by The global Military Wearable Medical Device market size is expected to be worth around US$ 50.7 billion by 2030, according to a new report by Vision Research Reports.
The global Military Wearable Medical Device market size was valued at US$ 6.7 billion in 2020 and is anticipated to grow at a CAGR of 31.0% during forecast period 2021 to 2030.
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Growth Factors
The rising R&D investment for military modernization programs, the growing need for advanced technology to overcome the limitations of previous wearable devices, and the safety and security features of the device are the key factors driving the market. The development of advanced technologies such as performance monitoring and heart monitoring can help to track the overall performance of the individual wearing this device.
The growth of the market is attributed to the improvement in the overall performance of military soldiers with the help of innovative technology and the rising demand for lightweight military devices. The Covid-19 pandemic has transformed the market for military wearable medical devices because wearable technologies could monitor, detect, and prevent the spread of the virus. The Covid-19 virus has indirectly increased the demand for wearable medical devices.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 50.7 billion by 2030 |
| Growth Rate | CAGR of 31.0% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Fitbit; Zephyr Technology Corporation; Camntech; Bittium; Polar Electro; Oura; Garmin; NeuroMetrix; GOQii; Apple Inc.; Samsung |
By Application Analysis
Heart monitor accounted for the largest revenue share of over 81.0% in 2021. The rapid growth of the segment is attributed to the rising technological advancement in monitoring the heart health of individuals in extreme conditions to prevent some major issues.
The heart monitor segment is further sub-segmented into sick alert and heart rate variability. The features are essential for the soldiers who work in extreme conditions. HRV monitors the variation in time between every heartbeat.
By Regional Analysis
North America led the market and held a revenue share of over 36.0% in 2020 owing to the rising R&D activities for military wearable devices and increasing investment for soldier modernization programs. The U.S. Army wants to adopt the latest technology for the safety and security of its soldiers.
The market players in North America are continuously developing advanced technological devices for the military, which can be beneficial for the soldiers during training, on-ground service, or during the war.
Key Players
- Bittium
- Polar Electro
- Oura
- Garmin
- NeuroMetrix
- GOQii
- Apple Inc.
- Samsung
- Fitbit
- Zephyr Technology Corporation
- Camntech
Market Segmentation
- By Application
- Heart Monitor
- Sick Alert
- Heart Rate Variability
- Performance monitor
- Sleep-wake Cycle Alert
- Core Body Temperature Monitoring
- Heart Monitor
- Regional
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Egypt
- Saudi Arabia
- Israel
- North America
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Military Wearable Medical Device Market, By Application
7.1. Military Wearable Medical Device Market, by Application, 2021-2030
7.1.1. Heart Monitor
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Performance monitor
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Military Wearable Medical Device Market, Regional Estimates and Trend Forecast
8.1. North America
8.1.1. Market Revenue and Forecast, by Application (2017-2030)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Application (2017-2030)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Application (2017-2030)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Application (2017-2030)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Application (2017-2030)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Application (2017-2030)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Application (2017-2030)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Application (2017-2030)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Application (2017-2030)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Application (2017-2030)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Application (2017-2030)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Application (2017-2030)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Application (2017-2030)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Application (2017-2030)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Application (2017-2030)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Application (2017-2030)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Application (2017-2030)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Application (2017-2030)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Application (2017-2030)
Chapter 9. Company Profiles
9.1. Bittium
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. Polar Electro
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. Oura
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Garmin
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. NeuroMetrix
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. GOQii
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. Apple Inc.
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. Samsung
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives
9.9. Fitbit
9.9.1. Company Overview
9.9.2. Product Offerings
9.9.3. Financial Performance
9.9.4. Recent Initiatives
9.10. Zephyr Technology Corporation
9.10.1. Company Overview
9.10.2. Product Offerings
9.10.3. Financial Performance
9.10.4. Recent Initiatives
9.11. Camntech
9.11.1. Company Overview
9.11.2. Product Offerings
9.11.3. Financial Performance
9.11.4. Recent Initiatives
Chapter 10. Research Methodology
10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions
Chapter 11. Appendix
11.1. About Us
11.2. Glossary of Terms
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