The global wireless health and fitness devices market is expected to grow with a healthy CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the advancements in development methods and innovations of components utilized in these devices along with a rise in the standard of living of individuals resulting in continuous monitoring of their health.
Few of the major competitors currently working in the global wireless health and fitness devices market are adidas AG; Omron Healthcare, Inc.; IDEAL LIFE INC.; ASUSTeK Computer Inc.; Google; BioTelemetry, Inc.; Abbott; Koninklijke Philips N.V.; Misfit; Analog Devices, Inc.; Intelesens Ltd; Fitbit, Inc.; Entra Health Systems; Texas Instruments Incorporated; Nike, Inc.; Alive Technologies; ON Semiconductor; Renesas Electronics Corporation; Garmin Ltd.; Maxim Integrated; Apple Inc.; Beurer GmbH; Xiaomi; Isansys Ltd.; VitalConnect and FitLinxx, Inc., Others.
Wireless health and fitness devices are specially designed medical devices that continually monitor and report the health of the wearer to a remote storage device or display the vital signs to the wearer. These devices are interconnected with various sensors, storage infrastructures, which are used to diagnose, monitor and treat the health of the wearer.
- Rise in awareness regarding the health of the individuals and benefits associated with continuous monitoring of their health is a factor positively affecting the growth of the market
- Increasing prevalence of adoption of smart healthcare devices amid need for reduction of healthcare monitoring errors; this factor is expected to positively affect the growth of the market
- Rising prevalence of chronic diseases globally resulting in requirement of monitoring of health in patients; this factor is expected to drive the growth of the market
- Lack in the presence of reimbursement policies regarding the implementation and adoption of these devices is expected to act as a restraint to the growth of the market
- Large costs associated with the devices are expected to restrain the growth of the market
Segmentation: Global Wireless Health and Fitness Devices Market
- Sports & Fitness Devices
- Smart Watch
- Smart Clothing
- Fitness Bands
- Remote Health Monitoring Devices
- Pulse Oximeters
- Professional Healthcare Devices
- Sports & Fitness Institutes
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
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Key Developments in the Market:
- In July 2017, BioTelemetry, Inc. announced that they had completed the acquisition of LifeWatch AG. This acquisition will establish BioTelemetry, Inc. as a market leader for remote and diagnostic cardiac monitoring services and products. They are planning to expand their capabilities in expanding into various different healthcare segments with this acquisition.
- In January 2017, Fitbit, Inc. announced the acquisition of Vector Watch. The company based out of Romania, Europe will help in the development of new products with enhanced technological implementation. Although, the deal only includes the software assets and not the hardware, Fitbit has announced that they will fulfil the warranty requirement and repairing of existing customers of Vector Watch.
Competitive Analysis: Global Wireless Health and Fitness Devices Market
Global wireless health and fitness devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wireless health and fitness devices market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Reasons to Purchase this Report
- Current and future of global wireless health and fitness devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)