The global wearable healthcare devices market was valued at USD 14.3 billion in 2021 and it is anticipated to grow up to USD 45.8 billion by 2031, at a CAGR of 12.4% during the forecast period.
Global Wearable Healthcare Devices Market report from Global Insight Services is the single authoritative source of intelligence on Wearable Healthcare Devices Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Wearable healthcare devices is any kind of electronic device designed to be worn on the user’s body. Such devices can take many different forms, including jewelry, accessories, medical devices, and clothing or elements of clothing. Wearable technology in healthcare includes electronic devices that consumers can wear, like Fitbits and smartwatches, and are designed to collect the data of users’ personal health and exercise.
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Market Trends and Drivers
AI and 5G can be used to determine potential diagnoses and treatments for a specific patient. Furthermore, AI can help healthcare systems predict which patients are more likely to have postoperative complications, allowing them to intervene earlier. In general, real-time learning with a large volume of data necessitates dependable networks with high bandwidth. Healthcare organisations can use AI tools to provide the best care possible in real time, wherever they are, thanks to 5G networks. As a result, the use of emerging advanced tools and technologies such as AI and 5G can be expected to provide significant growth opportunities in the wearable healthcare devices market.
Market Segments
By Devices
- Activity/ Fitness Monitors
- Diabetes Devices
- Cardiac Monitors
- Neurological Monitors
By Application
- Cardiac Health
- Obesity Control
- Diabetes Care
- Fitness Monitoring
- Sleep Tracking
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Key Players
- Koninklijke Philips N.V. (Netherlands)
- Apple Inc. (US)
- GE Healthcare (US)
- Fitbit Inc. (US)
- Abbott Laboratories (US)
- OMRON Corporation (Japan)
- Garmin Ltd. (US)
- Dexcom Inc. (US)
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