Dublin, Feb. 04, 2022 (GLOBE NEWSWIRE) -- The "Global Connected Wearable Devices Market in Healthcare, Wellness, and Fitness by Device Type, Use Case, and Application 2022-2027" report has been added to ResearchAndMarkets.com's offering.
This report evaluates the current state of the wearable technology ecosystem including devices and applications within the medical, wellness, and fitness markets. The report addresses key challenges, market players, solutions, and the future of wearables in healthcare and related industries including fitness and wellbeing.
The report also provides an outlook for the future of wearable devices in medical, wellness, and fitness with forecasts for the period 2022 to 2027. This includes application analysis and forecasts by physiological activity and the role of wearables in elder care and assisted living.
There is great demand in the healthcare industry for remote monitoring and diagnostics. Driving factors include healthcare cost inflation coupled with a rapidly aging global population within the developed countries. For example, almost 25 percent of United States residents are projected to be age 65 or older by 2030.
In terms of product and service demand, over two-thirds of physicians see a strong need for gathering healthcare data remotely. A strong majority of healthcare providers overall also see value in instructing their patients to utilize connected wearable medical devices on a regular basis. This aligns with strong industry trends overall for remote monitoring.
Some of the biggest concerns, however, remain patient ability to properly use devices, reliability of data (which is partially impacted by the former), and false positives when it comes to alerts/alarming. Privacy and security of data remains an overall industry concern ranging from loss of personally identifiable information to device hacking.
Wearable devices for medical, wellness and fitness purposes are many and varied, consisting of various form factors depending on the purpose and placement of the human body. Wearable devices can be worn and/or integrated into apparel to become less intrusive. Sensors (biomechanical, motion, etc.) may be placed at specific parts of the body to communicate with an overall Body Area Network system.
Improving supply factors include improvements in electronics miniaturization and innovation leading to reduced device cost. R&D in wearable healthcare devices is leading to enhanced functionality, form factor improvements, and frictionless integration with the Internet of Things (IoT) systems and solutions.
Machine-to-Machine (M2M) communication enables wearable healthcare devices to communicate autonomously with monitoring systems for both real-time decision making and data gathering for future analysis. Secure M2M-enabled data transport and IoT system connectivity facilitates the integration of healthcare info with data analytics solutions.
One of the core reasons for wearables in healthcare is to transmit information for medical support from a licensed professional. However, there is also a market for "quantified self" in healthcare, which refers to the incorporation of technology into data acquisition on aspects of a person's daily life. This enables a "Do it Yourself" (DIY) tool for consumers to self-monitor and self-report important wellness items such as blood pressure. The alternative is to allow medical data to transmit to a trusted entity.
Advanced healthcare data management solutions, supported by artificial intelligence, are capable of processing massive amounts of healthcare information, including unstructured data acquired from many different sources and contexts. One of the challenges for the healthcare industry is tying these systems into healthcare devices in a manner in which data is leveraged while simultaneously preserving device security and end-user privacy.
