The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
In 2019, the wearable tech market was worth nearly $27B and is likely to grow to $64B by 2024, according to GlobalData forecasts, growing at a compound annual growth rate (CAGR) of 19%. The market for wearables has been growing significantly in the medical market over the past several years, and is in the middle of a period of technological advancement in the healthcare industry. Wearables have the potential to address spiraling healthcare costs, aging populations, and the burden of chronic disease.
Recent advances are providing value for healthcare with a focus on diagnosis, treatment, monitoring, and prevention. These advantages are felt through the entire healthcare value chain with benefits including personalization, early diagnosis, remote patient monitoring (RPM), adherence to medication, information libraries, and better decision-making, while reducing healthcare costs. Additionally, growing demand and functionality has gathered the attention of insurers and companies in the supply of wearable health technology to consumers and employees for their wide-ranging benefits.
- This report looks at the state of wearable technology in healthcare on a global scale. Leading companies are identified and the wearable technology value chain is divided into a variety of application segments.
- Many wearable technologies are industry-specific, with fitness and sports applications being the most well-established. In the US, Canada, and Europe, Apple and Fitbit dominate, with China challenging tech incumbents with less expensive alternatives manufactured by Xiaomi and Huawei.
- This is a single theme report providing in-house analyst expertise of wearable technology uses within the medical devices sector.
- Components of the report include -
- Key Players - identify key players involved in wearable technology and their position in the value chain.
- Trends - identify the key trends shaping the wearable technology industry over the next two to three years. These are classified into technology, macroeconomic, ad regulatory trends.
- Industry Analysis - identify the impact of wearable technology across major medical device markets.
- Value Chain – identify the various business segments and markets related to the use of wearable technology.
Reasons To Buy
- Develop and design your corporate strategies through an in-house expert analysis of wearable technology and the specific uses in the medical devices industry.
- Develop business strategies by understanding the primary ways in which wearable technology is changing the medical devices industry.
- Stay up to date on the industry’s major players and where they sit in the value chain.
- Identify emerging industry trends in wearable technology to gain a competitive advantage.