Global Clinical-grade Wearables Growth Opportunities

Global Clinical-grade Wearables Growth Opportunities

An Influx of Consumer Wearables Companies Entering the Healthcare Space Boosts Future Growth Potential

RELEASE DATE
06-Sep-2022
REGION
Global
Research Code: K7D9-01-00-00-00
SKU: HC03583-GL-MT_26886
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Description

The healthcare industry is facing a shortage of resources, including its workforce. This strain has increased demand for remote monitoring technologies. Moreover, the COVID-19 pandemic has fueled demand for home-based care and telehealth services. This sudden increase in remote monitoring and home-based care is driving demand for regulated monitoring devices. Wearable devices aid in continuous remote monitoring of patients and are used for disease diagnosis and treatment.

Additionally, wearable devices used for the continuous monitoring of patients in hospital wards to reduce hospital staff workload, provide patient mobility, and detect early health deterioration are boosting market growth potential. Consumers have also started adopting wearable devices to monitor their chronic diseases. Moreover, the growing geriatric population drives demand for wearable devices at nursing homes and home-based hospitals.

Many consumer-grade wearable device companies, such as Apple and Fitbit, are entering the medical-grade wearables market to meet increasing demand. These companies are gaining regulatory clearance for product features such as atrial fibrillation detection for cardiac arrythmia monitoring. Consequently, the market is experiencing a convergence between consumer-grade and medical-grade wearable devices.

In this study, the global clinical-grade wearables market is segmented into cardiac wearables, clinical-grade consumer wearables, blood pressure monitors, and multiparameter monitors. Cardiac wearables are the fastest growing device segment due to increasing demand for continuous ECG monitoring, the most targeted feature for regulatory approval by consumer wearable device companies. Blood pressure monitoring is another popular feature poised to gain traction. North America is the largest market for wearable devices, while Asia-Pacific is the fastest-growing market because of increasing acceptance of remote monitoring technologies.

This study will provide a detailed overview of clinical- or medical-grade wearable devices for monitoring and diagnosis. It covers clinical-grade wearables for vital sign monitoring, cardiovascular monitoring, and physiological parameter tracking. The study period is 2019–2026.

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Clinical-grade Wearables Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Clinical-grade Wearables Market Scope of Analysis

Segmentation

Key Competitors

Growth Metrics

Wearables—Market Definitions

Clinical-grade Wearables—Applications

Growth Drivers

Growth Drivers (continued)

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Product

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis by Region

Pricing Trends and Forecast Analysis

Competitive Environment

Revenue Share

Revenue Share Analysis

Revenue Share

Revenue Share Analysis

Revenue Share Analysis (continued)

Wearables as Monitoring Devices

Wearables in the Monitoring Market

Clinical-grade Wearables—Monitoring Parameter Analysis

Clinical-grade Wearables—Device Type and Location

Growth Metrics

Revenue Forecast

Revenue Forecast by Region

Forecast Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Region

Forecast Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Region

Forecast Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Region

Forecast Analysis

Clinical-grade Wearables—Business Models

Clinical-grade Wearables—Future Outlook

Growth Opportunity 1: Customizable Service-based Solutions and Platforms

Growth Opportunity 1: Customizable Service-based Solutions and Platforms (continued)

Growth Opportunity 2: AI-based Wearables Offering Early Disease Prediction and Predictive Insights

Growth Opportunity 2: AI-based Wearables Offering Early Disease Prediction and Predictive Insights (continued)

Growth Opportunity 3: Continuous Remote Monitoring for Home-based Care

Growth Opportunity 3: Continuous Remote Monitoring for Home-based Care (continued)

Growth Opportunity 4: Wearable Vital Sign Monitoring Devices for Hospitals

Growth Opportunity 4: Wearable Vital Sign Monitoring Devices for Hospitals (continued)

Growth Opportunity 5: Multiparameter Monitoring with Better Accuracy and Longer Battery Life

Growth Opportunity 5: Multiparameter Monitoring with Better Accuracy and Longer Battery Life (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The healthcare industry is facing a shortage of resources, including its workforce. This strain has increased demand for remote monitoring technologies. Moreover, the COVID-19 pandemic has fueled demand for home-based care and telehealth services. This sudden increase in remote monitoring and home-based care is driving demand for regulated monitoring devices. Wearable devices aid in continuous remote monitoring of patients and are used for disease diagnosis and treatment. Additionally, wearable devices used for the continuous monitoring of patients in hospital wards to reduce hospital staff workload, provide patient mobility, and detect early health deterioration are boosting market growth potential. Consumers have also started adopting wearable devices to monitor their chronic diseases. Moreover, the growing geriatric population drives demand for wearable devices at nursing homes and home-based hospitals. Many consumer-grade wearable device companies, such as Apple and Fitbit, are entering the medical-grade wearables market to meet increasing demand. These companies are gaining regulatory clearance for product features such as atrial fibrillation detection for cardiac arrythmia monitoring. Consequently, the market is experiencing a convergence between consumer-grade and medical-grade wearable devices. In this study, the global clinical-grade wearables market is segmented into cardiac wearables, clinical-grade consumer wearables, blood pressure monitors, and multiparameter monitors. Cardiac wearables are the fastest growing device segment due to increasing demand for continuous ECG monitoring, the most targeted feature for regulatory approval by consumer wearable device companies. Blood pressure monitoring is another popular feature poised to gain traction. North America is the largest market for wearable devices, while Asia-Pacific is the fastest-growing market because of increasing acceptance of remote monitoring technologies. This study will provide a detailed overview of clinical- or medical-grade wearable devices for monitoring and diagnosis. It covers clinical-grade wearables for vital sign monitoring, cardiovascular monitoring, and physiological parameter tracking. The study period is 2019–2026.
More Information
Author Utkarsha soundankar
Industries Healthcare
No Index No
Is Prebook No
Keyword 1 Wearable Medical Devices Market
Keyword 2 wearable blood pressure monitor
Keyword 3 wearable medical devices
Podcast No
WIP Number K7D9-01-00-00-00