Wearable medical devices are used for monitoring or diagnosing medical conditions, combined with digital health information, and typically worn over the body. These devices are able to record basic health parameters such as, blood pressure monitoring, blood glucose monitoring, heart rate monitoring, and tracking the daily activities. In addition, with advancement in medical technology, wearable medical devices are available in the form of watches, eyeglasses, clothing, and even contact lenses. These devices help in reducing the recurrent visits to physicians as the patients are able to diagnose the cause of symptoms on their own. With a global rise in the cases of diabetes, the demand for the wearable medical device market is expected to witness significant demand during the forecast period. However, high cost of fitness trackers may inhibit the growth of the market.
The market is flourishing and is expected to continue its fast growth owing to growing awareness about health, changing lifestyle of people, and increasing prevalence of obesity and diabetes. Growing demand for early diagnosis and preventative medicine, user-friendly and self-monitoring devices, and rising health awareness are some of the major factors driving the growth of the Wearable Medical Devices Market. According to the International Diabetes Federation, in 2016, around about 420 million adult population was suffering from diabetes globally, which is increasing at the rate of 8.4% per year and is projected to reach 625 million by 2040. In addition, the wearable medical devices landscape is also supported by industry-standard technology platforms and tools such as Sales-force and Microsoft CRM, which permit devices, data, products and services to work collectively in variety of new ways.
The market research report provides an in-depth overview of the industry including market segmentation by device type, by application, by distribution channel, by product type, by geography. Analysis of the global market with special focus on high growth application in each vertical and fast-growing application market segments. It includes detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top players rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, game-changing developments such as product launches and acquisitions.
The objective of this study is to identify the market opportunities and estimate market size by device type, by application, by distribution channel, by product type, by geography for last few years and to forecast the values to the next five years. The report incorporates both the qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. The report also covers qualitative analysis on the market, by incorporating complete pricing and cost analysis of components & products, Porter’s analysis and PEST (Political, Economic, Social & Technological factor) analysis of the market. The report also profiles all major companies active in this field.
On the basis of region, report is segmented into five major geographies including North America, Europe, APAC, MEA and LATAM. The North America Wearable Medical Devices Market has been further segmented into the U.S., and Canada. Europe includes U.K., Germany, France, Italy, and Spain; APAC includes China, Japan, India, and South Korea. Report covers company profiles of key players in Wearable Medical Devices Market, competitive landscape, and market size estimate and forecast.
The report also provides extensive competitive analysis and profiles of key market players. Some of the major players in Wearable Medical Devices Market are Apple Incorporated, Drägerwerk AG & Co., Fitbit Incorporated, Garmin Limited, and Google Incorporated, Huawei Technologies Co., Ltd, Intel Corporation, Intelesens Limited, Koninklijke Philips N.V., Kopin Corporation, LifeWatch, Nokia, Osterhout Design Group, Polar Electro, Samsung, Sotera Wireless Incorporated, WINMEDICAL, Withings, Xiaomi Inc., among others.
Market Analysis And Insights
The Wearable Medical Devices Market size is projected to reach USD X Million by 2026, from USD X Million in 2020 growing at a CAGR of X during 2021-2026.
Market Scope And Size
Wearable Medical Devices Market is segmented by device type, by application, by distribution channel, by product type, by geography. Players, stakeholders, and other participants in the Wearable Medical Devices Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue and forecast for the period 2015-2026.
Report further studies the market development status and future and Wearable Medical Devices Market trend across the world. Also, it splits Wearable Medical Devices Market Segmentation by device type, by application, by distribution channel, by product type, by geography to deep dive research and reveals market profile and prospects.
Major Classifications are as follows:
By Device Type
- Diagnostic And Monitoring Devices
- Therapeutic Devices
- Sports And Fitness
- Home Healthcare
- Emote Patient Monitoring
By Distribution Channels
- Online Channels
By Product Type
- Activity Monitors
- Smart Clothing
- Smart Watches
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- North America
- South America
- Rest of South America
- Rest of the World
- Middle East
Reason to purchase this report:
- Determine prospective investment areas based on a detailed trend analysis of the global Market over the next years.
- Gain an in-depth understanding of the underlying factors driving demand for different and Wearable Medical Devices Market Segments in the top spending countries across the world and identify the opportunities offered by each of them.
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the Wearable Medical Devices Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the Wearable Medical Devices Market.
- Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Wearable Medical Devices Market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.