North America Wearable Devices Market By Type (Diagnostic, Therapeutic), Product Type (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, Others), Industry (Consumer Products, Healthcare, Industrial, and Others), Application (Sports and Fitness, Remote patient monitoring, Home healthcare), Country (U.S., Canada, Mexico) - Industry Trends and Forecast to 2026
Market Analysis: North America Wearable Devices Market
North America wearable devices market is registering a healthy CAGR of 23.81% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed due to surging number of advancements and rising cases of chronic diseases is contributing to the market growth
Market Definition: North America Wearable Devices Market
Wearable devices are the devices which can be wearable on the wrist by the users that are made of the latest technology and advancements. The advent of AI has brought up various changes and innovations in the wearable devices by introducing the features such as tracking of habits, scheduling and planning, reminding, calling, access to vital information related to the body, etc. These devices are used in the healthcare industry in diagnostic and while giving therapy as well as used in sports. Due to the surging market there is an emergence of various players in wearable device segment.
- The advent of technology and innovations from various market players is driving the market growth
- The rise in the incidences of chronic pain and diabetes patient is boosting the market growth
- The emerging economies and rising per capital income is fueling the market growth
- The medical device are becoming more user friendly and became east to interpret which is driving the market growth
- The cost of devices is high which restraints the market growth
- The various reimbursement issues faced is hampering the market growth
Segmentation: North America Wearable Devices Market
- Wearable Vital Sign Monitors
- Wearable Heart Rate Monitors
- Wearable Activity Monitors
- Wearable Electrocardiographs
- Wearable Fetal Monitors And Obstetric Devices
- Neuromonitoring Devices
- Wearable Vital Sign Monitors
- Glucose/Insulin Monitoring Devices
- Wearable Respiratory Therapy Devices
By Product Type
- Consumer Products
- Sports and Fitness
- Remote patient monitoring
- Home healthcare
Key Developments in the Market:
- In August 2019, Garmin Ltd. had launched Garmin Fenix 6 series in the U.S. market. It has more wide and vivid screens with better battery backup. It has an additional new feature PacePro made for runners to customize and plan their runs and schedule their workouts. This product launch had expanded the customer base of the company and surged its revenue.
- In March 2019, Fitbit Inc., had launched Fitbit Inspire and Inspire HR, and Fitbit Ace 2, a budget-friendly line of wearables for adults and kids. It is packed with many features such as fitness tracker, burned calories monitoring and sleep tracking and comes in various exciting colors. This product launch had expanded the company product portfolio in the U.S. and expanded its market share.
North America wearable devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wearable devices market for U.S., Canada, and Mexico.
Key Market Competitors:
Few of the major market competitors currently working in the North America wearable devices market are Apple Inc., Samsung, Fitbit Inc., Xiaomi, Polar Electro, VUZIX, Kopin Corporation, Everist Health, BioTelemetry Inc., Koninklijke Philips N.V., Sotera Wireless, Inc., Garmin Ltd, adidas AG, Alphabet Inc., Qualcomm Technologies, Inc., Nike, Inc., LG Electronics and Sony Corporation among others.
Research Methodology: North America Wearable Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of North America Wearable Devices Market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)