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Wireless Health and Fitness Devices Market

Wireless Health and Fitness Devices Market

Wireless Health and Fitness Devices Market Analysis By Product (Sports & Fitness, Remote Health Monitoring & Professional Healthcare) By Application (Monitoring & Diagnosis) and By Region – Global Market Insights 2022 to 2026

Wireless Health and Fitness Devices Market
FACT7617MR
  • Aug-2022
  • List of Tables : 25
  • List of Figures : 132
  • 170 Pages
  • Healthcare

Wireless Health and Fitness Devices Market Outlook (2022-2026)

The global wireless health and fitness devices market currently accounts for a valuation of US$ 370 million and is expected to reach US$ 580 million by the end of 2026. Worldwide demand for wireless health and fitness devices is predicted to increase at a high-value CAGR of 12% from 2022 to 2026.

Sales of sports & fitness devices are projected to rise at a CAGR of 11% over the next four years. Growing awareness among professional athletes about regular fitness tracking is driving demand for wireless activity tracker devices across regions. 

Report Attributes

Details

Wireless Health and Fitness Devices Market Size (2022)

US$ 370 Million

Projected Market Value (2026)

US$ 580 Million

Global Market Growth Rate (2022-2026)

12% CAGR

Market Share of Sports & Fitness Devices

60%

Key Companies Profiled

  • Withings SA
  • Misfit Inc.
  • Nuubo
  • Omron Healthcare Co., Ltd.
  • Alive Technologies Pty. Ltd.
  • Apple Inc.
  • ASUSTeK Computer Inc.
  • Beurer GmbH
  • Fitbit Inc.
  • Garmin Ltd.
  • GE Healthcare
  • Google Inc.
  • iHealth Labs Inc.
  • LG Electronics
  • LifeWatch AG

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Sales Analysis of Wireless Health and Fitness Devices (2017-2021) Vs. Market Outlook (2022-2026)

“Growing Prevalence of Chronic Diseases & Rising Need for Constant Monitoring”

The term 'wireless health and fitness device' describes specialized medical equipment that continuously tracks and reports the wearer's health to a distant storage device. They also show the wearer their vital signs. To diagnose, monitor, and treat the wearer's health, the gadgets are connected to numerous storage infrastructures and sensors.

The market trends for wireless portable medical devices have improved as a result of the fast mechanical headways moving sensors. The growing prevalence of several lifestyle diseases such as diabetes, which necessitate constant monitoring, is a major factor driving the global connected health and wellness devices market.

Patients in rural places now have access to considerably more sophisticated and reliable patient monitoring due to wireless health and fitness devices. Patients can effortlessly communicate their medical records to the appropriate doctors at any time, from any location, and at any time. The market will expand as a result of the use of wireless health and fitness devices for numerous applications, including blood glucose meters and mobile cardiac outpatient telemetry.

The wireless devices industry is also being driven forward by an increasing way of life, a rise in the risk of lifestyle diseases, and an increase in the general awareness of health issues.

According to Fact.MR, a market research and competitive intelligence provider, sales of wireless health and fitness devices are projected to increase at a CAGR of 12% from 2022 to 2026.

Wireless health and fitness devices market forecast by Fact.MR

Why is Wireless Health and Fitness Device Usage Increasing Rapidly?

“Constant Advancements in Motion Sensors to Improve Performance of Wireless Devices”

Constant advancements in motion sensors to improve the performance of wireless and wearable devices are driving market growth. The penetration of the Internet, the use of IT in healthcare, and the number of regional eHealth projects are all important contributors to this expansion.

The market is being driven by the widespread use of the internet and wireless communication equipment. In a networked hospital, staff members are not distracted by time-consuming administrative activities but instead employ wireless medical technology to give patients the highest quality care possible. The ease with which doctors and nurses can access current patient data allows them to make treatment decisions that are supported by current medical data, improving patient outcomes.

Medical equipment and diagnostic centers are exploring body-worn sensors that can measure health status and send data in real-time to an internet platform that can be accessed from a distance due to the popularity of wearable gadgets and the availability of smartphones.

An increase in the use of workout equipment and recent innovations in fitness devices are driving market growth. Because of the availability of technologically advanced products and their usage in health monitoring, sales of portable fitness equipment are increasing rapidly. They are increasingly utilized to enhance workout performance since they can track all kinds of bodily motions.

An Adaptive Approach to Modern-day Research Needs

Which Roadblocks are Faced by Wireless Health and Fitness Device Suppliers?

“Inadequate Reimbursement Policies & High Cost of Devices”

The main obstacle to the expansion of the wireless health monitoring market is high costs. Lack of uniform compensation limits market expansion. Range, accuracy, precision, resolution, and repeatability all increase wireless health monitoring costs. Costs for hardware, software, and services are included, and they largely depend on how complex the structures are and how much they cost to build.

Highly efficient instrumentation methods are needed for extremely complex structures, which raises the overall cost. Thus, the expensive cost of wireless health monitoring is limiting market expansion.

