Global Medical Wearables Industry (2020 to 2025) - Growing Adoption of Mobile Platforms Presents Opportunities

Dublin, June 02, 2020 (GLOBE NEWSWIRE) -- The "Medical Wearables Market by Device (Vital Signs Monitoring, Blood Pressure Monitor, Glucose Monitor, ECG Monitor, Pulse Oximeter), Product (Smartwatch, Patches, Wristbands), End User (Hospitals, Nursing Homes, Ambulatory) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global medical wearables market is projected to reach USD 19.5 billion by 2025 from USD 7.4 billion in 2020, at a high CAGR of 21.4% during the forecast period of 2020 to 2025.

The growing adoption of smartphones, increasing penetration of 3G/4G networks, growing geriatric population and rising focus on patient-centric healthcare delivery.

Based on device type, the vital signs monitoring segment accounted for the largest share of the market in 2019.

In 2019, the vital signs monitoring segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growing use of high-tech devices, which are compact, user-friendly, and come with a better graphical user interface for easy visibility of resulted data are helping to increase the market penetration of clinical-grade wearables. These wearables are playing an integral role in treating and monitoring various medical conditions in patients and driving better health outcomes.

Based on the product, the patches segment accounted for the largest share of the market in 2019.

In 2019, the patches segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growth in the adoption of wearable technology is largely dependent on technological advancements and the ease of use. In the past few years, the clinical-grade wearables market has benefited from the growing penetration of 3G and 4G connections across the globe.

Based on end-user, Long-term care centers, nursing homes, and assisted-living facilities segment is expected to show the highest growth during the forecast period.

The long-term care centers, nursing homes, and assisted-living facilities segment is expected to show the highest growth during the forecast period. The highest growth of this segment can be attributed to the increasing number of people requiring long-term care as a result of the rising geriatric population and the increasing incidence of chronic disorders. Population aging is poised to become one of the most significant social transformations of the twenty-first century, with implications for nearly all sectors of society, including labor and financial markets, the demand for goods and services, such as housing, transportation and social protection, as well as family structures and intergenerational ties.

By region, North America accounted for the largest market share in 2019.

In 2019, North America dominated the clinical-grade wearables market, followed by Europe, the Asia Pacific,
Latin America, and the Middle East & Africa. The large share of North America in the clinical-grade wearables market can be attributed to the high penetration of smartphones, tablets, and other mobile platforms, increasing prevalence of chronic diseases, development & adoption of innovative technologies, and rising government initiatives.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Market Overview
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 Increasing Awareness of Fitness and Incidence of Lifestyle Disorders
3.2.1.2 Advent of Technologically Advanced Products
3.2.1.3 Growing Geriatric Population and Incidence of Chronic Diseases
3.2.1.4 Cost-Containment in Healthcare Delivery
3.2.1.5 Robust Penetration of 3G and 4G Networks for Uninterrupted Healthcare Services
3.2.2 Restraints
3.2.2.1 Unfavorable Standards and Regulations
3.2.2.2 Accuracy, Standardization, and Analysis of Wearable-Generated Data
3.2.3 Opportunities
3.2.3.1 Growing Adoption of Mobile Platforms
3.2.3.2 Increasing Adoption of Ai and 5G
3.2.4 Challenges
3.2.4.1 Patent Protection of Clinical-Grade Wearables
3.2.4.2 Lack of Data Security and Concerns Over Data Theft and Healthcare Fraud
3.2.4.3 Limited Battery Life
3.2.4.4 Device Design Complexity

4 Industry Insights
4.1 Industry Trends
4.2 Oncology - the Next Frontier for Clinical-Grade Wearables
4.3 Future Trends in Clinical-Grade Wearables
4.4 Investments in Clinical-Grade Wearable Startups

5 Clinical-Grade Wearables Market, by Device Type
5.1 Introduction
5.2 Vital Sign Monitoring Devices
5.2.1 Multiparameter Trackers
5.2.1.1 Increase in the Prevalence of Chronic Diseases to Drive this Market Segment
5.2.2 ECG/Holter/Heart Rate Monitors
5.2.2.1 ECG Monitors Help Improve the Quality of Care by Facilitating the Continuous Monitoring of Patients - A Key Factor Driving Market Growth
5.2.3 Blood Pressure Monitors
5.2.3.1 Clinical-Grade Wearable Blood Pressure Monitors Form a Popular Category as These Devices Are Convenient to Use and Relatively Less Expensive
5.2.4 Pulse Oximeters
5.2.4.1 Growing Adoption of Pulse Oximeters for Self-Monitoring Purposes to Drive Growth in this Market Segment
5.3 Glucose Monitoring Devices & Insulin Pumps
5.3.1 Growth in the Number of Diabetics Propels the Adoption of Blood Glucose Monitoring Devices
5.4 Fetal Monitoring & Obstetric Devices
5.4.1 Rise in the Number of Preterm Births to Drive this Segment
5.5 Neuromonitoring Devices
5.5.1 Growing Prevalence of Neurological Diseases to Drive this Segment
5.6 Sleep Monitoring Devices
5.6.1 Continuous Monitoring of Sleep Patterns Helps Identify the Root Cause of Sleep-Related Disorders, Thereby Aiding Proper Disease Management

