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Market Research Report

Connected Wearable Devices in Healthcare: Wearables in Medical, Wellness and Fitness Markets by Device Type, Body Area, Solution Type (Prevention, Monitoring and Treatment) and Health Concerns 2019 - 2024

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Connected Wearable Devices in Healthcare: Wearables in Medical, Wellness and Fitness Markets by Device Type, Body Area, Solution Type (Prevention, Monitoring and Treatment) and Health Concerns 2019 - 2024
Published: February 5, 2019 Content info: 248 Pages
Description

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, 20 percent of United States residents are projected to be age 65 or older by 2030. 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 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 integration of healthcare info with data analytics solutions. 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 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.

Wearable devices for medical, wellness, and fitness purposes are many and varied, consisting of various form factors depending on the purpose and placement on the human body. Wearable devices can 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.

Looking beyond simply wearables is the emerging area of "implantables" (e.g. devices implanted within the body). This includes everything from pacemakers to devices that monitor key wellness levels within the body such as blood-sugar, reducing or illuminating the need for direct patient involvement. Miniaturization of monitoring devices and power sources has opened up new opportunities for wearable and implantable technologies. This is especially true in the field of healthcare, an industry that is in great need for mass-personalization at efficient and effective scale and scope.

This report evaluates the current state of the wearable technology ecosystem including devices, applications, and services within the medical, wellness, and fitness markets. The report addresses key challenges, market players, and solutions. The report also provides an outlook for the future of wearable devices in medical, wellness, and fitness with forecasts for the period 2019 - 2024. This includes insights and opinions about the future of wearable technology in healthcare including future devices (such as implantables), IoT integration, and advanced data management.

Select Report Findings:

  • The healthcare related skin patches market will reach $630M by 2024, growing at 20.2% CAGR
  • Wearable devices for vital signs monitoring will be $980M market by 2024, growing at 21.7% CAGR
  • Areas of concern are data security and privacy as well as opportunities for advanced data analytics
  • One of the key growth areas for wearable healthcare devices integration is implantable medical technology
  • Remote data collection solutions will substantially enhance the operational efficiency of healthcare services
  • Wearable devices and IoT will reduce human intervention in healthcare, enabling context-based automation

Target Audience:

  • IoT app and service providers
  • Health and fitness companies
  • Wireless device manufacturers
  • Consumer electronics companies
  • Wearable technology developers
  • Embedded computing companies
  • Wireless service providers of all types
Table of Contents

Table of Contents

1 Executive Summary

2 Introduction

  • 2.1 Wearable Technology Perspective
  • 2.2 Wearable Technology Market: Demand vs. Supply Side
  • 2.3 Wearable Technology Market Opportunities
  • 2.4 Wearable Technology Market Constraints
    • 2.4.1 Design as Constraints
    • 2.4.2 High Power Consumption
    • 2.4.3 High Investment Cost and High Price
    • 2.4.4 Lack Network Security and Data Privacy
    • 2.4.5 Usage Restrictions

3 Wearable Technology Ecosystem

  • 3.1 Wearable Technology Device and Application
    • 3.1.1 Personal Health and Fitness Management
    • 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 (IoT)
    • 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 Wearable Devices in Medical, Wellness, and Fitness Market Forecasts

  • 4.1 Wearable Device Revenue Forecasts 2019 - 2024
    • 4.1.1 Total Wearable Technology Market
    • 4.1.2 Wearable Technology Market by Segment
  • 4.2 Wearable Device Deployment Forecast 2019 - 2024
    • 4.2.1 Total Wearable Device Unit Shipments
    • 4.2.2 Wearable Device Unit Shipment by Device Type
    • 4.2.3 Wearable Device Unit Shipment by OS
    • 4.2.4 Wearable Device Unit Shipment by Types

