Global Wearable Medical Devices Market Research Report initially provides an overview of the industry that covers definition, applications and technology, post which the report explores into the international players in the market. The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the market. The researcher provides an extensive analysis of the Wearable Medical Devices Market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.
In terms of revenue, the global wearable medical devices market was estimated to be US$ 10,450.0 Mn in 2018 and is expected to reach US$ +33,540.0 Mn by 2030 growing at a CAGR of +13.8% over the forecast period.
Major Market Players Profiled in the Wearable Medical Devices Market Report include: Activinsights Ltd, Apple Inc., Boltt, Dragerwork, Fitbit, Garmin Ltd., Intel Corporation, Intelesens Ltd. (Renew Health Limited), Lifesense, LifeWatch AG, Monica Healthcare, Omron, Philips Electronics, Samsung, Sotera Wireless, VitalConnect, Withings, Xiaomi Inc., and Zephyr Technology (Medtronic), amongst others.
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A detailed overview of the purchasing criteria and difficulties confronted in the Wearable Medical Devices business sector is also elaborated in this report. It likewise constitutes a broad investigation of the restraints on the market, business sector structure and the business pattern of the Wearable Medical Devices market. Meetings and interviews with the leading market participants have been used in order to present primary information regarding the market. Furthermore, this report gives a complete review of the magnitude and application scope of the market around the world. The report includes the completely examined and evaluated data of the noticeable companies and their situation in the market considering impact of Coronavirus. The measured tools including SWOT analysis, Porter’s five powers analysis, and assumption return debt were utilized while separating the improvement of the key players performing in the market.
Wearable medical devices in the healthcare industry comprises of electronic devices which consumer can wear such as wrist bands, smartwatches and alike. These smart devices are used for various biomedical applications such as monitoring, tracking, and recording the vital signs that are aimed on improving health of the customers. These devices are equipped with microchips, sensors and wireless communication technologies which are used in the accurate measurement of temperature, humidity, motion, heartbeat, amongst others. Additionally, these connected wearables are equipped with trackers that helps in reducing the overall cost of the diagnosis. The increasing need of customers to obtain real-time diagnosis and cost-effective treatment is influencing the growth of global wearable medical devices market. Such devices have gained significant popularity in recent years, especially in advanced countries where spending on health care is comparatively high. The daily routine of employees from corporate sector and many other sectors is becoming hectic and tiring involving fewer physical activities which makes them prone to various illnesses and degradation of health. These employees also tend to procrastinate consulting a doctor or even undergo prescribed tests for diagnosing, their health issues and its remedial actions. The wearable medical devices have proved their mettle in such cases and assisted different people with different lifestyle to achieve healthy lifestyle habits. These devices provide accurate tracking of various activities such as counting sports exercise, studying people habits, and monitoring the vitals of elderly population. The wearable tracker devices are becoming predominant on account of their capabilities regarding real-time tracking of activities. It updates the user on various activities such as distance walked, sleep time, and others which makes him aware of his energy usage and required calorie intake along with optimal amount of exercise. The wearable medical devices have several advantages including increased mobility enabling the doctors to remotely access patient data, coupled with providing real-time monitoring of patients. Factors such as steady rise in lifestyle disease, device cost-effectiveness, and increasing accessibility of connected healthcare applications are fueling the growth of global wearable medical devices market.
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These devices are in physical contact with the body which enables healthcare professionals to monitor the vitals of user by either invasive or non-invasive methods. Additionally, these devices are equipped with advanced technologies that enables the user to procure accurate data regarding the chronic diseases from which user is suffering. The several advantages associated with the wearable medical devices is expected to drive the growth of global wearable medical devices market.
Due to sedentary lifestyle, the high prevalence of lifestyle-associated disorders such as diabetes and hypertension requires continuous monitoring of several physiological parameters, including blood sugar levels and blood pressure. The growing prevalence such diseases, coupled with growing number of ageing population is supplementing the growth of global wearable medical devices market. For instance, according to the data of International Diabetes Foundation (IDF), in 2019 there were approximately 463 million adults (20-79 years of age) affected from diabetes and it is expected to rise to 700 million users by 2045. Additionally, the low and middle income countries are directly affected by diabetes and it constituted nearly 79% of the total affected population. The manufacturers of medical devices are focused on reducing the size of the medical devices and have incorporated features, such as lightweight and compactness. This has led to growing adoption of continuous glucose monitor (CGM) devices amongst diabetic patients. Companies such as Dexcom, Inc. have introduced wearable glucose monitoring devices catering even children of 2 years old expanding the target audience of this technology. Moreover, incorporation of additional features, such as smartphone compatibility and long-lasting battery life is enhancing its acceptance and thereby influencing the growth of global wearable medical devices market.
Why the Wearable Medical Devices Market Report is Beneficial?
- The Wearable Medical Devices report is compiled with a thorough and dynamic research methodology.
- The report offers a complete picture of the competitive scenario of the Wearable Medical Devices market.
- It comprises vast amount of information about the latest technology and product developments in the Wearable Medical Devices industry.
- The extensive range of analysis associates with the impact of these improvements on the future of Wearable Medical Devices industry growth.
- The Wearable Medical Devices report has combined the required essential historical data and analysis in the comprehensive research report.
- The insights in the Wearable Medical Devices report can be easily understood and contains a graphical representation of the figures in the form of bar graphs, statistics and pie charts, etc.
- This report can be customized to meet the client’s requirements. Please connect with our sales team, who will ensure that you get a report that suits your needs.
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Global Wearable Medical Devices Market:
- Vital Sign Monitors
- Heart Rate Monitors
- Activity Monitors
- Sleep Monitors
- Wearable Fetal Monitor and Obstetric Device
- Neuromonitoring Device
- Pain Management Wearable Medical Devices
- Glucose Monitoring Wearable Devices
- Respiratory Therapy Wearable Devices
- Vital Sign Monitors
- Sports and Fitness
- Remote Patient Monitoring
- Home Healthcare
By Device Type
- Ear Wear
- North America
- United States
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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