Summary - A new market study, titled “Wearable Medical Device Market: Current Scenario and Forecast (2019-2025): Emphasis on Product Type (Wristband, Smartwatches, Footwear, Smart Clothing, Patches, Eyewear, Others), Device Type (Diagnostic & Monitoring Devices (Vital Sign Monitoring Devices, Glucose Monitoring Devices, Glucose Monitoring Devices, Fetal Monitoring & Obstetric Devices, Neuromonitoring Devices), Therapeutic Devices (Pain Management Devices, Rehabilitation Devices, Respiratory Therapy), Others), Application (Sports & Fitness, Remote Patient Monitoring, Tele-Home Healthcare), Distribution Channel (Pharmacies, Online Channel, Hypermarkets) and Region/Country ” has been featured on WiseGuyReports.
Global Wearable Medical Device Market is anticipated to reach market valuation of US$ 25,101.5 Million by 2025 displaying reasonable CAGR of 18.29% over the forecast period (2019-2025). Wearable medical devices are deployed for the monitoring of patients at both personal as well as medical level. The technology revolves around the miniaturization of electronic devices in order to make them wearable and reliable. The market of wearable medical device market is anticipated to grow enormously owing to the factors such as rising old age population and old age-related diseases, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices. Growing preference for wireless connectivity among healthcare providers and increasing focus on physical fitness would further derive the overall adoption of wearable medical device. However, high cost of wearable devices and lack of reimbursement and data security issues. Moreover, Incorporation of AI Wearable Medical Devices Market and Increasing demand for connected devices will act as the opportunity for further evolution of this industry
Smart Watches are projected to hold the largest market share and will dominate the Global wearable medical device market by 2025.”
Based on type of wearable medical device market is bifurcated into Smartwatches, Wristband, Smart Clothing, Footwear, Eyewear, Skin Patches and Others. Market of Smart watches is expected to grow tremendously and is projected to dominate the market in 2025 due to the high popularity of these devices.
“Diagnostic & Monitoring Devices are expected to dominate the product type during the analyzed period.”
Wearable medical device market is segmented based on device into diagnostic & monitoring devices and therapeutic devices. The diagnostic & monitoring devices occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025. However, therapeutic devices are expected to show the highest growth.
“Amongst application, Home Healthcare holds the major share in Global wearable medical device market.”
Wearable device market holds a wide range of application in sports & fitness, remote patient monitoring and home healthcare. Rising incidence of lifestyle disease will escalate the market growth and Home Healthcare will hold the highest market share in this segment.
“Online mode of distribution is the prominent mode of distribution of wearable medical devices and is anticipated to dominate Global wearable medical device market by 2025.”
Pharmacies, online channel and hypermarkets are the major distribution channel of this technology. Online Channel are anticipated to dominate this segment in 2025. Rising smartphone penetration and people spending more time on internet is expected to boost the online mode of purchase and distribution of wearable medical devices majorly in the developed and developing countries.
“United States represents as one of the largest markets of wearable medical device market globally.”
For deep dive analysis of the overall adoption of wearable medical devices, through analysis was conducted for major region/country. Regional analysis of the technology is conducted for North America (United States, Canada), Europe (Germany, France, Italy, United Kingdom, Spain, Netherlands), Asia-Pacific (China, India, Japan, Australia, South Korea) and Rest of the world. United States is the largest adopter of technologically advanced products, hence dominate the market for wearable medical device globally.
Competitive Landscape-Top 10 Market Players
Fitbit, Inc., Apple, Inc., Xiaomi Technology Co., Ltd, Garmin International, Huawei Technologies Co. Ltd, Philips Healthcare, Samsung Electronics Co., Ltd., Polar electro OY, Gentag Inc., Omron corporation are some of the prominent players operating in the Global wearable medical device market industry. These players are adopting several growth strategies including acquisition, product launches, partnership and business expansion to increase their market presence and benefit as first mover advantages. The industry has also witnessed the emergence of several start-ups in the respective domain, majorly in the European region.
Reasons to buy:
• Current and future market size from 2018 to 2025 in terms of value (US$)
• Combined analysis of deep dive secondary research and input from primary research through Key Opinion Leaders of the industry
• Country level details of the overall adoption of wearable medical device market and current and future health status of the country
• A quick review of overall industry performance at a glance
• An In-depth analysis of key industry players
• A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
• Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start ups
• The study comprehensively covers the market across different segments and sub-segments of the technology
• Region/country Covered: North America (United States, Canada), Europe (Germany, France, Italy, United Kingdom, Spain, Netherlands), Asia-Pacific (China, India, Japan, Australia, South Korea) and Rest of the world
Customization Options:
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Wearable Medical Device Market can be customized to country level or any other market segment.
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Global Wearable Medical Device Market is expected to reach USD 27.8 billion by 2022, according to a new report by Grand View Research, Inc.
