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.
- Global Virtual Power Plant Market (EGY197A)
- Global Prenatal Testing Market (MDS103A)
- Companion Diagnostics: Technologies and Markets (BIO077F)
- Global Markets, Technologies and Materials for Thin and Ultrathin Films (SMC057D)
- Molecular Farming: Global Markets (CHM187A)
Report Highlights
The global market for wearable medical devices was valued at $4.8 billion in 2015. This market is expected to increase from $5.5 billion in 2016 to nearly $19.5 billion in 2021 at a compound annual growth rate (CAGR) of 28.8% for 2016-2021.
Report Includes
- An overview of the global markets for wearable medical devices
- Analyses of global market trends, with data from 2015, estimates for 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- 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.
Related Reports
mRNA: Therapeutics and Global Markets
The global market for mRNA therapeutics is expected to decline from $33 billion in 2023 to $21 billion by the end of 2028, at a compound annual growth rate (CAGR) of -8.6% during the forecast period of 2023-2028.
Internet of Things (IoT) Sensors in Healthcare: Global Markets and Technologies
The global market for internet of things (IoT) sensors in healthcare is estimated to increase from $2.9 billion in 2023 to reach $8.6 billion by 2028, at a compound annual growth rate (CAGR) of 24.6% from 2023 through 2028.
Global Markets for Catheters
The global market for catheters is estimated to increase from $30.8 billion in 2022 to reach $42.5 billion by 2027, at a compound annual growth rate (CAGR) of 6.6% from 2022 through 2027.
Digital Therapeutics: A New Age Medicine
The goal of this report is to understand the current digital therapeutics scenario and to assess the market’s growth potential. This study explores market dynamics that impact the growth of the market. The main objective of the study is to present a comprehensive analysis of the current market and the future direction of the market.
Recent Reports
Medical Magnetic Resonance Imaging (MRI): Technologies and Global Markets
The global market for medical magnetic resonance imaging (MRI) is expected to grow from $7.2 billion in 2023 and projected to reach $9.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 6.4% during the forecast period of 2023 to 2028.
Global Markets for Emerging Insulin Drug and Delivery Technologies: Focus on Syringes and Vials
The global market for emerging insulin drug delivery devices is expected to grow from $55.8 billion in 2023 and projected to reach $88.9 billion by the end of 2028, at a compound annual growth rate (CAGR) of 9.8% from 2023 through 2028.
Global Cleanroom Technology Market
The global market for cleanroom products is expected to grow from $7.5 billion in 2023 to $10.9 billion by the end of 2028, at a compound annual growth rate (CAGR) of 7.6% from 2023 through 2028.
Ophthalmic Devices, Diagnostics and Surgical Equipment: Global Markets
The global market for ophthalmic devices, diagnostics and surgical equipment is expected to grow from $32.5 billion in 2023 and forecast to reach $44.0 billion by the end of 2028, at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2028.
Microelectromechanical Systems (MEMS) in Global Medical Markets
The global market for microelectromechanical systems (MEMS) devices in medical applications is estimated to increase from $4.8 billion in 2023 to reach $7.2 billion by 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 through 2028.
Top Trending Reports
Cell and Gene Therapy Tools, and Reagents: Global Markets
The global market for cell and gene therapy tools and reagents is estimated to grow from $8.3 billion in 2022 to $13.7 billion in 2027, with a compound annual growth rate (CAGR) of 10.6% for the period of 2022-2027.
ESG Trends in Chemical Industry
This report focuses on the ESG trends in the chemical industry and evaluates the ESG implementation including current and future potential. The report utilizes various databases, including sustainability reports, annual reports, and other indicators used to develop the current market. The study provides detailed information on the main factors influencing ESG growth in the chemical industry. It enables the reader to understand the industry in general while also providing insight into the inter-relationship between ESG and the sustainable chemical industry. The report describes market growth, developing trends, industry leaders, and applications of ESG implementation in the chemical industry.
Digital Pathology: Technologies and Global Markets
The global digital pathology market is estimated to increase from $5.9 billion in 2022 to reach $10.7 billion by 2027, at a compound annual growth rate (CAGR) of 12.5% from 2022 through 2027.
Smartphone-Based Patient Monitoring: Global Market
The global smartphone-based patient monitoring market should reach $21.5 billion by 2027 from $6.8 billion in 2022 at a compound annual growth rate (CAGR) of 25.9% for the forecast period of 2022 to 2027.
Non-Fungible Tokens (NFT): Global Market
The global NFTs market should reach $37.6 billion by 2022 and $125.6 billion by 2027, with a compound annual growth rate (CAGR) of 27.3% during the forecast period of 2022-2027.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More