Global Wireless Health and Fitness Devices Market Report 2022-2026 – Integration of Wearables into Telemedicine Explodes Into a Major Trend
Global Wireless Health and Fitness Devices Market to Reach 573.7 Million Units by 2026
Amid the COVID-19 crisis, the global market for Wireless Health and Fitness Devices estimated at 280 Million Units in the year 2020, is projected to reach a revised size of 573.7 Million Units by 2026, growing at a CAGR of 12.1% over the analysis period.
Sports & Fitness, one of the segments analyzed in the report, is projected to record a 11.2% CAGR and reach 361.4 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Remote Health Monitoring segment is readjusted to a revised 12.8% CAGR for the next 7-year period.
In times of COVID-19, significant focus is being shed on health and fitness. Exercise is one of the indispensable components of the holistic approach to healthy and quality living. Physical activity combined with a well-balanced diet is a perfect recipe for stimulating and strengthening the immune system that safeguards the host from diseases and infections.
The pandemic is profoundly influencing the everyday life of consumers around the world. Social, financial, physical, emotional and environmental issues are topping the priority list for consumers. Given that stress can weaken the immune system and compromise overall health and well-being, consumers are beginning to spend additional time, money, and resources on lifestyle changes, fitness routines, and food habits to deal with the pandemic.
The U.S. Market is Estimated at 136.4 Million Units in 2021, While China is Forecast to Reach 59.9 Million Units by 2026
The Wireless Health and Fitness Devices market in the U.S. is estimated at 136.4 Million Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 59.9 Million Units by the year 2026 trailing a CAGR of 14.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.8% and 11.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.2% CAGR.
Health monitors are appearing in all shapes and sizes, ranging from wearables such as wrist bands to smart watches as well as their integration with mobile phones. Moreover, the capabilities of the devices and apps are increasing with new technological advances, making them more accurate and evolve into complete healthcare solutions. Fitness wearables are among the most prevalent technology aids that are helping users to keep track of various aspects of their lifestyles and fitness regimens.
Consumers are increasingly opting for wearable wireless sports, fitness and wellness devices with the intention of keeping themselves healthy and safe. With growing health awareness, focus on leading active lifestyle, alarming rise in obesity & related problems, and rising health risks of a sedentary lifestyle, there has been a growing emphasis on staying healthy and fit. Increasing spending power in developing countries, large-scale modernization, and highly advanced and cost-effective wireless healthcare technologies are thus fuelling growth in the market.
As a result, sports, activity, and fitness monitoring technologies are emerging as promising segment of the overall consumer electronics market. Driven by the Quantified Self trend, wearable devices for sports and fitness continue to gain the attention of consumers and enthusiasts alike as wearable fitness devices help users in collecting and measuring data based on the user`s physical condition and performance.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- COVID-19 Catalyzes Consumer Engagement With Health & Wellbeing Technologies
- Wireless Health & Fitness Devices Market Escapes the Ravages of the Virus Induced Economic Recession
- A Synopsized Review of the State of the Battered Global Economy
- Unemployment Rates at Historical Highs Destroys a Multitude of Industries Dependent on Discretionary Income
- Budgeting for Health! Spending on Health is No Longer Discretionary. COVID-19 Underlines the Importance of Immunity in Today’s World
- Fitness Routine Changes of People as A Result of COVID-19
- A Key Part of This At-Home Fitness Trend is Self-Management of Active Lifestyle Where Wearables Play a Major Role
- Wireless Health & Fitness Devices: Scope & Definition
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 118 Featured)
- Abbott Diabetes Care, Inc.
- adidas AG
- Alive Technologies Pty. Ltd.
- Apple, Inc.
- ASUSTeK Computer, Inc.
- Beurer GmbH
- Dexcom, Inc.
- Entra Health Systems LLC
- Fitbit, Inc.
- Garmin Ltd.
- GE Healthcare
- Google Inc.
- iHealth Labs, Inc.
- Intelesens Ltd.
- Isansys Lifecare Ltd.
- Motorola Mobility LLC
- LG Electronics Inc.
- Medtronic plc
- Misfit, Inc.
- NeuroSky, Inc.
- Nike, Inc.
- Nonin Medical, Inc.
- Nokia Corporation
- Withings SA
- NUUBO Smart Solutions Technologies, SL
- Omron Healthcare Co., Ltd.
- Oregon Scientific, Inc.
- Philips Healthcare
- Polar Electro Oy
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Suunto Oy
- Under Armour, Inc.
- Vital Connect, Inc.
- Winmedical Srl
- Xiaomi Inc.
3. MARKET TRENDS & DRIVERS
- COVID-19 Accelerates Digital Transformation of Healthcare
- Ready for Disruption! Among the Digital Technologies, Benefiting Are Health & Fitness Wearables
- Market Outlook: A Recapitulation
- Hospitals Wake Up to the Benefits of Wireless Health Devices
- Rising Healthcare Costs Drives Focus on Wearables for Their Ability to Reduce Cost of Healthcare
- Equity in Healthcare is a Burning Global Issue. Wireless Health and Fitness Devices Storm Into the Spotlight For Their Ability to Democratize Healthcare
- As Smart Homes Evolve Into Portals for Healthcare Delivery, Home Health Hubs Emerge Into a Major Growth Driving Force
- As Smart Homes Become Self-Care Hubs of the Future, Adoption of Smart Wearables Will Receive a Boost
- Integration of Wearables into Telemedicine Explodes Into a Major Trend
- COVID-19 Pandemic Accelerates Telemedicine Adoption
- Role of Wearables in Telemedicine
- Role of AI in Wearables Gets Bigger
- Increasing Incidence of Chronic Diseases Requiring Health Risk Assessment & Continuous Monitoring Benefits Market Growth
- Rising Cardiovascular Disease Burden Drives Demand for Wireless Devices for CVD Management
- Epidemic Global Diabetes Prevalence Spurs Opportunities for Wireless Devices for Blood Glucose Monitoring
- COVID-19 Sharpens Focus on Self-Monitoring of Blood Glucose (SMBG)
- Rising Global Hypertension Prevalence Drives Opportunities for Wireless Devices for Blood Pressure Monitoring
- Rapidly Aging World Population & COVID-19 Induced Re-Focus on Aging-In-Place to Drive Demand for Remote Patient Monitoring
- Wearables Emerge to be a Major Enabler of Remote Health Monitoring
- Emerging From the Growing Trend Towards Aging-in-Place is the Rising Popularity of PERS
- Smartwatches: the Poster Child of Fitness Wearables
- Increasing Obesity Levels Underpins Strong Potential for Pedometers & Heart Rate Monitors
- Wellness Becomes a Bigger Priority for Companies Amid the Pandemic, Wireless Devices for Corporate Wellness Programs Offer Huge Opportunities for Growth
- With Rapid Adoption of Wearables Comes the Big Question of How to Manage “Big Data of Wearables”
- Bluetooth: An Important Enabling Technology for Wireless Wearable Devices
- Battery Power Being Vital for Wearable Technology is a Major Area Identified for Innovation & R&D
- Privacy & Data Issues Continue to Plague the Market