Europe Wearable Medical Devices Market

Europe Wearable Medical Devices Market by Device Types (Monitoring Devices [Vital Sign Monitoring Devices, Sleep Monitoring Devices, Electrocardiographs, Fetal and Obstetric Devices, and Neuromonitoring Devices] and Therapeutic Devices [Pain Management Devices, Rehabilitation Devices, Respiratory Therapy Devices, and Others]), Applications (Sports and Fitness, Remote Patient Monitoring, and Home Healthcare), Product Types (Watches, Wristbands, Ear Wears, and Others), and Geography (Germany, The UK, France, Italy, Spain, and Rest of Europe) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 –2028

  • Report ID: HC-3748
  • Author: Growth Market Reports
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  • No. Of Pages: 179
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The Europe wearable medical devices market size is projected to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing health awareness.

Europe Wearable Medical Devices Market Key Takeaways

Wearable medical device is a sensor that detect and analyze changes in the body such as glucose level, insulin levels, heart diseases, blood pressure ingestion, brain activity, hydration, and temperature. Consumers can wear smartwatches that are vital electronic devices in healthcare technology. They are used for collecting data about patient health, track medications, follow the recovery of patients after surgery, track sleep by using commercial and personal-grade devices, exercise habits, and also communicate with healthcare professional in real time. A fitness tracker, set of earbuds, smart clothing system, and glasses are some examples of wearable medical devices.

The COVID-19 pandemic negatively impacted the wearable medical devices market due to supply chain disruption and production facilities. Moreover, many scheduled product launches and related developments were postponed during the pandemic.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for technological advancements in software & hardware components is projected to boost the market growth in the coming years.
  • Rising growth prospects of next-generation displays in wearable devices is anticipated to the market growth during the forecast period.
  • Growing geriatric population is estimated to spur the market growth in the coming years.
  • Rising incidence of chronic diseases is projected to boost the market growth in the coming years.
  • Increasing per capita health spending is anticipated to the market growth during the forecast period.
  • Rising awareness toward early disease diagnosis is estimated to spur the market growth in the coming years.
  • Increasing demand for minimally invasive and contactless diagnostic and therapeutic uses of wearable medical devices is projected to boost the market growth in the coming years.
  • Rising health consciousness among people is anticipated to the market growth during the forecast period.
  • Growing demand for wearables that integrate all computing requirements in one compact devices is estimated to spur the market growth in the coming years.
  • High cost of wearable medical devices is expected to restraint the market growth.
  • Limited battery life and security concerns is estimated to restrict the market growth.
  • Rising demand for continuous developments in devices has led to new opportunities in the market.

Scope of the Report

The report on the Europe wearable medical devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Wearable Medical Devices Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Device Types (Monitoring Devices [Vital Sign Monitoring Devices, Sleep Monitoring Devices, Electrocardiographs, Fetal and Obstetric Devices, and Neuromonitoring Devices] and Therapeutic Devices [Pain Management Devices, Rehabilitation Devices, Respiratory Therapy Devices, and Others]), Applications (Sports and Fitness, Remote Patient Monitoring, and Home Healthcare), and Product Types (Watches, Wristbands, Ear Wears, and Others)

Geographical Scope

Germany, The UK, France, Italy, Spain, and Rest of Europe

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott Laboratories; Activinsights Ltd; Fitbit, Inc.; Garmin Ltd.; Intelesens Ltd.; Koninklinje Philips NV; Nuubo; Omron Corporation; and Polar Electro Oy

Europe Wearable Medical Devices Market Segment Insights

Rehabilitation devices segment to hold a significant market share

On the basis of device types, the market is divided into monitoring devices and therapeutic devices. The monitoring devices segment is further segmented into vital sign monitoring devices, sleep monitoring devices, electrocardiographs, fetal and obstetric devices, and neuromonitoring devices. The therapeutic devices segment is segregated into pain management devices, rehabilitation devices, respiratory therapy devices, and others. The vital sign monitoring devices segment is anticipated to hold a key share of the market in the coming years. This type of monitoring device prevents misdiagnosis, detect symptom-less medical problems, and encourage to make better decision. However, the rehabilitation devices segment is anticipated to expand at a rapid pace during the forecast period as they can produce repetitive high quality movements and helps restore pre-illness or accident function and mobility.

Home healthcare segment is projected to expand at a considerable CAGR

Based on applications, the market is segregated into sports and fitness, remote patient monitoring, and home healthcare. The remote patient monitoring segment is expected to represent a key share of the market in the upcoming years due to improve ability to manage chronic conditions and increased efficiencies. On the other hand, the home healthcare segment is anticipated to expand at a rapid pace during the forecast period owning to reduced cost of care.

