Dublin, July 13, 2021 (GLOBE NEWSWIRE) – The “Wireless Health and Fitness Devices – Global Market History and Analysis” Report was added to ResearchAndMarkets.com to offer.
Amid the COVID-19 crisis, the global wireless health and fitness device market, estimated at 280 million units in 2020, is expected to reach a revised size of 573.7 million units by 2026 and a CAGR of 12.1 % versus the analysis grow period.
Sports & Fitness, one of the segments analyzed in the report, is expected to post a CAGR of 11.2% and reach 361.4 million units by the end of the analysis period. After a thorough analysis of the business impact of the pandemic and the economic crisis caused, the growth in the Remote Health Monitoring segment will be adjusted to a revised CAGR of 12.8% for the next 7-year period.
Global Wireless Health And Fitness Devices Market Will Reach 573.7 Million Units by 2026
In times of COVID-19, there is a significant focus on health and fitness. Exercise is one of the indispensable components of the holistic approach to a healthy and high quality life. Physical activity combined with a balanced diet is a perfect recipe for stimulating and strengthening the immune system, which protects the host from disease and infection.
The pandemic is profoundly affecting the everyday lives of consumers around the world. Social, financial, physical, emotional and environmental problems are high on the list of priorities for consumers. Given that stress can weaken the immune system and affect overall health and wellbeing, consumers are starting to devote additional time, money, and resources to lifestyle changes, fitness routines, and eating habits to cope with the pandemic.
Professional Healthcare segment will reach 68.3 million units by 2026
In the global Professional Healthcare segment, the United States, Canada, Japan, China, and Europe will drive the CAGR estimated for this segment of 15.7%. These regional markets, with a combined market size of 23.6 million units in 2020, will reach a projected size of 65.4 million units by the end of the analysis period. China will be one of the fastest growing in this cluster of regional markets. Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach 5.1 million units by 2026, while Latin America is expected to grow at a CAGR of 16.5% over the analysis period.
The US market is estimated at 136.4 million units in 2021, while China is expected to reach 59.9 million units by 2026
The U.S. wireless health and fitness device market is estimated at 136.4 million units in 2021. China, the second largest economy in the world, is expected to reach a market size of 59.9 million units by 2026, which is a CAGR. follows of 14.5% over the analysis period. Other notable geographic markets include Japan and Canada, which are projected to grow 9.8% and 11.8% respectively over the 2020-2027 period. A growth of approx. 11.2% CAGR is forecast for Germany within Europe.
Consumers are increasingly choosing wearable wireless sports, fitness and wellness devices to keep themselves healthy and safe. With increasing health awareness, focusing on an active lifestyle, the alarming rise in obesity and related problems, and the increasing health risks of a sedentary lifestyle, there is an increasing emphasis on staying healthy and fit.
Increasing purchasing power in developing countries, large-scale modernizations and sophisticated and inexpensive wireless health technologies are thus driving the growth of the market. As a result, sports, activity and fitness monitoring technologies are emerging as a promising segment of the overall consumer electronics market.
Driven by the quantified self trend, wearable exercise and fitness devices continue to attract the attention of consumers and enthusiasts as wearable fitness devices help users collect and measure data based on the user’s physical condition and performance.
Key topics covered:
1. MARKET OVERVIEW
- COVID-19 is catalyzing consumer engagement with health and health technologies
- The wireless health and fitness device market is escaping the ravages of the economic recession caused by the virus
- A comprehensive overview of the state of the ailing global economy
- Unemployment at an all-time high is destroying a multitude of industries that depend on freely disposable income
- Budgeting for Health! Health spending is no longer a discretionary choice. COVID-19 underscores the importance of immunity in today’s world
- An important part of this home fitness trend is active lifestyle self-management, which is where wearables play an important role
- Wireless Health and Fitness Devices: Scope and Definition
- Current market activity
2. FOCUS ON SELECTED PLAYERS(A total of 118 recommended)
- 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 Armor, Inc.
- Vital Connect, Inc.
- Winmedical Srl
- Xiaomi Inc.
3. MARKET TRENDS & DRIVERS
- COVID-19 accelerates the digital transformation of healthcare
- Ready for the disturbance! Health and fitness wearables benefit from digital technologies
- Market Outlook: A Summary
- Hospitals are awakening to the benefits of wireless health devices
- Rising healthcare costs are driving the focus on wearables to lower healthcare costs
- Healthcare stocks are a burning global issue. Wireless health and fitness devices are coming to the fore because of their ability to democratize healthcare
- As smart homes evolve into portals for healthcare, home health hubs are evolving into an important growth engine
- The integration of wearables in telemedicine is exploding into an important trend
- COVID-19 Pandemic Accelerates Telemedicine Adoption
- Role of wearables in telemedicine
- The role of AI in wearables is growing
- The increasing incidence of chronic diseases that require health risk assessment and continuous monitoring is fueling market growth
- Increasing exposure to cardiovascular disease is driving demand for wireless devices for CVD management
- The global epidemic prevalence of diabetes opens up opportunities for wireless blood glucose monitoring devices
- COVID-19 sharpens the focus on self-regulation of blood sugar (SMBG)
- Rising global hypertension prevalence opens up opportunities for wireless blood pressure monitoring devices
- The rapidly aging world population and COVID-19 induced a renewed focus on local aging to increase the demand for remote patient monitoring
- Wearables are emerging as a major enabler of remote health monitoring
- The growing popularity of PERS. arises from the growing trend towards aging locally
- Smartwatches: the flagship of fitness wearables
- Rising obesity levels underscore great potential for pedometers and heart rate monitors
- Wellness is becoming a bigger priority for businesses in times of pandemic, and wireless devices for corporate wellness programs offer tremendous growth opportunities
- With the rapid introduction of wearables, the big question arises as to how to deal with “Big Data of Wearables”
- Bluetooth: An important technology for wireless wearable devices
- Battery power is critical to wearable technology and an important area that has been identified for innovation and R&D
- Privacy and data issues continue to weigh on the market
4. PERSPECTIVE OF THE GLOBAL MARKET
III. MARKET ANALYSIS
- Total number of companies featured: 118
For more information on this report, see https://www.researchandmarkets.com/r/6jg6k5