ReportsnReports has recently added concise research on the “Medical Wearables Market” by Device (Vital Signs Monitoring, Blood Pressure Monitor, Glucose Monitor, ECG Monitor, Pulse Oximeter), Product (Smartwatch, Patches, Wristbands), End-User (Hospitals, Nursing Homes, Ambulatory) – Global Forecast to 2025
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The credible Medical Wearables Market report comprehensively studies market definition, market segmentation, competitive analysis and key developments in the market. This report has a lot to offer such as the general market conditions, trends, inclinations, key players, opportunities, geographical analysis and many other parameters that helps to take business towards growth and success.
Medical Wearables Market document is generated with the comprehension of business goals and needs to bridge the gap by delivering with the most appropriate and suitable solutions; which rises the company’s growth, by subsidizing the risk and improving their performance.
The global medical wearables marketis projected to reach USD 19.5 billion by 2025 from USD 7.4 billion in 2020, at a high CAGR of 21.4% during the forecast period of 2020 to 2025. The growing adoption of smartphones, increasing penetration of 3G/4G networks, growing geriatric population and rising focus on patient-centric healthcare delivery.
The prominent players in this market are
Medtronic plc (Ireland),
Apple, Inc. (US,
DexCom Inc. (US),
Masimo Corporation (US),
Koninklijke Philips N.V. (Netherlands),
iRthym Technologies Inc.(US),
Omron Corporation (Japan),
Bio-beat Technologies (Israel),
GE Healthcare (US),
Abbott Laboratories (US) and Vivalnk (US).
“Based on device type, the vital signs monitoring segment accounted for the largest share of the market in 2019.”
In 2019, the vital signs monitoring segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growing use of high-tech devices, which are compact, user-friendly, and come with a better graphical user interface for easy visibility of resulted data are helping to increase the market penetration of clinical-grade wearables.
These wearables are playing an integral role in treating and monitoring various medical conditions in patients and driving better health outcomes.
“Based on the product, the patches segment accounted for the largest share of the market in 2019.”
In 2019, the patches segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growth in the adoption of wearable technology is largely dependent on technological advancements and the ease of use.
In the past few years, the clinical-grade wearables market has benefited from the growing penetration of 3G and 4G connections across the globe.
“Based on end-user, Long-term care centers, nursing homes, and assisted-living facilities segment is expected to show the highest growth during the forecast period.”
The long-term care centers, nursing homes, and assisted-living facilities segment is expected to show the highest growth during the forecast period. The highest growth of this segment can be attributed to the increasing number of people requiring long-term care as a result of the rising geriatric population and the increasing incidence of chronic disorders.Population aging is poised to become one of the most significant social transformations of the twenty-first century, with implications for nearly all sectors of society, including labor and financial markets, the demand for goods and services, such as housing, transportation and social protection, as well as family structures and intergenerational ties.
“By region, North America accounted for the largest market share in 2019.”
In 2019, North America dominated the clinical-grade wearables market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America in the clinical-grade wearables market can be attributed to the high penetration of smartphones, tablets, and other mobile platforms, increasing prevalence of chronic diseases, development & adoption of innovative technologies, and rising government initiatives.
Breakdown of primary participants is as mentioned below:
- By Company Type: Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
- By Designation: C-level: 45%, Director-level: 30%, and Others: 25%
- By Region: North America: 35%, Europe: 30%, Asia Pacific: 25%, Latin America: 5%, and Middle East & Africa: 5%
The report analyzes the clinical-grade wearables market and aims at estimating the current size and future growth potential based on various segments, such as product & service and region. It also covers competitive leadership mapping, which helps in analyzing the position of key market companies as visionary leaders, innovators, dynamic players, and emerging players.
The report also provides a competitive analysis of the leading players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to access the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the clinical-grade wearables market. The report analyzes this market by product & service and region.
- Product Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the clinical-grade wearables industry.
- Market Development: Comprehensive information on the lucrative emerging markets by product & service and region.
- Market Diversification: Exhaustive information about new testing services, recent developments, and investments in the clinical-grade wearables industry.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, service offerings, and capabilities of leading players in the clinical-grade wearables market.
