Wireless Health Monitoring Market - Forecast(2021 - 2026)

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Wireless Health Monitoring Market Overview

Global Wireless Health Monitoring Market size was valued at $5.28 billion in 2019, and it is estimated to grow at a CAGR of 15.84% during 2020-2025. The growth is mainly attributed to the shift towards wireless from wired equipment devices owing to its ease of use. Wireless health monitoring devices have made the patient monitoring much sophisticated and reliable to the patients living in the remote areas. The patients can easily send their health information to the respective physicians at any given time from any location at any time. This is poised to propel the wireless monitoring market.

Wireless Health Monitoring Market Report Coverage

The report: “Wireless Health Monitoring System Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Wireless Health Monitoring System Market. 
By Offering Type: Hardware (Sensing Modules, Receiver and Transmitters, Gateways, Switches and Terminals, Others); Software; Services
By Connectivity: Zigbee, Wi-Fi, Bluetooth, WirelessHART, LoRA, Cellular, WBAN, Others
By System Type: Structural Health Monitoring System (Deflection Monitoring, Leak Detection, Pressure Monitoring, Fire Detection, Others); Machine Health Monitoring System (Vibration Monitoring, Lubricant Analysis, Temperature Monitoring, Corrosion Monitoring, Others); Patient Health Monitoring System (Vital Sign Monitoring, Medication Management, Chronic Disease Monitoring, Fitness and Wellness Monitoring & Others)
By End User: Healthcare (Hospitals, Ambulatory Centers, Clinics, Diagnostic Centers, Nursing Homes, Elder Care Facilities and Others); Industrial (Aerospace & Defense, Automotive, Chemicals, Oil & Gas, Marine, Power, Utilities, HVAC, Others); Infrastructures (Bridges, Dams, Stadiums, Others)
By Geography: North America (U.S., Canada and Mexico); South America (Brazil, Argentina, Rest of Americas); Europe (U.K., Germany, Italy, France, Rest of Europe); APAC (China, Japan, South Korea, India, Rest of APAC); RoW (Middle East & Africa)

Key Takeaways

  • North America dominated the Wireless Health Monitoring System market in term of revenue in 2019 owing to the presence of major number of players.
  • Adoption of advanced technologies with the development of advanced products set to drive the market
  • Increasing adoption of Wireless Health Monitoring System in healthcare and other industries with growing trend of 4G and 5G technology is set to drive the market.
  • High cost is the major challenge that hampers the market growth.

Wireless Health Monitoring Market Segment Analysis - By System Type

Structural health monitoring held the major share of 32.54% in 2019. Growing trend of 4G and 5G technologies have created demand for adoption of wireless structural health monitoring devices. Advent of industry 4.0 and implementation of Internet of Things (IoT) technologies have created demand for the market. Wireless sensing units integrate wireless communications and mobile computing with sensors to deliver a relatively inexpensive sensor platform. Integration of computing with a wireless sensing unit provides sensors with the opportunity to self-interrogate measurement data and this drives the market growth.

Wireless Health Monitoring Market Segment Analysis - By End User

Healthcare is the fastest growing segment in Wireless Health Monitoring System market and estimated to grow at a CAGR of 16.09% during forecast period 2020-2025. In Healthcare sector, wireless health monitoring systems is majorly used in order to help the nursing staff for easily managing the data of different patients and carry on the ad-hoc emergency cases and requirement of advanced healthcare infrastructure. Increasing investments in healthcare sector and evolution of global pandemic diseases create opportunities for the wireless health monitoring system market growth during forecast period.

Wireless Health Monitoring Market Segment Analysis - By Geography

North America dominated the Wireless Health Monitoring System market in 2019 with a market share of 39.28%, followed by Europe and APAC owing to the presence of large number of players. In addition to these, high adoption of automation technologies in industries and high purchasing power of advanced equipment drives the market growth. High investments in research and development activities for the development of advanced products drive the market growth in this region.

Wireless Health Monitoring Market Drivers

Technological advancements

Increasing advancements in wireless communication technologies, cloud computing and robust penetration of 4G and increasing investments in 5G networks is set to drive the market growth. Technological advancements have enabled the manufacturers to develop pharmaceutical dosage forms, which contains an ingestible sensor inside the pill that transmits the data after consumption. Chip on a pill technology monitors the condition of patients, sends reminders to adhere to the respective prescribed treatment, and also notifies the neurologists on the health status reports.

Growing healthcare awareness and increasing cardio vascular diseases

Increasing cardiovascular diseases and growing healthcare awareness has created demand for wireless health monitoring system. Heart patients require continuous monitoring of certain vital body parameters such as heart rate, pulse rate and electrocardiogram (ECG) shows current health status clearly. According to World Bank, the elderly population have been increased from 625.39 million to 697.96 million during 2016-2019 period. Adoption of wireless health monitoring systems with increasing elderly population drive the market growth.

Wireless Health Monitoring Market Challenges

High cost

High cost is the major challenge that hampers the wireless health monitoring market growth. Lack of uniform reimbursement restricts the market growth. The cost for wireless health monitoring rises with range, precision, accuracy, resolution and repeatability. The cost include the costs of hardware, software, and services that majorly depend on the complexity of structures and cost of construction. Highly complex structures require highly efficient instrumentation solutions, which increases the overall costs. Additionally, monitoring costs involved in this are also very high. Thus, high costs involved in wireless health monitoring is restraining the market growth.

