Wearable Healthcare Devices Market size to surpass around USD 45.8 billion by 2031

Posted on 2022-08-12 by Sandeep in Internet & Online // 0 Comments

New York, Country, 2022-Aug-12 — /EPR Network/ —

The global wearable healthcare devices market was valued at USD 14.3 billion in 2021 and it is anticipated to grow up to USD 45.8 billion by 2031, at a CAGR of 12.4% during the forecast period.

Global wearable healthcare devices report from Global Insight Services is the single authoritative source of intelligence on wearable healthcare devices market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Major Players in the Global Wearable Healthcare Devices Market

The key players in the market are Koninklijke Philips N.V. (Netherlands), Apple Inc. (US), GE Healthcare (US), Fitbit Inc. (US), Abbott Laboratories (US), OMRON Corporation (Japan), Garmin Ltd. (US), Dexcom Inc. (US), Masimo Corporation (US), Medtronic PLC (Ireland), BioTelemetry Inc. (US), Preventice Solutions Inc. (US), iRhythm Technologies Inc. (US), Contec Medical Systems Co. Ltd. (China), MediBioSense Ltd. (UK), VitalConnect (US), and Cyrcadia Health Inc. (US) among others.

Global Wearable Healthcare Devices Market Segmental Overview

Global Wearable Healthcare Devices Market by Device

Based on device, it is segmented into the activity/fitness monitors, diabetes devices, cardiac monitors, neurological monitors, respiratory monitors, body & temperature monitors, hearing aids and others. The activity/fitness monitors segment is likely to account for the significant market share during the forecast period. The key factors attributing the growth of the market is increasing adoption of activity monitors among individuals. Customers can use activity monitors to maintain their fitness over time.

Global Wearable Healthcare Devices Market by Application

Based on application, it is segmented into cardiac health, obesity control, diabetes care, fitness monitoring, sleep tracking and others. The cardiac health segment is likely to dominate the market during the forecast period. The largest share of the segment is attributed to the adoption of a sedentary lifestyle has increased the risk of heart attack, creating a demand for cardiac health management solutions.

Market Trends and Drivers

AI and 5G can be used to determine potential diagnoses and treatments for a specific patient. Furthermore, AI can help healthcare systems predict which patients are more likely to have postoperative complications, allowing them to intervene earlier. In general, real-time learning with a large volume of data necessitates dependable networks with high bandwidth. Healthcare organisations can use AI tools to provide the best care possible in real time, wherever they are, thanks to 5G networks. As a result, the use of emerging advanced tools and technologies such as AI and 5G can be expected to provide significant growth opportunities in the wearable healthcare devices market.

Major Players in the Global Wearable Healthcare Devices Market

Global Wearable Healthcare Devices Market Segmental Overview

Market Trends and Drivers

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