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Table Of Contents
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Markets Covered
1.2.2 Years Considered For The Study
2 Research Methodology
2.1 Research Approach
2.1.1 Secondary Research
188.8.131.52 Key Data From Secondary Sources
2.1.2 Primary Research
184.108.40.206 Key Data From Primary Sources
220.127.116.11 Breakdown Of Primaries
2.2 Market Size Estimation
2.2.1 Top-Down Approach
2.2.2 Growth Forecast
2.3 Data Triangulation Approach
2.4 Market Share Estimation
3 Market Overview
3.2 Market Dynamics
18.104.22.168 Increasing Awareness Of Fitness And Incidence Of Lifestyle Disorders
22.214.171.124 Advent Of Technologically Advanced Products
126.96.36.199 Growing Geriatric Population And Incidence Of Chronic Diseases
188.8.131.52 Cost-Containment In Healthcare Delivery
184.108.40.206 Robust Penetration Of 3g And 4g Networks For Uninterrupted Healthcare Services
220.127.116.11 Unfavorable Standards And Regulations
18.104.22.168 Accuracy, Standardization, And Analysis Of Wearable-Generated Data
22.214.171.124 Growing Adoption Of Mobile Platforms
126.96.36.199 Increasing Adoption Of Ai And 5g
188.8.131.52 Patent Protection Of Clinical-Grade Wearables
184.108.40.206 Lack Of Data Security And Concerns Over Data Theft And Healthcare Fraud
220.127.116.11 Limited Battery Life
18.104.22.168 Device Design Complexity
4 Industry Insights
4.1 Industry Trends
4.2 Oncology – The Next Frontier For Clinical-Grade Wearables
4.3 Future Trends In Clinical-Grade Wearables
4.4 Investments In Clinical-Grade Wearable Startups
5 Clinical-Grade Wearables Market, By Device Type
5.2 Vital Sign Monitoring Devices
5.2.1 Multiparameter Trackers
22.214.171.124 Increase In The Prevalence Of Chronic Diseases To Drive This Market Segment
5.2.2 Ecg/Holter/Heart Rate Monitors
126.96.36.199 Ecg Monitors Help Improve The Quality Of Care By Facilitating The Continuous Monitoring Of Patients—A Key Factor Driving Market Growth
5.2.3 Blood Pressure Monitors
188.8.131.52 Clinical-Grade Wearable Blood Pressure Monitors Form A Popular Category As These Devices Are Convenient To Use And Relatively Less Expensive
5.2.4 Pulse Oximeters
184.108.40.206 Growing Adoption Of Pulse Oximeters For Self-Monitoring Purposes To Drive Growth In This Market Segment
5.3 Glucose Monitoring Devices & Insulin Pumps
5.3.1 Growth In The Number Of Diabetics Propels The Adoption Of Blood Glucose Monitoring Devices
5.4 Fetal Monitoring & Obstetric Devices
5.4.1 Rise In The Number Of Preterm Births To Drive This Segment
5.5 Neuromonitoring Devices
5.5.1 Growing Prevalence Of Neurological Diseases To Drive This Segment
5.6 Sleep Monitoring Devices
5.6.1 Continuous Monitoring Of Sleep Patterns Helps Identify The Root Cause Of Sleep-Related Disorders, Thereby Aiding Proper Disease Management
6 Clinical-Grade Wearables Market, By Product
6.2.1 Ease Of Use, Convenience, Non-Invasiveness, And Compact Design Are Expected To Drive The Growth Of This Segment
6.3.1 Data Accuracy, Limited Battery Life, And Competition From Fitness Bands May Limit Market Growth To A Certain Extent
6.4 Activity Monitors & Wristbands
6.4.1 Increasing Prevalence Of Chronic Diseases Has Resulted In A Significant Increase In The Demand For Activity Monitors
6.5 Other Clinical-Grade Wearables
7 Clinical-Grade Wearables Market, By End User
7.2 Long-Term Care Centers, Assisted-Living Facilities, And Nursing Homes
7.2.1 Increasing Number Of People Requiring Long-Term Care As A Result Of The Rising Geriatric Population To Drive Market Growth
7.3.1 Leading Hospitals Are Using Wearable Technologies To Transform Resident Training And Emergency Medicine Communication, Which Provides Them With A Critical Advantage
7.4 Ambulatory Care Centers
