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Wearable Tech in Medical Devices - Thematic Intelligence

Publisher GlobalData
Published Oct 25, 2023
Length 60 Pages
SKU # GBDT18304343

Description

Wearable Tech in Medical Devices - Thematic Intelligence


Summary

Wearable tech will become a $291 billion industry by 2030

The wearable tech industry was worth $99.5 billion in 2022 and will reach $290.6 billion by 2030, expanding at a compound annual growth rate (CAGR) of 14.3% between 2022 and 2030, according to GlobalData forecasts.

Sales of hearables and smartwatches will drive growth in the market. Integration of artificial intelligence (AI) could usher in a new era of interactive and intelligent wearable devices, offering improved user experiences. The next generation of hearables will be designed for greater comfort, provide longer battery life, and feature immersive spatial audio, health monitoring, and AI-based communication.

The growth of the smartwatch market is driven by consumer interest in health and fitness tracking. With health monitoring features and capabilities advancing beyond just recording activity, smartwatches will continue to challenge the relevance of fitness trackers.

Smart glasses and virtual reality (VR) headsets have been around for some time but have not become mainstream due to a dearth of compelling use cases, high prices, and privacy concerns. Companies that can find a niche and create compelling use cases will have the best chance of succeeding.

The medical industry is key for wearable tech

Medical will be a key market for wearable tech devices over the next three years. Wearable tech devices are currently deployed across logistics, defense, manufacturing, travel and tourism, and healthcare, primarily for training and remote support. Healthcare, particularly patient monitoring, remote training and support, and telehealth services, holds significant promise. Creating devices that can be used for longer, are lightweight, and have practical use cases will help companies generate demand and revenue.

Scope
  • This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.
  • The report covers the wearable tech theme.
Reasons to Buy
  • GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
  • Develop and design your corporate strategies through an in-house expert analysis of wearable tech by understanding the primary ways in which this theme is impacting the healthcare industry.
  • Stay up to date on the industry’s major players and where they sit in the value chain.
  • Identify emerging industry trends to gain a competitive advantage.

Table of Contents

60 Pages
Executive Summary
Players
Technology Briefing
Input
Internal data input components
External data input components
Output
Displays
Speakers
Platform technologies
OSs
APIs
Power sources
Trends
Technology trends
Macroeconomic trends
Regulatory trends
Industry Analysis
Market size and growth forecasts
Hearables will remain the largest wearables segment from 2019 through 2030
Use cases in healthcare
Timeline
Signals
M&A trends
Patent trends
Hiring trends
Social media trends
Value Chain
Physical layer
Smartwatches
Fitness trackers
Hearables
Smart glasses
VR headsets
AR headsets
Smart clothing
Connectivity layer
Data layer
App layer
Apps
Platforms
Services layer
Integration services
Consulting services
Companies
Sector Scorecard
Medical devices sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Technology trends
Table 2: Macroeconomic trends
Table 3: Regulatory trends
Table 4: M&A trends
Table 5: Companies
Table 6: Glossary
Table 7: GlobalData reports
List of Figures
Figure 1: Who are the leading players in the wearable tech theme, and where do they sit in the value chain?
Figure 2: Wearable devices are classified into these seven categories
Figure 3: Critical components of wearable tech devices
Figure 4: The wearable tech market will be worth $290.6 billion by 2030
Figure 5: Hearables will continue to be the leading revenue contributor between 2019 and 2030
Figure 6: Wearables in healthcare
Figure 7: Diabetes can be monitored on-the-go & Data collected from devices can be sent to clinics or hospitals wirelessly
Figure 8: The wearable tech story
Figure 9: Internet of Things medical devices-related patent activity dipped in 2022
Figure 10: The US and China dominate wearable tech patent publications
Figure 11: The number of IoT job postings in medical devices is decreasing in 2023
Figure 12: ResMed is actively hiring in the IoT medical space
Figure 13: Total social media posts continued to increase between 2019 and 2022
Figure 14: The US, India, and the UK are top locations by mentions
Figure 15: The IoT value chain
Figure 16: Wearable tech value chain - Smartwatches: leaders and challengers
Figure 17: Wearable tech value chain - Fitness trackers: leaders and challengers
Figure 18: Wearable tech value chain - Hearables: leaders and challengers
Figure 19: Wearable tech value chain - Smart glasses: leaders and challengers
Figure 20: Wearable tech value chain - VR headsets: leaders and challengers
Figure 21: Wearable tech value chain - AR headsets: leaders and challengers
Figure 22: Wearable tech value chain - Smart clothing: leaders and challengers
Figure 23: Wearable tech value chain - App layer: leaders and challengers
Figure 24: Who does what in the medical devices space?
Figure 25: Thematic screen
Figure 26: Valuation screen
Figure 27: Risk screen
Figure 28: Our five-step approach for generating a sector scorecard

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