The global wearable medical device market is presumed
to garner USD 27,255.6 during the forecast period (2015-2023). The market is
considered to expand at 23 % CAGR owing to the continuous technological
advancements, asserts Market Research Future (MRFR). Wearable medical devices
are referred to as handheld monitoring tools which are used monitor and
identify diseases. Advances in the healthcare sector have boosted the expansion
of the market during the review period.
Drivers
and Constraints Impacting the Market
With the advancement in the healthcare sector along
with progressive innovation in the technology sector, the global market for
wearable medical devices has propelled during the assessment period. Growing
awareness among the patients regarding healthcare technologies is further
boosting the market across the globe. Factors such as cost-effectiveness of the
devices, continuous increase in the lifestyle diseases, and growing connected
healthcare applications have spurred the growth of the market. Moreover,
increasing penetration of smartphones and growing use of smartphone-based
applications are projected to encourage the market growth.
Segmentation
The
global wearable medical device market has been segmented on the basis of type,
device type, application, distribution channel, and region.
By
mode of device type, the global wearable medical device market has been
segmented into therapeutic devices and diagnostic & monitoring devices.
By
mode of distribution channel, the global wearable medical device market has
been segmented into online channel, pharmacies, hypermarkets, and others.
By
mode of type, the global wearable medical device market has been segmented into
smart clothing, patches, smart watches, activity monitors, and others. Among
these, the activity monitors segment is presumed to account for the largest
market share owing to the increasing adoption of sedentary and unhealthy
lifestyles, growing awareness of health and fitness, and growing prevalence of
lifestyle diseases.
By
mode of application, the global wearable medical device market has been
segmented into sports academies and fitness, home health care, remote patient
monitoring, and others. Among these, the sports and fitness segment is presumed
to register the highest CAGR during the review period owing to the growing
focus on physical fitness among people to improve the quality of life and
rising trend of tracking health progress.
Key
Players
The
major players operating the global market are Motorola Solutions Inc.,
Medtronic PLC, Omron Corporation, Qualcomm Inc., Fitbit Inc., Honeywell
International Inc., LG Electronics Inc., Boston Scientific Corporation, Apple
Inc., Sony Corporation, Philips, NIKE INC., and others.
Regional
Analysis
Geographically,
the wearable medical device market span across regions namely, Europe, Asia
Pacific, America, and the Rest-of-the-World (RoW).
Europe
is considered to hold the second position in the global market due to the
growing awareness health and physical fitness with high expenditure on
healthcare. Also, with the increasing prevalence of chronic diseases, the
market is likely to augment in this region.
Among
all the regions, the American region is anticipated to dominate the global
wearable medical devices and is estimated to maintain its dominance during the
forecast period. The growth is attributed to the growing incidence of obese and
diabetic population in this region. Countries such as the U.S. and Canada are
the major countries driving the market in this region.
Asia
Pacific is considered to be the most rapidly emerging region globally due to
the presence of huge population and increasing prevalence of lifestyle and
cardiac diseases. Moreover, production facilities in China and India emerging
rapidly, thereby adding to the development of the market.
Browse
Complete Report Details @ https://www.marketresearchfuture.com/reports/wearable-medical-device-market-899
Major Table of Content
1.Report Prologue
2. Executive Summary
3.Market
Introduction
3.1 Scope Of The Study
3.2
Research Objective
3.3
List Of Assumptions
3.4
Market Structure
4. Research
End Userology
4.1 Research Process
4.2
Primary Research
4.3
Secondary Research
4.4
Market Size Estimation
4.5
Forecast Model
TOC Continued….!
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