Report Highlights
The global market for wearable medical devices was valued at $35.6 billion in 2023. This market is estimated to grow from $45.0 billion in 2024 to $151.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 27.5% from 2024 through 2029.
Report Includes
- 39 data tables and 62 additional tables
- An analysis of the global markets for wearable medical devices and technologies
- Analyses of global market trends, with market revenue data from 2021 to 2023, estimates for 2024, forecasts for 2029, and projected CAGRs through 2029
- Estimates of the current market size and revenue prospects, along with a market share analysis based on product type, application, sales channel, and region
- Facts and figures pertaining to market dynamics, current and emerging technologies, regulatory scenarios and reimbursement policies, and the expected impact of macroeconomic factors
- Assessment of technologies in development and the probability of their successful commercialization in the next five years
- Overview of sustainability trends and ESG developments in the industry, with a focus on consumer attitudes, companies’ ESG score rankings and their ESG practices
- An analysis of the industry structure, including companies’ market shares, merger and acquisition activity, and venture funding
- Profiles of the leading companies, including Medtronic, Abbott Laboratories, GE HealthCare, Philips Healthcare, Masimo Corp., and Dexcom Inc.
Report Scope
This research report covers the global market for wearable medical devices segmented based on product, application and sales channel. It incorporates an in-depth analysis of the wearable medical devices market, including market estimations and trends through 2029. By geographical region, the market is divided into North America, Europe, Asia-Pacific and Rest of the World (RoW). For market estimates, data has been provided for 2023 as the base year, with forecasts for 2024 through 2029.
Major players, technologies, applications, market dynamics and geographic opportunities are discussed in detail in the report. This report also examines various analytical frameworks such as PESTEL analysis, ESG analysis, regulatory landscape, reimbursement scenario and competitive analysis, which will aid the companies in devising their strategic plan of action.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||||
| Base year market size | $35.6 Billion | ||||||||||||||||||
| Market size forecast | $151.8 Billion | ||||||||||||||||||
| Growth rate | CAGR of 27.5% from 2024 to 2029 | ||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||
| Segments covered | By Product, Application, Sales Channel, and Region | ||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific and Rest of the World (RoW) | ||||||||||||||||||
| Countries covered | The U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China and India | ||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Increasing prevalence of chronic lifestyle diseases.
- Growing population of dependents.
- Technological advancements.
- Rising demand for home healthcare and remote monitoring.
- Corporate wellness programs.
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.
Consulting Editor’s Credentials
Dr. Marianna Tcherpakov has more than 10 years of experience as a bench scientist specializing in the areas of biochemistry, cell biology, assay development, antibody and drug manufacturing. She has authored several scientific publications in peer review journals. In the last 10 years, Marianna worked as a business development professional in CRO/CDMO industry. She is familiar with pharmaceutical and biotech landscape, trends and potential future developments in industry.
Report Highlights
The global wearable medical devices market should reach $83.9 billion by 2026 from $20.1 billion in 2021 at a compound annual growth rate (CAGR) of 33.1% for the forecast period of 2021 to 2026.
Report Includes
- 59 tables
- An up-to-date review and analysis of the global markets for wearable medical device technologies
- Analyses of the global market trends, with historic data from 2019 to 2020, estimates for 2021 and projections of compound annual growth rates (CAGRs) through 2026
- Review, analysis and forecast key wearable medical device technologies used for diagnosis, monitoring, treatment and prevention of various diseases and disorders
- Evaluation and forecast the overall market size, forecasted growth trends, and corresponding market share analysis by application, end user and geographic region
- Highlights of the upcoming market potential and areas of focus to forecast this market into various segments and sub-segments
- In-depth information (facts and figures) concerning market drivers, market deterrents and other demographic and economic factors that will drive future demand for medical devices
- Identification of promising new wearable medical devices and technologies still in the development and testing stage and assess the probability that they will be commercialized successfully in the next five years
- Insight into recent structure of the medical device and diagnostics industry, competitive landscape, R&D activities, company revenue share analysis, and key M&A deals and collaboration agreements in the global wearable medical devices market
- Descriptive company profiles of the major global players, including Abbott, General Electric Co., Medtronic PLC, Siemens Healthineers AG, Thync Inc. and VivoSensMedical GmbH
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 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.
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