Global Health and Wellness Devices Market by Type (Healthcare IT, Health Information Exchange, Healthcare Analytics), By Application (Hospitals, Personalized Health Monitoring Devices, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The Global Health and Wellness Devices Market size is projected to grow from $1.6 billion in 2018 to $2.5 billion by 2028, at a CAGR of 4.9%. The healthcare IT segment will continue to dominate the market with over 40% share, followed by healthcare analytics and personalized health monitoring devices segments which are expected to grow at an accelerated pace during the forecast period owing to a growing focus on preventive care and population management programs globally among governments and private sector organizations.
North America will be the biggest contributor towards growth due to its aging population coupled with the high prevalence of chronic conditions such as diabetes, heart disease, cancer, etc., whereas the Asia Pacific region is expected to witness the fastest growth due to increasing awareness about preventive care practices among people in urban areas.
Health and Wellness Devices are the equipment used in healthcare settings for improving health status. Health and wellness devices include, but not limited to: fitness trackers, blood glucose monitors, therapeutic shoes, or orthotics. These products automate a process such as measuring body fat percentage, tracking steps taken on foot, or monitoring heart rate every day.
On the basis of Type, the market is segmented into Healthcare IT, Health Information Exchange, and Healthcare Analytics. Healthcare IT was dominant with a market share of 65% during 2017. It is estimated that this segment will continue as the leading industry type throughout the forecast period owing to factors such as increased demand for more advanced clinical software solutions and apps for patient monitoring which require expensive hardware investment on part of hospitals.
Healthcare IT:
Healthcare IT (HIT) is a term that encompasses the use of technology in healthcare, to improve quality and reduce costs. For example, Electronic Health Records or EHRs are used by hospitals to collect data about patient's symptoms, diagnoses, treatments, and outcomes across different departments. This information can then be shared with other relevant stakeholders as well as uploaded into an electronic patient record system for easier access by clinicians at all levels.
Health Information Exchange:
Health Information Exchange (HIE) is a concept that facilitates the exchange of electronic health information among healthcare providers, patients, and their caregivers across disparate organizations. The goal is to bring together all stakeholders with relevant data for medical treatment in order to improve the quality of care. HIEs are designed based on three components – interoperability, access, and security.
Healthcare providers can share electronic health records and lab results; patients have access to their medical history, test results, or appointment dates. Security of the data is ensured by encrypting it so that only subscribers with appropriate clearance can see them.
HIEs help in reducing errors due to duplication of tests as well as wait times – not just for people who live far from hospitals but those who do need urgent care too. It also allows physicians to refer patients to specialists more efficiently - which saves time and money on healthcare costs. HIEs are especially beneficial where populations face language barriers, geography hindrances, or cultural differences like different approaches towards treating chronic conditions such as diabetes mellitus type II.
Healthcare Analytics:
Healthcare Analytics is defined as the use of data from electronic medical records (EMR) to analyze patterns and trends in healthcare. EMRs could include information about a patient's demographics, treatments provided by physicians or other health care professionals, medications prescribed, lab test results, and more. Healthcare Analytics is increasingly adopted among hospitals as it can help them understand which interventions are most effective for their patients with various conditions.
On the basis of Application, the market is segmented into Hospitals, Personalized Health Monitoring Devices, and Others. The hospitals' segment accounted for about 50% of the total healthcare IT in 2017 owing to an increase in the adoption of electronic medical records (EMR) software among hospital systems globally. There has been a major push by governments across continents to adopt EMRs as it can help them save time and money spent on claims processing due to its ability to automate billing procedures.
Personalized health monitoring devices include any device that helps monitor your personal data such as weight, blood pressure, etc., at home or with access through mobile applications. Different types of personalized health monitoring devices are being launched every year which include wearables like smartwatches and fitness trackers as well as more innovative technologies such as digital health devices.
On the basis of Region, the market is segmented into North America, Europe, Asia Pacific, and the Middle East & Africa.
In 2017, North America commanded the largest market share in terms of revenue and is expected to retain its dominance through 2028. The rapid adoption and use of health information exchange systems, such as structured data interchange formats (SDIF) have led to an increase in demand for these technologies. Furthermore, advances are being made with regards to predictive analysis technology which has improved efficiency and accuracy when analyzing large volumes of patient data across multiple institutions within a geographic area.
Europe commanded the second largest market share due mainly to their strong pharmaceutical industry base coupled with the top-ranked position amongst major players that manufacture healthcare products in this region. In addition, there was keen interest from manufacturers into entering European markets in the future
Latin American markets are expected to be on an upward trend from 2021-2028, due mainly to its strong economic growth coupled with a high population base and rising awareness of health conditions.
