Wearable Medical Devices Market Research Report
Wearable Medical Devices Market:
As per GMI Research's latest analysis, Global Wearable
Medical Devices Market reveals that the market is slated to register a higher
CAGR over the forecast period. This is majorly attributed to the strong demand
for remote patient monitoring devices and the continuous increase in home
healthcare.
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Wearable Medical Devices Market’s leading
Manufacturers:
·
Lifewatch AG
·
Polar Electro OY
·
Omron Corporation
·
Withings SA
·
Jawbone Inc.
·
Garmin Ltd.
·
Philips Healthcare
·
Fitbit Inc.
·
Sotera Wireless, Inc
·
Drägerwerk AG & Co. KGaA
Wearable Medical Devices Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The global
wearable medical devices market is predicted to witness an upsurge in
demand during the forecast period due to the strong demand for remote patient
monitoring devices and the continuous increase in home healthcare across the
world. Furthermore, the inclination of consumers' preference towards fitness
and healthy lifestyle is encouraging the end-users towards the adoption of
wearable medical devices to monitor the health condition frequently. In the
last few years, there has been an upsurge in the among of complex data
generated. According to the wearable medical devices market forecast, Various
studies are being conducted to create a viable solution that will integrate
artificial intelligence in wearable medical devices, which will further fuel the
growth of the wearable medical devices market size.
Due to the sedentary lifestyle of individuals, there has
been an increase in the incidence and prevalence of lifestyle-related
disorders, thereby enhancing the demand of the market in the coming years. Several
diseases require constant monitoring of parameters, including blood pressure
level and blood sugar level. This feature has enables the amalgamation of
healthcare data with smart devices like a smartphone to have real-time access
to data and to reduce errors. In addition to this, the increasing prevalence of
chronic diseases and the rising mortality rates is promoting healthcare
providers to offer personalized care devices for 24*7 monitoring. The growing
incidences of obesity, followed by the rising awareness associated with
physical fitness, are motivating the consumers to take part in physical
activities. Several wearable devices, such as smart bands and smartwatches, aid
in monitoring fitness parameters, including total distance walked, calories burned,
and footstep count. These factors are further supporting the growth of the wearable
medical devices market share in terms of revenue during the forecast period.
The recent outbreak of the COVID-19 pandemic has positively
impacted the demand for the wearable medical devices market. Consumers are
proactively searching for self-monitoring wearable medical devices to regularly
monitor their health condition despite going to clinics and hospitals for
check-ups. Additionally, the widespread coronavirus has resulted in
health-consciousness among consumers, which in turn, is encouraging them to pot
for wearable medical devices to monitor their health.
Wearable Medical Devices Market Segmentation:
Segmentation
by Product:
·
Diagnostic Devices
o
Vital
Sign Monitoring Devices
§
Heart
Rate Monitors
§
Activity
Monitors
§
Electrocardiographs
§
Pulse
Oximeters
§
Spirometers
§
Blood
Pressure Monitors
§
Others
o
Sleep
Monitoring Devices
§
Sleep
trackers
§
Wrist
Actigraphs
§
Polysomnographs
§
Others
o
Electrocardiographs Fetal And Obstetric
Devices
o
Neuromonitoring Devices
§
Electroencephalographs
§
Electromyographs
§
Others
·
Therapeutic Devices
o
Pain
Management Devices
§
Neurostimulation Devices
§
Others
o
Insulin/Glucose Monitoring Devices
§
Insulin
Pumps
§
Others
o
Rehabilitation
Devices
§
Accelerometers
§
Sensing
Devices
§
Ultrasound Platform
§
Others
o
Respiratory Therapy Devices
§
Ventilators
§
Positive
Airway Pressure (PAP) Devices
§
Portable
Oxygen Concentrators
§
Others
Segmentation
by Site:
·
Handheld
·
Headband
·
Strap/Clip/Bracelet
·
Shoe Sensors
·
Others
Segmentation
by Application:
·
Sports And Fitness
·
Remote Patient Monitoring
·
Home Healthcare
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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