Global Clinical-Grade Wearable Market

Report ID : 1362 | Published : 2022-09-27 | Pages: | Format: PDF/EXCEL

The Global Clinical-Grade Wearable Market size was valued at US$ 19.55 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 25.56% from 2022 to 2030. Existing clinical-grade medical wearable devices primarily monitor certain aspect of a person's physical activity. Because of this, it serves as a useful example to assess the opportunities and obstacles facing the development of digital health utilising wearables. Clinical trials are one application within the healthcare industry that stands to gain significantly from using medical wearables. The intelligent gadgets can capture real-world data (RWD), which provides a more objective and thorough assessment of the patient's health status than questionnaires. In addition, they encourage the participants to take a more active role in the research process and lessen the necessity of frequent doctor's appointments. The digital pill is undoubtedly one of the most impressive developments that have come about as a direct result of the downsizing of technology. These sensors can be taken in through the mouth for consumption. These capsules' primary applications for imaging, monitoring medication, gas sensing, and electrochemical gas sensing are presented here. Patients who are diagnosed with multiple sclerosis might have their health tracked in a continuous manner using wearable medical technology.

Superior adoption of clinical-grade wearables among both patients and healthcare professionals is being fueled by some factors, including the increasing use of connected devices for the management of chronic diseases, a focus on cost containment in healthcare delivery, a focus on patient-centric healthcare delivery, and the rising demand for home healthcare services. Rockley Photonics and Medtronic had announced that they would collaborate to create wearable monitoring devices. Rockley and Medtronic will develop wearable health monitoring devices cooperatively. The new partnership aims to incorporate Rockley's innovative Bioptx biomarker sensing platform into Medtronic's solutions for usage in several healthcare settings.

However, in the Clinical-Grade Wearable Market, there is a lack of rules and regulations, as well as a lack of accuracy, standardisation, and analysis of the data that is created by wearables. In the coming years, the market for clinical-grade wearables is projected to be hampered by factors such as its high cost, difficulties with maintaining data security, and unfavourable reimbursement regulations.

The clinical-grade wearable market is segmented into three major segments including Product, Site and Application. The Product segment is again classified into  Diagnostic Devices (Vital Sign Monitoring Devices (Heart Rate Monitors, Activity Monitors, Electrocardiographs, Pulse Oximeters, Spirometers, Blood Pressure Monitors, and Others), Sleep Monitoring Devices (Sleep trackers, Wrist Actigraphs, Polysomnographs, Others), Electrocardiographs Fetal And Obstetric Devices, Neuromonitoring Devices (Electroencephalographs, Electromyographs, Others)), Therapeutic Devices (Pain Management Devices(Neurostimulation Devices, Others), Insulin/Glucose Monitoring Devices (Insulin Pumps, Others), Rehabilitation Devices (Accelerometers, Sensing Devices, Ultrasound Platform, Others), Respiratory Therapy Devices (Ventilators, Positive Airway Pressure (PAP) Devices, Portable Oxygen Concentrators, and Others). The second segmentation is by Site which has Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, and Others. The last and third segment is the end-user segment that includes Sports And Fitness, Remote Patient Monitoring, and Home Healthcare.

During the forecast period, North America is anticipated to represent a substantial portion of the global market's growth.The region's strong market share can be ascribed to the high acceptance rate of advanced projects, significant reimbursement coverage, and the introduction of new firms with innovative technology. Furthermore, the high prevalence of chronic illnesses places a significant financial burden on the country and drives up the demand for low-cost medical care. This is driving the need for clinical-grade wearable gadgets in the area.

The significant market share holders are Abbott Laboratories, Apple, Inc., Basis Science, Bio-Beat Technologies, Biotelemetry, Inc., Biotricity Inc., Contec Medical Systems Co. Ltd., Covidien, Cyrcardia Asia Limited, Dexcom, Inc., Fitbit, Garmin, Ge Healthcare, Intelesens Ltd., Irhythm Technologies, Inc., Koninklijke Philips N.V., Masimo Corporation, Medtronic Plc, Minttihealth, Omron Healthcare Co., Ltd. (A Part Of Omron Corporation), Polar Electro Preventice Solutions, Inc., Sotera Wireless, Ten3t Healthcare, Verily Life Sciences (A Part Of Alphabet Inc.), verist Genomics, Vitalconnect, Vivalnk, Inc., Withings, and Other Prominent Players.

