DUBLIN, March 6, 2023 /PRNewswire/ — The “Wearable Medical Devices: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Wearable Medical Devices Market to Reach $72.2 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Wearable Medical Devices estimated at US$20.7 Billion in the year 2022, is projected to reach a revised size of US$72.2 Billion by 2030, growing at a CAGR of 16.9% over the analysis period 2022-2030. Diagnostic Devices, one of the segments analyzed in the report, is projected to record 14.3% CAGR and reach US$38.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Therapeutic Devices segment is readjusted to a revised 20.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 21.5% CAGR
The Wearable Medical Devices market in the U.S. is estimated at US$7.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$9 Billion by the year 2030 trailing a CAGR of 21.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.1% and 16.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 15.3% CAGR.
Select Competitors (Total 134 Featured) –
- Apple Inc.
- Everist Health Inc.
- Fitbit, Inc.
- Garmin Ltd.
- Intelesens Ltd.
- Koninklijke Philips N.V.
- Omron Corporation
- Polar Electro Oy
- Samsung Electronics Co., Ltd.
- Sotera Wireless, Inc.
- Vital Connect, Inc.
- Withings SA
- Xiaomi Inc.
What`s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Digitalization of Healthcare Provides the Foundation for the Rise of Medical Wearables
- The World Prepares for the Digital Health Revolution
- Digitalization of Healthcare Expands to Wearable Devices
- Supported by the Migration to Digital Health, Healthcare IT Investments Spiral to Unprecedented Levels
- On the Pandemic Front, Here’s What’s Happening. Prognosis Every Business Needs to Know
- With Low Vaccination Rates in Africa Emerging Into a Global Security Issue, Vaccine Imbalances Will Stretch the Pandemic Further into 2022: Global Percentage (%) of Population Administered With Vaccines by Region as of March 2022
- Top Reasons for Unwillingness & Uncertainty Towards COVID-19 Vaccines Among the By-Choice Unvaccinated People: % Share of Various Reasons as of the Year 2022
- Collison of the Pandemic & War Comes as a Set Back for Global Economic Recovery & Progress
- A World Divided Over the War in Russia & Ukraine Fuels Oil Production Stand-Off, Aggravating Global Price Rise & Making Putin More Bolder & Willing to Invade its Neighbors: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2022
- Uncertain, Uneven & Bumpy Recovery Shaped by New Variants Coupled With Inflation Triggered by the Russia-Ukraine War Lowers Growth Expectations for 2022
- Persistently High Unemployment Indicates Long-Term Scarring from the COVID-19 Pandemic, Wage Inequality & Uneven Economic Recovery.
- Tough Times to Continue for Industries Reliant on Consumer Discretionary Incomes Until 2023
- Competition
- Piggybacking on Healthcare Digitalization, the Wearable Healthcare Revolution Has Arrived!
- Recent Market Activity
- Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Personalized Medicine Gets a Boost from the Rise of Medical Device Wearables
- Real-time, Personalized Medicine through Medical Wearable Becomes a Reality
- Emerging Role of Wearables in Precision Medicine
- Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare
- Here’s How Medical Wearables Can Reduce Healthcare Costs
- Rise in Chronic Diseases, Increase in Demand for Medical Services, the Need for Equity in Healthcare & the Ensuing Focus on Democratizing Healthcare to Benefit Medical Wearables
- COVID-19 Induced Consumer Engagement With Health & Wellbeing Technologies Drives Demand for Personal Health Monitoring & Fitness Wearables
- Global Diabetes Epidemic Provides Opportunities On a Platter for Medical Wearables
- Medical Wearables Brings the Promise of Revolutionizing the Effectiveness of Long-Term Diabetes Care & Treatment Outcomes
- Big Data Analytics Remains Vital for Shaping the Future of Wearable Technology & Realizing Complete Benefits of Medical Wearables
- Mining Healthcare Big Data Becomes Big Businesses & Wearable Medical Devices Will Add to this Data Boom
- Integrating Cloud With Medical Wearables, A Major Trend
- AI Emerges to Revolutionize Wearable Medical Devices
- Rapidly Aging World Population, COVID-19 Induced Re-Focus on Aging-In-Place & Rise in Demand for Remote Patient Monitoring to Benefit Growth of Medical Wearables
- Rapidly Aging Population & Escalation in Demand for Geriatric Healthcare Highlights the Need for Medical Emergency Wearables
- Expanding Opportunity for PERS Will Encourage Increased Use of Medical Wearables
- The Stage is Now Set for Remote Patient Monitoring
- Aging Population, Rise of PERS & Migration of Healthcare to Alternate Sites Drive the Need for Remote Patient Monitoring Wherein Wearables Play a Major Role
- Role of Wearables in Remote Patient Monitoring
- Integration of Wearables into Telemedicine Explodes Into a Major Trend
- Wearables Emerge Into the Spotlight as Telemedicine Gains Momentum: Global Telemedicine Opportunity (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Role of Wearables in Telemedicine
- Increasing Obesity Levels Underpins Strong Potential for Wearable Pedometers & Heart Rate Monitors
- Wearables for Cancer Breaks the Surface
- Here’s How Wearables Will Help Revolutionize Cancer Care, Treatment & Outcomes
- Medical Wearables Brings Massive Benefits for Clinical Trials
- Innovations in Medical Wearables Rushes on Full-Steam to Sustain Long-Term Growth in the Market
- Battery Power Being Vital for Wearable Technology is a Major Area Identified for Innovation & R&D
- Privacy & Data Issues Continue to Plague the Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/f3q3qd
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