Wearable Healthcare Devices Market Size, Share, Sales, Analysis, Forecast By Product (Diagnostic Devices, Therapeutic Devices And Respiratory Therapy Devices), By Site of Application (Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors And Others), By Distribution Channel (Offline And Online Distribution Channel), Industry Competition & Player Profiles, 2023 - 2032
The Global Wearable Healthcare Devices market stood at US$ 13.6 billion in 2021 and is expected to grow at 16.5% CAGR from 2023 to 2032.
Wearable healthcare devices are autonomous devices that perform a specific medical function such as heart rate monitoring, calorie burn monitoring, sweat monitoring, etc. These accessories can be worn either as an accessory or are integrated into clothing. These devices are equipped with physiological sensors, wireless data transmission capabilities, and data processing modules amongst others.
Increasing awareness amongst youngsters regarding fitness is creating new market opportunities for wearable healthcare devices manufacturers. The youngsters along with corporate employees are focusing more on the health parameters to stay fit and healthy. Companies are organizing healthcare camps such as yoga, aerobics, tournaments, and other fitness camps to create awareness among the employees.
Increasing the prevalence of chronic diseases such as diabetes, asthma, hypertension, and cardiovascular disease is creating new market opportunities for the wearable healthcare device market. These wearable devices offer a personalized experience to the consumers offering remote health monitoring without affecting the normal schedule of the individual. This has intensified the competition in the market and is expected to contribute towards the growth of the global wearable healthcare devices market during the forecast period.
North America contributed a dominating share to the global wearable healthcare devices market in terms of revenue and volume in 2019 and is expected to be dominating geography throughout the forecast period. Among the North American region, the U.S. holds the major market share among the other countries present in that region. The growing prevalence of chronic diseases such as diabetes and asthma is increasing the adoption of wearable healthcare devices across the region.
Increasing health concerns amongst the mid-aged and older groups are strengthening the wearable healthcare devices market across the region. These devices are making behavioral changes to exercise more, to be more active, track eating habits, track sleep, and manage weight amongst others. According to a press release by Fitbit, in 2017 Ireland topped the position among the fittest countries while the United Kingdom and Sweden scored the second and third positions.
Advancement of technology and telecom infrastructure across Europe is supporting the adoption of wearable healthcare devices that are multifunctional and equipped with sim cards to receive calls and receive and send text messages etc. These devices are connected to the phones and the company’s community through Wi-Fi or the internet that receives the different kinds of notification based on the food intakes, workout activities, heart rate notification, and updates of the software amongst others.
Wearable Healthcare Devices Market Share Analysis, by Geography (2022)
The report titled “Wearable Healthcare Devices Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global wearable healthcare devices market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global wearable healthcare devices market is segmented on the basis of product, site, distribution channel and geography. Based on product, the global wearable healthcare devices market is segmented into diagnostic devices, therapeutic devices and respiratory therapy devices. Based on site of application the global wearable healthcare devices market is segmented into handheld, headband, strap/clip/bracelet, shoe sensors and others. Based on the distribution channel, the global Wearable Healthcare Devices market is segmented into offline and online distribution channel. Based on geography, the global wearable healthcare devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Indonesia, Australia, South Korea, Taiwan, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on wearable healthcare devices. Further, market share of prominent companies in the global wearable healthcare devices market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the wearable healthcare devices companies. The global wearable healthcare devices market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the wearable healthcare devices business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global wearable healthcare devices market.
Major players active in the global wearable healthcare devices market include Huawei Corporation., Medtronic plc, Panasonic Corporation, Siemens AG, Fitbit Inc., Koninklijke Philips N.V., Animas Corporation- Johnson and Johnson, Bayer AG, Smiths Medical - A Smiths Group Company, Owlet Baby Care, OMRON Corporation, Hoffmann-La Roche Ltd and Rest Devices Inc., Apple, Inc., Garmin Ltd, Xiaomi Technologies.
Segmentation:
By Product:
- Diagnostic devices
- Therapeutic devices
- Respiratory therapy devices
By Site of Application:
- Handheld
- Headband
- Strap/clip/bracelet
- Shoe sensors
- Others
By Distribution Channel:
- Online
- Offline
By Geography :
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Wearable Healthcare Devices Market
- Global Wearable Healthcare Devices Market Qualitative Analysis
- Ecosystem Analysis
- Role of participants
- Integration scenario
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 5 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- Supply Demand Scenario
- Rules & Regulations
- Ecosystem Analysis
- Global Wearable Healthcare Devices Market Analysis and Forecast, by Product
- Overview and definitions
- Key segment analysis
- Global Wearable Healthcare Devices Market Estimates (US$ Mn, Units, US$), by Product Type, 2019 – 2032
- Diagnostic Devices
- Therapeutic Devices
- Respiratory Therapy Devices
- Global Wearable Healthcare Devices Market Analysis and Forecast, by Distribution Channel
- Overview and definitions
- Key segment analysis
- Global Wearable Healthcare Devices Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Offline
- Online
- Global Wearable Healthcare Devices Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Wearable Healthcare Devices Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Wearable Healthcare Devices Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Wearable Healthcare Devices Market Estimates (US$ Mn, Units, US$), by Product Type, 2019 – 2032
- Diagnostic Devices
- Therapeutic Devices
- Respiratory Therapy Devices
- North America Wearable Healthcare Devices Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Offline
- Online
- North America Wearable Healthcare Devices Market Estimates (US$ Mn), Country, 2019 – 2032
- The U.S.
