Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) — The “Germany Wearable Medical Devices Market Size, Share & Trends Analysis Report by Product (Diagnostic, Therapeutic), Site (Handheld, Strap/Clip/Bracelet), Application, Grade Type, Distribution Channel, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Germany wearable medical devices market size is anticipated to reach USD 10.90 billion by 2030, growing at a CAGR of 26.2% during the forecast period. The increasing prevalence of lifestyle diseases such as obesity, diabetes, and hypertension has resulted in a surge in the use of wearable medical devices for condition monitoring.
Various development initiatives taken by companies focusing on dealing with lifestyle disorders are propelling market growth. For instance, in August 2023, Henkel developed a modified molding process commonly utilized in industrial electronics to generate a wider variety of medical wearables. Medical wearables, including glucose monitors, smart eyeglasses, and smart patches, are becoming increasingly prevalent as medical facilities seek to reduce the costs of in-house monitoring and offer more convenient in-house or mobile patient monitoring. Henkel’s innovative molding technology decreases manufacturing expenses, especially for higher-volume applications.
Developed countries are progressively implementing remote patient monitoring devices to reduce patient stress in various healthcare settings. Remote patient monitoring devices help all types of specialists to operate their jobs more efficiently by facilitating communication between providers and patients. The growing demand for advanced smartwatches among the young population in developed nations is further propelling the growth of the wearable medical device market.
In addition, the advent of 5G and developments in Al technology is making it easier to make smart glasses, which is likely to introduce a brand-new wearable with a distinct purpose to the market. Ecosystem benefits are expected to gradually become necessary for firms to retain customers as more and more Germans acquire a range of wearables and new companies enter the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $2.13 Billion |
| Forecasted Market Value (USD) by 2030 | $10.9 Billion |
| Compound Annual Growth Rate | 26.2% |
| Regions Covered | Germany |
Germany Wearable Medical Devices Market Report Highlights
- Diagnostic devices dominated the technology segment with more than 62.1% share in 2023, owing to growing prevalence of cardiovascular disorders in Germany
- The therapeutic devices segment is expected to grow at the fastest CAGR over the forecast period
- The strap, clip, bracelet site segment held the largest market share of 51.1% in 2023. The segment is also anticipated to witness the fastest growth from 2024 to 2030, owing to the growing awareness and emphasis on personal health and well-being among consumers in Germany.
- Home healthcare dominated the technology segment with more than 53.8% share in 2023, owing to the aging population, and the growing necessity to reduce healthcare spending
- The remote patient monitoring segment is expected to register the fastest CAGR over the forecast period, owing to the growing rates of chronic illnesses in Germany
- Consumer-grade dominated the grade type segment in 2023, owing to the easily accessible and user-friendly application offerings
- The clinical-grade wearable medical devices segment is estimated to register the fastest CAGR from 2024 to 2030, due to the growing need in healthcare settings for advanced monitoring technologies
- Pharmacies dominated the distribution channel segment in 2023. The segment’s growth is driven by high contribution in providing consumers with modest way to purchase these devices.
- The online channel segment is expected to witness the fastest CAGR over the forecast period, owing to the growing consumers’ preference for acquiring goods online
- In May 2023, Medtronic, a leading healthcare technology manufacturer declared that it has acquired EOFLOW Co. Ltd., the EOPatch device manufacturer. The acquisition is aimed to expand Medtronic’s efficiency to offer more individuals suffering from diabetes, regardless of their preferred method of insulin delivery or where they are in the course of their treatment.
Competitive Landscape
- Koninklijke Philips N.V.
- Omron Corporation
- Everist Health
- Polar Electro
- Covidien (Medtronic)
- Intelesens Ltd
- Withings
- Fitbit Inc.
- Garmin
- Vital Connect
For more information about this report visit https://www.researchandmarkets.com/r/qe5dsk
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- German Wearable Medical Devices Market
