NEW YORK, June 26, 2017 /PRNewswire/ -- Highlights
· The global market for selected health self-monitoringtechnologies reached nearly $16.7 billion in 2016. This market should grow at
· a compound annual growth rate (CAGR) of 28.3% from $20.7 billion in 2017 to reach $71.9
· Peripherals as a segment should reach $20.3 billion in 2017 and $70.9 billion by 2022, at a CAGR of 28.4% for the period 2017-2022.
· Software applications as a segment should reach $373 million in 2017 and $1.0 billion by 2022, at a CAGR of 22.0% for the period 2017-2022.
· Self-monitoring is a new trend in personal health where individuals use electronic devices and software technologies to collect, process and display a wide range of personal data to help them monitor and manage their personal health.
· The growing use of self-tracking, facilitated by recent advances in technology, heralds "the biggest shake-up in the history of medicine," according to Eric Topol, a prominent physician who has studied the uses of wireless technology to treat chronic disease.
· The goal of this report is to examine market opportunities for health self-monitoring products and technologies that are now on the market or that are likely to enter the market over the rest of the decade.
· Analyze the major drivers and constraints that will influence the future development of the self- monitoring market.
- The global market for selected health self-monitoring technologies reached nearly $16.7 billion in 2016. This market should grow at a compound annual growth rate (CAGR) of 28.3% from $20.7 billion in 2017 to reach $71.9 billion by 2022. - Peripherals as a segment should reach $20.3 billion in 2017 and $70.9 billion by 2022, at a CAGR of 28.4% for the period 2017-2022. - Software applications as a segment should reach $373 million in 2017 and $1.0 billion by 2022, at a CAGR of 22.0% for the period 2017-2022. Introduction Self-monitoring is a new trend in personal health where individuals use electronic devices and software technologies to collect, process and display a wide range of personal data to help them monitor and manage their personal health. The current, relatively early generation of self-monitoring tools enables the user to monitor and record details of his or her everyday activity, from counting steps or miles walked and floors climbed, to monitoring calorie consumption, as well daily patterns and hours of sleep. Future developments will expand the range of physiological variables that can be self-monitored and enhance the usefulness of the data thus collected. The growing use of self-tracking, facilitated by recent advances in technology, heralds "the biggest shake-up in the history of medicine," according to Eric Topol, a prominent physician who has studied the uses of wireless technology to treat chronic disease. Study Goals and Objectives The goal of this report is to examine market opportunities for health self-monitoring products and technologies that are now on the market or that are likely to enter the market over the rest of the decade. Specific objectives of the report include analyzing the following: - Identify and describe existing health self-monitoring technologies, as well as technologies that are under development. - Estimate the 2016 market for these technologies. - Analyze the major drivers and constraints that will influence the future development of the self- monitoring market. - Project the market for major health self-monitoring technology platforms, devices and software. - Describe and evaluate different vendors' business models. - Assess the potential impact of self-monitoring on the way medicine is practiced. Reasons for Doing This Study BCC Research has published studies of several related topics, including wearable computing (IFT071B), telemedicine (HLC014H), patient monitoring (HLC038E), smart textiles (AVM050B) and healthcare IT (HLC048E). The present study complements these studies. For example, the wearable computing study (IFT071B) discusses the likelihood that "activity monitoring applications" for sports and fitness will expand to other health and wellness markets but does not discuss these health and wellness application in much detail. IFT071B also discusses "wearable healthcare devices and safety monitors," but the latter are intended more for third-party (e.g., caregiver) monitoring rather than self-monitoring. The same is true of the patient monitoring technologies analyzed in HLC038E, HLC014H and AVM050B. Scope of Report The present report focuses specifically on technologies that enable the individual to monitor his or her own health. Third-party monitoring technologies thus are specifically excluded, except to the extent that the individual being monitored has direct access to the data, in a form useful for self-monitoring. Apps that extract data from an individual's EHR and format and display those data on the individual's self- monitoring device are covered in the report, but not EHRs per se. The latter are covered in BCC Research report HLC048D. Additional, unique topics covered in this report include: - Self-tracking's usability by target groups, such as seniors. - Vendor business models (e.g., Many self-tracking apps are free. How are vendors going to make money in this market?). - Structural impacts on the healthcare industry. The study includes these major elements: - Executive summary. - Overview (definitions, enabling technologies, market segmentation). - Market environment (demographic, economic, epidemiological, legal/ regulator, healthcare industry). - Major health self-monitoring platforms. - Health self-monitoring hubs. - Peripherals. - Software. - Company profiles. - Patent analysis. Information Sources Both primary and secondary research methodologies were used in preparing this study. The findings and conclusions of this report are based on information gathered from developers, providers, integrators and users of self-monitoring technologies. Interview data were combined with information gathered through an extensive review of secondary sources (e.g., trade publications, trade associations, company literature, online databases) to produce the baseline market estimates contained in this report. Methodology The base year for analysis and projection is 2016. The market projections for 20172022 are based on a consensus among the primary contacts combined with BCC Research's understanding of the key market drivers and their impact from a historical and analytical perspective. The analytical methodologies used to generate the market estimates are described in detail below. All dollar projections presented in this report are in 2016 constant dollars. Geographic Breakdown Demand projections are presented for the global market as a whole. Summary and Highlights This report analyzes the market for mobile digital technologies that generate health-related data primarily for the user's personal consumption. These technologies include: - Wristbands, smartwatches and other peripherals. - Mobile self-monitoring software applications. - Smartphones and other mobile "hub" devices that analyze, display and store self-monitoring data collected by peripherals as well as their own onboard sensors. - Self-monitoring software platforms such as Apple HealthKit, Google Fit and others. The global market for selected health self-monitoring technologies was valued at nearly $16.7 billion in 2016. The market is projected to exceed $20.7 billion in 2017 and approach $72 billion by 2022, with a compound annual growth rate (CAGR) of 28.3% between 2017 and 2022. The report analyzes but does not attempt to place a value on the markets for platform software and mobile hub devices. Platform software is either free to download (e.g., Google Fit) or else part of a broader operating system such as iOS versions 8 and later. Hub devices such as smartphones are for sale, of course, but individuals typically do not buy such a device specifically for its self-monitoring capabilities. The platform software and hub devices used in self-monitoring have value, of course, but as part of their respective manufacturers' whole "ecosystem" of connected devices. In the absence of specific sales numbers, it is necessary to conclude that Apple, Google and the others believe that health self- monitoring will enhance the value of the whole ecosystem to the point where returns on their investment in self-monitoring are very positive. The health self-monitoring market is dominated by the U.S., which accounted for approximately 45% of global sales in 2016. The U.S. share of the market has declined from 80% in 2013; however, due to faster growth rates in non-U.S. markets. The latter are expected to account for two-thirds of the global market for wearable self-monitoring devices by 2022. Read the full report: http://www.reportlinker.com/p03041361/Health-Self-Monitoring-Technologies-and-Global-Markets.htmlAbout Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.http://www.reportlinker.com __________________________Contact Clare: email@example.com US: (339)-368-6001Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/health-self-monitoring-technologies-and-global-markets--to-reach-719-billion-by-2022-300479733.html
Subscribe to our Free Newsletters!
A patient's struggle with Issacs' syndrome with no cure. Also known as neuromyotonia it is a rare ...
Inguinal hernia surgery is a procedure to repair a weak spot or defect in the lower wall of the ...
Hypopituitarism is a rare disorder resulting from decreased secretion of one or more of the ...View All