  • Abbott Laboratories
  • Apple, Inc.
  • Basis Science
  • Bio-Beat Technologies
  • Biotelemetry, Inc.
  • Biotricity Inc.
  • Contec Medical Systems Co. Ltd.
  • Covidien
  • Cyrcardia Asia Limited
  • Dexcom, Inc.
  • Fitbit
  • Garmin
  • Ge Healthcare
  • Intelesens Ltd.
  • Irhythm Technologies, Inc.
  • Koninklijke Philips N.V.
  • Masimo Corporation
  • Medtronic Plc
  • Minttihealth
  • Omron Healthcare Co., Ltd. (A Part Of Omron Corporation)
  • Polar Electro
  • Preventice Solutions, Inc.
  • Sotera Wireless
  • Ten3t Healthcare
  • Verily Life Sciences (A Part Of Alphabet Inc.)
  • verist Genomics
  • Vitalconnect
  • Vivalnk, Inc.
  • Withings
  • Other Prominent Players

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Clinical-Grade Wearable Market Snapshot

Chapter 4. Global Clinical-Grade Wearable Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Product Type Estimates & Trend Analysis

5.1. By Product Type & Market Share, 2020 & 2030

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Product Type:

5.2.1. Diagnostic Devices

5.2.1.1. Vital Sign Monitoring Devices

5.2.1.1.1. Heart Rate Monitors

5.2.1.1.2. Activity Monitors

5.2.1.1.3. Electrocardiographs

5.2.1.1.4. Pulse Oximeters

5.2.1.1.5. Spirometers

5.2.1.1.6. Blood Pressure Monitors

5.2.1.1.7. Others

5.2.1.2. Sleep Monitoring Devices

5.2.1.2.1. Sleep trackers

5.2.1.2.2. Wrist Actigraphs

5.2.1.2.3. Polysomnographs

5.2.1.2.4. Others

5.2.1.3. Electrocardiographs Fetal And Obstetric Devices

5.2.1.4. Neuromonitoring Devices

5.2.1.4.1. Electroencephalographs

5.2.1.4.2. Electromyographs

5.2.1.4.3. Others

5.2.2. Therapeutic Devices

5.2.2.1. Pain Management Devices

5.2.2.1.1. Neurostimulation Devices

5.2.2.1.2. Others

5.2.2.2. Insulin/Glucose Monitoring Devices

5.2.2.2.1. Insulin Pumps

5.2.2.2.2. Others

5.2.2.3. Rehabilitation Devices

5.2.2.3.1. Accelerometers

5.2.2.3.2. Sensing Devices

5.2.2.3.3. Ultrasound Platform

5.2.2.3.4. Others

5.2.2.4. Respiratory Therapy Devices

5.2.2.4.1. Ventilators

5.2.2.4.2. Positive Airway Pressure (PAP) Devices

5.2.2.4.3. Portable Oxygen Concentrators

5.2.2.4.4. Others

Chapter 6. Market Segmentation 2: By Site Estimates & Trend Analysis

6.1. By Site & Market Share, 2020 & 2030

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Site:

6.2.1. Handheld

6.2.2. Headband

6.2.3. Strap/Clip/Bracelet

6.2.4. Shoe Sensors

6.2.5. Others

Chapter 7. Market Segmentation 3: By Application Estimates & Trend Analysis

7.1. By Application & Market Share, 2020 & 2030

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Application:

7.2.1. Sports And Fitness

7.2.2. Remote Patient Monitoring

7.2.3. Home Healthcare

Chapter 8. Clinical-Grade Wearable Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts By Product Type, 2022-2030

8.1.2. North America Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts By Site, 2022-2030

8.1.3. North America Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts by Application, 2022-2030

8.1.4. North America Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts by country, 2022-2030

8.2. Europe

8.2.1. Europe Clinical-Grade Wearable Market revenue (US$ Million) By Product Type, 2022-2030

8.2.2. Europe Clinical-Grade Wearable Market revenue (US$ Million) By Site, 2022-2030

8.2.3. Europe Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts by Application, 2022-2030

8.2.4. Europe Clinical-Grade Wearable Market revenue (US$ Million) by country, 2022-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Clinical-Grade Wearable Market revenue (US$ Million) By Product Type, 2022-2030

