services, increasing penetration of smartphones and the growing number of smart-phone based healthcare apps and growing preference for wireless connectivity among healthcare providers. However, patent protection of wearable healthcare devices, limited battery life and device design complexity may restrict the growth of this market to a certain extent.

The general health and fitness segment is expected to grow at the fastest growth rate during the forecast period
Based on applications, the wearable healthcare devices market is segmented into general health and fitness, remote patient monitoring, and home healthcare.In 2019, the general health and fitness segment accounted for the largest share of the market.

This general health and fitness segment is expected to be the largest and fastest market segment in 2019. The large share of this segment can be attributed to the increasing focus on physical fitness among people to improve their quality of life, coupled with the growing trend of tracking health progress on a continuous basis.

Pharmacies segment is estimated to account for the largest share of the wearable healthcare devices market in 2020
Based on the distribution channel, the wearable healthcare devices market is segmented into pharmacies, online channels, and hypermarkets.In 2019, the pharmacies segment accounted for the largest share of the market with the highest growth rate as well.

The market is mainly driven by the increasing trend of self-monitoring and non-invasive monitoring and diagnosis have resulted in a substantial increase in the supply of wearable devices in pharmacies.This is driving the uptake of wearable devices among customers, as they have easy access to various wearable devices offered by a number of companies.

Furthermore, pharmacies are widely perceived to sell authentic and reliable products, which has greatly driven consumer preference for this distribution channel. However, online channels are expected to grow at the highest rate during the forecast period, due to the increasing use of smartphones, a large number of online buying apps, and the wide spectrum of devices available online, among other factors.

Consumer-grade wearable healthcare devices segment is expected to dominate the wearable healthcare devices market during the forecast period.
Based on grade type, the wearable healthcare devices market is segmented into consumer-grade and clinical-grade wearable healthcare devices.The consumer-grade wearable healthcare devices segment dominated the market.

In 2019, the consumer-grade wearable healthcare devices segment accounted for the largest share of the wearable healthcare devices market. Factors such as the increasing trend toward self-monitoring, ease of availability of consumer-grade wearable healthcare devices, and the comparatively low cost of consumer-grade devices as compared to clinical-grade devices are the major factors responsible for the large share of the consumer-grade wearable healthcare devices segment.

North America is expected to dominate the wearable healthcare devices market in 2020
North America, which includes the US and Canada, is estimated to account for the largest share of the wearable healthcare devices market. The large share of this region can primarily be attributed such as the increasing penetration of smartphones, growing geriatric population and the subsequent rise in the prevalence of chronic disorders, increasing healthcare costs, growing demand for better healthcare services, government initiatives to promote digital health, the robust penetration of 3G and 4G networks, and the growing awareness of self-health management.

Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (45%) , Tier 2 (30%), and Tier 3 (25%)
• By Designation: C-level (45%), Director-level (30%), and Others (25%)
• By Region: North America (35%), Europe (30%), Asia Pacific (25%), Latin America (5%) and Middle East & Africa (5%)

The key players operating in this market include Medtronic plc. (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US), Dexcom Inc. (US), Abbott Laboratories(US), Masimo Corporation(US), GE Healthcare(US), Bio-Beat Technologies (Israel), iRhythm Technologies, Inc. (US), VitalConnect (US), Minttihealth (US), Preventice Solutions, Inc. (US), CONTEC Medical Systems Co. Ltd (China), Biotricity Inc.(US), Verily Life Sciences.(US), Cyrcadia Asia Limited (Hong Kong ), ten3T healthcare (India), Fitbit, Inc. (US) , Garmin Ltd (Switzerland), Xiaomi Technologies (China), and Huawei Corporation (China). Product launches & approval, expansions, collaborations, agreements, partnerships, and acquisitions are the key growth strategies followed by most players in this market.

Research Coverage
This report studies the wearable healthcare devices market based on the device type, application, product, grade type, distribution channel, and region.The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.

It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micro-markets with respect to their growth trends, prospects, and contributions to the total wearable healthcare devices market.

The report forecasts the revenue of the market segments with respect to five major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the wearable healthcare devices offered by the key 20 players in the wearable healthcare devices market. The report analyzes the wearable healthcare devices market by device type, application, product, grade type, distribution channel, and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various wearable healthcare devices, their adoption, type of applications across key geographic regions.
• Market Diversification: Exhaustive information about new product launches & approvals, untapped geographies, recent developments, and investments in the wearable healthcare devices market
• Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the wearable healthcare devices market along with a competitive leadership mapping of up to 25 players in the market.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on