Wearable Medical Devices Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	133 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19260649

Best Price Guarantee
Price	from $4,850
Length	133 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19260649

Wearable Medical Devices Market

Growth Factors of Wearable Medical Devices Market

The wearable medical devices market size was valued at USD 81.15 billion in 2023, and the market is now projected to grow from USD 91.21 billion in 2024 to USD 324.73 billion by 2032, exhibiting a CAGR of 17.2% during the forecast period of 2024-2032.

Pandemic definitely impacted the wearable medical devices market growth, leading to extensive sales increase for diagnostic tool manufacturers because of the high demand for wearable medical gadgets for self-tracking COVID-19 signs and symptoms many of the populace.

The rise in chronic sicknesses like high blood pressure and diabetes because of sedentary life is putting a financial pressure on healthcare systems. This has brought about a focal point on timely and habitual analysis. Governments and healthcare businesses are selling habitual analysis thru campaigns and awareness programs, increasing focus of vital sign tracking devices. The creation of these gadgets, which measure coronary heart price, Sp02, and blood glucose tiers, has led to a great boom in demand for these devices among the overall population and patients.

The marketplace is experiencing a surge in reputation because of their versatility and comfort. Major players are introducing advanced devices to satisfy client desires. Samsung these days released a fitness band with an aluminium frame in the Philippines, while Koninklijke Philips obtained FDA and CE clearance in May 2020 for the Biosensor BXIOO, a single-use wearable patch designed to monitor COVID-19 patients in hospitals. This product may be integrated into scientific workflows for cellular viewing and notifications, demonstrating the growing significance of fitness and properly-being among the overall population.

Comprehensive Analysis of Wearable Medical Devices Market

The global wearable medical devices market in 2023 is divided into diagnostic & monitoring devices and therapeutic devices. Diagnostic and monitoring devices are pushed with the aid of the growing incidence of chronic illnesses like diabetes and cardiac problems, supported by way of growing disposable income and desire for sports activities and fitness activities. Therapeutic devices are predicted to develop because of their ease of use, specific dosing, and ability to carry out multiple functions concurrently. The market is also categorized into remote patient monitoring & home healthcare and sports & fitness. The sports & fitness segment dominates due to increased awareness of wearable medical devices' benefits for sports & fitness activities. Remote patient monitoring & home healthcare holds the second-largest share, driven by the growing geriatric population and chronic disease prevalence among elderly patients. The consumer grade segment holds the largest market share, driven by increasing demand for fitness bands, smartwatches, and smart clothing. The clinical grade segment is expected to grow with the highest CAGR due to regulatory approvals and product launches. The market is segmented into retail pharmacies, online distribution, and hypermarkets.

The North America region lead the wearable medical devices market share by benefitting a market size of USD 37.40 billion in 2023 due to elements like adequate reimbursement policies, higher per-capita expenditure on superior technology, and the point of interest on progressive wearable devices. The vicinity's properly-hooked up diagnostic infrastructure and strong adoption of technologically superior merchandise make a contribution to marketplace growth.

The is pretty competitive, with most important players like Apple, SAMSUNG, Fitbit, and Sonova dominating the market. Apple dominates with its interest trackers and smartwatches, whilst other groups like Sonova, OMRON Corporation, BD, and NeuroMetrix Inc. Cognizance on growing superior healing wearables and increasing distribution channels to establish their presence in rising countries. These groups are strengthening their market positions through collaborations and acquisitions.

Fitbit Inc. and Quest Diagnostics partnered in January 2024 to advance research on wearable devices for improving metabolic health among the general population.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 17.2% from 2024 to 2032

Unit Value (USD billion)

Segmentation By Product

Diagnostic & Monitoring Devices

Fitness Bands
Smartwatches
Smartclothing
Others

Therapeutic Devices

Wearable Defibrillators
Drug Delivery Devices
Pain Management Devices
Hearing Aids
Others

By Application

Remote Patient Monitoring & Home Healthcare

Sports & Fitness

By Grade

Consumer Grade

Clinical Grade

By Distribution Channel

Retail Pharmacies

Online Distribution

Hypermarkets & Others

By Region

North America (By Product, Application, Grade, Distribution Channel, and Country)

U.S. (By Product)
Canada (By Product)

Europe (By Product, Application, Grade, Distribution Channel, and Country)

U.K. (By Product)
Germany (By Product)
France (By Product)
Italy (By Product)
Spain (By Product)
Rest of Europe (By Product)

Asia Pacific (By Product, Application, Grade, Distribution Channel, and Country)

China (By Product)
Japan (By Product)
India (By Product)
Australia (By Product)
Southeast Asia (By Product)
Rest of the Asia Pacific (By Product)

Rest of the World (By Product, Application, Grade, and Distribution Channel)