8.3.2. Asia Pacific Clinical-Grade Wearable Market revenue (US$ Million) By Site, 2022-2030

8.3.3. Asia Pacific Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts by Application, 2022-2030

8.3.4. Asia Pacific Clinical-Grade Wearable Market revenue (US$ Million) by country, 2022-2030

8.4. Latin America

8.4.1. Latin America Clinical-Grade Wearable Market revenue (US$ Million) By Product Type, (US$ Million)

8.4.2. Latin America Clinical-Grade Wearable Market revenue (US$ Million) By Site, (US$ Million)

8.4.3. Latin America Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts by Application, 2022-2030

8.4.4. Latin America Clinical-Grade Wearable Market revenue (US$ Million) by country, 2022-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Clinical-Grade Wearable Market revenue (US$ Million) By Product Type, (US$ Million)

8.5.2. Middle East & Africa Clinical-Grade Wearable Market revenue (US$ Million) By Site, (US$ Million)

8.5.3. Middle East & Africa Clinical-Grade Wearable Market revenue (US$ Million) estimates and forecasts by Application, 2022-2030

8.5.4. Middle East & Africa Clinical-Grade Wearable Market revenue (US$ Million) by country, 2022-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Abbott Laboratories

9.2.2. Apple, Inc.

9.2.3. Basis Science

9.2.4. Bio-Beat Technologies

9.2.5. Biotelemetry, Inc.

9.2.6. Biotricity Inc.

9.2.7. Contec Medical Systems Co. Ltd.

9.2.8. Covidien

9.2.9. Cyrcardia Asia Limited

9.2.10. Dexcom, Inc.

9.2.11. Fitbit

9.2.12. Garmin

9.2.13. Ge Healthcare

9.2.14. Intelesens Ltd.

9.2.15. Irhythm Technologies, Inc.

9.2.16. Koninklijke Philips N.V.

9.2.17. Masimo Corporation

9.2.18. Medtronic Plc

9.2.19. Minttihealth

9.2.20. Omron Healthcare Co., Ltd. (A Part Of Omron Corporation)

9.2.21. Polar Electro

9.2.22. Preventice Solutions, Inc.

9.2.23. Sotera Wireless

9.2.24. Ten3t Healthcare

9.2.25. Verily Life Sciences (A Part Of Alphabet Inc.)

9.2.26. verist Genomics

9.2.27. Vitalconnect

9.2.28. Vivalnk, Inc.

9.2.29. Withings

9.2.30. Other Prominent Players

Market Segmentation:

Global Clinical-Grade Wearable Market, by Product Type, 2022-2030 (Value US$ Bn)

  • Diagnostic Devices
    • Vital Sign Monitoring Devices
      • Heart Rate Monitors
      • Activity Monitors
      • Electrocardiographs
      • Pulse Oximeters
      • Spirometers
      • Blood Pressure Monitors
      • Others
    • Sleep Monitoring Devices
      • Sleep trackers
      • Wrist Actigraphs
      • Polysomnographs
      • Others
    • Electrocardiographs Fetal And Obstetric Devices
    • Neuromonitoring Devices
      • Electroencephalographs
      • Electromyographs
      • Others
  • Therapeutic Devices
    • Pain Management Devices
      • Neurostimulation Devices
      • Others
    • Insulin/Glucose Monitoring Devices
      • Insulin Pumps
      • Others
    • Rehabilitation Devices
      • Accelerometers
      • Sensing Devices
      • Ultrasound Platform
      • Others
    • Respiratory Therapy Devices
      • Ventilators
      • Positive Airway Pressure (PAP) Devices
      • Portable Oxygen Concentrators
      • Others
  • Global Clinical-Grade Wearable Market, by Site, 2022-2030 (Value US$ Bn)

 

  • Handheld
  • Headband
  • Strap/Clip/Bracelet
  • Shoe Sensors
  • Others

Global Clinical-Grade Wearable Market, by Application, 2022-2030 (Value US$ Bn)

  • Sports And Fitness
  • Remote Patient Monitoring
  • Home Healthcare

 

Global Clinical-Grade Wearable Market, by Region, 2022-2030 (Value US$ Bn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)

  • U.S.
  • Canada

Europe Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia Pacific Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Clinical-Grade Wearable Market, by Country, 2022-2030 (Value US$ Bn)

  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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