5 Company Analysis

  • 5.1 Xiaomi Technology Co. Ltd.
  • 5.2 Guangdong BBK Electronics Industry Co. Ltd
  • 5.3 Alphabet Inc.
  • 5.4 Lifesense Group B.V.
  • 5.5 Johnson & Johnson
  • 5.6 Smiths Group plc
  • 5.7 Roche Holding AG
  • 5.11 Medtronic PLC
  • 5.15 Amiigo
  • 5.34 StarVR Corp
  • 5.40 Leapfrog Enterprises Inc.
  • 5.41 LG Electronics
  • 5.42 LifeBEAM Inc.
  • 5.43 Meta Company
  • 5.44 Mio Global
  • 5.45 Misfit
  • 5.46 Monster Inc.
  • 5.47 Motorola
  • 5.48 Nike Inc.
  • 5.49 NTT Docomo Inc.
  • 5.50 Oculus VR LLC
  • 5.51 o-synce
  • 5.52 Actofit Wearables
  • 5.53 Pebble
  • 5.54 Polar Electro
  • 5.55 Qardio Inc.
  • 5.56 Recon Instruments
  • 5.57 Reebok International Limited
  • 5.58 Samsung Electronics Co. Ltd.
  • 5.59 ShotTracker
  • 5.60 Sony Corporation
  • 5.61 Soundbrenner Limited
  • 5.62 Sqord Inc.
  • 5.63 Suunto
  • 5.64 Thalmic Labs Inc.
  • 5.65 Timex.com Inc.
  • 5.66 Tlink
  • 5.67 Tobii AB
  • 5.68 Vuzix
  • 5.69 Weartrons Labs
  • 5.70 Xensr
  • 5.71 Zepp US Inc.
  • 5.72 ZTE Corporation

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

Figures

  • Figure 1: Wearable Technology and the Human Body
  • Figure 2: Wearable Technology Ecosystem
  • Figure 3: IoT Dashboard and Wearable Technology
  • Figure 4: Smartphone Alert of Blocked IoT Connection Attempt
  • Figure 5: Smart Watch Alert of Blocked IoT Connection Attempt
  • Figure 6: Wearable Technology Communication Evolution
  • Figure 7: Global Wearable Technology Market 2019 - 2024
  • Figure 8: Global Wearable Technology Market Yearly Growth Rate 2019 - 2024
  • Figure 9: Global Wearable Device Unit Shipments 2019 - 2024
  • Figure 10: Global Wearable Device Unit Shipments Yearly Growth Rate 2019 - 2024
  • Figure 11: Implantable Healthcare Devices

