DUBLIN--(BUSINESS WIRE)--The "Connected Wearable Devices in Healthcare: Wearables in Medical, Wellness, and Fitness Markets by Device Type, Body Area, Solution Type (Prevention, Monitoring, and Treatment), and Health Concerns 2019 - 2024" report has been added to ResearchAndMarkets.com's offering.
This report evaluates the current state of the wearable technology ecosystem including devices, applications, and services within the medical, wellness, and fitness markets. The report addresses key challenges, market players, and solutions.
The report also provides an outlook for the future of wearable devices in medical, wellness, and fitness with forecasts for the period 2019-2024. This includes insights and opinions about the future of wearable technology in healthcare including future devices (such as implantables), IoT integration, and advanced data management.
There is great demand in the healthcare industry for remote monitoring and diagnostics. Driving factors include healthcare cost inflation coupled with a rapidly aging global population within the developed countries. For example, 20 percent of United States residents are projected to be age 65 or older by 2030.
Improving supply factors include improvements in electronics miniaturization and innovation leading to reduced device cost. R&D in wearable healthcare devices is leading to enhanced functionality, form factor improvements, and frictionless integration with the Internet of Things (IoT) systems and solutions.
Machine-to-Machine (M2M) communication enables wearable healthcare devices to communicate autonomously with monitoring systems for both real-time decision making and data gathering for future analysis. Secure M2M enabled data transport and IoT system connectivity facilitates the integration of healthcare info with data analytics solutions. Advanced healthcare data management solutions, supported by artificial intelligence, are capable of processing massive amounts of healthcare information, including unstructured data acquired from many different sources and contexts.
One of the core reasons for wearables in healthcare is to transmit information for medical support from a licensed professional. However, there is also a market for quantified self in healthcare, which refers to the incorporation of technology into data acquisition on aspects of a person's daily life. This enables a Do it Yourself (DIY) tool for consumers to self-monitor and self-report important wellness items such as blood pressure.
Wearable devices for medical, wellness and fitness purposes are many and varied, consisting of various form factors depending on the purpose and placement of the human body. Wearable devices can worn and/or integrated into apparel to become less intrusive. Sensors (biomechanical, motion, etc.) may be placed at specific parts of the body to communicate with an overall Body Area Network system.
Looking beyond simply wearables is the emerging area of implantables (e.g. devices implanted within the body). This includes everything from pacemakers to devices that monitor key wellness levels within the body such as blood-sugar, reducing or illuminating the need for direct patient involvement. Miniaturization of monitoring devices and power sources has opened up new opportunities for wearable and implantable technologies. This is especially true in the field of healthcare, an industry that is in great need for mass-personalization at efficient and effective scale and scope.
- The healthcare-related skin patches market will reach $630M by 2024, growing at 20.2% CAGR
- Wearable devices for vital signs monitoring will be $980M market by 2024, growing at 21.7% CAGR
- Areas of concern are data security and privacy as well as opportunities for advanced data analytics
- One of the key growth areas for wearable healthcare devices integration is implantable medical technology
- Remote data collection solutions will substantially enhance the operational efficiency of healthcare services
- Wearable devices and IoT will reduce human intervention in healthcare, enabling context-based automation
1 Executive Summary
2.1 Wearable Technology Perspective
2.2 Wearable Technology Market: Demand vs. Supply Side
2.3 Wearable Technology Market Opportunities
2.4 Wearable Technology Market Constraints
3 Wearable Technology Ecosystem
3.1 Wearable Technology Device and Application
3.2 Sensors in Wearable Systems
3.3 Wearables and Cloud Environment
3.4 Wearable Technology Adoption Factors
3.5 Wearable Device and Data Access Factors
3.6 Wearable Technology Future
3.7 Wearable Technology Key Success Factors
3.8 Evolution of the Wearable Tech Ecosystem
4 Wearable Devices in Medical, Wellness, and Fitness Market Forecasts
4.1 Wearable Device Revenue Forecasts 2019-2024
4.2 Wearable Device Deployment Forecast 2019-2024
5 Company Analysis
5.1 Xiaomi Technology Co. Ltd.
5.2 Guangdong BBK Electronics Industry Co. Ltd.
5.3 Alphabet Inc.
5.4 Lifesense Group B.V.
5.5 Johnson & Johnson
5.6 Smiths Group PLC
5.7 Roche Holding AG
5.11 Medtronic PLC
5.34 StarVR Corp.
5.40 Leapfrog Enterprises Inc.
5.41 LG Electronics
5.42 LifeBEAM Inc.
5.43 Meta Company
5.44 Mio Global
5.46 Monster Inc.
5.48 Nike Inc.
5.49 NTT Docomo Inc.
5.50 Oculus VR LLC
5.52 Actofit Wearables
5.54 Polar Electro
5.55 Qardio Inc.
5.56 Recon Instruments
5.57 Reebok International Limited
5.58 Samsung Electronics Co. Ltd.
5.60 Sony Corporation
5.61 Soundbrenner Limited
5.62 Sqord Inc.
5.64 Thalmic Labs Inc.
5.65 Timex.com Inc.
5.67 Tobii AB
5.69 Weartrons Labs
5.71 Zepp US Inc.
5.72 ZTE Corporation
6 Conclusions and Recommendations
6.1 Future of Wearable Devices in Healthcare
6.2 Future Devices
6.2.1 Increased System and Device Integration
6.2.2 Implantable Medical Devices
For more information about this report visit https://www.researchandmarkets.com/research/7zp79h/connected?w=4