Global Wireless Health and Fitness Devices Market 2020-2027 - The Merger of Consumer Electronics with Professional Medical Equipment

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Oct 23, 2020, 12:00 ET

DUBLIN, Oct. 23, 2020 /PRNewswire/ -- The "Wireless Health and Fitness Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Wireless Health and Fitness Devices Market to Reach 464.6 Million Units by 2027

Amid the COVID-19 crisis, the global market for Wireless Health and Fitness Devices estimated at 221.6 Million Units in the year 2020, is projected to reach a revised size of 464.6 Million Units by 2027, growing at a CAGR of 11.2% over the analysis period 2020-2027.

Sports & Fitness, one of the segments analyzed in the report, is projected to record a 10.1% CAGR and reach 280.4 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Remote Health Monitoring segment is readjusted to a revised 12.1% CAGR for the next 7-year period.

The U. S. Market is Estimated at 59.9 Million Units, While China is Forecast to Grow at 14.7% CAGR

The Wireless Health and Fitness Devices market in the U. S. is estimated at 59.9 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 99.2 Million Units by the year 2027 trailing a CAGR of 14.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.8% and 9.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.

Professional Healthcare Segment to Record 15.8% CAGR

In the global Professional Healthcare segment, USA, Canada, Japan, China and Europe will drive the 14.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of 13.8 Million Units in the year 2020 will reach a projected size of 36.4 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 68 Million Units by the year 2027, while Latin America will expand at a 17.5% CAGR through the analysis period.

The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Wireless Health and Fitness Devices: Enabling Intelligent, Convenient, Virtual, Passive, and Continuous Healthcare Monitoring
Growth Drivers in a Nutshell
Key Challenges Summarized
Recent Market Activity
Convergence of Health and Fitness Devices with Information Technology Transform the Healthcare Industry
Wireless Healthcare Devices: Merger of Consumer Electronics with Professional Medical Equipment
Wearable Technology: Intertwined Closely with the Expanding Healthcare Delivery Model
Products and Apps that Integrate Data from Varied Sources: Future of Fitness and Health Tracking Devices
Affordable Healthcare
Preventive Healthcare
Chronic Disease Management
Healthcare Services Anytime Anywhere
Key Challenges with Regard to Use of Wireless- based Solutions in the Healthcare System
Despite Limitations, Myriad Health and Wellness Benefits of Wireless Healthcare Devices Drive Widespread Adoption
Personalized Health and Fitness
Enhanced Sleep Quality
Healthcare and Insurance
Market Fortunes Intrinsically Tied to the Overall Medical Devices Industry
Future of Medical Devices is All About IT-Enabled Devices
3D Printing: A Boom for Medical Device Manufacturing
Partnerships with Experts Essential for Wireless Medical Devices Manufacturing
Global Market Outlook
Developed Markets Dominate, while Developing Countries Spearhead Market Growth
Global Competitor Market Shares
Wireless Health and Fitness Devices Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

Abbott Diabetes Care, Inc. (USA)
adidas AG (Germany)
Alive Technologies Pty. Ltd. (Australia)
Apple, Inc. (USA)
ASUSTeK Computer, Inc. (Taiwan)
Beurer GmbH (Germany)
Dexcom, Inc. (USA)
Entra Health Systems LLC (USA)
Fitbit, Inc. (USA)
Garmin Ltd. (USA)
GE Healthcare (USA)
Google Inc. (USA)
iHealth Labs, Inc. (USA)
Intelesens Ltd. (UK)
Isansys Lifecare Ltd. (UK)
Motorola Mobility LLC (USA)
LG Electronics Inc. (South Korea)
LifeWatch AG (Switzerland)
Medtronic plc (Ireland)
Misfit, Inc. (USA)
NeuroSky, Inc. (USA)
Nike, Inc. (USA)
Nonin Medical, Inc. (USA)
Nokia Corporation (Finland)
Withings SA (France)
NUUBO Smart Solutions Technologies, SL (Spain)
Omron Healthcare Co., Ltd. (Japan)
Oregon Scientific, Inc. (USA)
Philips Healthcare (The Netherlands)
Polar Electro Oy (Finland)
Samsung Electronics Co., Ltd. (South Korea)
Sony Corporation (Japan)
Suunto Oy (Finland)
Under Armour, Inc. (USA)
Vital Connect, Inc. (USA)
Winmedical Srl (Italy)
Xiaomi Inc. (China)

