Overview, Size, Share, Trends and Future Reach 2026 – Fastbreak Daily

the Global Wearable Medical Device Market Value Reached US $ 16.5 Billion In 2020. Looking ahead, IMARC Group expects the market to grow at a CAGR of 25.2% during the period 2021-2026.

History of the report metric: 2015-2020

Baseline year: 2020

Forecast year: 2021-2026

Portable medical devices are stand-alone instruments that provide monitoring or medical support over an extended period of time. These devices are either integrated into clothing or worn as an accessory. They integrate non-invasive physiological sensors, wireless data transmission capabilities, medical information and data processing modules. In recent years, portable medical devices have gained immense popularity as they provide supportive material to deal with the changing medical trend of providing point-of-care treatment.

Global Wearable Medical Device Market Trends:

According to the World Health Organization (WHO), chronic diseases, such as ischemic heart disease (IHD), stroke and diabetes, are becoming the leading causes of death and disability around the world. This has increased the use of wearable technology among individuals to collect data and monitor their health. In addition to this, the recent outbreak of coronavirus disease (COVID-19) has led to innovations in wearable medical devices for telehealth, thus improving the usability, efficiency and popularity of home telemedicine. These devices monitor physiological information, such as biopotential, photoplethysmogram (PPG), heart rate (HR), arterial pressure (BP), blood oxygen saturation (SaO2) and respiration. Additionally, the growing awareness of consumers about fitness has led to the development of wearable devices, such as smart bracelets and smartwatches, taking advantage of advanced technologies such as artificial intelligence (AI), cloud, machine learning and big data analysis. These devices help them monitor fitness parameters, including number of steps, calories burned, and distance traveled. Additionally, factors such as increasing geriatric population, significant improvements in healthcare infrastructure, and various advancements in wearable technology are driving the growth of the market.

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Global Wearable Medical Device Market 2021-2026 Analysis and segmentation:

Competitive landscape:

The competitive landscape of the market has been studied in the report along with the detailed profiles of the major players operating in the market.

Abbott Laboratories, Apple Inc., Dexcom Inc., Fitbit Inc. (Google LLC), Garmin Ltd., Honeywell International Inc., Koninklijke Philips NV, Medtronic Plc, Omron Corporation and Vital Connect Inc.

The report has segmented the market on the basis of region, device type, product, application, and distribution channel.

Breakdown by device type:

  • Diagnostic devices
    • Vital signs monitoring
    • Sleep monitoring
    • Electrocardiographs and obstetric devices
    • Neuromonitoring devices
  • Therapeutic devices
    • Pain management devices
    • Insulin delivery devices
    • Rehabilitation devices
    • Respiratory therapy devices

Breakdown by product:

  • Activity monitors
  • Smartwatches
  • Patches
  • Smart clothes
  • Hearing aids
  • Others

Breakdown by application:

  • Sports and fitness
  • Remote patient monitoring
  • Home care

Breakdown by distribution channel:

Breakdown by region:

  • North America: (United States, Canada)
  • Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, others)
  • Middle East and Africa

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Like the new coronavirus (COVID-19[FEMININE)[FEMININE) the crisis is taking hold of the world, we are constantly monitoring changes in the markets, as well as the industrial behavior of consumers around the world and our estimates on the latest trends and market forecasts are made after taking into account the impact of this pandemic.

Highlights of the report:

  • Market performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market drivers and success factors
  • SWOT analysis
  • Value chain
  • Complete mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

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