Wireless Health Monitoring Market Landscape

Product launches, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Wireless Health Monitoring market. Nihon Kohden Corporation, GE Company, Emerson Electric, Parker Hannifin Corporation, SKF AB, ABB Ltd, Banner Engineering Corp, Sensor-Works Ltd, American Telecare, Cardiocom, Carematix, Cybernet Medical Corporation, Drager Medical, GE Healthcare, Global Media Group, Honeywell and others.

Acquisitions/Technology Launches

  • In February 2019, Nihan Kohden, had launched NK-HIQ enterprise gateway the next-generation platform that integrates data from patient monitoring devices and consolidates multiple applications into a single powerful platform. Introduction of advanced medical devices and software solutions drive the Company’s wireless health monitoring market share.
  • In April 2020, GE Healthcare and Microsoft had collaborated in order to launch covid-19 patient monitoring software for health systems and hospitals. This drives the market during forecast period.

1. Wireless Health Monitoring Market Overview
2. Executive Summary
3. Wireless Health Monitoring Market Landscape
   3.1. Market Share Analysis
   3.2. Comparative Analysis 
      3.2.1. Competitor Benchmarking
      3.2.2. Patent Analysis
      3.2.3. Top 5 Financials Analysis
4. Wireless Health Monitoring Market Forces
   4.1. Market Drivers
   4.2. Market Constraints
   4.3. Market Challenges
   4.4. Attractiveness of the Industry
      4.4.1. Power of Suppliers
      4.4.2. Power of Customers
      4.4.3. Threat of New entrants
      4.4.4. Threat of Substitution
      4.4.5. Degree of Competition
5. Wireless Health Monitoring Market – Strategic Analysis
   5.1. Value Chain Analysis
   5.2. Pricing Analysis
   5.3. Opportunities Analysis
   5.4. Product/Market Life Cycle Analysis
6. Wireless Health Monitoring Market – By Offering Type
   6.1. Hardware
      6.1.1. Sensing Modules
      6.1.2. Receiver and Transmitters
      6.1.3. Gateways, Switches and Terminals
      6.1.4. Others
   6.2. Software
   6.3. Services
7. Wireless Health Monitoring Market – By Connectivity
   7.1. Zigbee
   7.2. Wifi
   7.3. Bluetooth
   7.4. WirelessHART
   7.5. LoRA
   7.6. Cellular
   7.7. WBAN
   7.8. Others
8. Wireless Health Monitoring Market – By System Type
   8.1. Structural Health Monitoring System
      8.1.1. Stress, Strain & Hotspot Monitoring
      8.1.2. Deflection Monitoring
      8.1.3. Leak Detection
      8.1.4. Pressure Monitoring
      8.1.5. Fire Detection
      8.1.6. Others
   8.2. Machine Health Monitoring System
      8.2.1. Vibration Monitoring
      8.2.2. Lubricant Analysis
      8.2.3. Temperature Monitoring
      8.2.4. Corrosion Monitoring
      8.2.5. Others
   8.3. Patient Health Monitoring System
      8.3.1. Vital Sign Monitoring
      8.3.2. Medication Management
      8.3.3. Chronic Disease Monitoring
      8.3.4. Fitness and Wellness Monitoring
      8.3.5. Others
9. Wireless Health Monitoring Market – By End User
   9.1. Healthcare
      9.1.1. Hospitals
      9.1.2. Ambulatory Centers
      9.1.3. Clinics
      9.1.4. Diagnostic Centers
      9.1.5. Nursing Homes
      9.1.6. Elder Care Facilities
      9.1.7. Others
   9.2. Industrial
      9.2.1. Aerospace and Defense
      9.2.2. Automotive
      9.2.3. Chemicals
      9.2.4. Oil and Gas
      9.2.5. Marine
      9.2.6. Power
      9.2.7. Utilities
      9.2.8. HVAC
      9.2.9. Others
   9.3. Infrastructures
      9.3.1. Bridges
      9.3.2. Dams
      9.3.3. Stadiums
      9.3.4. Others
10. Wireless Health Monitoring Market - By Geography
   10.1. Americas
      10.1.1. U.S.  
      10.1.2. Canada 
      10.1.3. Mexico
      10.1.4. Brazil
      10.1.5. Others
   10.2. Europe 
      10.2.1. U.K.
      10.2.2. Germany
      10.2.3. France
      10.2.4. Italy
      10.2.5. Spain
      10.2.6. Benelux
      10.2.7. Nordics
      10.2.8. Others
   10.3. APAC
      10.3.1. China 
      10.3.2. Japan
      10.3.3. South Korea
      10.3.4. India
      10.3.5. Australia and New Zealand
      10.3.6. Others
   10.4. RoW
      10.4.1. Middle East
      10.4.2. Africa
11. Market Entropy
   11.1. New Product Launches
   11.2. M&As, Collaborations, JVs, Partnership
12. Company Profiles
   12.1. Nihon Kohden Corporation (Japan)
   12.2. GE Company (U.S)
   12.3. Emerson Electric Company (U.S.)
   12.4. Parker-Hannifin Corporation (U.S.)
   12.5. SKF AB (Sweden)
   12.6. ABB Ltd (Switzerland)
   12.7. Banner Engineering Corp (U.S.)
   12.8. Sensor-Works Ltd (U.K.)
   12.9. Company 9
   12.10. Company 10
*More than 10 Companies are profiled in this Research Report*
"*Financials would be provided on a best efforts basis for private companies"
13. Appendix
   13.1. Abbreviations
   13.2. Sources
   13.3. Research Methodology
   13.4. Bibliography
   13.5. Compilation of Expert Insights   
   13.6. Disclaimer