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities; 3.4. Market Trends
4. Key Insights: 4.1. Technological Advancements in Wearable Medical Devices; 4.2. New Product Launches; 4.3. Key Industry Developments - Mergers, Acquisitions & Partnerships; 4.4. Impact of COVID-19 on Global Wearable Medical Devices Market
5. Global Wearable Medical Devices Market Analysis, Insights and Forecast, 2019-2032: 5.1. Market Analysis, Insights and Forecast – By Product; 5.1.1. Diagnostic & Monitoring Devices; 5.1.1.1. Fitness Bands; 5.1.1.2. Smartwatches; 5.1.1.3. Smartclothing; 5.1.1.4. Others; 5.1.2. Therapeutic Devices; 5.1.2.1. Wearable Defibrillators; 5.1.2.2. Drug Delivery Devices; 5.1.2.3. Pain Management Devices; 5.1.2.4. Hearing Aids; 5.1.2.5. Others; 5.2. Market Analysis, Insights and Forecast – By Application; 5.2.1. Remote Patient Monitoring & Home Healthcare; 5.2.2. Sports & Fitness; 5.3. Market Analysis, Insights and Forecast – By Grade; 5.3.1. Consumer Grade; 5.3.2. Clinical Grade; 5.4. Market Analysis, Insights and Forecast – By Distribution Channel; 5.4.1. Retail Pharmacies; 5.4.2. Online Distribution; 5.4.3. Hypermarkets & Others; 5.5. Market Analysis, Insights and Forecast – By Region; 5.5.1. North America; 5.5.2. Europe; 5.5.3. Asia Pacific; 5.5.4. Rest of the World
6. North America Wearable Medical Devices Market Analysis, Insights and Forecast, 2019-2032: 6.1. Market Analysis, Insights and Forecast – By Product; 6.1.1. Diagnostic & Monitoring Devices; 6.1.1.1. Fitness Bands; 6.1.1.2. Smartwatches; 6.1.1.3. Smartclothing; 6.1.1.4. Others; 6.1.2. Therapeutic Devices; 6.1.2.1. Wearable Defibrillators; 6.1.2.2. Drug Delivery Devices; 6.1.2.3. Pain Management Devices; 6.1.2.4. Hearing Aids; 6.1.2.5. Others; 6.2. Market Analysis, Insights and Forecast – By Application; 6.2.1. Remote Patient Monitoring & Home Healthcare; 6.2.2. Sports & Fitness; 6.3. Market Analysis, Insights and Forecast – By Grade; 6.3.1. Consumer Grade; 6.3.2. Clinical Grade; 6.4. Market Analysis, Insights and Forecast – By Distribution Channel; 6.4.1. Retail Pharmacies; 6.4.2. Online Distribution; 6.4.3. Hypermarkets & Others; 6.5. Market Analysis, Insights and Forecast – By Country; 6.5.1. U.S.; 6.5.1.1. By Product; 6.5.2. Canada; 6.5.2.1. By Product
7. Europe Wearable Medical Devices Market Analysis, Insights and Forecast, 2019-2032: 7.1. Market Analysis, Insights and Forecast – By Product; 7.1.1. Diagnostic & Monitoring Devices; 7.1.1.1. Fitness Bands; 7.1.1.2. Smartwatches; 7.1.1.3. Smartclothing; 7.1.1.4. Others; 7.1.2. Therapeutic Devices; 7.1.2.1. Wearable Defibrillators; 7.1.2.2. Drug Delivery Devices; 7.1.2.3. Pain Management Devices; 7.1.2.4. Hearing Aids; 7.1.2.5. Others; 7.2. Market Analysis, Insights and Forecast – By Application; 7.2.1. Remote Patient Monitoring & Home Healthcare; 7.2.2. Sports & Fitness; 7.3. Market Analysis, Insights and Forecast – By Grade; 7.3.1. Consumer Grade; 7.3.2. Clinical Grade; 7.4. Market Analysis, Insights and Forecast – By Distribution Channel; 7.4.1. Retail Pharmacies; 7.4.2. Online Distribution; 7.4.3. Hypermarkets & Others; 7.5. Market Analysis, Insights and Forecast – By Country/Sub-region; 7.5.1. France; 7.5.1.1. By Product; 7.5.2. Italy; 7.5.2.1. By Product; 7.5.3. Spain; 7.5.3.1. By Product; 7.5.4. U.K.; 7.5.4.1. By Product; 7.5.5. Germany; 7.5.5.1. By Product; 7.5.6. Rest of Europe; 7.5.6.1. By Product