Europe Wearable Medical Devices Market By Applications

Ear wears segment to hold a significant market share

On the basis of product types, the market is divided into watches, wristbands, ear wears, and others. The wristbands segment is anticipated to hold a key share of the market in the coming years due to increased preference for wrist based medical wearables among youth. However, the ear wears segment is anticipated to expand at a rapid pace during the forecast period due to easy insertion and improved ease in listening environments.

The UK is estimated to account a major market share

In terms of regions, the market is classified as Germany, the UK, France, Italy, Spain, and Rest of Europe. Germany is expected to constitute a key share of the market during the projected period due to increased demand for medical devices and innovation along with the availability of the funds for research and development. However, the market in the UK is anticipated expand at a rapid pace during the forecast period owing to increasing demand for fitness and health tracking devices in the country.

Segments

Segments Covered in the Report
The Europe wearable medical devices market has been segmented on the basis of

Device Types
  • Monitoring Devices
    • Vital Sign Monitoring Devices
    • Sleep Monitoring Devices
    • Electrocardiographs
    • Fetal and Obstetric Devices
    • Neuromonitoring Devices
  • Therapeutic Devices
    • Pain Management Devices
    • Rehabilitation Devices
    • Respiratory Therapy Devices
    • Others
Applications
  • Sports and Fitness
  • Remote Patient Monitoring
  • Home Healthcare
Product Types
  • Watches
  • Wristbands
  • Ear Wears
  • Others

Geography

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe
Key Players
  • Abbott Laboratories
  • Activinsights Ltd
  • Fitbit, Inc.
  • Garmin Ltd.
  • Intelesens Ltd.
  • Koninklinje Philips NV
  • Nuubo
  • Omron Corporation
  • Polar Electro Oy

Competitive Landscape

Key players competing in the Europe wearable medical devices market includes Abbott Laboratories; Activinsights Ltd; Fitbit, Inc.; Garmin Ltd.; Intelesens Ltd.; Koninklinje Philips NV; Nuubo; Omron Corporation; and Polar Electro Oy.

Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.

Europe Wearable Medical Devices Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wearable Medical Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Wearable Medical Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wearable Medical Devices Market - Supply Chain
  4.5. Global Wearable Medical Devices Market Forecast
     4.5.1. Wearable Medical Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wearable Medical Devices Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Wearable Medical Devices Market Absolute $ Opportunity
5. Global Wearable Medical Devices Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Wearable Medical Devices Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Wearable Medical Devices Demand Share Forecast, 2019-2026
6. North America Wearable Medical Devices Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Wearable Medical Devices Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Wearable Medical Devices Demand Share Forecast, 2019-2026
7. Latin America Wearable Medical Devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Wearable Medical Devices Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Wearable Medical Devices Demand Share Forecast, 2019-2026
8. Europe Wearable Medical Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Wearable Medical Devices Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Wearable Medical Devices Demand Share Forecast, 2019-2026
9. Asia Pacific Wearable Medical Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Wearable Medical Devices Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Wearable Medical Devices Demand Share Forecast, 2019-2026
10. Middle East & Africa Wearable Medical Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Wearable Medical Devices Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Wearable Medical Devices Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Wearable Medical Devices Market: Market Share Analysis
  11.2. Wearable Medical Devices Distributors and Customers
  11.3. Wearable Medical Devices Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott Laboratories Activinsights Ltd Fitbit, Inc. Garmin Ltd. Intelesens Ltd. Koninklinje Philips NV  
Segments Covered in the Report
The Europe wearable medical devices market has been segmented on the basis of

Device Types
  • Monitoring Devices
    • Vital Sign Monitoring Devices
    • Sleep Monitoring Devices
    • Electrocardiographs
    • Fetal and Obstetric Devices
    • Neuromonitoring Devices
  • Therapeutic Devices
    • Pain Management Devices
    • Rehabilitation Devices
    • Respiratory Therapy Devices
    • Others
Applications
  • Sports and Fitness
  • Remote Patient Monitoring
  • Home Healthcare
Product Types
  • Watches
  • Wristbands
  • Ear Wears
  • Others

Geography

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe
Key Players
  • Abbott Laboratories
  • Activinsights Ltd
  • Fitbit, Inc.
  • Garmin Ltd.
  • Intelesens Ltd.
  • Koninklinje Philips NV
  • Nuubo
  • Omron Corporation
  • Polar Electro Oy

Key players competing in the Europe wearable medical devices market includes Abbott Laboratories; Activinsights Ltd; Fitbit, Inc.; Garmin Ltd.; Intelesens Ltd.; Koninklinje Philips NV; Nuubo; Omron Corporation; and Polar Electro Oy.

Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.

Europe Wearable Medical Devices Market By Key Players

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