The wireless health and fitness devices market is anticipated to face challenges during the forecast period due to the inadequate reimbursement policies governing the implementation and usage of these devices.

What Should New Wireless Health and Fitness Device Manufacturers be Focusing On?

“New Market Players Focused on Introduction of Innovative Products”

Wearable technology is a source of many innovative concepts and products. Emerging companies are creating technology-driven solutions and are constantly introducing fascinating new advancements in wearables.

  • Silvertree, a start-up based in Massachusetts, offers appealing wearables with advanced features such as GPS tracking, 'fall detection' that warns a chosen safety team, and a month-long battery, especially beneficial for elderly people.

Which Region Dominates the Global Wireless Health and Fitness Devices Market?

“High Awareness about Importance of Health Education in North America”

North America holds the highest share in the wireless health and fitness devices market attributed to the rising incidence of diabetes and other chronic diseases as well as the increased awareness among people about the importance of health education.

The aspects propelling the market expansion are the presence of top wearable device manufacturers, increasing adoption of wireless ECG machines & Bluetooth medical devices and rising interest among producers in creative work exercises to improve advanced products.

Country-wise Insights

Why is the U.S. Wireless Health and Fitness Devices Market Highly Lucrative?

“Rising Investments in R&D Efforts for Creation of Wireless Portable Medical Products in the U.S.”

The significant support by the government to lower the burden of healthcare costs, recent advances in healthcare IoT solutions, and growing usage of wireless ultrasound scanners are fueling the wireless health and fitness devices market expansion in the United States.

Expanding mindfulness about wellbeing training and high investments in R&D efforts for the creation of wireless portable medical products are also anticipated to fuel market expansion in the U.S.

How is China Contributing to the Sales of Wireless Health and Fitness Devices?

“Increasing Popularity of Tracking Devices among Younger in China”

The wireless health and fitness devices market in China is anticipated to rise at a CAGR of 14% from 2022 to 2026.

Due to the growing popularity of tracking devices among the younger generation, the highest percentage of smartphone users, and greater internet penetration, the market in China is anticipated to experience strong growth.

The massive obese population in China and rising medical care consumption are the factors driving the growth of the wireless health and fitness gadget market. The main drivers of the market in China are an increase in cardiovascular illnesses, a large increase in obesity-related awareness, and an increase in healthcare spending.

Category-wise Insights

Which Product is Expected to Hold a Dominant Market Share?

“Growing Usage of Sports & Fitness Devices for Maintaining Health & Safety”

Based on the product, the wireless health and fitness devices market is segmented into sports & fitness, remote health monitoring, and professional healthcare. Sports & fitness devices account for over 60% share of the global market. To maintain their health and safety, consumers are increasingly choosing wearable wireless sports, fitness, and wellness devices.

Wireless fitness tracking devices assist users in gathering and assessing data based on the user's physical state and performance, which has helped wearable fitness gadgets catch the attention of consumers and enthusiasts. As smart sports fitness trackers support users in achieving their own goals, such as obtaining enough sleep and keeping a healthy weight, consumers are embracing them at an increasing rate.

Which Application Accounts for High Revenue Generation?

“Rapid Integration of Advanced Technologies for Efficient Monitoring”

Based on application, the wireless health and fitness devices market is divided into monitoring and diagnosis. The use of wireless health and fitness devices in monitoring applications is expected to rise at a significant CAGR over the forecast period.

The use of wireless health monitoring devices has become more popular due to the growing trend of 4G and 5G technologies. So that doctors, nurses, or a person can control the monitoring remotely, the enhanced network has increased the market for wireless health monitoring devices. Additionally, regulatory organizations have authorized many devices to track health and fitness in a variety of settings, including hospitals and sports facilities.

Wireless sensing units combine mobile computers, wireless networking, and sensors to produce a sensor platform that is reasonably priced. The ability for sensors to self-interrogate measurement data is made possible by the integration of computing with a wireless sensing unit, and this is what fuels market expansion. However, patient health monitoring is expected to expand quickly, propelled by tools such as blood glucose monitors and mobile cardiac outpatient telemetry.

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Competitive Landscape

Key companies are attempting to increase their market share by developing new platforms, enhancing current solutions and software platforms, and forming strategic agreements with other market participants.

For instance :

  • The next-generation platform, NK-HIQ enterprise gateway, was introduced by Nihan Kohden. It incorporates information from patient monitoring devices and unifies several apps into an effective system.

Wireless Health and Fitness Devices Industry Research Segments

  • By Product :

    • Sports & Fitness
    • Remote Health Monitoring
    • Professional Healthcare
  • By Application :

    • Monitoring
    • Diagnosis
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global wireless health and fitness devices market is valued at US$ 370 million.
Sales of wireless health and fitness devices are set to increase at 12% CAGR from 2022 to 2026.
The market in Canada is set to rise at a CAGR of 11.5% through 2026.
The market for wireless health and fitness devices is predicted to reach US$ 580 million by 2026.
Withings SA, Misfit Inc., and Nuubo are major wireless health and fitness device manufacturers.
Sports & fitness devices account for 60% share of the global market.

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