At a compound annual growth rate of 13.1 %, the size of the worldwide Smart Wearables in Healthcare market is projected to reach USD 37.4 Billion in 2028.
Key factor probable of driving the smart wearables in healthcare market growth in upcoming years include prompt technological advancements by wearable devices technologies in order to enhance their performance. Moreover, constant introduction of innovative as well as cutting-edge smart wearable technologies in the market is further boosting the smart wearable in healthcare market growth across the globe. On the other hand, higher cost of these devices plus lack of awareness in terms of technology are major factors expected to restraint the growth market in future foresee.
In addition, smart wearable in healthcare devices like glucose monitor and heart rate monitor are highly used as well as suggested wearable technologies by healthcare and medical professionals, owing to rising need for continuous monitoring of patient's health in hospitals. Thus, the demand for the product is expected to impel in healthcare & medical sector by the end of forecast spell.
Global smart wearable in healthcare market has been segmented by different function, devices, application and geography. Further, device segment of the market is bifurcated into medical devices, smart watch, smart glasses, wrist bands, fitness trackers, activity monitors, sport watches, smart clothing, ear wear and others. Likewise, application segment of the smart wearable in healthcare market is sub-divided into infotainment, fitness & wellness, fashion & lifestyle, safety & security, healthcare & medical and others. Based on function, market is sub-segmented into sensing, energy harvesting, luminescence & aesthetics, thermo-electricity and others.
Geographically, North America is anticipated to rule the market with major smart wearable in healthcare market share, owing to various advancement in the technologies of the devices and presence of large number of prominent players in the U.S. Europe is also one of the potential market that is trailed by the markets of Asia-Pacific Region.
Some of the key players operating in the competitive edge of Smart Wearables in healthcare market across the globe include Apple Inc., Samsung Electronics Co. Ltd, Adidas Group Inc., Garmin Ltd., NIKE, Fitbit Inc., Sony Corporation, Motorola Corporation, LG Electronics Inc., Qualcomm Inc., Withings SA, Pebble Technology Corp. and Xiaomi Technology Co. Ltd.
Key segments of the global Smart Wearables in healthcare market include:
Devices segment of Smart Wearable Devices in healthcare market:
- Smart Watch
- Medical Devices
- Smart Glasses
- Wrist Bands
- Ear Wear
- Fitness Trackers
- Sport Watches
- Activity Monitors
- Smart Clothing
Function of Smart Wearable Devices in healthcare market:
- Energy Harvesting
- Luminescence and Aesthetics
Application of Smart Wearable Devices in healthcare market:
- Fitness & Wellness
- Fashion & Lifestyle
- Safety & Security
- Healthcare & Medical
Geographical segmentation of Smart Wearable Devices in healthcare market:
- Asia Pacific
- North America
- Latin America