Tables

  • Table 1: Global Wearable Technology Market by Segment 2019 - 2024
  • Table 2: Market Share of Global Wearable Technology Market by Segment
  • Table 3: Global Wearable Technology Market by Hardware Segment 2019 - 2024
  • Table 4: Market Share of Global Wearable Technology Market by Hardware Segment
  • Table 5: Global Wearable Technology Market by Device Type 2019 - 2024
  • Table 6: Market Share of Global Wearable Technology Market by Device Type
  • Table 7: Global Wearable Technology Market by Wristwear Product 2019 - 2024
  • Table 8: Market Share of Global Wearable Technology Market by Wristwear Product
  • Table 9: Global Wearable Technology Market by Headwear and Eyewear Product 2019 - 2024
  • Table 10: Market Share of Global Wearable Technology Market by Headwear and Eyewear Product
  • Table 11: Global Wearable Technology Market by Footwear Product 2019 - 2024
  • Table 12: Market Share of Global Wearable Technology Market by Footwear Product
  • Table 13: Global Wearable Technology Market by Neckwear Product 2019 - 2024
  • Table 14: Market Share of Global Wearable Technology Market by Neckwear Product
  • Table 15: Global Wearable Technology Market by Bodywear Product 2019 - 2024
  • Table 16: Market Share of Global Wearable Technology Market by Bodywear Product
  • Table 17: Global Wearable Technology Market by Medical Device Type 2019 - 2024
  • Table 18: Market Share of Global Wearable Technology Market by Medical Device Type
  • Table 19: Global Wearable Technology Market by Diagnostic Product 2019 - 2024
  • Table 20: Market Share of Global Wearable Technology Market by Diagnostic Product
  • Table 21: Global Wearable Technology Market by Vital Sign Monitoring Product 2019 - 2024
  • Table 22: Market Share of Global Wearable Technology Market by Vital Sign Monitoring Product
  • Table 23: Global Wearable Technology Market by Therapeutic Product 2019 - 2024
  • Table 24: Market Share of Global Wearable Technology Market by Therapeutic Product
  • Table 25: Global Wearable Technology Market by Pain Management Product 2019 - 2024
  • Table 26: Market Share of Global Wearable Technology Market by Pain Management Product
  • Table 27: Global Wearable Technology Market by Diabetic Product 2019 - 2024
  • Table 28: Market Share of Global Wearable Technology Market by Diabetic Product
  • Table 29: Global Wearable Technology Market by Rehabilitation Product 2019 - 2024
  • Table 30: Market Share of Global Wearable Technology Market by Rehabilitation Product
  • Table 31: Global Wearable Technology Market by Respiratory Product 2019 - 2024
  • Table 32: Market Share of Global Wearable Technology Market by Respiratory Product
  • Table 33: Global Wearable Medical Device Market by Use Type 2019 - 2024
  • Table 34: Market Share of Global Wearable Medical Device Market by Use Type
  • Table 35: Global Wearable Medical Device Market by Distribution Channel 2019 - 2024
  • Table 36: Market Share of Global Wearable Medical Device Market by Distribution Channel
  • Table 37: Global Wearable Technology Market by Skin Patches Product 2019 - 2024
  • Table 38: Market Share of Global Wearable Technology Market by Skin Patches Product
  • Table 39: Global Wearable Technology Market by Other Wearable Product 2019 - 2024
  • Table 40: Market Share of Global Wearable Technology Market by Other Wearable Product
  • Table 41: Global Wearable Technology Market by Component Type 2019 - 2024
  • Table 42: Market Share of Global Wearable Technology Market by Component Type
  • Table 43: Global Wearable Technology Market by Software Type 2019 - 2024
  • Table 44: Market Share of Global Wearable Technology Market by Software Type
  • Table 45: Global Wearable Technology Market by OS Solution Type 2019 - 2024
  • Table 46: Market Share of Global Wearable Technology Market by OS Solution Type
  • Table 47: Global Wearable Technology Market by Fitness and Wellness Application 2019 - 2024
  • Table 48: Market Share of Global Wearable Technology Market by Fitness and Wellness Application
  • Table 49: Global Wearable Technology Market by Sports Application 2019 - 2024
  • Table 50: Market Share of Global Wearable Technology Market by Sports Application
  • Table 51: Global Wearable Technology Market by Healthcare and Medical Application 2019 - 2024
  • Table 52: Market Share of Global Wearable Technology Market by Healthcare and Medical Application
  • Table 53: Global Wearable Healthcare and Medical Market by Clinical Application 2019 - 2024
