North America Wearable Medical Devices Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2018 at a CAGR of 25.4% (Detailed analysis of the market CAGR is provided in the report).
Medical wearable devices have accounted a high growth in the past few years. Wearable medical devices are used for monitoring as well as helping a patient to cure his ailments. Examples for such devices would include devices used for treating hearing ailments, head support, eyes etc.
Activity monitors segment is expected to hold one of the largest shares for wearable medical devices market in North America. Introduction of smart health concepts using IoT technology for connecting various devices and monitoring them as well have been an important concept that has formed the crux for large-scale application of activity monitors. Concept for wearable medical devices has now been not only limited to geriatric population but to the younger ones as well.
It is observed that in USA one in every four people suffer from some secondary or primary ailments. Introduction of smart wearables in healthcare sector has also helped doctors to gather real-time data and connect directly with patients in case of emergencies. Considering the distribution channel for wearable medical devices market in North America, it is the pharmacies segment that held one of the largest shares and thereby helped in the overall market growth. Online market has been the fastest growing in terms of distribution channel.
Rise in availability of new devices sometimes at a lower cost has made the growth even faster. More number of options available to choose from for secondary ailments along with competitive pricing and detailed product description along with easy usage manuals has further boosted distribution of smart wearable medical devices in North America. The applications covered in this reports are sports and fitness, remote patient monitoring and home healthcare.
Sports and fitness has been a key market segment when it comes to wearable medical devices. It is the home healthcare sector that has seen the steadiest growth in the last decade. Remote patient monitoring is a developing concept with major improvements being made to get access for real-time information of terminally ill patients. This has further improved as a result of doctors opting for this solution giving patients a fair chance to live away from hospitals at the same time giving doctors the required data.
Based on geography, North America wearable medical devices market has been segmented into US and Canada. US formed the largest market for its growing applications of IoT in medical devices as well as higher investments being made in healthcare sector by government through various research processes to improve patient monitoring. Canada is known worldwide for its research activities and state of the art healthcare infrastructure that has made Canada one of the fastest growing markets for wearable medical devices.
• North America Wearable Medical Devices market size analysis and forecast
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing growth of the North America Wearable Medical Devices market
• Wearable Medical Devices market segmentation on the basis of type, distribution channel, device type, application and geography (regional)
• Wearable Medical Devices market strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study
• Wearable Medical Devices market analysis and forecast for five major regions such as Americas, Europe, Asia Pacific and MEA countries
• Profiling of key industry players, their strategic perspective, market positioning and analysis of core competencies
• Competitive landscape of the key players operating in theWearable Medical Devices market including competitive developments, investments, and strategic expansion
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get unbiased idea of the market. This exercise was done at country level to get fair idea of the market in countries considered for this study. Later this country specific data was accumulated to come up with regional numbers and then arrive at market value for North America Wearable Medical Devices market
Some of the key players of the North America Wearable Medical Devices market include:
• Basis Science, Inc.
• Everist Genomics Inc.
• Sotera wireless
• Zephyr Technology Corporation
• Corventis Inc.
• Fitbit Inc.
• Abbott laboratories
Key Target Audience:
• Healthcare institutions
• Wearable medical device manufacturers
• Distributors and suppliers of wearable medical devices
• Public and private physicians
• Research & clinical laboratories
• Health insurance payers
• Market research and consulting firms
The objective of the report is to present comprehensive analysis of Wearable Medical Devices market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Wearable Medical Devices market dynamics, structure by analyzing the market segments, and project the Wearable Medical Devices market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Wearable Medical Devices market make the report investor’s guide.
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