Military Wearable Medical Device Industry Overview
The global military wearable medical device market size was valued at USD 5.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 30.1% from 2021 to 2028.
The rising RD 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. Due to the outbreak of the COVID-19 pandemic, the need for wearable devices has increased to monitor the heart rate and oxygen as the device helps to identify the vitals of the patients with the diseases. The U.S. military is looking for a new wearable medical device to monitor and track the vitals of individuals and check whether they have contracted the virus. The U.S. defense department has set USD 25 million aside for the development of accurate and rapid wearable diagnostics to isolate pre-symptomatic cases of the Covid-19 virus and identify, track, and prevent the spread of the virus. Over 5000 people of the U.S. armed forces have been tested positive for the virus. The high-tech wearable device can monitor heart rate, oxygen, and overall health and can early detect the symptoms of the Covid-19 virus.
Gather more insights about the market drivers, restrains and growth of the Global Military Wearable Medical Device Market
In the military, the individuals have to operate and perform intense work in extreme conditions like hot and humid conditions, which can directly affect their overall health. With the help of non-invasion monitoring devices, the military can track, detect, and prevent the health condition of their officers. This device also reflects physiological health during field training and operations.
Market players such as Zephyr Technology Corporation have introduced BioModule technology and OmniSense software that provides a single solution that monitors and measures a wide variety of biomechanical and psychological data. This software is used to correct and enhance the performance of individuals. A customized approach to training can lead to ideal results.
In the military environment, soldiers are often exposed to intense mental and psychological stress, which has a different impact on their performance and health. One of the reasons that impact health and performance is sleep deprivation. Hence, with the help of these devices, adequate sleep monitoring can indicate that sleep recovery is necessary.
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Military Wearable Medical Device Market Segmentation
Grand View Research has segmented the global military wearable medical device market on the basis of application and region:
Military Wearable Medical Device Application Outlook (Revenue, USD Million, 2016 - 2028)
- Heart Monitor
- Performance Monitor
Military Wearable Medical Device Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Market Share Insights
- September 2020: Garmin International has announced the launch of a new heart rate monitor with the dual transmission. It is a lightweight device that transmits real-time heart rate data. The new product launch is anticipated to increase the revenue of the company.
Key Companies profiled:
Some prominent players in the global military wearable medical device market include:
- Bittium
- Polar Electro
- Oura
- Garmin
- NeuroMetrix
- GOQii
- Apple Inc.
- Samsung
- Fitbit
- Zephyr Technology Corporation
- Camntech
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