  • Table 54: Market Share of Global Wearable Healthcare and Medical Market by Clinical Application
  • Table 55: Global Wearable Medical Market by Nonclinical Application 2019 - 2024
  • Table 56: Market Share of Global Wearable Medical Market by Nonclinical Application
  • Table 57: Global Wearable Device Unit Shipment by Device Type 2019 - 2024
  • Table 58: Market Share of Global Wearable Device Unit Shipment by Device Type
  • Table 59: Global Wearable Device Unit Shipment by Wristwear Device 2019 - 2024
  • Table 60: Market Share of Global Wearable Device Unit Shipment by Wristwear Device
  • Table 61: Global Wearable Device Unit Shipment by Headwear and Eyewear Device 2019 - 2024
  • Table 62: Market Share of Global Wearable Device Unit Shipment by Headwear and Eyewear Device
  • Table 63: Global Wearable Device Unit Shipment by Footwear Device 2019 - 2024
  • Table 64: Market Share of Global Wearable Device Unit Shipment by Footwear Device
  • Table 65: Global Wearable Device Unit Shipment by Neckwear Device 2019 - 2024
  • Table 66: Market Share of Global Wearable Device Unit Shipment by Neckwear Device
  • Table 67: Global Wearable Device Unit Shipment by Bodywear Device 2019 - 2024
  • Table 68: Market Share of Global Wearable Device Unit Shipment by Bodywear Device
  • Table 69: Global Wearable Device Unit Shipment by Medical Device 2019 - 2024
  • Table 70: Market Share of Global Wearable Device Unit Shipment by Medical Device
  • Table 71: Global Wearable Device Unit Shipment by Diagnostic Device 2019 - 2024
  • Table 72: Market Share of Global Wearable Device Unit Shipment by Diagnostic Device
  • Table 73: Global Wearable Device Unit Shipment by Vital Sign Monitoring Device 2019 - 2024
  • Table 74: Market Share of Global Wearable Device Unit Shipment by Vital Sign Monitoring Device
  • Table 75: Global Wearable Device Unit Shipment by Therapeutic Device 2019 - 2024
  • Table 76: Market Share of Global Wearable Device Unit Shipment by Therapeutic Device
  • Table 77: Global Wearable Device Unit Shipment by Pain Management Device 2019 - 2024
  • Table 78: Market Share of Global Wearable Device Unit Shipment by Pain Management Device
  • Table 79: Global Wearable Device Unit Shipment by Diabetic Device 2019 - 2024
  • Table 80: Market Share of Global Wearable Device Unit Shipment by Diabetic Device
  • Table 81: Global Wearable Device Unit Shipment by Rehabilitation Device 2019 - 2024
  • Table 82: Market Share of Global Wearable Device Unit Shipment by Rehabilitation Device
  • Table 83: Global Wearable Device Unit Shipment by Respiratory Device 2019 - 2024
  • Table 84: Market Share of Global Wearable Device Unit Shipment by Respiratory Device
  • Table 85: Global Wearable Device Unit Shipment by Skin Patches Product 2019 - 2024
  • Table 86: Market Share of Global Wearable Device Unit Shipment by Skin Patches Product
  • Table 87: Global Wearable Device Unit Shipment by Other Wearable Device 2019 - 2024
  • Table 88: Market Share of Global Wearable Device Unit Shipment by Other Wearable Device
  • Table 89: Global Wearable Device Unit Shipment by OS 2019 - 2024
  • Table 90: Market Share of Global Wearable Device Unit Shipment by OS
  • Table 91: Global Wearable Device Unit Shipment by Types 2019 - 2024
  • Table 92: Market Share of Global Wearable Device Unit Shipment by Types
  • Table 93: Global Wearable Device Unit Shipment by Smart Textile Types 2019 - 2024
  • Table 94: Market Share of Global Wearable Device Unit Shipment by Smart Textile Types
  • Table 95: Global Wearable Device Unit Shipment by Fitness and Wellness Application 2019 - 2024
  • Table 96: Market Share of Global Wearable Device Unit Shipment by Fitness and Wellness Application
  • Table 97: Global Wearable Device Unit Shipment by Sports Application 2019 - 2024
  • Table 98: Market Share of Global Wearable Device Unit Shipment by Sports Application
  • Table 99: Global Wearable Device Unit Shipment by Medical Application 2019 - 2024
  • Table 100: Market Share of Global Wearable Device Unit Shipment by Medical Application
  • Table 101: Global Wearable Device Unit Shipment by Clinical Application 2019 - 2024
  • Table 102: Market Share of Global Wearable Device Unit Shipment by Clinical Application
  • Table 103: Global Wearable Device Unit Shipment by Nonclinical Application 2019 - 2024
  • Table 104: Market Share of Global Wearable Device Unit Shipment by Nonclinical Application
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