Stratview Research has launched a new report, titled Health and Wellness Devices Market, By Type (Healthcare IT, Health information exchange, Healthcare analytics), By Product (Personal medical devices, Wellness products, Software & Services), By End User (Hospitals, Individual Customers, Others) and Region
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
is estimated to grow from USD 394.2 billion in 2020 to USD 1351.0 billion by 2026 at a healthy CAGR of 23.3% during the forecast period.
Market Segments' Analysis
Based on end-users, the market has been classified into hospitals, individual customers, and others. The hospitals' segment accounted for a substantial market share in 2020. The growing adoption rate of EHR records as well as remote patient monitoring systems for effective management of chronic diseases and improved operational efficiency. Whereas, the rising interest of the consumers in personalized health monitoring devices is anticipated to boost the individual customers' segment within the coming years, which further bolsters the segment growth.
The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the strong presence of well-developed healthcare infrastructure, widespread coverage of the internet, and increasing awareness levels along with the supportive regulations formulated for improved patient safety. Moreover, the presence of favorable reimbursement policies and a large population using wearable medical devices further proliferates regional growth.
The following are the key players in the Health and Wellness Devices Market.
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