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Global Wearable Healthcare Devices Market By Device Type (Diagnostic and Therapeutic), By Application (Patient Monitoring, Home Healthcare, Others), By Product, By Distribution Channel, By Region, Forecast & Opportunities to 2026

The global wearable healthcare devices market accounted for a value of 16.0 billion in 2019 and is projected to register growth at a CAGR of 17.1% during forecast period.

COVID-19 has impacted the wearable healthcare devices market. The outbreak of corona virus globally, there has been a shortage of essential medical equipments and devices. The cases of corona virus are increasing in the world which increases and lockdown has been imposed in order control the transmission of this virus. Providing essentials amid lockdown is very challenging. The demand for digital health wearable is increasing immensely due to corona virus as it helps in remote monitoring and telehealth which helps in dealing with lockdown and travel restrictions. The market is likely to witness significant growth due to COVID-19.

Definition:

Wearable healthcare devices can b defined as device which autonomous and noninvasive. It performs medical functions such as monitoring or supporting over a period of time. It includes electronic devices which can be wearing by consumers such as fitbit and smartwatches.

Market Dynamics (Drivers/Opportunities):

The adoption of mobile platforms, 5G and AI is increasing in the world. The awareness is growing and preference to home healthcare is increasing. The emerging economies such Brazil, China India and others are providing growth opportunities to healthcare industry players. This is likely to boost the growth of Wearable healthcare devices in the market during forecast period.

The adoption of fitness wearable is widely increasing especially among youth. The obese population is increasing around the world and the adoption of physical activities is also increasing. This increases the demand for wearable healthcare devices such as smart watches and fitbit etc around the world. Thus, drives growth in wearable healthcare devices market during forecast.

Market Insights, by Device Type

On the basis of device type, the wearable healthcare devices market is segmented into diagnostic device and therapeutic devices. The therapeutic device segment is estimated to grow at highest CAGR during forecast period. The demand and adoption of these products are increasing rapidly in the world. The therapeutic device segment is further divided into pain management, respiratory therapy devices and rehabilitation. The demand for therapeutic devices is higher and this drives growth in therapeutic segment during forecast period.

Market Insights, by Application

On the basis of application, the wearable healthcare devices market is segmented into general health & fitness, remote patient monitoring and home healthcare. The remote patient monitoring segment is estimated to register growth at highest CAGR during forecast period. The geriatric population is increasing rapidly around the world. The chronic diseases are also increasing which requires regular care and there are areas where advanced healthcare infrastructure is not available and this increases utilization of remote patients monitoring systems. Thus, drives growth in respiratory patient monitoring segment during forecast period.

Regional Insights

North America region accounted for largest market share in 2019. The incidence of cardiovascular disorders, cancer and diabetes diseases are increasing in this region which involves routine monitoring. The healthcare infrastructure is developing in this region and adoption of wearable healthcare devices is increasing in this region. However, the Asia-Pacific region is estimated to grow at fastest rate during forecast period.  The government is adopting favorable initiative for boosting medical devices. The geriatric population is increasing and the disposable income of people is also increasing due to which they are expending towards better healthcare services. Thus, drives growth in wearable healthcare devices market in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in wearable healthcare devices sector are Medtronic Plc., Koninklijke Philips N.V., OMRON Corporation, Apple Inc., Biotelemetry Inc., Dexcom Inc., Abbott Laboratories, masimo Corporation, GE Healthcare, Bio-Beat technologies, iRhythm Technologies Inc., VitalConnect, Minttihealth, preventice Solutions, CONTEC Medical Systems CO., Biotricity and Ten3T Healthcare.

Segments Covered in the Report

This report forecasts The Global Wearable Healthcare Devices Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global wearable healthcare devices market report on the basis of device type, application, product type and distribution channel.

Wearable Healthcare Devices Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Wearable Healthcare Devices Market, By Device Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Diagnostic Device
  • Therapeutic Devices
  1. Wearable Healthcare Devices Market, By Product Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Watch
  • Wristband
  • Clothing
  • Ear Wear
  • Others
  • Ear Wear
  1. Wearable Healthcare Devices Market, By Distribution Channel, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Pharmacies
  • Online Channel
  • Hypermarkets
  1. Wearable Healthcare Devices Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • General Health & Fitness
  • Remote Patient Monitoring
  • Home Healthcare
  1. Wearable Healthcare Devices Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Device Type
    • By Product Type
    • By Distribution Channel
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Device Type
      • By Product Type
      • By Distribution Channel
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Device Type
        • By Product Type
        • By Distribution Channel
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Device Type
          • By Product Type
          • By Distribution Channel
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Device Type
            • By Product Type
            • By Distribution Channel
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Ten3T Healthcare
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Medtronic Plc.
    • Koninklijke Philips N.V.
    • OMRON Corporation
    • Apple Inc.
    • Biotelemetry Inc.
    • Dexcom Inc.
    • Abbott Laboratories
    • Masimo Corporation
    • GE Healthcare
    • Bio-Beat Technologies
    • iRhythm Technologies Inc.
    • VitalConnect
    • Minttihealth
    • Preventice Solutions
    • CONTEC Medical Systems CO.
    • Biotricity
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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