Wearable Medical Devices: Technologies and Global Markets

Report Highlights

The global market for wearable medical devices should grow from $8.9 billion in 2018 to $29.9 billion by 2023 at a compound annual growth rate (CAGR) of 27.5% for the period of 2018-2023.

Report Includes

• 15 data tables and 16 additional tables
• An overview of the global markets for wearable medical devices
• Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
• Coverage of how these devices monitor blood sugar, glucose, and chronic diseases like heart diseases, diabetes, and various other parameters and provide local processing, feedbacks and reports, communication capabilities, and easy & timely sensing abilities
• Evaluation of factors, such as the large number of ongoing projects and innovations in the healthcare and electronics sectors, the rising incidences of chronic diseases among all demographics, the growing capabilities, and the ease of use of medical devices
• A look at how the market faces certain drawbacks, such as high costs of devices, issues in reimbursement, and lack of awareness in the developing countries, such as India, Brazil, and Mexico
• Profiles of major players in the industry, including Abbott Laboratories, Atlas, Fitbit, Philips Healthcare, GE Healthcare and Omron Corp.

Report Scope

This report is an update of a previous BCC Research report, HLC192A, published in January 2017. The goal of this updated report is to evaluate the recent developments in the wearable medical devices market, including technology, growth drivers and industry challenges in 2017 and 2018, to estimate the market, and to provide revenue forecasts for the global market from 2018 to 2023.

This report includes a detailed study on the wearable medical devices market and technologies and an overview of the epidemiology of target diseases for which wearable technology is currently used.

The market is segmented into devices that are used for diagnosis and monitoring, therapeutic devices, rehabilitation devices and devices that are used for health and fitness. Market characterization and market estimations along with future forecasts are discussed through 2023.

Global market drivers, restraints and opportunities that are impacting the market are also discussed, along with an analysis of the current competitive landscape, regulatory aspects, and the pricing and reimbursement scenario for wearable medical devices. Separate chapters on emerging technologies in the field, as well as a discussion on the future market outlook for the medical wearables industry, are included in the report. 

Geographically, the market is divided into North America, Europe, Asia-Pacific and the Rest of the World, and there is a discussion of the market size and growth potential in each region and in selected countries within the regions.

The report also profiles the leading players in the wearable medical devices market, along with related business, financial and product information of the individual companies.

This report excludes implantable and ingestible medical devices like pacemakers, implantable cardioverter defibrillators (ICD), smart pills that are ingested to monitor parameters like heart rate, blood pressure, pH and body temperature and implantable deep brain stimulators.

Estimated values used are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

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