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Global Wireless Health and Fitness Devices Industry

Global Wireless Health and Fitness Devices Industry

  • April 2021
  • 401 pages
  • ID: 5205346
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- Wireless Health & Fitness Devices Market Escapes the Ravages of the Virus Induced Economic Recession. Market to Reach 624.2 Million Units
- The global market for Wireless Health & Fitness Devices is projected to reach 624.2 million units by the year 2027, trailing a post COVID-19 CAGR of 12.1% over the analysis period 2020 through 2027. In times of COVID-19, significant focus is being shed on health and fitness. Exercise is one of the indispensable components of the holistic approach to healthy and quality living. Physical activity combined with a well-balanced diet is a perfect recipe for stimulating and strengthening the immune system that safeguards the host from diseases and infections. The pandemic is profoundly influencing the everyday life of consumers around the world. Social, financial, physical, emotional and environmental issues are topping the priority list for consumers. Worries related to finances, childcare, elderly parents, job security, disruption to routine life are all triggers to stress in the current pandemic scenario. Given that stress can weaken the immune system and compromise overall health and well-being, consumers are beginning to spend additional time, money, and resources on lifestyle changes, fitness routines, and food habits to deal with the pandemic. Exercise holds a profound effect on functioning of the immune system and improves immune response to vaccination, supports immune markers linked with various medical conditions, and reduces low-grade inflammation.
- The rapidly increasing cases of COVID-19 globally have brought exercise in the spotlight owing to its beneficial role in improving immune health. Stress and inactivity inhibit the ability of T-cells to grow in numbers in response to the infectious agent. In addition, lymphocytes, a component of the immune system, are unable to identify and kill cells infected with pathogens like virus or that have turned cancerous. Every bout of physical exercise immediately unleashes billions of human immune cells, mainly those associated with identification and destruction of virus-infected cells. These mobilized cells move into the blood stream and eventually trafficked to secondary tissues and lymphoid organs, especially the gut and lungs that require enhanced immune defense, like in case of COVID-19. Exercise may also alleviate the risk of developing acute respiratory distress syndrome (ARSD), a major complication and primary cause of mortalities related to COVID-19. Against this backdrop, consumers are increasingly opting for wearable wireless sports, fitness and wellness devices with the intention of keeping themselves healthy and safe. Fitness wearables are among the most prevalent technology aids that are helping users to keep track of various aspects of their lifestyles and fitness regimens. Driven by the Quantified Self trend, wearable devices for sports and fitness continue to gain the attention of consumers and enthusiasts alike as wearable fitness devices help users in collecting and measuring data based on the user’s physical condition and performance. Wearers are increasingly using these devices for tracking their weight, step count, heart rate, calories burned, balance, breathing rate, explosive strength and the condition of their vital organs, as well as also for setting personal fitness goals.
- The traditional patient-doctor model is currently undergoing significant changes under the influence of medical wearables. Wearable devices facilitate remote delivery of care through timely intervention by healthcare professionals via telemedicine. With an aging population and a rise in chronic diseases, the need for newer models for healthcare delivery is being felt more than ever. Telemedicine in combination with technologies like wearables and AI can help bridge the gap, make healthcare more accessible, provide timely interventions and help keep patients out of the hospital while ensuring the quality of healthcare delivery. The use of telemedicine can save time, reduce costs, and improve care coordination. When fitness devices integrate with EHRs, providers will have greater options to remotely monitor their patients. By leveraging big data analytics, payers and providers will be able to communicate and administer care much more proactively, leading to fewer hospital admissions. Healthcare systems in high-income countries strive to care for patients with chronic conditions within overburdened practices and consultations, restricted to short visits. Using telemedicine for hosting follow-up appointments and treating patients remotely is a resource-efficient strategy. Healthcare practitioners can cater to a greater number of patients while bringing down the costs associated with healthcare delivery. The COVID-19 outbreak placed unprecedented demands on healthcare system in various countries. The healthcare industry is at the forefront battling the coronavirus pandemic with challenges of increasing demand on health facilities and health care workers and supply chain disruptions. The seemingly accelerating pace at which the novel coronavirus spreads around the world has increased diversion of resources to coronavirus treatment and widespread disruption to routine healthcare services across the globe. Hospitals have also been urged to postpone or limit elective surgeries and other non-necessary treatments, which would keep beds free for COVID-19 infected patients. This in turn has led to hospitals and clinics shutting down their outpatient resources, which poses a major challenge in delivering non-urgent consultations. Against this backdrop, telemedicine is witnessing increased acceptance, particularly in monitoring chronic conditions or postoperative patients. Wearable technology can enable seamless remote patient monitoring through telemedicine during COVID-19.

- Select Competitors (Total 118 Featured) -
  • Abbott Diabetes Care, Inc.
  • adidas AG
  • Alive Technologies Pty. Ltd.
  • Apple, Inc.
  • ASUSTeK Computer, Inc.
  • Beurer GmbH
  • Dexcom, Inc.
  • Entra Health Systems LLC
  • Fitbit, Inc.
  • Garmin Ltd.
  • GE Healthcare
  • Google Inc.
  • iHealth Labs, Inc.
  • Intelesens Ltd.
  • Isansys Lifecare Ltd.
  • Motorola Mobility LLC
  • LG Electronics Inc.
  • Medtronic plc
  • Misfit, Inc.
  • NeuroSky, Inc.
  • Nike, Inc.
  • Nonin Medical, Inc.
  • Nokia Corporation
  • Withings SA
  • NUUBO Smart Solutions Technologies, SL
  • Omron Healthcare Co., Ltd.
  • Oregon Scientific, Inc.
  • Philips Healthcare
  • Polar Electro Oy
  • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Suunto Oy
  • Under Armour, Inc.
  • Vital Connect, Inc.
  • Winmedical Srl
  • Xiaomi Inc.

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