Global Wireless Health and Fitness Devices Market 2020-2027 - The Merger of Consumer Electronics with Professional Medical Equipment

DUBLIN, Oct. 23, 2020 /PRNewswire/ -- The "Wireless Health and Fitness Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

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Global Wireless Health and Fitness Devices Market to Reach 464.6 Million Units by 2027

Amid the COVID-19 crisis, the global market for Wireless Health and Fitness Devices estimated at 221.6 Million Units in the year 2020, is projected to reach a revised size of 464.6 Million Units by 2027, growing at a CAGR of 11.2% over the analysis period 2020-2027.

Sports & Fitness, one of the segments analyzed in the report, is projected to record a 10.1% CAGR and reach 280.4 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Remote Health Monitoring segment is readjusted to a revised 12.1% CAGR for the next 7-year period.

The U. S. Market is Estimated at 59.9 Million Units, While China is Forecast to Grow at 14.7% CAGR

The Wireless Health and Fitness Devices market in the U. S. is estimated at 59.9 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 99.2 Million Units by the year 2027 trailing a CAGR of 14.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.8% and 9.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.

Professional Healthcare Segment to Record 15.8% CAGR

In the global Professional Healthcare segment, USA, Canada, Japan, China and Europe will drive the 14.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of 13.8 Million Units in the year 2020 will reach a projected size of 36.4 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 68 Million Units by the year 2027, while Latin America will expand at a 17.5% CAGR through the analysis period.

The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Wireless Health and Fitness Devices: Enabling Intelligent, Convenient, Virtual, Passive, and Continuous Healthcare Monitoring

  • Growth Drivers in a Nutshell

  • Key Challenges Summarized

  • Recent Market Activity

  • Convergence of Health and Fitness Devices with Information Technology Transform the Healthcare Industry

  • Wireless Healthcare Devices: Merger of Consumer Electronics with Professional Medical Equipment

  • Wearable Technology: Intertwined Closely with the Expanding Healthcare Delivery Model

  • Products and Apps that Integrate Data from Varied Sources: Future of Fitness and Health Tracking Devices

  • Affordable Healthcare

  • Preventive Healthcare

  • Chronic Disease Management

  • Healthcare Services Anytime Anywhere

  • Key Challenges with Regard to Use of Wireless- based Solutions in the Healthcare System

  • Despite Limitations, Myriad Health and Wellness Benefits of Wireless Healthcare Devices Drive Widespread Adoption

  • Personalized Health and Fitness

  • Enhanced Sleep Quality

  • Healthcare and Insurance

  • Market Fortunes Intrinsically Tied to the Overall Medical Devices Industry

  • Future of Medical Devices is All About IT-Enabled Devices

  • 3D Printing: A Boom for Medical Device Manufacturing

  • Partnerships with Experts Essential for Wireless Medical Devices Manufacturing

  • Global Market Outlook

  • Developed Markets Dominate, while Developing Countries Spearhead Market Growth

  • Global Competitor Market Shares

  • Wireless Health and Fitness Devices Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

  • Abbott Diabetes Care, Inc. (USA)

  • adidas AG (Germany)

  • Alive Technologies Pty. Ltd. (Australia)

  • Apple, Inc. (USA)

  • ASUSTeK Computer, Inc. (Taiwan)

  • Beurer GmbH (Germany)

  • Dexcom, Inc. (USA)

  • Entra Health Systems LLC (USA)

  • Fitbit, Inc. (USA)

  • Garmin Ltd. (USA)

  • GE Healthcare (USA)

  • Google Inc. (USA)

  • iHealth Labs, Inc. (USA)

  • Intelesens Ltd. (UK)

  • Isansys Lifecare Ltd. (UK)

  • Motorola Mobility LLC (USA)

  • LG Electronics Inc. (South Korea)

  • LifeWatch AG (Switzerland)

  • Medtronic plc (Ireland)

  • Misfit, Inc. (USA)

  • NeuroSky, Inc. (USA)

  • Nike, Inc. (USA)

  • Nonin Medical, Inc. (USA)

  • Nokia Corporation (Finland)

  • Withings SA (France)

  • NUUBO Smart Solutions Technologies, SL (Spain)

  • Omron Healthcare Co., Ltd. (Japan)

  • Oregon Scientific, Inc. (USA)

  • Philips Healthcare (The Netherlands)