6 Clinical-Grade Wearables Market, by Product
6.1 Introduction
6.2 Patches
6.2.1 Ease of Use, Convenience, Non-Invasiveness, and Compact Design Are Expected to Drive the Growth of this Segment
6.3 Smartwatches
6.3.1 Data Accuracy, Limited Battery Life, and Competition from Fitness Bands May Limit Market Growth to a Certain Extent
6.4 Activity Monitors & Wristbands
6.4.1 Increasing Prevalence of Chronic Diseases Has Resulted in a Significant Increase in the Demand for Activity Monitors
6.5 Other Clinical-Grade Wearables

7 Clinical-Grade Wearables Market, by End-user
7.1 Introduction
7.2 Long-Term Care Centers, Assisted-Living Facilities, and Nursing Homes
7.2.1 Increasing Number of People Requiring Long-Term Care as a Result of the Rising Geriatric Population to Drive Market Growth
7.3 Hospitals
7.3.1 Leading Hospitals Are Using Wearable Technologies to Transform Resident Training and Emergency Medicine Communication, Which Provides Them With a Critical Advantage
7.4 Ambulatory Care Centers
7.4.1 The Shift of Patient Care from Inpatient to Outpatient Settings is Driving the Growth of this End-user Segment
7.5 Home Care Settings
7.5.1 Government Initiatives Are Expected to Support the Market Growth

8 Clinical-Grade Wearables Market, by Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 in 2019, the Us Accounted for the Largest Share of the Clinical-Grade Wearables Market in North America
8.2.2 Canada
8.2.2.1 Need to Curtail Escalating Healthcare Costs to Drive the Market in Canada
8.3 Europe
8.3.1 Germany
8.3.1.1 Need for Better and Improved Healthcare Services Will Drive the Adoption of Clinical-Grade Wearables in Germany
8.3.2 UK
8.3.3 Clinical-Grade Wearable Devices Have Witnessed High Penetration in the UK
8.3.4 France
8.3.4.1 Use of Telehealth Solutions and Services Through Big Data to Propel Market Growth
8.3.5 Italy
8.3.5.1 Increasing Government Initiatives for the Implementation of Ehealth Technologies to Support Market Growth
8.3.6 Spain
8.3.6.1 Spain Has One of the Highest Levels of Mobile Phone Penetration in Europe
8.3.7 Rest of Europe (Roe)
8.4 Asia-Pacific
8.4.1 Japan
8.4.2 Japan is a Highly Developed Market for Wireless Technologies With a Rapidly Evolving Mobile Healthcare Sector
8.4.3 China
8.4.4 Growing Focus of Public & Private Players on Clinical-Grade Wearables Deployment in China to Drive Market Growth
8.4.5 India
8.4.6 Increasing Number of Initiatives from Both Government Organizations and Private Players to Improve Access to Healthcare to Drive Market Growth
8.4.7 Rest of Asia-Pacific
8.5 Latin America
8.5.1 Increase in the Adoption of Mobility Solutions in Brazil and Mexico to Drive Growth in the Clinical-Grade Wearables Market
8.6 Middle East & Africa
8.6.1 Government Investments in Building a Healthcare Mobility Framework in the MEA Region to Drive Market Growth

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking Analysis
9.3 Competitive Leadership Mapping, 2019
9.3.1 Visionary Leaders
9.3.2 Innovators
9.3.3 Emerging Companies
9.3.4 Dynamic Differentiators
9.4 Competitive Situation and Trends
9.4.1 New Product Launches & Enhancements
9.4.2 Partnerships, Collaborations, and Agreements
9.4.3 Acquisitions

10 Company Profiles
10.1 Koninklijke Philips N.V.
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 Recent Developments
10.2 Medtronic plc
10.2.1 Business Overview
10.2.2 Products Offered
10.2.3 Recent Developments
10.3 Omron Healthcare Co. Ltd. (A Part of Omron Corporation)
10.3.1 Business Overview
10.3.2 Products Offered
10.3.3 Recent Developments
10.4 Biotelemetry, Inc.
10.4.1 Business Overview
10.4.2 Products Offered
10.4.3 Recent Developments
10.5 Apple, Inc.
10.5.1 Business Overview
10.5.2 Products Offered
10.5.3 Recent Developments
10.6 GE Healthcare
10. 6.6.1 Business Overview
10. 6.6.2 Products Offered
10. 6.6.3 Recent Developments
10.7 Abbott Laboratories
10.7.1 Business Overview
10.7.2 Products Offered
10.7.3 Recent Developments
10.8 Dexcom, Inc.
10.8.1 Business Overview
10.8.2 Products Offered
10.8.3 Recent Developments
10.9 Irhythm Technologies, Inc.
10.9.1 Business Overview
10.9.2 Irhythm Technologies, Inc.: Company Snapshot (2018)
10.9.3 Products Offered
10.10 Masimo Corporation
10.10.1 Business Overview
10.10.2 Products Offered
10.11 Preventice Solutions, Inc.
10.11.1 Business Overview
10.11.2 Products Offered
10.11.3 Recent Developments
10.12 Contec Medical Systems Co. Ltd.
10.12.1 Business Overview
10.12.2 Products Offered
10.13 Bio-Beat Technologies
10.13.1 Business Overview
10.13.2 Products Offered
10.13.3 Recent Developments
10.14 Vitalconnect
10.14.1 Business Overview
10.14.2 Products Offered
10.14.3 Recent Developments
10.15 Minttihealth
10.15.1 Business Overview
10.15.2 Products Offered
10.15.3 Recent Developments
10.16 Biotricity Inc.
10.17 Verily Life Sciences (A Part of Alphabet Inc.)
10.18 Cyrcardia Asia Limited
10.19 Ten3T Healthcare
10.20 Vivalnk, Inc.

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