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Australia and New Zealand Wearable Medical Devices Market: By Product: Diagnostic Devices, Therapeutic Devices; By Site: Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, Others; By Distribution Channel: Pharmacies, Online Channel, Hypermarkets; By Applications; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Australia and New Zealand Wearable Medical Devices Market Outlook
The Australia and New Zealand wearable medical devices market size is expected to grow at a CAGR of 6.52% during the forecast period of 2024-2032, driven by the increasing advancements in wearable technologies, along with rising partnerships to increase their application across multiple fields.
Australia and New Zealand Wearable Medical Devices Market Overview
The wearable medical devices market in Australia and New Zealand has been witnessing steady growth owing to increasing adoption of latest technologies to offer improved solutions to the consumers. With an increasing trend towards digital health, wearables are being highly incorporated in the medical domain to facilitate remote monitoring and telehealth applications. Owing to the rising demand, key healthcare players have expediated their research and development of such products. The government has shown keen interest in promoting the development of new devices by entering collaborations and granting funds to related companies.
Advancement in Design to Enhanced Comfort to Drive Australia and New Zealand Wearable Medical Devices Market Growth
In November 2023, a team led by RMIT University in Australia developed a lightweight, waterproof, compact and gel-free electrocardiogram (ECG) sensor . When compared to conventional heart monitoring devices, the incorporation of wearable technology aids comfort and less skin irritation in addition to continuous monitoring of body vitals. To cater an aging population, the device can capture ECG signals even when it is applied behind the patient’s neck. Developed with dry electrodes, the device is highly thin and can be recycled at ease as well. Hence, it is a leap forward in preventing and treating the rising prevalence of cardiovascular diseases (affects approximately 4 million Australians, resulting in 100 deaths every day) and indicates the increasing adoption of wearables in the market.
Surge in Investments to Drive Innovation
The rising collaborations between academic institutions and emerging start-ups is poised to boost the Australia and New Zealand wearable medical devices market value. In March 2023, the University of Melbourne invested USD 500,000 in an innovative at-home pregnancy monitoring startup known as Kali Healthcare . The company has developed a sensor patch along with a small wearable device to detect the baby’s heart rate and is associated with decreasing the infant mortality rate in the country. Facilitating easy access to pregnancy monitoring, the application of such new technologies can help in preventing stillbirth, which affects 1 in every 130 pregnancies in the region.
Rising Application of Wearable Medical Devices Across Various Domains
In March 2023, a New Zealand based company called Exxovantage deployed wearable robotic solutions to avoid workplace injuries amongst the staff. Integrating artificial intelligence-based workplace wearables have also helped in improving the efficiency of workers by avoiding the time lost in managing injuries. This also indicates that the wearable medical devices market demand is expected to rise owing to its application in various domains including aviation, defense, construction, dairy farming, horticulture, mining in addition to healthcare sectors.
Increasing Partnerships to Promote the Australia and New Zealand Wearable Medical Devices Market Share
In June 2023, the University of South Australia in collaboration with the Department of Defense, and their industry partner Insight Via Artificial Intelligence and the University of Adelaide launched a project to use machine learning algorithms in wearables and detect early signs of infection. The new approach can particularly help the military personnel as it continuously keeps track of the vital in an efficient and time-saving manner. In the new project, the researchers are aiming to develop off-the-shelf consumer wearables that contain sophisticated sensors to collect hours of data at a low cost. The minimally invasive method also offers an advantage over the conventional methods that involve nasal or blood samples for detection.
