The global wearable medical device market size is expected to
reach USD 93.19 billion by 2027, according to a new report by Grand View
Research, Inc. It is projected to progress at a CAGR of 27.9% during the
forecast period. Rising demand for advanced and continuous health monitoring
products is fueling the growth.
Increasing prevalence of obesity
coupled with rising awareness about physical fitness is encouraging people to
adopt fitness-related activities. Wearable devices, such as smart bands and
smartwatches 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.
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. For instance, HealthPatch, a product of Vital Connect, was launched
in March 2014. 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.
Browse full research report on Wearable Medical Device Market: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market
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
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market/request/rs1
Grand View Research has segmented the global wearable medical
device market based on product, site, application, and region:
Wearable Medical Device Product Outlook (Revenue, USD Million,
2016 - 2027)
- Diagnostic
Devices
- Vital
Sign Monitoring Devices
- Heart
Rate Monitors
- Activity
Monitors
- Electrocardiographs
- Pulse
Oximeters
- Spirometers
- Blood
Pressure Monitors
- Others
- Sleep
Monitoring Devices
- Sleep
trackers
- Wrist
Actigraphs
- Polysomnographs
- Others
- Electrocardiographs
Fetal and Obstetric Devices
- Neuromonitoring
Devices
- Electroencephalographs
- Electromyographs
- Others
- Therapeutic
Devices
- Pain
Management Devices
- Neurostimulation
Devices
- Others
- Insulin/Glucose
Monitoring Devices
- Insulin
Pumps
- Others
- Rehabilitation
Devices
- Accelometers
- Sensing
Devices
- Ultrasound
Platform
- Others
- Respiratory
Therapy Devices
- Ventilators
- Positive
Airway Pressure (PAP) Devices
- Portable
Oxygen Concentrators
- Others
Wearable Medical Device Site Outlook (Revenue, USD Million, 2016 -
2027)
- Handheld
- Headband
- Strap/Clip/Bracelet
- Shoe
Sensors
- Others
Wearable Medical Device Application Outlook (Revenue, USD Million,
2016 - 2027)
- Sports
and Fitness
- Remote
Patient Monitoring
- Home
Healthcare
Wearable Medical Device Regional Outlook (Revenue, USD
Million, 2016 - 2027)
- North
America
- U.S.
- Canada
- Europe
- France
- Germany
- U.K.
- Italy
- Spain
- Sweden
- Russia
- Netherlands
- Asia
Pacific
- Japan
- China
- India
- South
Korea
- Australia
- Singapore
- Thailand
- Philippines
- Malaysia
- Latin
America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle
East and Africa (MEA)
- South
Africa
- Saudi
Arabia
- UAE
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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