7.4.1 The Shift Of Patient Care From Inpatient To Outpatient Settings Is Driving The Growth Of This End User Segment
7.5 Home Care Settings
7.5.1 Government Initiatives Are Expected To Support The Market Growth
8 Clinical-Grade Wearables Market, By Region
8.2 North America
220.127.116.11 In 2019, The Us Accounted For The Largest Share Of The Clinical-Grade Wearables Market In North America
18.104.22.168 Need To Curtail Escalating Healthcare Costs To Drive The Market In Canada
22.214.171.124 Need For Better And Improved Healthcare Services Will Drive The Adoption Of Clinical-Grade Wearables In Germany
8.3.3 Clinical-Grade Wearable Devices Have Witnessed High Penetration In The Uk
126.96.36.199 Use Of Telehealth Solutions And Services Through Big Data To Propel Market Growth
188.8.131.52 Increasing Government Initiatives For The Implementation Of Ehealth Technologies To Support Market Growth
184.108.40.206 Spain Has One Of The Highest Levels Of Mobile Phone Penetration In Europe
8.3.7 Rest Of Europe (Roe)
8.4 Asia Pacific
8.4.2 Japan Is A Highly Developed Market For Wireless Technologies With A Rapidly Evolving Mobile Healthcare Sector
8.4.4 Growing Focus Of Public & Private Players On Clinical-Grade Wearables Deployment In China To Drive Market Growth
8.4.6 Increasing Number Of Initiatives From Both Government Organizations And Private Players To Improve Access To Healthcare To Drive Market Growth
8.4.7 Rest Of Asia Pacific
8.5 Latin America
8.5.1 Increase In The Adoption Of Mobility Solutions In Brazil And Mexico To Drive Growth In The Clinical-Grade Wearables Market
8.6 Middle East & Africa
8.6.1 Government Investments In Building A Healthcare Mobility Framework In The Mea Region To Drive Market Growth
9 Competitive Landscape
9.2 Market Ranking Analysis
9.3 Competitive Leadership Mapping, 2019
9.3.1 Visionary Leaders
9.3.3 Emerging Companies
9.3.4 Dynamic Differentiators
9.4 Competitive Situation And Trends
9.4.1 New Product Launches & Enhancements
9.4.2 Partnerships, Collaborations, And Agreements
10 Company Profiles
10.1 Koninklijke Philips N.V.
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 Recent Developments
10.1.4 Mnm View
10.2 Medtronic Plc
10.2.1 Business Overview
10.2.2 Products Offered
10.2.3 Recent Developments
10.2.4 Mnm View
10.3 Omron Healthcare Co., Ltd. (A Part Of Omron Corporation)
10.3.1 Business Overview
10.3.2 Products Offered
10.3.3 Recent Developments
10.3.4 Mnm View
10.4 Biotelemetry, Inc.
10.4.1 Business Overview
10.4.2 Products Offered
10.4.3 Recent Developments
10.5 Apple, Inc.
10.5.1 Business Overview
10.5.2 Products Offered
10.5.3 Recent Developments
10.6 Ge Healthcare
10.6.1 Business Overview
10.6.2 Products Offered
10.6.3 Recent Developments
10.7 Abbott Laboratories
10.7.1 Business Overview
10.7.2 Products Offered
10.7.3 Recent Developments
10.8 Dexcom, Inc.
10.8.1 Business Overview
10.8.2 Products Offered
10.8.3 Recent Developments
10.9 Irhythm Technologies, Inc.
10.9.1 Business Overview
10.9.2 Irhythm Technologies, Inc.: Company Snapshot (2018)
10.9.3 Products Offered
10.10 Masimo Corporation
10.10.1 Business Overview
10.10.2 Products Offered
10.11 Preventice Solutions, Inc.
10.11.1 Business Overview
10.11.2 Products Offered
10.11.3 Recent Developments
10.12 Contec Medical Systems Co. Ltd.
10.12.1 Business Overview
10.12.2 Products Offered
10.13 Bio-Beat Technologies
10.13.1 Business Overview
10.13.2 Products Offered
10.13.3 Recent Developments
10.14.1 Business Overview
10.14.2 Products Offered
10.14.3 Recent Developments
10.15.1 Business Overview
10.15.2 Products Offered
10.15.3 Recent Developments
10.16 Biotricity Inc.
10.17 Verily Life Sciences (A Part Of Alphabet Inc.)
10.18 Cyrcardia Asia Limited
10.19 Ten3t Healthcare
10.20 Vivalnk, Inc.
11.1 Insights From Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
11.4 Related Reports
11.5 Author Details