Australia and New Zealand Wearable Medical Devices Market Segmentation
Market Breakup by Product
- Diagnostic Devices
- Vital Sign Monitoring Devices
- Sleep Monitoring Devices
- Electrocardiographs fetal & Obstetric Devices
- Neuromonitoring Devices
- Therapeutic Devices
- Pain Management Devices
- Insulin/Glucose Monitoring Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
Market Breakup by Site
- Handheld
- Headband
- Strap/Clip/Bracelet
- Shoe Sensors
- Others
Market Breakup by Distribution Channel
- Pharmacies
- Online Channel
- Hypermarkets
Market Breakup by Applications
- Sports and Fitness
- Remote Patient Monitoring
- Home Healthcare
- Cardiology
Market Breakup by End User
- Infants
- Kids
- Adults
- Elderly
Market Breakup by Country
- Australia
- New Zealand
Australia and New Zealand Wearable Medical Devices Market Regional Analysis
As the population is getting increasingly aware about the benefits of wearable medical devices, the Australia and New Zealand wearable medical devices market size is expected to grow in the forecast period. In addition, the rising disposable incomes contribute to increased utility of fitness trackers, smart watches with health monitoring devices and medical grade wearables. The rising prevalence of chronic diseases is another major factor that contributes to the increasing market value. The increasing risk of diabetes, cardiovascular diseases, and kidney diseases associated with unhealthy dietary habits, stressful working conditions and sedentary lifestyle further fuel the market growth.
Australia and New Zealand Wearable Medical Devices Market: Competitor Landscape
In July 2023, Nutromics , an Australian diagnostics company raised USD 7 million to accelerate the development of their medical wearable diagnostic platform. The company also launched a Series A funding round where it pooled around USD 33 million in investments. Integrating a DNA sensor technology to track several targets like disease biomarkers and hard-to-dose drugs, the technology is presently being for in-human trials at Monash Health. A similar market trend of rising investments and product portfolio expansion is being witnessed by multiple companies.
The key features of the Australia and New Zealand wearable medical devices market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Huawei Technologies Co. Ltd
- Oppo
- Apple Inc.
- Samsung Electronics Co. Ltd
- Nuheara Limited
- Garmin Ltd
- OnePlus
- Wear OS
- Fitbit Inc.
- Philips Electronics
- Sotera Wireless
- Intelesens Ltd.
- Omron Corp.
- Vital Connect
- Polar Electro
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Site |
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| Breakup by Distribution Channel |
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| Breakup by Applications |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Australia and New Zealand Wearable Medical Devices Market Overview
3.1 Australia and New Zealand Wearable Medical Devices Market Historical Value (2017-2023)
3.2 Australia and New Zealand Wearable Medical Devices Market Forecast Value (2024-2032)
4 Australia and New Zealand Wearable Medical Devices Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.3 Porter’s Five Forces Model
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Australia and New Zealand Wearable Medical Devices Market Segmentation
