Global Wearable Medical Device Market, By Product (Diagnostics, Therapeutics), By Type (Patches, Act

Published Date: | Report Code : HC1922503

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Wearable Medical Device Market growth is expected to gain high momentum during the forecast period due to changing lifestyle patterns with a preference for real-time health monitoring. Wearable medical devices are benefitting users by improving health outcomes and healthcare and providing real-time management on improved tracking and health management. The growth of this market can be attributed to the increasing adoption of smart technology and awareness among people regarding fitness.

Segment Analysis

Based on product, the wearable medical device market has been segmented into therapeutics and diagnostics. The therapeutics segment has been further divided into pain management, respiratory therapy, glucose monitoring, and others. The diagnostics segment has been divided into sleep monitoring devices, vital sign monitoring devices, neuromonitoring devices, and others.

Based on type, the market has been segmented into patches, activity monitors, smart watches, smart clothing, and others. Smart watches are capable of monitoring various parameters such as respiratory rate, physical activity, calorie burn, footsteps, etc. Major players such as Samsung and Apple have also launched mobile apps, which can be connected to these watches via Bluetooth. This is further propelling market growth. Based on application, the market has been segmented into home healthcare, sports & fitness, remote patient monitoring, and others.

The tech world is developing wearable medical devices that will entertain customers and help them live a longer and healthier life. Developing markets are anticipated to exhibit exponential growth, owing to the presence of local market players. They offer advanced devices at lower costs, which is a major growth driver for the market.

Key Factors Impacting Market Growth:

  • Increasing product innovation in health monitoring gadgets
  • Changing lifestyle patterns with a preference towards real-time health monitoring

Regional Outlook:

North America, Western Europe, and Asia Pacific by region are estimated to dominate the wearable medical device market during the forecast period. These regions have been market leaders for the overall healthcare sector in terms of technological developments and advanced medical treatments. Moreover, the government policies have been favorable for the growth of the healthcare infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for wearable medical device market during the forecast period. 

The US, Germany, France, UK, Canada, and Spain have been some the major markets in the region. Asia Pacific is estimated to register one of highest CAGR for wearable medical device market during the forecast period. This region has witnessed strategic investments by global companies to cater the growing demand in the recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for wearable medical device market in the region. Other regions including Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for wearable medical device during the forecast period.

Companies Covered: Fitbit, Inc., Xiaomi Technology Co., Ltd, Samsung Electronics Co. Ltd., Huawei Technologies Co., Ltd., Garmin Corporation, Apple Inc., Polar Electro, Activinsights Ltd., OMRON Corporation, and VitalConnect…

Market Segmentation: 

By Product:

  • Diagnostics
    • Vital Sign Monitoring Devices
      • Heart Rate Monitors
      • Activity Monitors
      • Blood Pressure Monitors
      • Others
    • Sleep Monitoring Devices
      • Sleep Trackers
      • Wrist Actigraphs
      • Others
    • Neuromonitoring Devices
      • Electroencephalographs
      • Electromyographs
      • Others
    • Therapeutics
      • Pain Management Devices
        • Neurostimulation
        • Others
      • Insulin/Glucose Monitoring Devices
        • Insulin Pumps
        • Others
      • Rehabilitation Devices
        • Accelerometers
        • Sensing Devices
        • Others
      • Respiratory Therapy Devices
        • Ventilators
        • Portable Oxygen Concentrators
        • Others 

By Type:

  • Patches
  • Activity monitors
  • Smart watches
  • Smart clothing
  • Others

By Application:

  • Sports and Fitness
  • Remote Patient Monitoring
  • Home Healthcare

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Product
    • By Type
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Product
    • By Type
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Product
    • By Type
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Product
    • By Type
    • By Application
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Product
    • By Type
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Product
    • By Type
    • By Application

Reasons To Buy This Report:

  • Market size estimation of the wearable medical device market on a regional and global basis
  • Unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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We provide customization of the study to meet specific requirements:

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