The global pregnancy wearable devices market is estimated to garner substantial revenue by growing at a CAGR of ~26% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing awareness of the importance of fitness among expectant mothers and a healthier lifestyle during pregnancy. According to the World Health Organization (WHO), hypertensive-related illnesses during pregnancy accounted for 14% of all maternal deaths globally. Also, as per the data published by the Preeclampsia Foundation, preeclampsia and related hypertensive disorders of pregnancy impacted 5-8% of all births in the United States, and the rate had been increased by 25% in the last two decades and is further known to be the leading cause of maternal and infant illness and death. Pregnant women can use a "wearable" tool to identify if they have or are at risk of developing a condition that could lead to adverse health problems for them or their developing fetus. Thus, the growing number of pregnant women with complications is expected to lead to an increase in demand for pregnancy wearable devices.
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The market is segmented by product category into health tracking devices, real time contraction tracking devices, heart rate monitoring devices, blood pressure monitoring, and others, out of which, the health tracking devices segment is expected to account for the largest share of the global pregnancy wearable devices market owing to rising awareness about the importance of fitness during pregnancy and an increase in cases of complications in expectant mothers, accompanied by an increase in the number of early adoptions and improved healthcare infrastructure.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global pregnancy wearable devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is estimated to witness modest growth during the forecast period on the back of the rising awareness about the importance of fitness during pregnancy and an increase in cases of complications in expectant mothers. As per the data released by U.S. Centers for Disease Control and Prevention National Center for Health Statistics (CDC-NCHS), in the year 2020, the maternal mortality rate in the United States was 23.8 deaths per 100,000 live births. Further, in the year 2019, the rate registered was 20.1 deaths. On the other hand, as a result of the increased number of early adoptions of new technology and improved healthcare infrastructure in this region, Asia-Pacific is predicted to develop considerably in the pregnancy wearable devices market, during the forecast period.
The global pregnancy wearable devices market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global pregnancy wearable devices market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The increasing awareness about importance of fitness during pregnancy is estimated to be the major factor that is driving the growth of the global pregnancy wearable devices market.
The market is anticipated to attain a notable CAGR of ~26% over the forecast period, i.e., 2022-2031.
The major players in the market are Abbott, Medtronic, NUVO Inc., Apple Inc., Bloomlife, Inc., Brainlab AG, Koninklijke Philips N.V., Bellabeat, Inc., Aparito Limited, Varian Medical Systems, Inc. (Siemens Healthineers).
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product category, distribution channel, and by region.
The health tracking devices segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.
Lack of product understanding and high speculation about the emission of harmful radiation from the devices, which are predicted to cause behavioral disorders in children, are expected to hinder market growth.
North America is estimated to provide more business opportunities for growth of pregnancy wearable devices market in future.
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