Global wearable medical devices market stood at USD17.31 billion in 2020 and is expected to grow at a robust rate of 18.82% during the forecast period. The global wearable medical devices market is driven by the growing geriatric population which is susceptible to various chronic diseases such as diabetes, cardiovascular diseases, cancer, among others. This has drastically increased the patient pool requiring diagnosis, treatment and monitoring of their health conditions. This in turn is expected to increase the demand for various wearable medical devices used for health monitoring and diagnosis thereby positively influencing the market growth over the next few years.

Besides, technological advancements and adoption of AI, IoT, cloud computing, among others in medical devices and healthcare is expected to bring about innovations in wearable medical devices segment thereby propelling the market growth over the next few years. Furthermore, advancements in telecommunication industry such as 3G, 4G and 5G services is expected to fuel the market growth. Also, growing supportive government policies for promoting digital health is expected to spur the market growth during the forecast period.

The global wearable medical devices market is segmented based on product type, type, purpose, site, application, distribution channel, business segment, company and region. Based on product type, the market can be fragmented into activity monitors/trackers, smartwatches, patches, and smart clothing. Among these, the activity monitors/trackers type dominated the overall market in 2020 with a share of around 54.25% on account of the growing prevalence of chronic diseases and lifestyle associated diseases. Furthermore, the growth in this market segment can also be attributed to the growing awareness among the population worldwide pertaining to maintaining health. This has led to an increasing adoption of self-monitoring of vital organs.

Additionally, activity monitors/trackers are cost effective, and easy to use, etc. Also, the presence of large number of companies manufacturing activity trackers/monitors worldwide is expected to drive the segmental growth over the next five years. Based on distribution channel, the market can be bifurcated into non-store-based and store-based. The non-store-based segment dominated the market in 2020 with a market share of around 69.87%. This can be ascribed to the growing internet proliferation and emergence of several e-commerce platforms selling wearable medical devices online.

Regionally, the wearable medical devices market has been segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Among these regions, North America is expected to dominate the market in 2020 with 37.45% share owing to the increasing smartphones and internet proliferation. Additionally, growing consumer demand for wearable devices with which they can monitor their health especially fitness is expected to spur the market growth significantly in the region over the forecast period.

Major players operating in the global wearable medical devices market include Apple, Inc., Abbott Laboratories, Inc., Dexcom Inc., Fitbit Inc., LG Electronics Inc. and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions. For instance, in 2020, Fitbit Inc., launched an activity tracker, Fitbit Charge 4. Fitbit charge 4 makes every minute count and helps the users reach their goals with deeper understanding of their body and activity. It has an inbuilt GPS system with up to 7-days battery life. The device provides workout intensity map, sleep quality analysis, and personalized heart rate zones, among others.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

  • To analyze the historical growth in the market size of global wearable medical devices market from 2016 to 2020.
  • To estimate and forecast the market size of global wearable medical devices market from 2021 to 2026 and growth rate until 2026.
  • To classify and forecast global wearable medical devices market based on product type, type, purpose, site, application, distribution channel, business segment, company and regional distribution.
  • To identify dominant region or segment in the global wearable medical devices market.
  • To identify drivers and challenges for global wearable medical devices market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global wearable medical devices market.
  • To identify and analyze the profile of leading players operating in global wearable medical devices market.
  • To identify key sustainable strategies adopted by market players in global wearable medical devices market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of global wearable medical devices market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Attribute

Details

Base Year

2020

Historical Years

2016 – 2019

Estimated Year

2021

Forecast Period

2022 – 2026

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2016-2020 and 2021-2026

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered
  • Type
  • Product Type
  • Purpose
  • Site
  • Application
  • Distribution Channel
  • Business Segment

Regional Scope

North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa

Country Scope

United States; Canada; Mexico; China; India; Japan; Australia; South Korea; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Kuwait

Key Companies Profiled

Abbott Laboratories, Inc., Dexcom Inc., Fitbit Inc., LG Electronics Inc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Target Audience:

  • Wearable medical devices manufacturers, suppliers, distributors and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to wearable medical devices
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global wearable medical devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Wearable Medical Devices Market, By Product Type:
    • Activity Monitors/Trackers
    • Smartwatches
    • Patches
    • Smart Clothing
  • Global Wearable Medical Devices Market, By Type:
    • Diagnostic Devices
    • Therapeutic Devices
  • Global Wearable Medical Devices Market, By Purpose:
    • Heart Rate
    • Physical Activities
    • Blood Oxygen Saturation
    • Blood Pressure
    • Hearing Aids
    • Body Temperature
    • Posture
    • Others
  • Global Wearable Medical Devices Market, By Site:
    • Strap/Clip/Bracelet
    • Handheld
    • Headband
    • Shoe Sensors
    • Others
  • Global Wearable Medical Devices Market, By Application:
    • General Health & Fitness
    • Remote Patient Monitoring
    • Home Healthcare
  • Global Wearable Medical Devices Market, By Distribution Channel:
    • Non-Store-Based
    • Store-Based
  • Global Wearable Medical Devices Market, By Business Segment:
    • B2C
    • B2B
  • Global Wearable Medical Devices Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Kuwait

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global wearable medical devices market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Wearable Medical Devices Market

4.    Executive Summary

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Popular Wearable Medical Device Products

5.3.  Vendor Satisfaction Analysis

6.    Global Wearable Medical Devices Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Product Type (Activity Monitors/Trackers, Smartwatches, Patches, Smart Clothing)

