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Global Wearable Medical Devices Market Size study & Forecast, by Product (Diagnostic & Patient Monitoring Devices, Therapeutic Devices), by Application (Remote Patient Monitoring & Home Healthcare, Sports and Fitness), by Distribution Channel (Retail Pharmacies, Online Distribution, Hypermarkets) and Regional Analysis, 2023-2030

February 2024 | 200 pages | ID: GB6C365902AAEN
Bizwit Research & Consulting LLP

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Global Wearable Medical Devices Market is valued at approximately USD 59.12 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 28.6% during the forecast period 2023-2030. A wearable medical device is a portable and compact technology designed to be worn on the body to monitor, manage, or improve various aspects of health and well-being. These devices typically incorporate sensors, data processing capabilities, and wireless connectivity to collect and transmit real-time health information. Wearable medical devices can serve a range of purposes, including monitoring vital signs such as heart rate, blood pressure, and oxygen levels, tracking physical activity and sleep patterns, and managing chronic conditions such as diabetes or respiratory disorders. The Wearable Medical Devices Market is expanding because of factors such as the rising prevalence of chronic disorders, rising health consciousness among the general population and growing fitness trends.

The rising prevalence of chronic diseases is a significant driving force behind the growth of the Wearable Medical Devices Market. Chronic conditions, such as diabetes, cardiovascular diseases, and respiratory disorders, are becoming increasingly prevalent worldwide, placing a substantial burden on healthcare systems. Wearable medical devices offer a proactive and continuous monitoring solution for individuals managing these conditions. The real-time data provided by these devices, including vital signs, activity levels, and other relevant health metrics, enable early detection of potential complications and facilitate timely intervention. According to the International Diabetes Federation, Diabetes Atlas Tenth Edition 2021, about 537 million adults worldwide were discovered to have diabetes in 2021, with estimates showing that figure would rise to 643 million by 2030 and 783 million by 2045. Moreover, The American College of Cardiology reports that by 2030, there would be around 29 million Americans with a diagnosis of cardiovascular disease, up from 6.95 million in the year 2021. In 2020, 244.1 million people worldwide were living with ischemic heart disease. Thus, the rising prevalence of chronic conditions is driving the market growth. In addition, integration with smartphones and cloud computing and the rising aging population are creating new opportunities for market growth. However, data security and privacy concerns and limited reimbursement policies stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Wearable Medical Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The increasing incidence of cardiovascular disorders, diabetes, and cancer in this region is expected to drive market growth. The widespread adoption of remote patient monitoring and home care devices, aimed at providing consistent, continuous, and prolonged patient monitoring while minimizing the need for frequent hospital visits, is anticipated to further boost market expansion throughout the forecast period. Asia Pacific is expected to grow significantly over the forecast period. The market in the region is being driven by factors such as supportive government initiatives promoting the use of wearable medical instruments, a rising elderly population, and escalating healthcare expenditures, rapid technological advancements, increasing demand for home care devices, and the necessity for continuous monitoring.

Major market player included in this report are:

Apple Inc

Samsung Electronics Co., Ltd

Garmin Ltd.

Abbott Laboratories

Medtronic plc

Dexcom, Inc

Johnson & Johnson Inc.

Philips Healthcare

Xiaomi Corporation

Intelesens Ltd.

Recent Developments in the Market:
  • In January 2023, Masimo and Royal Philips have extended their collaboration to leverage the features of the Masimo W1 advanced health tracking watch, with the goal of improving patient monitoring in the domain of home telehealth. The amalgamation of Philips's enterprise patient monitoring ecosystem with the W1 watch is poised to drive progress in telehealth and telemonitoring capabilities. This collaboration signals a concerted effort to enhance the effectiveness and reach of remote health monitoring solutions
  • In April 2023, Garmin disclosed the expanded regional availability of Dexcom Connect IQ apps, catering to individuals managing Type 1 or Type 2 diabetes and utilizing the Dexcom G6 or Dexcom G7 Continuous Glucose Monitoring System. These apps empower users to conveniently monitor their glucose levels and trends directly on a compatible smartwatch or cycling computer.
  • In July 2021, Semglee, a first-of-its-kind Wearable Medical Devices product made by India’s Biocon, got United States approval. Semglee, manufactured by Biocon Biologics, a Bengaluru-based pharmaceutical company, is both interchangeable with and biosimilar to Lantus, a long-acting Wearable Medical Devices product already approved in the United States.
Global Wearable Medical Devices Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Product, Application, Distribution Channel, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Diagnostic & Patient Monitoring Devices

Therapeutic Devices

By Application:

Remote Patient Monitoring & Home Healthcare

Sports and Fitness

By Distribution Channel:

Retail Pharmacies

Online Distribution

Hypermarkets

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1 EXECUTIVE SUMMARY

1.1 Market Snapshot
1.2 Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1 Wearable Medical Devices Market, by Region, 2020-2030 (USD Billion)
  1.2.2 Wearable Medical Devices Market, by Product, 2020-2030 (USD Billion)
  1.2.3 Wearable Medical Devices Market, by Application, 2020-2030 (USD Billion)
  1.2.4 Wearable Medical Devices Market, by Distribution Channel, 2020-2030 (USD Billion)
1.3 Key Trends
1.4 Estimation Methodology
1.5 Research Assumption

