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Global Wearable Medical Devices Market, 2014 to 2022f

November 2016 | 73 pages | ID: G395026A520EN
Bhavya Bharati

US$ 3,500.00

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Executive summary

The global market for wearable medical devices was valued at USD 3.1 billion in 2014 and is expected to reach USD XX billion in 2022f, growing at a CAGR of XX% during the forecast period of 2016e to 2022f. Wearable technology devices form a major part of the Internet-of-Things (IoT), and are predicted to have a significant influence on the fields of fitness, medicine, disabilities, education, transportation, gaming and entertainment.

The increasing demand of industries such as remote patient monitoring devices and home healthcare is expected to propel the demand for wearable medical devices. Furthermore, increasing focus on fitness, growing awareness among the population, rise in base of aging population, and a healthy lifestyle orientation are also expected to impact the Wearable Medical Device Market

Straps and headbands are the most common application areas of wearable medical devices. The top three companies with the highest number of patents and patent applications are Microsoft, Philips, and Alphabet. Microsoft is at the top with around 750 patents/patent applications, out of which 437 patents are high quality. Geographically, the US has seen the maximum number ofpatent filings in the domain of wearable technology, followed by China, Japan and Korea.

Benefits
  • Improved services with patient data
  • Hands-free nature of many wearable devices is beneficial to health professionals working in sterile environments
  • Training opportunities for medical professionals
  • Minimise the treatment costs
  • Improve the health outcomes
  • Better care
  • Ease of data collection
Challenges
  • Technical difficulties
  • Important patients data privacy issues
  • Poor data quality
  • Unaddressed regulatory issues
  • Unavailability of sufficient medical professionals to analyse the data
  • High cost of devices
  • Unfashionable designs
Market overview

Wearable devices are small electronic products, often consisting of one or more sensors and having computational capability. They are embedded into items that attach to the body, such as individual’s head, feet, arms, wrists and waist. They can resemble a watch, eyeglasses, clothing, contact lenses, shoes or even jewellery.

Wearable devices either capture data or present data. The types of data collected could be as simple as the number of steps taken in a day or as complex as ECG or brainwave measurements. For output, wearable devices can convey information to the user through a variety of means, from the blinking of an LED light to a complex display of data.

Health and fitness, and other medical applications, are areas where wearable devices are expected to play a transformative role. However, the application of wearable devices has potential in various industries where hands-free data collection is highly valued. Wearable devices for health (including fitness, wellness and medical applications) are some of the early applications that have already gained traction. Incumbents for wearable medical devices include Nike (Nike+ FuelBand), Fitbit(Two wristbands (Force and Flex) and two clip-on trackers (Zip and One) and Jawbone (UP wristband-based fitness tracker).

An array of potential benefits stems from the use of wearable devices for health. These tools can be leveraged whenever information or communication is required, a hands-free interface is helpful and consistent monitoring is beneficial
1.1 SCOPE OF THE REPORT

1.1.1 Report description
1.1.2 Research methodology
1.1.3 List of abbreviations
1.1.4 Market segmentation

1.2 EXECUTIVE SUMMARY

1.3 INDUSTRY ANALYSIS

1.3.1 Market overview
1.3.2 Market share by product categories
1.3.3 Market share analysis of key players

1.4 QUALITATIVE ANALYSIS

1.4.1 Market overview
  1.4.1.1 Drivers
  1.4.1.2 Challenges
  1.4.1.3 Opportunities
1.4.2 Porters five forces analysis
1.4.3 Key M&A trends and strategic partnerships
1.4.4 Competitive scenario

1.5 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY TYPE OF DEVICE

1.5.1 Diagnostic devices
  1.5.1.1 Vital sign monitors
  1.5.1.2 Sleep and activity monitors
  1.5.1.3 Fetal and obstetric monitoring devices
  1.5.1.4 Neuromonitoring devices
  1.5.1.5 ECG monitors
1.5.2 Therapeutic devices
  1.5.2.1 Pain management devices
  1.5.2.2 Insulin monitoring devices
  1.5.2.3 Respiratory therapy devices
  1.5.2.4 Rehabilitation devices

1.6 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY SITE OF APPLICATION

1.6.1 Handheld
1.6.2 Headband
1.6.3 Strap
1.6.4 Shoe sensors
1.6.5 Others

1.7 CONTRACT WEARABLE MEDICAL DEVICES MARKET, BY GEOGRAPHY

1.7.1 North America
1.7.2 EMEA
1.7.3 APAC

1.8 COMPANY PROFILES

1.8.1 Philips Electronics
1.8.2 Omron Corporation
1.8.3 Zephyr Technology Corporation
1.8.4 Fitbit Inc.
1.8.5 Johnson and Johnson
1.8.6 The Boston Scientific Corporation
1.8.7 LifeWatch AG


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