Wearable Medical Device Market Geographic Segmentation, Statistical Forecast and Industry Analysis to 2030 | Activinsights Ltd, Apple Inc., Boltt, Dragerwork, Fitbit, Garmin Ltd., Intel Corporation
Global Wearable Medical Device Market The research report initially provides an industry overview which covers definition, applications, and technology after which the report explores international market players. The report presents the major players of the industry, along with a detailed analysis of their individual positions with respect to the global landscape. The study performs a SWOT analysis to assess the strengths and weaknesses of key market players. The researcher provides in-depth analysis of the size, share, trends, overall revenue, gross revenue and profit margin of the Wearable Medical Devices market to accurately forecast and provide expert insight to investors in order to keep them abreast of market trends.
In terms of revenue, the global wearable medical device market was estimated at US $ 10,450.0 million in 2018 and is expected to reach US $ +33 540.0 million by 2030, with a CAGR of + 13.8% over the forecast period.
Leading market players presented in the Wearable Medical Devices Market report include: Activinsights Ltd, Apple Inc., Boltt, Dragerwork, Fitbit, Garmin Ltd., Intel Corporation, Intelesens Ltd. (Renew Health Limited), Lifesense, LifeWatch AG, Monica Healthcare, Omron, Philips Electronics, Samsung, Sotera Wireless, VitalConnect, Withings, Xiaomi Inc. and Zephyr Technology (Medtronic), among others.
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Also a detailed overview of buying criteria and difficulties encountered in the Wearable Medical Devices business industry is also elaborated in this report. It is also a broad survey of market restraints, industry structure, and business model of the Wearable Medical Devices market. Meetings and interviews with major market players have been used in order to present primary information regarding the market. Moreover, this report gives a comprehensive examination of the scale and scope of the market globally. The report includes the fully examined and assessed data of notable companies and their market situation considering the impact of the Coronavirus. The tools measured, including SWOT analysis, Porter’s five powers analysis, and hypothesis return debt, were used while separating the improvement from the top performing players in the market.
Wearable medical devices in the healthcare industry include electronic devices that consumers can wear, such as bracelets, smart watches, etc. These smart devices are used for various biomedical applications such as monitoring, tracking and recording vital signs aimed at improving the health of clients. These devices are equipped with microchips, sensors and wireless communication technologies which are used to accurately measure temperature, humidity, movement, heart rate, among others. In addition, these connected wearables are equipped with trackers that help reduce the overall cost of diagnosis. The growing need of customers to obtain real-time diagnosis and cost-effective treatment is influencing the growth of the global wearable medical device market. These devices have grown in popularity in recent years, especially in advanced countries where healthcare costs are relatively high. The daily routine of employees in corporate sector and many other sectors becomes hectic and tiring involving less physical activities, which makes them prone to various diseases and deterioration of health. These employees also tend to postpone seeing a doctor or even undergoing prescribed tests to diagnose their health problems and corrective actions. Wearable medical devices have proven successful in such cases and have helped different people with different lifestyles to adopt healthy lifestyles. These devices allow precise monitoring of various activities such as counting sports exercises, studying people’s habits and monitoring vital signs in the elderly population. Wearable tracking devices are becoming predominant due to their real-time activity tracking capabilities. It informs the user of various activities such as distance traveled, time asleep and others, making them aware of their energy consumption and required calorie intake, as well as an optimal amount of exercise. Portable medical devices have several advantages, including increased mobility allowing physicians to remotely access patient data, coupled with real-time patient monitoring. Factors such as the constant increase in lifestyle-related diseases, the profitability of devices, and the increasing accessibility of connected health applications are fueling the growth of the global wearable medical devices market.
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These devices are in physical contact with the body, allowing healthcare professionals to monitor the user’s vital signs by either invasive or non-invasive methods. In addition, these devices are equipped with advanced technologies that allow the user to obtain accurate data regarding the chronic diseases from which the user is suffering. The numerous benefits associated with wearable medical devices are expected to drive the growth of the global wearable medical devices market.
Due to the sedentary lifestyle, the high prevalence of lifestyle-related disorders such as diabetes and hypertension requires continuous monitoring of several physiological parameters including blood sugar and blood pressure. The increasing prevalence of these diseases, coupled with the increasing number of aging people, complements the growth of the global wearable medical devices market. For example, according to data from the International Diabetes Foundation (IDF), in 2019 there were around 463 million adults (20-79 years old) affected by diabetes and it is expected to increase to 700 million users of by 2045. Additionally, low- and middle-income countries are directly affected by diabetes and it constitutes nearly 79% of the total affected population. Medical device manufacturers focus on reducing the size of medical devices and have incorporated features, such as lightness and compactness. This has led to the increasing adoption of continuous glucose monitoring (CGM) devices in diabetic patients. Companies such as Dexcom, Inc. have introduced portable glucose monitoring devices intended for even 2-year-olds, thereby expanding the target audience for this technology. Moreover, the incorporation of additional features like smartphone compatibility and long battery life improves its acceptance and thus influences the growth of the global portable medical devices market.
Why is the Wearable Medical Devices Market Report Beneficial?
- The Wearable Medical Devices report is compiled with in-depth and dynamic research methodology.
- The report offers a complete picture of the competitive scenario of the Wearable Medical Devices market.
- It includes a large amount of information on the latest technologies and product developments in the wearable medical device industry.
- The wide range of analyzes is associated with the impact of these improvements on the future of Wearable Medical Device industry growth.
- The Wearable Medical Devices report combined the required historical data and essential analysis into the comprehensive research report.
- The information in the Portable Medical Devices report can be easily understood and contains a graphical representation of the numbers in the form of bar charts, statistics and pie charts, etc.
- This report can be customized to meet customer requirements. Please connect with our sales team, who will make sure you get a report that matches your needs.
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Global Wearable Medical Devices Market:
- Vital signs monitors
- Heart rate monitors
- Activity monitors
- Sleep monitors
- Portable fetal monitor and obstetrical device
- Neuromonitoring device
- Portable medical devices for pain management
- Portable Glucose Monitoring Devices
- Portable respiratory therapy devices
- Vital signs monitors
- Sports and fitness
- Remote patient monitoring
- Home care
By device type
- To concern
- Ear Wear
- North America
- United States
- Great Britain
- Nordic countries
- Benelux Union
- The Netherlands
- The rest of europe
- Asia Pacific
- New Zealand
- South Korea
- South East Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
- North America
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