CHAPTER 2 GLOBAL WEARABLE MEDICAL DEVICES MARKET DEFINITION AND SCOPE

2.1 Objective of the Study
2.2 Market Definition & Scope
  2.2.1 Industry Evolution
  2.2.2 Scope of the Study
2.3 Years Considered for the Study
2.4 Currency Conversion Rates

CHAPTER 3 GLOBAL WEARABLE MEDICAL DEVICES MARKET DYNAMICS

3.1 Wearable Medical Devices Market Impact Analysis (2020-2030)
  3.1.1 Market Drivers
    3.1.1.1 Rising prevalence of chronic disorders
    3.1.1.2 Rising health consciousness among general population
    3.1.1.3 Growing fitness trends
  3.1.2 Market Challenges
    3.1.2.1 Data security and privacy concerns
    3.1.2.2 Limited reimbursement policies
  3.1.3 Market Opportunities
    3.1.3.1 Integration with smartphones and cloud computing
    3.1.3.2 Rising aging population

CHAPTER 4 GLOBAL WEARABLE MEDICAL DEVICES MARKET INDUSTRY ANALYSIS

4.1 Porter’s 5 Force Model
  4.1.1 Bargaining Power of Suppliers
  4.1.2 Bargaining Power of Buyers
  4.1.3 Threat of New Entrants
  4.1.4 Threat of Substitutes
  4.1.5 Competitive Rivalry
4.2 Porter’s 5 Force Impact Analysis
4.3 PEST Analysis
  4.3.1 Political
  4.3.2 Economical
  4.3.3 Social
  4.3.4 Technological
  4.3.5 Environmental
  4.3.6 Legal
4.4 Top investment opportunity
4.5 Top winning strategies
4.6 COVID-19 Impact Analysis
4.7 Disruptive Trends
4.8 Industry Expert Perspective
4.9 Analyst Recommendation & Conclusion

CHAPTER 5 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY PRODUCT

5.1 Market Snapshot
5.2 Global Wearable Medical Devices Market by Product, Performance - Potential Analysis
5.3 Global Wearable Medical Devices Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4 Wearable Medical Devices Market, Sub Segment Analysis
  5.4.1 Diagnostic & Patient Monitoring Devices
  5.4.2 Therapeutic Devices

CHAPTER 6 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY APPLICATION

6.1 Market Snapshot
6.2 Global Wearable Medical Devices Market by Application, Performance - Potential Analysis
6.3 Global Wearable Medical Devices Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4 Wearable Medical Devices Market, Sub Segment Analysis
  6.4.1 Remote Patient Monitoring & Home Healthcare
  6.4.2 Sports and Fitness

CHAPTER 7 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY DISTRIBUTION CHANNEL

7.1 Market Snapshot
7.2 Global Wearable Medical Devices Market by Distribution Channel, Performance - Potential Analysis
7.3 Global Wearable Medical Devices Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
7.4 Wearable Medical Devices Market, Sub Segment Analysis
  7.4.1 Retail Pharmacies
  7.4.2 Online Distribution
  7.4.3 Hypermarkets

CHAPTER 8 GLOBAL WEARABLE MEDICAL DEVICES MARKET, REGIONAL ANALYSIS

8.1 Top Leading Countries
8.2 Top Emerging Countries
8.3 Wearable Medical Devices Market, Regional Market Snapshot
8.4 North America Wearable Medical Devices Market
  8.4.1 U.S. Wearable Medical Devices Market
    8.4.1.1 Product breakdown estimates & forecasts, 2020-2030
    8.4.1.2 Application breakdown estimates & forecasts, 2020-2030
    8.4.1.3 Distribution Channel breakdown estimates & forecasts, 2020-2030
  8.4.2 Canada Wearable Medical Devices Market
8.5 Europe Wearable Medical Devices Market Snapshot
  8.5.1 U.K. Wearable Medical Devices Market
  8.5.2 Germany Wearable Medical Devices Market
  8.5.3 France Wearable Medical Devices Market
  8.5.4 Spain Wearable Medical Devices Market
  8.5.5 Italy Wearable Medical Devices Market
  8.5.6 Rest of Europe Wearable Medical Devices Market
8.6 Asia-Pacific Wearable Medical Devices Market Snapshot
  8.6.1 China Wearable Medical Devices Market
  8.6.2 India Wearable Medical Devices Market
  8.6.3 Japan Wearable Medical Devices Market
  8.6.4 Australia Wearable Medical Devices Market
  8.6.5 South Korea Wearable Medical Devices Market
  8.6.6 Rest of Asia Pacific Wearable Medical Devices Market
8.7 Latin America Wearable Medical Devices Market Snapshot
  8.7.1 Brazil Wearable Medical Devices Market
  8.7.2 Mexico Wearable Medical Devices Market
8.8 Middle East & Africa Wearable Medical Devices Market
  8.8.1 Saudi Arabia Wearable Medical Devices Market
  8.8.2 South Africa Wearable Medical Devices Market
  8.8.3 Rest of Middle East & Africa Wearable Medical Devices Market