5.1 Australia and New Zealand Wearable Medical Devices Market by Product
5.1.1 Market Overview
5.1.2 Diagnostic Devices
5.1.2.1 Vital Sign Monitoring Devices
5.1.2.2 Sleep Monitoring Devices
5.1.2.3 Electrocardiographs Fetal & Obstetric Devices
5.1.2.4 Neuromonitoring Devices
5.1.3 Therapeutic Devices
5.1.3.1 Pain Management Devices
5.1.3.2 Insulin/Glucose Monitoring Devices
5.1.3.3 Rehabilitation Devices
5.1.3.4 Respiratory Therapy Devices
5.2 Australia and New Zealand Wearable Medical Devices Market by Site
5.2.1 Market Overview
5.2.2 Handheld
5.2.3 Headband
5.2.4 Strap/Clip/Bracelet
5.2.5 Shoe Sensors
5.2.6 Others
5.3 Australia and New Zealand Wearable Medical Devices Market by Distribution Channel
5.3.1 Market Overview
5.3.2 Pharmacies
5.3.3 Online Channel
5.3.4 Hypermarkets
5.4 Australia and New Zealand Wearable Medical Devices Market by Applications
5.4.1 Market Overview
5.4.2 Sports and Fitness
5.4.3 Remote Patient Monitoring
5.4.4 Home Healthcare
5.4.5 Cardiology
5.5 Australia and New Zealand Wearable Medical Devices Market by End User
5.5.1 Market Overview
5.5.2 Infants
5.5.3 Kids
5.5.4 Adults
5.5.5 Elderly
5.6 Australia and New Zealand Wearable Medical Devices Market by Country
5.6.1 Market Overview
5.6.2 Australia
5.6.3 New Zealand
6 Patent Analysis
6.1 Analysis by Type of Patent
6.2 Analysis by Publication year
6.3 Analysis by Issuing Authority
6.4 Analysis by Patent Age
6.5 Analysis by CPC Analysis
6.6 Analysis by Patent Valuation
6.7 Analysis by Key Players
7 Grants Analysis
7.1 Analysis by year
7.2 Analysis by Amount Awarded
7.3 Analysis by Issuing Authority
7.4 Analysis by Grant Application
7.5 Analysis by Funding Institute
7.6 Analysis by NIH Departments
7.7 Analysis by Recipient Organization
8 Funding Analysis
8.1 Analysis by Funding Instances
8.2 Analysis by Type of Funding
8.3 Analysis by Funding Amount
8.4 Analysis by Leading Players
8.5 Analysis by Leading Investors
8.6 Analysis by Geography
9 Partnership and Collaborations Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
10.1 Regulatory Overview
11 Supplier Landscape
11.1 Huawei Technologies Co. Ltd
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.1.5 Certifications
11.2 Oppo
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.2.5 Certifications
11.3 Apple Inc.
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.3.5 Certifications
11.4 Samsung Electronics Co. Ltd
11.4.1 Financial Analysis
11.4.2 Financial Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.4.5 Certifications
11.5 Nuheara Limited
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.5.5 Certifications
11.6 Garmin Ltd
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.6.5 Certifications
11.7 OnePlus
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.7.5 Certifications
11.8 Wear OS
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.8.5 Certifications
11.9 Fitbit Inc.
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.9.5 Certifications
11.10 Philips Electronics
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.10.5 Certifications
11.11 Sotera Wireless
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.11.5 Certifications
11.12 Intelesens Ltd.
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.12.5 Certifications
11.13 Omron Corp.
11.13.1 Financial Analysis
11.13.2 Product Portfolio
11.13.3 Demographic Reach and Achievements
11.13.4 Mergers and Acquisitions
11.13.5 Certifications
11.14 Vital Connect
11.14.1 Financial Analysis
11.14.2 Product Portfolio
11.14.3 Demographic Reach and Achievements
11.14.4 Mergers and Acquisitions
11.14.5 Certifications
11.15 Polar Electro
11.15.1 Financial Analysis
11.15.2 Product Portfolio
11.15.3 Demographic Reach and Achievements
11.15.4 Mergers and Acquisitions
11.15.5 Certifications
12 Australia and New Zealand Wearable Medical Devices Market - Distribution Model (Additional Insight)
12.1 Overview
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
15.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market is anticipated to grow at a CAGR of 6.52% during the forecast period of 2024-2032, driven by the rising technical advancements in wearable technologies, along with growing partnerships to increase their application across multiple fields.
The market demand is driven by the rising prevalence of chronic diseases that require continuous monitoring of vitals. In addition, the focus on preventive healthcare and fitness also plays a significant role in rising demand.
The improvement in wearable designs to offer better patient outcomes is a major market trend. In November 2023, a team led by RMIT University in Australia developed a waterproof, lightweight, compact, and gel-free electrocardiogram (ECG) sensor to offer to continuous monitoring of body vitals.
Based on product types, the market is divided into diagnostic and therapeutic devices. Diagnostic devices are further segmented into vital sign monitoring devices, sleep monitoring devices, electrocardiographs fetal and obstetric devices and neuromonitoring devices. Therapeutic devices include pain management devices, insulin/glucose monitoring devices, rehabilitation devices and respiratory therapy devices.
It includes handheld, headband, strap/clip/bracelet, and shoe sensors, among others.
Common application areas include sports and fitness, remote patient monitoring, home healthcare and cardiology.
Major distribution channels include pharmacies, online channels, and hypermarkets.
Major end users include infants, kids, adults, and elderly.
Based on countries, it includes Australia and New Zealand.
Key players involved in the market are Huawei Technologies Co. Ltd., Oppo, Apple Inc., Samsung Electronics Co. Ltd., Nuheara Limited., Garmin Ltd., OnePlus, Wear OS, Fitbit Inc., Philips Electronics, Sotera Wireless, Intelesens Ltd., Omron Corp., Vital Connect, and Polar Electro.
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