WHAT WE DO
There are several markets that comprise consumer medical and wellness, such as off-the-shelf medical devices, independent living and emergency alert services, fitness monitoring and mobile apps, corporate wellness programs, and telehealth—as virtual care extends the reach of healthcare providers into the home, telehealth services (remote patient monitoring and telemedicine) have been captured within this analysis. Considering the rapid uptake of virtual care due to the pandemic, and the strong interest in self-monitoring devices such as the smart watch, the total value of these combined markets is expected to reach $180 billion in the near-term.Â
This report covers the global markets for consumer medical and wellness and includes details on specific equipment sales as well as associated accessories, consumables, and services. For services, mobile apps, corporate wellness programs, and telehealth are evaluated in terms of overall market value in addition to revenue derived by third party vendors. This report also features regional analysis as well as country-level analysis for key markets.
Note: Blood Glucose Meters are included in Diabetes Management
THE PROBLEM
The markets for consumer medical and wellness were positively impacted by the pandemic due to the rapid increase of virtual care and interest in self-monitoring. However, the markets are highly competitive and only eight companies have a share of revenue above two percent, with Apple in the top spot. Apple creates an opportunity for service providers but represents new competition for traditional monitoring vendors. This presents a challenge in identifying new opportunities for many vendors—particularly without up-to-date information on the competitive environment.
BENEFITS
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Identify which product markets hold the most opportunity.
Gain insight into competitive positioning.
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