3. MARKET TRENDS & DRIVERS

Rapid Proliferation of Smart and Intelligent Wireless Health and Fitness Devices: The Fundamental Growth Driver
Smart Fitness Trackers: Integrating Intelligent Programs and Smart Sensors for Real-time Communication of Vital Metrics
Wireless Professional Healthcare Devices Revolutionize Consumer Healthcare in Hospital Settings
Urgent Need for Democratization of Healthcare Drives Demand for Mobile Health (mHealth) Devices
mHealth: A Key Enabler of Data Outside the Hospital Setting
Digital Communication within the Hospital Setting Account for Largest Share of the mHealth Platform
mHealth for Tagging Mobility Aids and Hospital Staff
Bright Future Projected for mHealth Devices
Growing Prominence of Artificial Intelligence and Big Data Analytics in Digital Health Provides the Perfect Platform for Market Growth
Penetration of Wearable Health Devices Fuels Demand for Healthcare Big Data Analytics
Booming Demand for Big Data Applications in the Healthcare Sector
Growing Data from Wearable Devices Prompts Enterprises to Redesign Information Infrastructures
Rising Need to Reduce Human Dependency and Human-Associated Errors Drives Prospects for Healthcare IoT
Low Cost, Wide Usage of Sensors, and Other Benefits Drive Robust Adoption of Healthcare IoT
Key Challenges in the Adoption of Healthcare/Medical IoT
Increasing Incidence of Chronic Diseases Requiring Continuous Monitoring Benefits Market Expansion
Global Cardiovascular Disease (CVD) Prevalence and Wireless Devices for CVD Management
Global Diabetes Prevalence and Wireless Devices for Blood Glucose Monitoring
Global Hypertension Prevalence and Wireless Devices for Blood Pressure Monitoring
Wearable EEG Monitors
Wearables for Continuous Fetal Monitoring
Wearable Defibrillators
Smartphone Penetration & Declining Price of Connected Devices Drive Adoption of Health and Fitness Apps
Rising Importance of App Ecosystem
Wireless Home Healthcare Devices Market Offers Significant Prospects
Patient Monitoring Goes Wireless
Home Monitoring Device Market Set to Grow Rapidly
Remote Patient Monitoring Shows Promise in Enhancing Care Efficiency and Reducing Costs
Growing Need to Reduce Mortality and Morbidity Rates Boost Demand for Telemonitoring Devices
Wireless Devices Aids in Curtailing ER Visits
Immobile Patients to Gain from Increased Uptake of Remote Patient Monitoring Devices
Telehealth under Threat from Wireless Consumer Devices?
Aging Population and their Vulnerability to Various Health and Fitness Issues: A Vital Growth Driver
Wireless Sports & Fitness Devices Continue to Witness Rapid Growth
Smartwatches: Intelligent Wrist Wear for Today's Health Conscious, Digital, and Connected Individual
Wireless Devices for Corporate Wellness Programs Offer Huge Untapped Market Opportunities
Increasing Obesity Levels Drives Strong Consumer Interest in Heart Rate Monitors
Compatibility with Multiple Operating Systems Make Bluetooth Smart and ANT+ the Dominant Technologies in Wireless Healthcare Devices
Bluetooth in Medical Devices
Bluetooth Smart: Bluetooth Low Energy Standard (BLE) that Empowers Wireless Devices
Favorable Demographic & Economic Trends Strengthen Market Prospects
Exponential Increase in Urban Population
Increasing Affluence of the Ballooning Middle Class Population
Key Issues and Challenges Hampering Market Prospects for Wearable Medical Devices
Ranking of Factors Restraining Wearables Purchase
Battery Life Limitations
Privacy Concerns
Design Issues

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 130

For more information about this report visit https://www.researchandmarkets.com/r/dpw8my

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