Diagnostic Wearable Medical Devices Market to grow at a CAGR of 15.09% by 2025 | Growing Demand for Early Diagnosis & Preventive Medicine to Boost Growth | Technavio

NEW YORK, March 10, 2022 /PRNewswire/ — The diagnostic wearable medical devices market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Activinsights Ltd., BioTelemetry Inc., Cleveland Medical Devices Inc., Fitbit Inc., Koninklijke Philips NV, Nokia Corp., Omron Healthcare Inc., Polar Electro Oy, VitalConnect Inc., and World Global Network Pte. Ltd. are some of the major market participants. The diagnostic wearable medical devices market is set to grow by USD 4.94 billion from 2020 to 2025, progressing at a CAGR of 15.09% according to the latest market research report by Technavio.

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Diagnostic Wearable Medical Devices Market 2021-2025: Scope

 Our diagnostic wearable medical devices market report covers the following areas:

• Diagnostic Wearable Medical Devices Market size
• Diagnostic Wearable Medical Devices Market trends
• Diagnostic Wearable Medical Devices Market industry analysis

Diagnostic Wearable Medical Devices Market 2021-2025: Drivers & Challenges

The key factor driving growth in the diagnostic wearable medical devices market is the growing demand for early diagnosis and preventive medicine. Diagnostic wearable devices enable individuals to obtain real-time data, thus allowing them to track their health status. These devices include biosensing clothing, vital signs monitors, neuromonitoring devices, sensor-embedded equipment, wristband devices for sports and fitness, and sleep rate monitoring devices. Wearable devices help people monitor and track calorie intake, fitness level, and sleep patterns. Wearable devices also help individuals in the early diagnosis of any chronic diseases.

However, data privacy issues will be a major challenge for the diagnostic wearable medical devices market during the forecast period. The implications of giving up one’s health data are huge. These devices share an enormous amount of data associated with personal health and fitness to an unquantifiable audience. Most of the wearable devices are small but they are capable of storing a large amount of data. The small size of these devices implies that the chance of losing or misplacing the data is high. Furthermore, wearable devices use a Global positioning system (GPS)do to retrieve location-based information. In some instances, people have to share their location to obtain certain information. This information can be saved and used by advertisers as well. Besides, the data of a subscriber’s location is owned and controlled by the respective network operators, including mobile carriers and mobile content providers. With operators having such information, end-users are concerned about their privacy, despite legal frameworks to safeguard it.

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Diagnostic Wearable Medical Devices Market 2021-2025: Segmentation

• Device
• Vital Signs Monitors
• Sleep And Activity Monitors
• Fetal And Obstetric Monitoring Devices
• Neuromonitoring Devices
• ECG Monitors
• Application
• Home Healthcare
• Sports And Fitness
• Remote Patient Monitoring
• Geography
• North America
• Europe
• Asia
• ROW

Diagnostic Wearable Medical Devices Market 2021-2025: Revenue Generating Segment & Regional Analysis

• The diagnostic wearable medical devices market share growth by the vital signs monitors segment will be significant for revenue generation. Self-care vital signs monitors are increasingly adopted by individuals to measure blood pressure from the convenience of their homes. The growing geriatric population and an increase in the number of people with obesity and Cerebrovascular disease (CVDs) will drive the market. The growth of the market is also fueled by the increased need to reduce hospital costs. Moreover, new product launches are expected to propel the growth of the market during the forecast period. 
• 38% of the market’s growth will originate from North America during the forecast period. The US is the key market for diagnostic wearable medical devices in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions. The increase in the incidence of chronic diseases among people of all ages, the increased prevalence of heart and respiratory disorders, and a rise in the number of premature births will facilitate the diagnostic wearable medical devices market growth in North America over the forecast period.

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Diagnostic Wearable Medical Devices Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist diagnostic wearable medical devices market growth during the next five years
• Estimation of the diagnostic wearable medical devices market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the diagnostic wearable medical devices market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of diagnostic wearable medical devices market vendors

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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 Application

• Market segments
• Comparison by Application
• Home healthcare – Market size and forecast 2020-2025
• Sports and fitness – Market size and forecast 2020-2025
• Remote patient monitoring – Market size and forecast 2020-2025
• Market opportunity by Application

Market Segmentation by Device

• Market segments
• Comparison by Device
• Vital signs monitors – Market size and forecast 2020-2025
• Sleep and activity monitors – Market size and forecast 2020-2025
• Fetal and obstetric monitoring devices – Market size and forecast 2020-2025
• Neuromonitoring devices – Market size and forecast 2020-2025
• ECG monitors – Market size and forecast 2020-2025
• Market opportunity by Device

Customer landscape

• 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
• Activinsights Ltd.
• BioTelemetry Inc.
• Cleveland Medical Devices Inc.
• Fitbit Inc.
• Koninklijke Philips NV
• Nokia Corp.
• Omron Healthcare Inc.
• Polar Electro Oy
• VitalConnect Inc.
• World Global Network Pte. Ltd.

Appendix

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

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