Rising prevalence Freight Elevator Manufacturers of conditions such as obesity and hypertension, as a result of sedentary lifestyle is anticipated to boost the demand for wearable medical devices.
Additionally, growing incidences of chronic conditions, such as diabetes, which require round-the-clock monitoring, are expected to increase the demand for wearable technology.
Browse full research report on Global Wearable Medical Device Market: grandviewresearch/industry-analysis/wearable-medical-devices-marketFurther key findings from the study suggest: Diagnostic wearable medical devices held substantial share in 2014 owing to increasing usage in remote patient monitoring as well as home healthcare Therapeutic wearable devices are anticipated to exhibit remunerative growth over the forecast period.
Wearable medical devices have applications in sports & fitness monitoring, home healthcare, and remote patient monitoring.
Simplified usage of this equipment along with ability to synchronize with cellular phones as well as tablet devices assisted the growth of this segment.
The global wearable medical device market size is expected to reach USD 93.19 billion by 2027, according to a new report by Radiant Insights, Inc.
Download Free Sample Report @ https://www.radiantinsights.com/research/wearable-medical-device-market/request-sample Increasing prevalence of obesity coupled with rising awareness about physical fitness is encouraging people to adopt fitness-related activities.
Wearable devices companies also offer guidance of certified dieticians and nutritionists, further generating the demand for wearable medical devices.
Companies, such as Google, Fitbit, Apple, and Nike are working toward launching new innovative products, which is anticipated to boost the wearable medical devices market growth over the forecast period.
Smart watches and wristbands are the current focal point of product development and innovation, leading to abundant availability of such products.
The product is an adhesive patch that can be placed anywhere on the chest and is used for regulating biometrics such as heart rate, skin temperature, body posture, and activities like steps walked.
The global wearable medical device market size is expected to reach USD 93.19 billion by 2027, according to a new report by Radiant Insights, Inc.
It is projected to progress at a CAGR of 27.9% during the forecast period.
Wearable devices, such as smart bands and smart watches help monitor fitness parameters including calories burned, footstep count, and distance covered while walking or running.
Wearable devices companies also offer guidance of certified dieticians and nutritionists, further generating the demand for wearable medical devices.
Download Free Sample Report @ https://www.radiantinsights.com/research/wearable-medical-device-market/request-sample Companies, such as Google, Fitbit, Apple, and Nike are working toward launching new innovative products, which is anticipated to boost the wearable medical devices market growth over the forecast period.
Further key findings from the report suggest: • The diagnostic devices segment dominated the market in 2019 owing to the increasing disposable income and awareness along with higher healthcare spending • The straps, clip, and bracelets is the largest and fastest growing segment in the wearable medical device market • Home healthcare held a significant market share in 2019 owing to the rise in geriatric population triggering incidence rate of target diseases • North America is projected to command for a cumulative market share in 2019 due to the increasing application of home care and remote patient monitoring for the purpose of regular, continuous, and long-term monitoring of patients • Asia Pacific is expected to witness the fastest growth over the forecast period, attributed to the rising incidence of chronic disease along with growing awareness and disposable income of the consumers • Some of the companies present in the market are Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp., Withings, Vital Connect, Polar Electro, Intelesens, Everist Genomics, Intelesens, and Sotera Wireless Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/wearable-medical-device-market Table of Contents Chapter 1 Methodology and Scope1.1 Market Segmentation & Scope1.1.1 Product1.1.2 Site1.1.3 Application1.1.4 Regional Scope1.1.5 Estimates And Forecast Timeline1.2 Research Methodology1.3 Information Procurement1.3.1 Purchased Database1.3.2 Radiant Insights Internal Database1.3.3 Secondary Sources1.3.4 Primary Research1.3.5 Details Of Primary Research1.4 Information Or Data Analysis1.4.1 Data Analysis Models1.5 Market Formulation & Validation1.6 Model Details1.6.1 Commodity Flow Analysis (Model 1)1.6.1.1 Approach 1: Commodity Flow Approach1.6.2 Volume Price Analysis (Model 2)1.6.2.1 Approach 2: Volume Price Analysis1.7 List of Secondary Sources1.8 List of Primary Sources1.9 List of Abbreviations1.10 Objectives1.10.1 Objective - 1:1.10.2 Objective - 2:1.10.3 Objective - 3:1.10.4 Objective - 4: Chapter 2 Executive Summary2.1 Market Outlook2.2 Segment Outlook2.3 Competitive Insights Chapter 3 Wearable Medical Device Market: Variables, Trends & Scope3.1 Market Lineage Outlook3.1.1 Parent Market Outlook3.1.2 Ancillary Market Outlook3.2 Penetration & Growth Prospect Mapping3.3 User Perspective Analysis3.3.1 Consumer Behavior Analysis3.3.2 Market Influencer Analysis Continued… Read all Reports of this category @ https://www.radiantinsights.com/catalog/medical-devices About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
