Dublin, April 11, 2024 (GLOBE NEWSWIRE) -- The "Wearable Medical Devices - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Wearable Medical Devices estimated at US$24 Billion in the year 2023, is projected to reach a revised size of US$72.2 Billion by 2030, growing at a CAGR of 14.8% over the analysis period 2023-2030.
Diagnostic Devices, one of the segments analyzed in the report, is projected to record 12.5% CAGR and reach US$38.2 Billion by the end of the analysis period. Growth in the Therapeutic Devices segment is estimated at 17.9% CAGR for the next 8-year period.
The Wearable Medical Devices market in the U.S. is estimated at US$8.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$9 Billion by the year 2030 trailing a CAGR of 18.6% over the analysis period 2023 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.4% and 14.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.
Key Market Trends & Drivers
- Personalized Medicine Gets a Boost from the Rise of Medical Device Wearables
- Real-time, Personalized Medicine through Medical Wearable Becomes a Reality
- Emerging Role of Wearables in Precision Medicine
- Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare
- How Medical Wearables Can Reduce Healthcare Costs
- Rise in Chronic Diseases, Increase in Demand for Medical Services, the Need for Equity in Healthcare & the Ensuing Focus on Democratizing Healthcare to Benefit Medical Wearables
- COVID-19 Induced Consumer Engagement With Health & Wellbeing Technologies Drives Demand for Personal Health Monitoring & Fitness Wearables
- Global Diabetes Epidemic Provides Opportunities On a Platter for Medical Wearables
- Medical Wearables Brings the Promise of Revolutionizing the Effectiveness of Long-Term Diabetes Care & Treatment Outcomes
- Big Data Analytics Remains Vital for Shaping the Future of Wearable Technology & Realizing Complete Benefits of Medical Wearables
- Integrating Cloud With Medical Wearables, A Major Trend
- AI Emerges to Revolutionize Wearable Medical Devices
- Rapidly Aging World Population, COVID-19 Induced Re-Focus on Aging-In-Place & Rise in Demand for Remote Patient Monitoring to Benefit Growth of Medical Wearables
- Expanding Opportunity for PERS Will Encourage Increased Use of Medical Wearables
- The Stage is Now Set for Remote Patient Monitoring
- Role of Wearables in Remote Patient Monitoring
- Integration of Wearables into Telemedicine Explodes Into a Major Trend
- Wearables Emerge Into the Spotlight as Telemedicine Gains Momentum
- Role of Wearables in Telemedicine
- Increasing Obesity Levels Underpins Strong Potential for Wearable Pedometers & Heart Rate Monitors
- Wearables for Cancer Breaks the Surface
- Here's How Wearables Will Help Revolutionize Cancer Care, Treatment & Outcomes
- Medical Wearables Brings Massive Benefits for Clinical Trials
- Innovations in Medical Wearables Rushes on Full-Steam to Sustain Long-Term Growth in the Market
- Battery Power Being Vital for Wearable Technology is a Major Area Identified for Innovation & R&D
- Privacy & Data Issues Continue to Plague the Market
The report features profiles of 130+ featured companies. A selection of companies in the report includes:
- Apple
- Abbott Laboratories
- B. Braun Melsungen
- Becton, Dickinson
- ASUSTeK Computer
- Beurer
- 4iiii Innovations
- Alive Technologies
- BioTelemetry
- Alphabet
- 1byone
- Acurable
- Biotricity
- Biobeat
- Amazfit
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Digitalization of Healthcare Provides the Foundation for the Rise of Medical Wearables
- The World Prepares for the Digital Health Revolution
- Digitalization of Healthcare Expands to Wearable Devices: Global Opportunity for Digital Health (In US$ Billion) for Years 2021, 2023 2025 and 2027
- Supported by the Migration to Digital Health, Healthcare IT Investments Spiral to Unprecedented Levels
- Global Economic Outlook
- Competition
- Wearable Medical Devices - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Piggybacking on Healthcare Digitalization, the Wearable Healthcare Revolution Has Arrived!
- Recent Market Activity
- Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Real-time, Personalized Medicine through Medical Wearable Becomes a Reality: Global Opportunity for Personalized Medicine (In US$ Billion) for Years 2020, 2022 & 2024
- Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023
- Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
- Global Prevalence of Diabetes: Number of Adults (20-79 Years) Diagnosed with Diabetes (in Million) by Gender for 2019, 2030 and 2045
- Mining Healthcare Big Data Becomes Big Businesses & Wearable Medical Devices Will Add to this Data Boom: Worldwide Digital Healthcare Data (In Exabytes) for Years 2013, 2017, 2020, and 2022
- Rapidly Aging World Population, COVID-19 Induced Re-Focus on Aging-In-Place & Rise in Demand for Remote Patient Monitoring to Benefit Growth of Medical Wearables
- Rapidly Aging Population & Escalation in Demand for Geriatric Healthcare Highlights the Need for Medical Emergency Wearables: Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Expanding Opportunity for PERS Will Encourage Increased Use of Medical Wearables: Global Opportunity for PERS (In US$ Million) for Years 2021, 2023 2025 and 2027
- Aging Population, Rise of PERS & Migration of Healthcare to Alternate Sites Drive the Need for Remote Patient Monitoring Wherein Wearables Play a Major Role: Global Remote Patient Monitoring Market (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Wearables Emerge Into the Spotlight as Telemedicine Gains Momentum: Global Telemedicine Opportunity (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
- Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- United States
- Canada
- Japan
- China
- Europe
- France
- Germany
- Italy
- United Kingdom
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- Iran
- Israel
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East
- Africa
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/11mjem
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