Wearable Wireless Device Revenues to Exceed $6 Billion in 2018

In a new assessment of the mobile healthcare market, ABI Research finds wearable wireless device revenues will grow to exceed $6 billion in 2018. Of the four segments tracked, sports, fitness and wellness is the largest, never dropping below 50% share of all device shipments over the forecast period.

“Fitness activity trackers are quickly gaining popularity in the market. Different from other more single-use or event-centric devices, activity trackers monitor multiple characteristics of the human body including movement, calories burned, body temperature, and sleep tracking,” says senior analyst, Adarsh Krishnan. Activity trackers are expected to grow at a 40% CAGR and overtake the 2013 shipment leader, heart rate monitors, in 2017.

The second largest market—home monitoring devices—which, primarily target the growing elderly care market, is also expected to witness strong growth over the next five years with overall device revenue growing at CAGR exceeding 39%. This segment is also anticipated to see the development of cross-over devices such as personal emergency response devices supplemented with activity tracker features.

The remaining wearable wireless device segments are remote patient monitoring and the professional (On-Site) healthcare market. These markets are unique due to relatively fewer suppliers and high device costs. Average costs for ECG monitors exceed $200; continuous glucose monitors exceed $800. Blood pressure monitors and pulse Oximeters remain the most popular devices in these market segments.

These findings are part of ABI Research’s Health Research Service, which includes Research Analyses, Market Data, Insights, and Competitive Assessments. The service looks at the rapidly developing market for wearable wireless sensors and their connectivity to gateway devices and smartphone applications across sports, fitness and wellbeing, home healthcare, remote patient monitoring, and on-site professional healthcare markets.