Up Market Research published a new report titled “Health and Wellness Devices Market research report which is segmented by Types (Healthcare IT, Health Information Exchange, Healthcare Analytics), By Applications (Hospitals, Personalized Health Monitoring Devices, Others), By Players/Companies Omron Healthcare, McKesson, Philips Healthcare, GE Healthcare, Draeger Medical Systems, Fitbit, Abbott, Medtronic, Aerotel Medical Systems, Boston Scientific, Body Media, Garmin, Microlife, Masimo, AgaMatrix”.
Report Scope
Report Attributes | Report Details |
Report Title | Health and Wellness Devices Market Research Report |
By Type | Healthcare IT, Health Information Exchange, Healthcare Analytics |
By Application | Hospitals, Personalized Health Monitoring Devices, Others |
By Companies | Omron Healthcare, McKesson, Philips Healthcare, GE Healthcare, Draeger Medical Systems, Fitbit, Abbott, Medtronic, Aerotel Medical Systems, Boston Scientific, Body Media, Garmin, Microlife, Masimo, AgaMatrix |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 235 |
Number of Tables & Figures | 165 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Health and Wellness Devices Market Report Segments:
The market is segmented by Type Healthcare IT, Health Information Exchange, Healthcare Analytics and By Application Hospitals, Personalized Health Monitoring Devices, Others.
Some of the companies that are profiled in this report are:
- Omron Healthcare
- McKesson
- Philips Healthcare
- GE Healthcare
- Draeger Medical Systems
- Fitbit
- Abbott
- Medtronic
- Aerotel Medical Systems
- Boston Scientific
- Body Media
- Garmin
- Microlife
- Masimo
- AgaMatrix
Health and Wellness Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Health and Wellness Devices Market
Overview of the regional outlook of the Health and Wellness Devices Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Health and Wellness Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Health and Wellness Devices Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Healthcare IT
2. Health Information Exchange
3. Healthcare Analytics
7. By Application:1. Hospitals
2. Personalized Health Monitoring Devices
3. Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Health and Wellness Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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Reasons to Purchase the Health and Wellness Devices Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Health and Wellness Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Health and Wellness Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Health and Wellness Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Health and Wellness Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Health and Wellness Devices Market Size & Forecast, 2018-2028
4.5.1 Health and Wellness Devices Market Size and Y-o-Y Growth
4.5.2 Health and Wellness Devices Market Absolute $ Opportunity
Chapter 5 Global Health and Wellness Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Health and Wellness Devices Market Size Forecast by Type
5.2.1 Healthcare IT
5.2.2 Health Information Exchange
5.2.3 Healthcare Analytics
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Health and Wellness Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Health and Wellness Devices Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Personalized Health Monitoring Devices
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Health and Wellness Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Health and Wellness Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Health and Wellness Devices Analysis and Forecast
9.1 Introduction
9.2 North America Health and Wellness Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Health and Wellness Devices Market Size Forecast by Type
9.6.1 Healthcare IT
9.6.2 Health Information Exchange
9.6.3 Healthcare Analytics
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Health and Wellness Devices Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Personalized Health Monitoring Devices
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Health and Wellness Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Health and Wellness Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Health and Wellness Devices Market Size Forecast by Type
10.6.1 Healthcare IT
10.6.2 Health Information Exchange
10.6.3 Healthcare Analytics
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Health and Wellness Devices Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Personalized Health Monitoring Devices
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Health and Wellness Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Health and Wellness Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Health and Wellness Devices Market Size Forecast by Type
11.6.1 Healthcare IT
11.6.2 Health Information Exchange
11.6.3 Healthcare Analytics
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Health and Wellness Devices Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Personalized Health Monitoring Devices
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Health and Wellness Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Health and Wellness Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Health and Wellness Devices Market Size Forecast by Type
12.6.1 Healthcare IT
12.6.2 Health Information Exchange
12.6.3 Healthcare Analytics
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Health and Wellness Devices Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Personalized Health Monitoring Devices
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Health and Wellness Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Health and Wellness Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Health and Wellness Devices Market Size Forecast by Type
13.6.1 Healthcare IT
13.6.2 Health Information Exchange
13.6.3 Healthcare Analytics
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Health and Wellness Devices Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Personalized Health Monitoring Devices
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Health and Wellness Devices Market: Competitive Dashboard
14.2 Global Health and Wellness Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Omron Healthcare
14.3.2 McKesson
14.3.3 Philips Healthcare
14.3.4 GE Healthcare
14.3.5 Draeger Medical Systems
14.3.6 Fitbit
14.3.7 Abbott
14.3.8 Medtronic
14.3.9 Aerotel Medical Systems
14.3.10 Boston Scientific
14.3.11 Body Media
14.3.12 Garmin
14.3.13 Microlife
14.3.14 Masimo
14.3.15 AgaMatrix