8. Asia Pacific Wearable Medical Devices Market Analysis, Insights and Forecast, 2019-2032: 8.1. Market Analysis, Insights and Forecast – By Product; 8.1.1. Diagnostic & Monitoring Devices; 8.1.1.1. Fitness Bands; 8.1.1.2. Smartwatches; 8.1.1.3. Smartclothing; 8.1.1.4. Others; 8.1.2. Therapeutic Devices; 8.1.2.1. Wearable Defibrillators; 8.1.2.2. Drug Delivery Devices; 8.1.2.3. Pain Management Devices; 8.1.2.4. Hearing Aids; 8.1.2.5. Others; 8.2. Market Analysis, Insights and Forecast – By Application; 8.2.1. Remote Patient Monitoring & Home Healthcare; 8.2.2. Sports & Fitness; 8.3. Market Analysis, Insights and Forecast – By Grade; 8.3.1. Consumer Grade; 8.3.2. Clinical Grade; 8.4. Market Analysis, Insights and Forecast – By Distribution Channel; 8.4.1. Retail Pharmacies; 8.4.2. Online Distribution; 8.4.3. Hypermarkets & Others; 8.5. Market Analysis, Insights and Forecast – By Country/Sub-region; 8.5.1. China; 8.5.1.1. By Product; 8.5.2. Japan; 8.5.2.1. By Product; 8.5.3. India; 8.5.3.1. By Product; 8.5.4. Australia; 8.5.4.1. By Product; 8.5.5. Southeast Asia; 8.5.5.1. By Product; 8.5.6. Rest of Asia Pacific; 8.5.6.1. By Product
9. Rest of the World Wearable Medical Devices Market Analysis, Insights and Forecast, 2019-2032: 9.1. Market Analysis, Insights and Forecast – By Product; 9.1.1. Diagnostic & Monitoring Devices; 9.1.1.1. Fitness Bands; 9.1.1.2. Smartwatches; 9.1.1.3. Smartclothing; 9.1.1.4. Others; 9.1.2. Therapeutic Devices; 9.1.2.1. Wearable Defibrillators; 9.1.2.2. Drug Delivery Devices; 9.1.2.3. Pain Management Devices; 9.1.2.4. Hearing Aids; 9.1.2.5. Others; 9.2. Market Analysis, Insights and Forecast – By Application; 9.2.1. Remote Patient Monitoring & Home Healthcare; 9.2.2. Sports & Fitness; 9.3. Market Analysis, Insights and Forecast – By Grade; 9.3.1. Consumer Grade; 9.3.2. Clinical Grade; 9.4. Market Analysis, Insights and Forecast – By Distribution Channel; 9.4.1. Retail Pharmacies; 9.4.2. Online Distribution; 9.4.3. Hypermarkets & Others
10. Competitive Analysis: 10.1. Global Market Share Analysis (2023); 10.2. Company Profiles; 10.2.1. BD; 10.2.1.1. Overview; 10.2.1.2. Products; 10.2.1.3. SWOT Analysis; 10.2.1.4. Recent Developments; 10.2.1.5. Strategies; 10.2.1.6. Financials (Based on Availability); 10.2.2. Ypsomed; 10.2.2.1. Overview; 10.2.2.2. Products; 10.2.2.3. SWOT Analysis; 10.2.2.4. Recent Developments; 10.2.2.5. Strategies; 10.2.2.6. Financials (Based on Availability); 10.2.3. Fitbit, Inc.; 10.2.3.1. Overview; 10.2.3.2. Products; 10.2.3.3. SWOT Analysis; 10.2.3.4. Recent Developments; 10.2.3.5. Strategies; 10.2.3.6. Financials (Based on Availability); 10.2.4. Apple Inc.; 10.2.4.1. Overview; 10.2.4.2. Products; 10.2.4.3. SWOT Analysis; 10.2.4.4. Recent Developments; 10.2.4.5. Strategies; 10.2.4.6. Financials (Based on Availability); 10.2.5. Sonova; 10.2.5.1. Overview; 10.2.5.2. Products; 10.2.5.3. SWOT Analysis; 10.2.5.4. Recent Developments; 10.2.5.5. Strategies; 10.2.5.6. Financials (Based on Availability); 10.2.6. NeuroMetrix, Inc.; 10.2.6.1. Overview; 10.2.6.2. Products; 10.2.6.3. SWOT Analysis; 10.2.6.4. Recent Developments; 10.2.6.5. Strategies; 10.2.6.6. Financials (Based on Availability); 10.2.7. SAMSUNG; 10.2.7.1. Overview; 10.2.7.2. Products; 10.2.7.3. SWOT Analysis; 10.2.7.4. Recent Developments; 10.2.7.5. Strategies; 10.2.7.6. Financials (Based on Availability); 10.2.8. OMRON Healthcare, Inc.; 10.2.8.1. Overview; 10.2.8.2. Products; 10.2.8.3. SWOT Analysis; 10.2.8.4. Recent Developments; 10.2.8.5. Strategies; 10.2.8.6. Financials (Based on Availability); 10.2.9. AiQ Smart Clothing; 10.2.9.1. Overview; 10.2.9.2. Products; 10.2.9.3. SWOT Analysis; 10.2.9.4. Recent Developments; 10.2.9.5. Strategies; 10.2.9.6. Financials (Based on Availability); 10.2.10. Koninklijke Philips N.V.; 10.2.10.1. Overview; 10.2.10.2. Products; 10.2.10.3. SWOT Analysis; 10.2.10.4. Recent Developments; 10.2.10.5. Strategies; 10.2.10.6. Financials (Based on Availability)