CHAPTER 9 COMPETITIVE INTELLIGENCE

9.1 Key Company SWOT Analysis
  9.1.1 Company
  9.1.2 Company
  9.1.3 Company
9.2 Top Market Strategies
9.3 Company Profiles
  9.3.1 Apple Inc
    9.3.1.1 Key Information
    9.3.1.2 Overview
    9.3.1.3 Financial (Subject to Data Availability)
    9.3.1.4 Product Summary
    9.3.1.5 Recent Developments
  9.3.2 Samsung Electronics Co., Ltd
  9.3.3 Garmin Ltd.
  9.3.4 Abbott Laboratories
  9.3.5 Medtronic plc
  9.3.6 Dexcom, Inc
  9.3.7 Johnson & Johnson Inc.
  9.3.8 Philips Healthcare
  9.3.9 Xiaomi Corporation
  9.3.10 Intelesens Ltd.

CHAPTER 10 RESEARCH PROCESS

10.1 Research Process
  10.1.1 Data Mining
  10.1.2 Analysis
  10.1.3 Market Estimation
  10.1.4 Validation
  10.1.5 Publishing
10.2 Research Attributes
10.3 Research Assumption

LIST OF TABLES

TABLE 1 Global Wearable Medical Devices Market, report scope
TABLE 2 Global Wearable Medical Devices Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3 Global Wearable Medical Devices Market estimates & forecasts by Product 2020-2030 (USD Billion)
TABLE 4 Global Wearable Medical Devices Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 5 Global Wearable Medical Devices Market estimates & forecasts by Distribution Channel 2020-2030 (USD Billion)
TABLE 6 Global Wearable Medical Devices Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7 Global Wearable Medical Devices Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8 Global Wearable Medical Devices Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9 Global Wearable Medical Devices Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10 Global Wearable Medical Devices Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11 Global Wearable Medical Devices Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12 Global Wearable Medical Devices Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13 Global Wearable Medical Devices Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14 Global Wearable Medical Devices Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15 Global Wearable Medical Devices Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16 U.S. Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17 U.S. Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18 U.S. Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19 Canada Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20 Canada Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21 Canada Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22 UK Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23 UK Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24 UK Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25 Germany Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26 Germany Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27 Germany Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28 France Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29 France Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30 France Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31 Italy Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32 Italy Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33 Italy Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34 Spain Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35 Spain Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36 Spain Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37 RoE Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38 RoE Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39 RoE Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40 China Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41 China Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42 China Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43 India Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44 India Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45 India Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46 Japan Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47 Japan Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48 Japan Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49 South Korea Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50 South Korea Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51 South Korea Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52 Australia Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53 Australia Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54 Australia Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55 RoAPAC Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56 RoAPAC Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57 RoAPAC Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58 Brazil Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59 Brazil Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60 Brazil Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61 Mexico Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62 Mexico Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63 Mexico Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64 RoLA Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65 RoLA Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66 RoLA Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67 Saudi Arabia Wearable Medical Devices Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68 South Africa Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69 RoMEA Wearable Medical Devices Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70 List of secondary sources, used in the study of global Wearable Medical Devices Market
TABLE 71 List of primary sources, used in the study of global Wearable Medical Devices Market
TABLE 72 Years considered for the study
TABLE 73 Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1 Global Wearable Medical Devices Market, research methodology
FIG 2 Global Wearable Medical Devices Market, Market estimation techniques
FIG 3 Global Market size estimates & forecast methods
FIG 4 Global Wearable Medical Devices Market, key trends 2022
FIG 5 Global Wearable Medical Devices Market, growth prospects 2023-2030
FIG 6 Global Wearable Medical Devices Market, porters 5 force model
FIG 7 Global Wearable Medical Devices Market, pest analysis
FIG 8 Global Wearable Medical Devices Market, value chain analysis
FIG 9 Global Wearable Medical Devices Market by segment, 2020 & 2030 (USD Billion)
FIG 10 Global Wearable Medical Devices Market by segment, 2020 & 2030 (USD Billion)
FIG 11 Global Wearable Medical Devices Market by segment, 2020 & 2030 (USD Billion)
FIG 12 Global Wearable Medical Devices Market by segment, 2020 & 2030 (USD Billion)
FIG 13 Global Wearable Medical Devices Market by segment, 2020 & 2030 (USD Billion)
FIG 14 Global Wearable Medical Devices Market, regional snapshot 2020 & 2030
FIG 15 North America Wearable Medical Devices Market 2020 & 2030 (USD Billion)
FIG 16 Europe Wearable Medical Devices Market 2020 & 2030 (USD Billion)
FIG 17 Asia pacific Wearable Medical Devices Market 2020 & 2030 (USD Billion)
FIG 18 Latin America Wearable Medical Devices Market 2020 & 2030 (USD Billion)
FIG 19 Middle East & Africa Wearable Medical Devices Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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