Healthcare Wearables Market Size to Grow by USD 7.77 billion, Abbott Laboratories and Dexcom Inc. Among Key Vendors – Technavio

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NEW YORK, July 18, 2022 /PRNewswire/ — The global healthcare wearables market is driven by factors such as increasing focus on fitness and healthy lifestyle orientation. Interactive fitness activities offer several benefits, such as body coordination and the strengthening of the abdominal muscles. Hence, many consumers are buying interactive fitness products to improve their health. Social media is also creating awareness about a healthy lifestyle through various fitness and training activities, such as interactive fitness. This, in turn, is driving the demand for healthcare wearable products. The wellness services industry, which also includes fitness services and a healthy lifestyle, has witnessed significant growth in the last five years, owing to the increasing focus on health and fitness.

The global healthcare wearables market size is expected to grow by USD 7.77 billion from 2021 to 2025, according to Technavio. Moreover, the growth momentum of the market will accelerate at a CAGR of 14.67% during the forecast period.

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Read the report with TOC on “Healthcare Wearables Market Analysis Report by Product (Vital sign monitors, Glucose monitors, Sleep apnea monitors, and Others), End User (Hospitals and clinics, Nursing homes, and Others), and Geographic (North America, Europe, Asia, and ROW), and the Segment Forecasts, 2021-2025″. View our Report Snapshot 

Market Challenge

The lack of data privacy and security is challenging the growth of the market. Healthcare wearable devices store huge amounts of vital and sensitive information about the activities of the users, including location information. However, these devices are prone to security issues. Hence, end-users are concerned about their privacy and security, which will restrict the growth of the global healthcare wearables market during the forecast period.

Major Healthcare Wearables Companies:

  • Abbott Laboratories
  • Apple Inc.
  • Dexcom Inc.
  • Fitbit Inc.
  • Garmin Ltd.
  • General Electric Co.
  • Koninklijke Philips NV
  • Masimo Corp.
  • Medtronic Plc
  • OMRON Corp.

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Key Vendor Offerings

  • Abbott Laboratories – The company offers Rx ICM heart monitor, which continuously collects and analyzes data on the heartbeat.
  • Dexcom Inc. – The company offers Dexcom G6 CGM System, which helps in tracking glucose levels.
  • Fitbit Inc. – The company offers its Fitbit range of smartwatches, which helps in fitness and wellness tracking.
  • Garmin Ltd. – The company offers fitness watches such as Venu 2/2S, Venu Sq, and many others.
  • General Electric Co. – The company offers healthcare wearables products such as CARESCAPE ONE.

Healthcare Wearables Market Product Outlook (Revenue, USD billion, 2020-2025)

  • Vital sign monitors – size and forecast 2020-2025
  • Glucose monitors – size and forecast 2020-2025
  • Sleep apnea monitors – size and forecast 2020-2025
  • Others – size and forecast 2020-2025

Healthcare Wearables Market End User Outlook (Revenue, USD billion, 2020-2025)

  • Hospitals and clinics – size and forecast 2020-2025
  • Nursing homes – size and forecast 2020-2025
  • Others – size and forecast 2020-2025

Healthcare Wearables Market Geographic Outlook (Revenue, USD billion, 2020-2025)

  • North America – size and forecast 2020-2025
  • Europe – size and forecast 2020-2025
  • Asia – size and forecast 2020-2025
  • ROW – size and forecast 2020-2025

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View an Exclusive Sample Report

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Healthcare Wearables Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 14.67%

Market growth 2021-2025

USD 7.77 billion

Market structure

Fragmented

YoY growth (%)

10.40

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 38%

Key consumer countries

US, Germany, Canada, Japan, UK, The Netherlands, Mexico, France, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abbott Laboratories, Apple Inc., Dexcom Inc., Fitbit Inc., Garmin Ltd., General Electric Co., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, and OMRON Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Vital sign monitors – Market size and forecast 2020-2025
  • Glucose monitors – Market size and forecast 2020-2025
  • Sleep apnea monitors – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Hospitals and clinics – Market size and forecast 2020-2025
  • Nursing homes – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • Asia – Market size and forecast 2020-2025
  • ROW – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Abbott Laboratories
  • Apple Inc.
  • Dexcom Inc.
  • Fitbit Inc.
  • Garmin Ltd.
  • General Electric Co.
  • Koninklijke Philips NV
  • Masimo Corp.
  • Medtronic Plc
  • OMRON Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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SOURCE Technavio

Healthcare Wearables Market Size to Grow by USD 7.77 billion, Abbott Laboratories and Dexcom Inc. Among Key Vendors - Technavio WeeklyReviewer

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