  • Polar Electro Oy (Finland)

  • Samsung Electronics Co., Ltd. (South Korea)

  • Sony Corporation (Japan)

  • Suunto Oy (Finland)

  • Under Armour, Inc. (USA)

  • Vital Connect, Inc. (USA)

  • Winmedical Srl (Italy)

  • Xiaomi Inc. (China)

3. MARKET TRENDS & DRIVERS

  • Rapid Proliferation of Smart and Intelligent Wireless Health and Fitness Devices: The Fundamental Growth Driver

  • Smart Fitness Trackers: Integrating Intelligent Programs and Smart Sensors for Real-time Communication of Vital Metrics

  • Wireless Professional Healthcare Devices Revolutionize Consumer Healthcare in Hospital Settings

  • Urgent Need for Democratization of Healthcare Drives Demand for Mobile Health (mHealth) Devices

  • mHealth: A Key Enabler of Data Outside the Hospital Setting

  • Digital Communication within the Hospital Setting Account for Largest Share of the mHealth Platform

  • mHealth for Tagging Mobility Aids and Hospital Staff

  • Bright Future Projected for mHealth Devices

  • Growing Prominence of Artificial Intelligence and Big Data Analytics in Digital Health Provides the Perfect Platform for Market Growth

  • Penetration of Wearable Health Devices Fuels Demand for Healthcare Big Data Analytics

  • Booming Demand for Big Data Applications in the Healthcare Sector

  • Growing Data from Wearable Devices Prompts Enterprises to Redesign Information Infrastructures

  • Rising Need to Reduce Human Dependency and Human-Associated Errors Drives Prospects for Healthcare IoT

  • Low Cost, Wide Usage of Sensors, and Other Benefits Drive Robust Adoption of Healthcare IoT

  • Key Challenges in the Adoption of Healthcare/Medical IoT

  • Increasing Incidence of Chronic Diseases Requiring Continuous Monitoring Benefits Market Expansion

  • Global Cardiovascular Disease (CVD) Prevalence and Wireless Devices for CVD Management

  • Global Diabetes Prevalence and Wireless Devices for Blood Glucose Monitoring

  • Global Hypertension Prevalence and Wireless Devices for Blood Pressure Monitoring

  • Wearable EEG Monitors

  • Wearables for Continuous Fetal Monitoring

  • Wearable Defibrillators

  • Smartphone Penetration & Declining Price of Connected Devices Drive Adoption of Health and Fitness Apps

  • Rising Importance of App Ecosystem

  • Wireless Home Healthcare Devices Market Offers Significant Prospects

  • Patient Monitoring Goes Wireless

  • Home Monitoring Device Market Set to Grow Rapidly

  • Remote Patient Monitoring Shows Promise in Enhancing Care Efficiency and Reducing Costs

  • Growing Need to Reduce Mortality and Morbidity Rates Boost Demand for Telemonitoring Devices

  • Wireless Devices Aids in Curtailing ER Visits

  • Immobile Patients to Gain from Increased Uptake of Remote Patient Monitoring Devices

  • Telehealth under Threat from Wireless Consumer Devices?

  • Aging Population and their Vulnerability to Various Health and Fitness Issues: A Vital Growth Driver

  • Wireless Sports & Fitness Devices Continue to Witness Rapid Growth

  • Smartwatches: Intelligent Wrist Wear for Today's Health Conscious, Digital, and Connected Individual

  • Wireless Devices for Corporate Wellness Programs Offer Huge Untapped Market Opportunities

  • Increasing Obesity Levels Drives Strong Consumer Interest in Heart Rate Monitors

  • Compatibility with Multiple Operating Systems Make Bluetooth Smart and ANT+ the Dominant Technologies in Wireless Healthcare Devices

  • Bluetooth in Medical Devices

  • Bluetooth Smart: Bluetooth Low Energy Standard (BLE) that Empowers Wireless Devices

  • Favorable Demographic & Economic Trends Strengthen Market Prospects

  • Exponential Increase in Urban Population

  • Increasing Affluence of the Ballooning Middle Class Population

  • Key Issues and Challenges Hampering Market Prospects for Wearable Medical Devices

  • Ranking of Factors Restraining Wearables Purchase

  • Battery Life Limitations

  • Privacy Concerns

  • Design Issues

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 130

For more information about this report visit https://www.researchandmarkets.com/r/dpw8my

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