Select Report Findings
- The global market for health and fitness trackers will reach $9.27 billion by 2027
- Privacy and security concerns continue to damper the market significantly at present
- Wearables are rapidly moving into the preventative care, diagnostics, and urgent care segment
- There is a need for efficient device tracking in terms of both care of custody for delivery as well as usage
- The medical device market is rapidly crossing over into the general health, fitness, and well-being category
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Wearable Technology Overview
2.2 Wearable Technology Supply and Demand Dynamics
2.3 Wearable Technology Market Opportunities
2.4 Wearable Technology Market Challenges
2.4.1 Security and Privacy Concerns
2.4.2 Function vs. Form Factors Challenges
2.4.3 Power Management Constraints
2.4.4 High R&D Costs = High Initial Price
2.4.5 Usage Restrictions Impedes Access
3. Wearable Technology Ecosystem
3.1 Wearable Technology Device and Application
3.1.1 Personal Health and Fitness Management
3.1.2 Personal Health Insurance
3.1.3 Prevention, Diagnosis, and Management of Disease
3.1.4 Healthcare and Medical Devices
3.1.5 Sports Performance Enhancement
3.2 Sensors in Wearable Systems
3.2.1 Flexible Sensors and Nano-sensors
3.2.2 Movement Sensors
3.2.3 Respiration Sensors
3.2.4 Piezoelectric Usage in Sensors
3.2.5 Skin Sensors
3.2.6 Thermal Sensors
3.2.7 Heart Rate Monitors
3.3 Wearables and Cloud Environment
3.4 Wearable Technology Adoption Factors
3.4.1 Enterprise Adoption Challenges
3.4.2 Industry Specific Factors
3.5 Wearable Device and Data Access Factors
3.6 Wearable Technology Future
3.6.1 Continued Growth in Fitness and Health
3.6.2 Importance of Aesthetics
3.6.3 Beyond Glasses, Fitness Bands, and Watches
3.6.4 Emergence of Ambient Internet of Things
3.6.5 Wearables, Data, and Analytics
3.6.6 Continued Downward Price Pressure
3.6.7 Expanding to Enterprise and Workplace
3.7 Wearable Technology Key Success Factors
3.8 Evolution of the Wearable Tech Ecosystem
4. Company Analysis
4.1 Xiaomi Corporation
4.2 Guangdong BBK Electronics Industry Co. Ltd.
4.3 Alphabet Inc.
4.4 Lifesense Group B.V.
4.5 Johnson & Johnson
4.6 Smiths Group plc
4.7 Roche Holding AG
4.8 Apple Inc.
4.9 Koninklijke Philips N.V
4.10 Qualcomm Inc.
4.11 Medtronic PLC
4.12 3L Labs
4.13 4iiii Innovations Inc.
4.14 Adidas America Inc.
4.15 Atlas Wearables Inc.
4.16 Avegant Corp.
4.17 BSX Insight
4.18 Casio America Inc.
4.19 ConnectDevice Holding Ltd.
4.20 DAQRI
4.21 Seiko Epson Corp.
4.22 FitBit Inc.
4.23 ActiveLinxx LLC
4.24 Foxtel
4.25 Free Wavz
4.26 Fujitsu
4.27 Garmin Ltd.
4.28 Glofaster
4.29 GOQii
4.30 Hovding
4.31 Huawei Technologies Co. Ltd.
4.32 iHealth Labs Inc.
4.33 StarVR Corp
4.34 Instabeat
4.35 Intel Corporation
4.36 Jawbone
4.37 Jaybird
4.38 Jumpy
4.39 Leapfrog Enterprises Inc.
4.40 LG Electronics
4.41 LifeBEAM (Vi Inc.)
4.42 Mio Labs
4.43 Misfit
4.44 Monster Inc.
4.45 Motorola
4.46 Nike Inc.
4.47 NTT Docomo Inc.
4.48 Oculus VR LLC
4.49 o-synce
4.50 Actofit Wearables
4.51 Polar Electro
4.52 Qardio Inc.
4.53 Recon Instruments
4.54 Reebok International Limited
4.55 Samsung Electronics Co. Ltd.
4.56 ShotTracker
4.57 Sony Corporation
4.58 Soundbrenner Limited
4.59 Sqord Inc.
4.60 Suunto
4.61 Thalmic Labs Inc.
4.62 Timex.com Inc.
4.63 Vandrico
4.64 Tobii AB
4.65 Vuzix
4.66 Weartrons Labs
4.67 Xensr
4.68 Zepp Inc.
4.69 ZTE Corporation
5. Market Analysis and Forecast 2022-2027
5.1 Global Wearable Device Market 2022-2027
5.2 Global Wearable Device Market in Healthcare, Sports and Fitness 2022-2027
5.3 Regional Wearable Device Market in Healthcare, Sports and Fitness 2022-2027
5.4 Global Wearable Device Deployment Unit 2022-2027
6. Conclusions and Recommendations
6.1 Future of Wearable Devices in Healthcare
6.1.1 Area of Concern: Privacy and Security
6.1.2 Area of Opportunity: Healthcare Data Analysis
6.2 Future Devices
6.2.1 Increased System and Device Integration
6.2.2 Implantable Medical Devices
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/bi9y0y