6.2.2.     By Type (Diagnostic Devices v/s Therapeutic Devices)

6.2.3.     By Purpose (Heart Rate, Physical Activities, Blood Oxygen Saturation, Blood Pressure, Hearing Aids, Body Temperature, Posture, Others)

6.2.4.     By Site (Strap/Clip/Bracelet, Handheld, Headband, Shoe Sensors, Others)

6.2.5.     By Application (General Health & Fitness, Remote Patient Monitoring, Home Healthcare)

6.2.6.     By Distribution Channel (Store-Based v/s Non-Store-Based)

6.2.7.     By Business Segment (B2C v/s B2B)

6.2.8.     By Company (2020)

6.2.9.     By Region

6.3.  Product Market Map

7.    North America Wearable Medical Devices Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Product Type

7.2.2.     By Type

7.2.3.     By Purpose

7.2.4.     By Site

7.2.5.     By Application

7.2.6.     By Distribution Channel

7.2.7.     By Business Segment

7.2.8.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Wearable Medical Devices Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Product Type

7.3.1.2.2.             By Type

7.3.1.2.3.             By Application

7.3.1.2.4.             By Distribution Channel

7.3.2.     Canada Wearable Medical Devices Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Product Type

7.3.2.2.2.             By Type

7.3.2.2.3.             By Application

7.3.2.2.4.             By Distribution Channel

7.3.3.     Mexico Wearable Medical Devices Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Product Type

7.3.3.2.2.             By Type

7.3.3.2.3.             By Application

7.3.3.2.4.             By Distribution Channel

8.    Europe Wearable Medical Devices Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Product Type

8.2.2.     By Type

8.2.3.     By Purpose

8.2.4.     By Site

8.2.5.     By Application

8.2.6.     By Distribution Channel

8.2.7.     By Business Segment

8.2.8.     By Country

8.3.  Europe: Country Analysis

8.3.1.     Germany Wearable Medical Devices Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Product Type

8.3.1.2.2.             By Type

8.3.1.2.3.             By Application

8.3.1.2.4.             By Distribution Channel

8.3.2.     France Wearable Medical Devices Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Product Type

8.3.2.2.2.             By Type

8.3.2.2.3.             By Application

8.3.2.2.4.             By Distribution Channel

8.3.3.     United Kingdom Wearable Medical Devices Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Product Type

8.3.3.2.2.             By Type

8.3.3.2.3.             By Application

8.3.3.2.4.             By Distribution Channel

8.3.4.     Italy Wearable Medical Devices Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Product Type

8.3.4.2.2.             By Type

8.3.4.2.3.             By Application

8.3.4.2.4.             By Distribution Channel

8.3.5.     Spain Wearable Medical Devices Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Product Type

8.3.5.2.2.             By Type

8.3.5.2.3.             By Application

8.3.5.2.4.             By Distribution Channel

9.    Asia-Pacific Wearable Medical Devices Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Product Type

9.2.2.     By Type

9.2.3.     By Purpose

9.2.4.     By Site

9.2.5.     By Application

9.2.6.     By Distribution Channel

9.2.7.     By Business Segment

9.2.8.     By Country

9.3.  Asia-Pacific: Country Analysis

9.3.1.     China Wearable Medical Devices Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Product Type

9.3.1.2.2.             By Type

9.3.1.2.3.             By Application

9.3.1.2.4.             By Distribution Channel

9.3.2.     India Wearable Medical Devices Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Product Type

9.3.2.2.2.             By Type

9.3.2.2.3.             By Application

9.3.2.2.4.             By Distribution Channel

9.3.3.     Japan Wearable Medical Devices Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Product Type

9.3.3.2.2.             By Type

9.3.3.2.3.             By Application

9.3.3.2.4.             By Distribution Channel

9.3.4.     South Korea Wearable Medical Devices Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Product Type

9.3.4.2.2.             By Type

9.3.4.2.3.             By Application

9.3.4.2.4.             By Distribution Channel

9.3.5.     Australia Wearable Medical Devices Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Product Type

9.3.5.2.2.             By Type

9.3.5.2.3.             By Application

9.3.5.2.4.             By Distribution Channel

10.  South America Wearable Medical Devices Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Product Type

10.2.2.  By Type

10.2.3.  By Purpose

10.2.4.  By Site

10.2.5.  By Application

10.2.6.  By Distribution Channel

10.2.7.  By Business Segment

10.2.8.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Wearable Medical Devices Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Product Type

10.3.1.2.2.           By Type

10.3.1.2.3.           By Application

10.3.1.2.4.           By Distribution Channel

10.3.2.  Argentina Wearable Medical Devices Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Product Type

10.3.2.2.2.           By Type

10.3.2.2.3.           By Application

10.3.2.2.4.           By Distribution Channel

10.3.3.  Colombia Wearable Medical Devices Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Product Type

10.3.3.2.2.           By Type

10.3.3.2.3.           By Application

10.3.3.2.4.           By Distribution Channel

11.  Middle East and Africa Wearable Medical Devices Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Product Type

11.2.2.  By Type

11.2.3.  By Purpose

11.2.4.  By Site

11.2.5.  By Application

11.2.6.  By Distribution Channel

11.2.7.  By Business Segment

11.2.8.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa Wearable Medical Devices Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Product Type

11.3.1.2.2.           By Type

11.3.1.2.3.           By Application

11.3.1.2.4.           By Distribution Channel

11.3.2.  Saudi Arabia Wearable Medical Devices Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Product Type

11.3.2.2.2.           By Type