- Canada
- Rest of North America
- Europe Wearable Healthcare Devices Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Wearable Healthcare Devices Market Estimates (US$ Mn, Units, US$), by Product Type, 2019 – 2032
- Diagnostic Devices
- Therapeutic Devices
- Respiratory Therapy Devices
- Europe Wearable Healthcare Devices Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Offline
- Online
- Europe Wearable Healthcare Devices Market Estimates (US$ Mn), Country, 2019 – 2032
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific Wearable Healthcare Devices Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Wearable Healthcare Devices Market Estimates (US$ Mn, Units, US$), by Product Type, 2019 – 2032
- Diagnostic Devices
- Therapeutic Devices
- Respiratory Therapy Devices
- Asia Pacific Wearable Healthcare Devices Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Offline
- Online
- Asia Pacific Wearable Healthcare Devices Market Estimates (US$ Mn), Country, 2019 – 2032
- Japan
- India
- China
- Taiwan
- Australia
- Rest of Asia Pacific
- Middle East & Africa Wearable Healthcare Devices Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle & Africa Wearable Healthcare Devices Market Estimates (US$ Mn, Units, US$), by Product Type, 2019 – 2032
- Diagnostic Devices
- Therapeutic Devices
- Respiratory Therapy Devices
- Middle & Africa Wearable Healthcare Devices Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Offline
- Online
- Middle East & Africa Wearable Healthcare Devices Market Estimates (US$ Mn), Country, 2019 – 2032
- Saudi Arabia
- UAE
- Rest of Middle East
- South America Wearable Healthcare Devices Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Wearable Healthcare Devices Market Estimates (US$ Mn, Units, US$), by Product Type, 2019 – 2032
- Diagnostic Devices
- Therapeutic Devices
- Respiratory Therapy Devices
- South America Wearable Healthcare Devices Market Estimates (US$ Mn), Distribution Channel, 2019 – 2032
- Offline
- Online
- South America Wearable Healthcare Devices Market Estimates (US$ Mn), Country, 2019 – 2032
- Brazil
- Rest of South America
- Competition Analysis – Wearable Healthcare Devices Market
- Market Composition
- Market Share Analysis (%), by Manufacturer (2022)
- Company Profiles
- Medtronic plc
- Business overview
- Management
- Geographic presence
- Product portfolio
- Financial facts
- Channel partners
- Relevant news and strategic view
- Huawei Corporation
- Panasonic Corporation
- Siemens AG
- Fitbit Inc.
- Koninklijke Philips N.V.
- Johnson and Johnson
- Bayer AG
- Smiths Medical
- Owlet Baby Care
- OMRON Corporation
- Hoffmann-La Roche Ltd
- Rest Devices Inc.
- Apple, Inc.
- Garmin Ltd
- Xiaomi Technologies
- Medtronic plc
- Conclusion & Recommendations
Frequently asked questions about this report
What was the market for wearable healthcare devices valued at in 2021?
The market for wearable healthcare devices, which was valued at US$ 13.6 billion in 2021
What is the Compound Annual Growth Rate (CAGR) of the wearable healthcare devices market through 2032?
The global wearable healthcare devices market is estimated to exhibit a CAGR of 16.5% CAGR from 2023 to 2032.
How is the regional performance of the wearable healthcare devices market?
North America contributed a dominating share to the global wearable healthcare devices market in terms of revenue and volume.
What are the factors driving the wearable healthcare devices market?
The youngsters along with corporate employees are focusing more on the health parameters to stay fit and healthy. Companies are organizing healthcare camps such as yoga, aerobics, tournaments, and other fitness camps to create awareness among the employees. Increasing the prevalence of chronic diseases such as diabetes, asthma, hypertension, and cardiovascular disease is creating new market opportunities for the wearable healthcare device market.
Who are the key players in wearable healthcare devices market?
Some key players operating in the wearable healthcare devices market include Huawei Corporation., Medtronic plc, Panasonic Corporation, Siemens AG, Fitbit Inc., Koninklijke Philips N.V., Animas Corporation- Johnson and Johnson, Bayer AG, Smiths Medical - A Smiths Group Company, Owlet Baby Care, OMRON Corporation, Hoffmann-La Roche Ltd and Rest Devices Inc., Apple, Inc., Garmin Ltd, Xiaomi Technologies.