Wearable Medical Devices Global Market Report 2023: Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare

DUBLIN, March 6, 2023 /PRNewswire/ -- The "Wearable Medical Devices: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Wearable Medical Devices Market to Reach $72.2 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Wearable Medical Devices estimated at US$20.7 Billion in the year 2022, is projected to reach a revised size of US$72.2 Billion by 2030, growing at a CAGR of 16.9% over the analysis period 2022-2030. Diagnostic Devices, one of the segments analyzed in the report, is projected to record 14.3% CAGR and reach US$38.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Therapeutic Devices segment is readjusted to a revised 20.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 21.5% CAGR

The Wearable Medical Devices market in the U.S. is estimated at US$7.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9 Billion by the year 2030 trailing a CAGR of 21.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.1% and 16.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 15.3% CAGR.

Select Competitors (Total 134 Featured) -

• Apple Inc.
• Everist Health Inc.
• Fitbit, Inc.
• Garmin Ltd.
• Intelesens Ltd.
• Koninklijke Philips N.V.
• Omron Corporation
• Polar Electro Oy
• Samsung Electronics Co., Ltd.
• Sotera Wireless, Inc.
• Vital Connect, Inc.
• Withings SA
• Xiaomi Inc.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Digitalization of Healthcare Provides the Foundation for the Rise of Medical Wearables
• The World Prepares for the Digital Health Revolution
• Digitalization of Healthcare Expands to Wearable Devices
• Supported by the Migration to Digital Health, Healthcare IT Investments Spiral to Unprecedented Levels
• On the Pandemic Front, Here's What's Happening. Prognosis Every Business Needs to Know
• With Low Vaccination Rates in Africa Emerging Into a Global Security Issue, Vaccine Imbalances Will Stretch the Pandemic Further into 2022: Global Percentage (%) of Population Administered With Vaccines by Region as of March 2022
• Top Reasons for Unwillingness & Uncertainty Towards COVID-19 Vaccines Among the By-Choice Unvaccinated People: % Share of Various Reasons as of the Year 2022
• Collison of the Pandemic & War Comes as a Set Back for Global Economic Recovery & Progress
• A World Divided Over the War in Russia & Ukraine Fuels Oil Production Stand-Off, Aggravating Global Price Rise & Making Putin More Bolder & Willing to Invade its Neighbors: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2022
• Uncertain, Uneven & Bumpy Recovery Shaped by New Variants Coupled With Inflation Triggered by the Russia-Ukraine War Lowers Growth Expectations for 2022
• Persistently High Unemployment Indicates Long-Term Scarring from the COVID-19 Pandemic, Wage Inequality & Uneven Economic Recovery.
• Tough Times to Continue for Industries Reliant on Consumer Discretionary Incomes Until 2023
• Competition
• Piggybacking on Healthcare Digitalization, the Wearable Healthcare Revolution Has Arrived!
• Recent Market Activity
• Innovations

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Personalized Medicine Gets a Boost from the Rise of Medical Device Wearables
• Real-time, Personalized Medicine through Medical Wearable Becomes a Reality
• Emerging Role of Wearables in Precision Medicine
• Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare
• Here's How Medical Wearables Can Reduce Healthcare Costs
• Rise in Chronic Diseases, Increase in Demand for Medical Services, the Need for Equity in Healthcare & the Ensuing Focus on Democratizing Healthcare to Benefit Medical Wearables
• COVID-19 Induced Consumer Engagement With Health & Wellbeing Technologies Drives Demand for Personal Health Monitoring & Fitness Wearables
• Global Diabetes Epidemic Provides Opportunities On a Platter for Medical Wearables
• Medical Wearables Brings the Promise of Revolutionizing the Effectiveness of Long-Term Diabetes Care & Treatment Outcomes
• Big Data Analytics Remains Vital for Shaping the Future of Wearable Technology & Realizing Complete Benefits of Medical Wearables
• Mining Healthcare Big Data Becomes Big Businesses & Wearable Medical Devices Will Add to this Data Boom
• Integrating Cloud With Medical Wearables, A Major Trend
• AI Emerges to Revolutionize Wearable Medical Devices
• Rapidly Aging World Population, COVID-19 Induced Re-Focus on Aging-In-Place & Rise in Demand for Remote Patient Monitoring to Benefit Growth of Medical Wearables
• Rapidly Aging Population & Escalation in Demand for Geriatric Healthcare Highlights the Need for Medical Emergency Wearables
• Expanding Opportunity for PERS Will Encourage Increased Use of Medical Wearables
• The Stage is Now Set for Remote Patient Monitoring
• Aging Population, Rise of PERS & Migration of Healthcare to Alternate Sites Drive the Need for Remote Patient Monitoring Wherein Wearables Play a Major Role
• Role of Wearables in Remote Patient Monitoring
• Integration of Wearables into Telemedicine Explodes Into a Major Trend
• Wearables Emerge Into the Spotlight as Telemedicine Gains Momentum: Global Telemedicine Opportunity (In US$ Billion) for Years 2021, 2023, 2025 and 2027
• Role of Wearables in Telemedicine
• Increasing Obesity Levels Underpins Strong Potential for Wearable Pedometers & Heart Rate Monitors
• Wearables for Cancer Breaks the Surface
• Here's How Wearables Will Help Revolutionize Cancer Care, Treatment & Outcomes
• Medical Wearables Brings Massive Benefits for Clinical Trials
• Innovations in Medical Wearables Rushes on Full-Steam to Sustain Long-Term Growth in the Market
• Battery Power Being Vital for Wearable Technology is a Major Area Identified for Innovation & R&D
• Privacy & Data Issues Continue to Plague the Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/f3q3qd

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets 
Laura Wood, Senior Manager 
[email protected]  

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630 
For GMT Office Hours Call +353-1-416-8900 

U.S. Fax: 646-607-1907 
Fax (outside U.S.): +353-1-481-1716

Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets