Philippines Wearable Medical Devices Market Size & Outlook
Philippines wearable medical devices market, 2018-2030 (US$M)
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Philippines wearable medical devices market highlights
- The Philippines wearable medical devices market generated a revenue of USD 245.3 million in 2023 and is expected to reach USD 1,474.2 million by 2030.
- The Philippines market is expected to grow at a CAGR of 29.2% from 2024 to 2030.
- In terms of segment, diagnostic was the largest revenue generating product in 2023.
- Therapeutic is the most lucrative product segment registering the fastest growth during the forecast period.
Wearable medical devices market data book summary
| Market revenue in 2023 | USD 245.3 million |
| Market revenue in 2030 | USD 1,474.2 million |
| Growth rate | 29.2% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic |
| Fastest growing segment | Therapeutic |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic, Therapeutic |
| Key market players worldwide | Koninklijke Philips NV, Fitbit, Intel Corp, Garmin Ltd, Covidien, OMRON Corp, Polar Electro, Everist Health, UltraLinq Healthcare Solutions, Sotera Health Co Ordinary Shares |
Other key industry trends
- In terms of revenue, Philippines accounted for 0.7% of the global wearable medical devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan wearable medical devices market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 6,149.5 million by 2030.
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Wearable Medical Devices Market Scope
Wearable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Philippines wearable medical devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wearable medical devices market will help companies and investors design strategic landscapes.
Diagnostic was the largest segment with a revenue share of 61.31% in 2024. Horizon Databook has segmented the Philippines wearable medical devices market based on diagnostic, therapeutic covering the revenue growth of each sub-segment from 2018 to 2030.
The rising aging population, urbanization, and increasing disposable income is creating demand for home healthcare or remote patient monitoring in Philippines. The healthcare system with the support of the private healthcare providers is being dominated by the public sector.
In addition, lack of infrastructure along with shortage of skilled professionals is putting strain on the healthcare system, therefore, creating opportunities for wearable medical devices market.
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Target buyers of Philippines wearable medical devices market databook
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Our clientele includes a mix of wearable medical devices market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Philippines wearable medical devices market , including forecasts for subscribers. This country databook contains high-level insights into Philippines wearable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Philippines Wearable Medical Devices Market Outlook Share, 2024 & 2030 (US$M)
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