Global smart wellness market is expected to reach USD 520.29 billion by 2023 and grow at a CAGR of approximately 24.46% during the forecast period 2017-2023.
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Smart Wellness Market Highlights:
Smart wellness application is meant to help users to analyze their fitness activities and understand their efforts to burn fat and stay fit. The new research report about the global smart wellness market published by Market Research Future (MRFR) observes boost for this market at 24.46% CAGR between 2017 and 2023. By value, the market can be worth USD 520.29 bn by the end of the forecast period.
A major market driver for the global Smart Wellness Market growth is increasing adoption of smartphones with integrated smart wellness applications. Other market drivers include growing urbanization, growing awareness about health monitoring, population boom, and surging demand for portable healthcare devices. The increasing adoption of smartphones also boosts the market by allowing easy access to fitness and wellness apps via app stores.
Major Key Players:
Major players in the global smart wellness market include Apple Inc. (USA), Draeger Medical Systems Inc. (Germany), Fitbit Inc. (USA), GE Healthcare Inc. (USA), McKesson Corporation (USA), Medtronic PLC (USA), Omron Healthcare Inc. (Japan), Philips Healthcare Company (the Netherlands), Samsung Electronics (South Korea), and St. Jude Medical Inc. (USA).
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Smart Wellness Market Segmentation:
The global smart wellness market segmentation covers component, connectivity, end-user, and type. MRFR’s intention is to take a close look at features of these segments to understand market trends.
According to component-based segmentation, this market covers hardware, software, and services. The hardware segment has been sub-segmented into personal medical devices and wellness products. The personal medical devices sub-segment has been further segmented into blood pressure (BP) monitor, body analyzer, diabetes monitor, insulin pump, personal electrocardiography (ECG), personal pulse oximeters, portable global positioning system (GPS) personal emergency systems (PERS), smart pill dispenser, and others. The wellness products sub-segment has been further segmented into GPS sports watch, sleep quality monitor, and others.
The software segment has been sub-segmented into online subscriptions, smart wellness apps, and others. The services segment has been sub-segmented into managed services and professional services. During the forecast period, hardware, the largest sub-segment is expected to grow with 24.82% CAGR.
Regarding connectivity, the market has been segmented into Bluetooth, Wi-Fi, and others. Holding the larger market share, Bluetooth sub-segment is expected to grow at 24.83% CAGR during the forecast period.
In the context of end-users, the market has been segmented into hospital, individual user, and others. During the forecast period, the individual user sub-segment is expected to hold the largest share and grow at 25.08% CAGR.
By type, the market has been segmented into healthcare analytics, health information exchange, and healthcare information technology (IT). During the forecast period, healthcare IT sub-segment is expected to lead the market, growing at 23.75% CAGR.
Smart Wellness Market Regional Study:
The regional segmentation of the global smart wellness market covers North America, Europe, Asia Pacific, and rest of the world (RoW).
North America has been anticipated to stand as the largest regional market during the forecast period due to technological advancements, availability of various innovative solutions, and increased adoption of smart wellness devices across various end-users in USA and Canada. Mexico is the third crucial country-specific market in this region. Many important market players are based in this region, and most people in North America are very health-conscious.
During the forecast period, the Asia Pacific market can rise as the fastest growing regional market due to rising internet connectivity, growing awareness among people regarding health, and fascination with fitness gadgets. Due to rising technological advancement, China, India, and Japan have become the most important country-specific markets in this region.
In Europe, the market can grow due to reasons that are similar with North America. In this region, the maximum revenue comes from France, Germany, and the UK.
The RoW segment covers Latin America and the Middle East & Africa (MEA). In Latin America, the market is small due to the limited availability of technology. In the MEA region, the market growth is low due to lack of awareness and technological restraints needed to develop applications.
Latest Industry News:
• Lenovo has released a new Smart Band Cardio 2 fitness tracker in India. It features heart rate Monitor and 20-day battery life. 4 JUL 2019
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continued…
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List of Table
Table 1 Global Smart Wellness Market, By Component, 2017-2023 (Usd Billion)
Table 2 Global Smart Wellness Market, By Hardware, 2017-2023 (Usd Billion)
Table 3 Global Smart Wellness Market, By Personal Medical Devices, 2017-2023 (Usd Billion)
Table 4 Global Smart Wellness Market, By Wellness Products, 2017-2023 (Usd Billion)
Table 5 Global Smart Wellness Market, By Software, 2017-2023 (Usd Billion)
Table 6 Global Smart Wellness Market, By Service, 2017-2023 (Usd Billion)
Continued…
List of Figure
Figure 1 Top Down & Bottom Up Approach
Figure 2 Forecast Model
Figure 3 Dro Of Global Smart Wellness Market
Figure 4 Supply Chain Analysis
Figure 5 Porter’s Five Forces Analysis of Global Smart Wellness Market
Continued…
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Source: MarketersMedia
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