The Wearable Healthcare Devices Market is poised for rapid growth, with a projected CAGR of 13% from 2022 to 2032. The market was valued at US$ 16 billion in 2021 and is anticipated to reach US$ 30 billion by 2026. By the end of 2032, the global wearable healthcare devices market is expected to be worth approximately US$ 61 billion, reflecting a 3.8X growth compared to the present scenario.
Driving the market growth are factors such as the increasing prevalence of chronic diseases, technological advancements in wearable medical devices, growing health awareness, and rising demand for real-time monitoring of vital parameters by patients. The growing mortality rate due to cardiovascular diseases, including diabetes, obesity, heart attacks, and stroke, is expected to fuel demand for wearable medical devices during the forecast period. In 2019, almost 17.9 million deaths were caused by CVDs, with heart attacks and stroke accounting for 85% of those deaths, according to the World Health Organization.
Key Manufacturers in the Wearable Healthcare Devices Market:
Medtronic PLC, Koninklijke Philips N.V, GE Healthcare, Fitbit Inc, OMRON Corporation, Abbott Laboratories, Garmin Ltd., Dexcom Inc., and Masimo Corporation.
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Key Segments
By Product:
- Trackers
- Smartwatches
- Pathes
- Smart Clothing
By Application:
- General Health and Fitness
- Remote Patient Monitoring
- Home Healthcare
By Device Type:
- Diagnostic and Monitoring Devices
- Vital Sign Monitoring Devices
- ECG/Heart Rate Monitors
- Blood Pressure Monitors
- Wrist Actigraphs
- Polysomnography Devices
- Traditional Diagnostic Tests
By Grade Type:
- Consumer-grade Wearable Healthcare Devices
- Clinical-grade Wearable Healthcare Devices
By Distribution Channel:
- Pharmacies
- Online Channel
- Hypermarkets
According to research report wearable healthcare devices market size is projected to reach USD 46.6 billion by 2025 from USD 18.4 billion in 2020, at a CAGR of 20.5% from 2020 to 2025.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=81753973Emerging economies such as China, India and Brazil are expected to provide a wide range of opportunities for players in the market.
Furthermore, increasing adoption of AI and 5G, growing adoption of mobile platforms, and the growing awareness and preference for home healthcare will also boost the growth of this market.The major players in the wearable healthcare devices market are Medtronic plc.
(Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US), Dexcom Inc. (US), Abbott Laboratories(US), CONTEC Medical Systems Co. Ltd (China), Biotricity Inc.(US), Verily Life Sciences.
(US), Masimo Corporation(US), GE Healthcare(US), Bio-Beat Technologies (Israel), iRhythm Technologies, Inc. (US), VitalConnect (US), Minttihealth (US), Preventice Solutions, Inc. (US), Cyrcadia Asia Limited (Hong Kong ), ten3T healthcare (India), Fitbit, Inc. (US), Garmin Ltd (Switzerland), Xiaomi Technologies (China), and Huawei Corporation (China).Recent Developments:> In 2019, Apple Watch Series 5 was launched with advanced functionalities by Apple, Inc. (US)> In 2020, Fitbit Charge 4, activity tracker was launched by Fitbit, Inc. (US)> In 2019, Omron (Japan) launched HeartGuide, a wearable blood pressure smart watch.
In 2019, the general health and fitness segment accounted for the largest share of the market, primarily due to the increasing focus on physical fitness among people to improve their quality of life, coupled with the growing trend of tracking health progress on a continuous basis.Based on device type, the wearable medical devices market is segmented into diagnostic & monitoring devices and therapeutic devices.
In 2019, the diagnostic & monitoring devices segment accounted for a larger share of 64.3% of the wearable medical devices market.
Dec 03, 2020: Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Wearable Healthcare Devices in these regions, from 2012 to 2023 (forecast), coveringAsia-Pacific (China, Japan, Korea, India and Southeast Asia)North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)South America (Brazil, Argentina, Columbia)Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download sample Copy of This Report at: https://www.radiantinsights.com/research/global-wearable-healthcare-devices-market-2025/request-sampleGlobal Wearable Healthcare Devices market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players includingMedtronicSiemensFitbitBayerPanasonicAnimas Corporation (Johnson and Johnson)Smiths Medical (Smiths Group)Koninklijke PhilipsOwlet Baby CareOMRONHoffmann-La RocheRest DevicesView Full Report with TOC @ https://www.radiantinsights.com/research/global-wearable-healthcare-devices-market-2025On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split intoWearable Monitoring and Diagnostic DevicesHearing AidInsulin PumpRespiratory Therapy DevicesSleep Apnea DevicesOtherOn the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Wearable Healthcare Devices for each application, includingHospital PharmaciesClinicsHomeAbout Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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