Growing Diabetes Prevalence to Provide Major Impetus to Wireless Health and Fitness Devices Market
Wireless health and fitness devices market research report, by type (mobile, watch, USB, bluetooth, sensors and others), by products (wireless sports & fitness devices, wireless remote health monitoring devices, wireless professional healthcare devices), by application (monitoring and diagnosis), end users (hospitals, sports and fitness institute) - global forecast till 2027
The global wireless health and fitness devices market is expected to exhibit a strong 12.5% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global wireless health and fitness devices market is mainly driven by the growing prevalence of 5G technology, allowing for more detailed and unique applications of wireless health and fitness devices, and the growing awareness among consumers about the technological platform behind wireless health and fitness devices. The global wireless health and fitness devices market is examined in detail in the report in order to provide readers with a comprehensive outlook on the market’s likely growth trajectory over the forecast period. Major drivers and restraints affecting the global wireless health and fitness devices market are also studied in detail in the report.
Wireless health and fitness devices are a product of the 21st century, with advances in telecommunications technology allowing for successful miniaturization of health trackers. This has been a major trend in the healthcare sector over the last few years, with miniaturized health and fitness trackers providing successful cover against a number of diseases and becoming a hit with patients and doctors alike. Advances in the process to develop smaller microprocessors and integrate them into wearables and other on-body installations have allowed for the development of a slew of wireless health and fitness devices in the last few years. Tracking an individual’s health performance on various parameters has never been easier, with development in 5G telecommunications technology and advances in microprocessor miniaturization allowing for smooth development of a strong product catalog in the wireless health and fitness devices market.
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The growing prevalence of diabetes is likely to be a key driver for the global wireless health and fitness devices market over the forecast period, with blood sugar monitors being among the most common health and fitness devices to receive wireless capabilities. Allowing monitors such as blood glucose monitors to connect with a mobile app has also been a revolutionary step for the wireless health and fitness devices market, as consumers can now receive the data in a familiar environment. This also makes miniaturization of health and fitness devices easier, as the display requirements of the device are shifted to smartphones, allowing the medical device to be smaller than ever.
Competitive Analysis:
Major players in the global wireless health and fitness devices market include Garmin Ltd., Freescale Semiconductor Inc., Intelesens Ltd., ON Semiconductor Corporation, Texas Instruments, Apple Inc., Nike Inc., Medtronic Inc., Omron Healthcare, Philips Healthcare, Renesas Electronics Corporation, Analog Devices, Ideal Life Inc., Adidas AG, Entra Health Systems LLC, Maxim Integrated, GE Healthcare, Beuer GmbH, Abbott Laboratories, and Fitbit.
In 2019, the British government’s Agricultural Engineering Precision Innovation Centre started a new program of tagging cows on a farm with wireless collars and monitoring their health and fitness activity remotely through an app. The growing scope for wireless health and fitness devices in the animal products industry is likely to be a key driver for the global wireless health and fitness devices market over the forecast period.
Segmentation:
The global wireless health and fitness devices market is segmented on the basis of type, product, application, end use, and region.
By type, the global wireless health and fitness devices market is segmented into mobile, watch, USB, Bluetooth, sensors, and others.
By product, the market is segmented into wireless sports and fitness devices, wireless remote health monitoring devices, and wireless professional healthcare devices.
By application, the global wireless health and fitness devices market is segmented into monitoring and diagnosis.
By end use, the global wireless health and fitness devices market is segmented into hospitals, sports and fitness institutes, and others.
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Regional Analysis:
Americas holds the largest share in the global wireless health and fitness devices market due to the growing prevalence of diabetes in North America and the consequent increase in the demand for wireless blood glucose monitors. This is likely to remain the key driver for the global wireless health and fitness devices market over the forecast period.
Asia Pacific is also likely to play a key role in the growth of the global wireless health and fitness devices market over the forecast period due to the increasing prevalence of diabetes in the region and the increasing awareness about fitness trackers among consumers.
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