Wearable Biosensors in Healthcare: Technology, Applications, and Market Outlook

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Wearable Healthcare Devices Market size was valued at USD 23.83 Bn. in 2022 and the total Wearable Healthcare Devices revenue is expected to grow at a CAGR of 20.2% from 2023 to 2029, reaching nearly USD 86.42 Bn.

GlobalWearable Healthcare DevicesMarket Overview

Maximize Market research, a global Healthcare market research firm, has published competitive intelligence market research report on GlobalWearable Healthcare DevicesMarket. TheGlobalWearable Healthcare Devicesmarket revenue is expected to grow at a CAGR of percent from 2022 to 2029, reaching USDGlobalWearable Healthcare Devices bn during the forecast period The industry overview gives thorough details about the size of the market all the market dynamics including strategies, market revenue, pricing analysis, micro and macro market trends and scenarios, Industry benchmarks, region wise market potential and Industry rivalry.

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GlobalWearable Healthcare DevicesMarket Report Scope and Research Methodology

TheGlobalWearable Healthcare DevicesMarket report includes the comprehensive analysis of the industry in a simple language. A detailed analysis ofGlobalWearable Healthcare DevicesMarket dynamics has been included in the report. The past, present and the expected trends in the forecast period has also been provided in the report. it also covers all the major aspects of theGlobalWearable Healthcare Devicesindustry with a dedicated study of the rivalry in the industry that include market leaders, followers, and new entrants. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensiveGlobalWearable Healthcare Devicesmarket engineering and calculations for market statistics; market size estimations, market forecasts, market breakdown and data triangulation. The secondary data was collected from the companys annual reports, articles, paid and free databases, etc. To estimate the regional and globalGlobalWearable Healthcare Devicesmarket size, the bottom-up approach was used.

GlobalWearable Healthcare DevicesMarket Regional Insights

The report includes a detailed explanation of the opportunities, barriers competitive rivalry in each region. The regional analytics cover North America, South America, Asia Pacific, Europe Middle East and Africa.

GlobalWearable Healthcare DevicesMarket Segmentation

Segments Covered

by Product
1. Trackers
2. Smartwatches
3. Patches
4. Smart Clothing

Based on Product, the Trackers segment dominated the Wearable Healthcare Devices market in 2022 with a share of approximately 38%. At the end of the projected period, this segment's dominance is anticipated to remain. The adoption of smartphones and the rise in the number of medical devices based on smartphones are propelling the segment's expansion. Smartphones and wearable trackers can provide information on daily activities or fitness without the need for potentially distracting human computations or recordings, helping to motivate users during workouts. As a result, the market for wearable healthcare devices is expected to increase significantly throughout the forecast period.

by Device Type
1. Diagnostic and Monitoring Devices
2. Multiparameter Tracker
3. ECG\Heart Rate Monitors
4. Pulse Oximeters

Based on device type, the Diagnostic and Monitoring devices category held a commanding 42% market share for wearable medical devices in 2022. During the projection period, this segment is anticipated to have the highest CAGR of nearly 10.3%. The main reason driving the segment's growth is the rise in neurological and nephrological disorders. The poll from 2021 found that migraine was the most prevalent neurological condition in the country. 92.5 percent of people in the US get migraines.

by Grade Type
1. Traditional Diagnostic Devices
2. Consumer-Grade Wearable Healthcare Devices
3. Clinical-Grade Wearable Healthcare Devices

The Traditional Diagnostic category, based on Grade Type, is anticipated to experience rapid growth during the projection period. Due to the increasing demand for conventional diagnostic devices around the world, the traditional diagnostic device segment is anticipated to expand more quickly over the course of the projected period. The market for wearable healthcare devices is also anticipated to expand as a result of a wide range of medical equipment, including intelligent asthma action products, intelligent pain reliever gadgets, and insulin management equipment. Monitoring equipment includes respiratory therapy tools, glucose monitoring tools, recovery tools, and pain management tools. The insulin monitoring device sub-segment was prominent in 2022 and is anticipated to hold its position during the forecast period due to the large number of diabetics.

by Application
1. General Health and Fitness
2. Remote Patient Monitoring
3. Home Healthcare

Based on Application, the home healthcare sector dominated the market for wearable medical devices, accounting for the largest revenue share of 54.5% in 2022. Other factors driving the market growth include the rising geriatric population, which is increasing the prevalence rates of target diseases, and the growing need to reduce healthcare spending as an economically viable initiative. Over the projected period, the remote patient monitoring industry is anticipated to grow at the fastest rate. The prevalence of chronic diseases and the world's growing older population are predicted to have a significant impact on the development of devices for remote patient monitoring throughout the course of the forecast period.

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GlobalWearable Healthcare DevicesMarket Key Players

1. Koninklijke Philips N.V. (Netherlands)
2. Apple Inc. (US)
3. GE Healthcare (US)
4. Fitbit Inc. (US)
5. Abbott Laboratories (US)
6. OMRON Corporation (Japan)
7. Garmin Ltd. (US),
8. Dexcom Inc. (US)
9. Masimo Corporation (US)
10. Medtronic PLC (Ireland)
11. Bio Telemetry Inc. (US)
12. Preventice Solutions Inc. (US)
13. iRhythm Technologies Inc. (US)
14. Contec Medical Systems Co. Ltd. (China)
15. MediBioSense Ltd. (UK)
16. VitalConnect (US)
17. Cyrcadia Health Inc. (US)
18. Ten3T Healthcare (India)
19. Verily Life Sciences (US)
20. MinttiHealth (China)
21. Bio-Beat (Israel)
22. Biotricity Inc. (US)
23. iHealth Lab Inc. (US)
24. Vivalink (US)
25. Gentag (US)

Key questions answered in theGlobalWearable Healthcare DevicesMarket are:

  • What isGlobalWearable Healthcare Devices?
  • What are the global trends in theGlobalWearable Healthcare DevicesMarket?
  • What was theGlobalWearable Healthcare DevicesTotal Market size in 2022?
  • What is expectedGlobalWearable Healthcare DevicesMarket size by 2029?
  • Who held the largest market share inGlobalWearable Healthcare DevicesMarket?
  • Who are the leading companies and what are their portfolios inGlobalWearable Healthcare DevicesMarket?
  • What are the major challenges that theGlobalWearable Healthcare DevicesIndustry could face in the future?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Industrial Manipulator Market Size, Share, Size Forecast by different segment | 20222029
  • Industrial Manipulator Market Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Industrial Manipulator Market Segmentation A detailed analysis by Type, Application and Region
  • Competitive Landscape Profiles of selected key players by region from a strategic perspective
    • Competitive landscape Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTERs analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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