Wearable Medical Devices Market Size By Device, By Application, By End-use, Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023

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Wearable Medical Devices Market is slated to grow exponentially through 2032, owing to the rising awareness around physical fitness. Furthermore, wearable medical device technology is expected to play a key role in the medical and health sectors owing to the constantly aging population and rising adoption of IoT devices. It has been projected that new technological developments and the introduction of innovative products in the market for wearable medical devices will accelerate the market expansion.

Besides, the COVID-19 pandemic has also accelerated the demand for measuring fitness at home with the help of wearable devices, which is further expected to accelerate the market expansion in the coming years.

The key players operating in the industry are also engaging in campaigns to educate the population and spread information regarding wearable technologies for fitness monitoring and maintenance. In addition, they are also focusing on developing a more connected healthcare system capable of monitoring health and fitness at home. For instance, Apple has recently introduced advanced health sensors in the Apple Watch Series 8 that help understand health better.

Overall, the wearable medical devices market is divided in terms of device, application, end-use, and region.

By device, the diabetes devices segment is expected to reach over USD 140 billion by 2032 end, owing to the rising incidences of diabetes along with the surging geriatric population pool, obesity, and unhealthy lifestyle habits.

Based on application, the diabetes care segment held the leading market share of approximately 45% in 2022 and is anticipated to grow considerably through 2032. The growth will be majorly accredited to the increasing pool of geriatric population more prone to diabetes and prediabetic conditions.

Considering the end-use, the home healthcare segment is slated to expand considerably through 2032, owing to the rising prevalence of chronic illnesses. Wearable medical devices enable patients to gather their health information at home using remote patient monitoring equipment such connected medical devices. This allows clinicians to access the information, further paving the way for segmental expansion.

Regionally, the North America wearable medical devices market held a market share of over 27.5% in 2022 and is poised to grow considerably over the forecast timeframe. Rising healthcare spending, increasing disposable income, and rapid urbanization are key factors influencing the market landscape in the region. In addition, the North American population is becoming increasingly interested in wellness and fitness to maintain good health, which is anticipated to propel market growth regionally.

Product Code: 3509

Chapter 1 Methodology & Scope

1.1 Methodology
1.2 Base estimates and calculations
- 1.2.1 North America
- 1.2.2 Europe
- 1.2.3 Asia Pacific
- 1.2.4 Latin America
- 1.2.5 MEA
1.3 Forecast calculations
1.4 Data validation
1.5 Data sources
- 1.5.1 Secondary
  - 1.5.1.1 Paid sources
  - 1.5.1.2 Unpaid sources
- 1.5.2 Primary

Chapter 2 Executive Summary

2.1 Wearable medical devices market industry 360 degree synopsis, 2018 - 2032
- 2.1.1 Business trends
- 2.1.2 Device trends
- 2.1.3 Application trends
- 2.1.4 End-use trends
- 2.1.5 Regional trends

Chapter 3 Wearable Medical Devices Industry Insights

3.1 Industry segmentation
3.2 Industry ecosystem analysis
- 3.2.1 Vendor Matrix
- 3.2.2 Distribution channel analysis
- 3.2.3 Profit margin trends
3.3 Raw material analysis
- 3.2.1 Polyethylene (LDPE, HDPE)
- 3.2.2 Silicone
- 3.2.3 Polyester (PET)
- 3.2.4 Polyurethane (PUR)
3.3 Pricing analysis 2018 - 2032
- 3.3.1 Pricing analysis, by region
  - 3.3.1.1 North America
  - 3.3.1.2 Europe
  - 3.3.1.3 Asia Pacific
  - 3.3.1.4 Latin America
  - 3.3.1.5 Middle East & Africa
3.4 Cost structure analysis
- 3.4.1 Component/material costs
- 3.4.2 Manufacturing & labour costs
- 3.4.3 Utilities
- 3.4.4 Maintenance cost
- 3.4.5 Finance cost
- 3.4.6 Administration cost
- 3.4.7 Others
3.5 Industry impact forces
- 3.5.1 Growth drivers
  - 3.5.1.1 Increasing awareness about physical fitness and wearable devices among the population in developing countries
  - 3.5.1.2 Growing prevalence of chronic diseases globally
  - 3.5.1.3 Technological advancements in wearable devices
  - 3.5.1.4 Rising disposable income and healthcare expenditure in emerging countries
- 3.5.2 Industry pitfalls & challenges
  - 3.5.2.1 Issues related with data security
  - 3.5.2.2 Cost-intensive nature of wearable devices
3.6 Growth potential analysis
- 3.6.1 By device
- 3.6.2 By application
- 3.6.3 By end-use
3.7 COVID- 19 impact analysis
3.8 Regulatory landscape
- 3.8.1 U.S.
- 3.8.2 Europe
3.9 Technology landscape
3.10 Industry eco-system
- 3.10.1 Current trends in the industry
- 3.10.2 Start-up scenario
3.11 Porter's analysis
- 3.11.1 Bargaining power of suppliers
- 3.11.2 Bargaining power of buyers
- 3.11.3 Threat of new entrants
- 3.11.4 Threat of substitutes
- 3.11.5 Industry rivalry
3.12 PESTEL analysis
- 3.12.1 Political
- 3.12.2 Economical
- 3.12.3 Social
- 3.12.4 Technological
- 3.12.5 Environmental
- 3.12.6 Legal

Chapter 4 Competitive landscape

4.1 Introduction
4.2 Company market share, 2021
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategic outlook matrix

Chapter 5 Wearable Medical Devices Market, By Device

5.1 Key device trends
5.2 Activity/fitness monitors
5.3 Diabetes devices
5.4 Cardiac monitors
5.5 Neurological monitors
5.6 Respiratory monitors
5.7 Body & temperature monitors
5.8 Hearing aids
5.9 Others

Chapter 6 Wearable Medical Devices Market, By Application

6.1 Key application trends
6.2 Cardiac health
6.3 Obesity control
6.4 Diabetes care
6.5 Fitness monitoring
6.6 Sleep tracking
6.7 Gene therapy
6.8 Others

Chapter 7 Wearable Medical Devices Market, By End-use

7.1 Key end-use trends
7.2 Home healthcare
7.3 Remote patient monitoring
7.4 Fitness and sports

Chapter 8 Wearable Medical Devices Market, By Region

8.1 Key regional trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Russia
- 8.3.7 Poland
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 Australia
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
8.6 Middle East & Africa
- 8.6.1 South Africa
- 8.6.2 Saudi Arabia
- 8.6.3 UAE

Chapter 9 Company Profiles

9.1 Abbott laboratories
9.2 Apple Inc.
9.3 Fitbit, Inc.
9.4 Garmin Ltd.
9.5 Hocoma AG
9.6 Lifesense
9.7 BioTelemetry Inc. (LifeWatch)
9.8 Koninklijke Philips N.V.
9.9 Samsung
9.10 Xiaomi Corporation
9.11 Sotera Wireless, Inc.
9.12 VitalConnect