Future Growth of “Wearable Medical Devices Market” by Top 10 Players Size, Segments and Share with Fitbit Inc., Garmin, Vital Connect, Omron Corp., Sotera Wireless and Jawbone Till 2025

The Global Wearable Medical Devices Market based on region, is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). Asia-Pacific region is expected to display the fastest growth for wearable medical devices during the forecast period. Growing awareness among the population, increasing disposable income, and rising incidence rate of chronic diseases are few factors promoting growth in this region. Whereas, the Americas region is expected to maintain its lead throughout the forecast period, owing to presence of large number of players, immediate acceptance of innovative products by the consumers and increasing demand for wearable devices.

The Global Wearable Medical Devices Market size was valued at USD 3.9 billion in 2014 and is expected to grow with a CAGR of 28% over the forecast period. Increasing demand for technologically advanced wearable medical devices, rising awareness regarding physical fitness, advent of new smartphone linked healthcare applications and growing demand for wireless connectivity in the healthcare industry are the key factors propelling the overall industry. Furthermore, constant growth of remote patient monitoring and home healthcare are expected to positively influence the wearable medical devices market globally.

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The company profile section includes detailed analysis of some of the key players such as Philips Electronics, Omron Corporation, Zephyr Technology Corporation, Fitbit Inc., Johnson and Johnson, The Boston Scientific Corporation, and LifeWatch AG.

Introduction of advanced products such as smart watches, wrist bands, fitness bands and glucose monitoring applications are of prime importance for the market growth. In addition, a shift in trend from traditional to wearable devices owing to the increasing digitization and rising tech savvy population is expected to propel the market.

In addition, consumer interest in personal health, growing awareness about wearable devices among the population, rise in base of aging population, increasing benefits from wearable devices and rise in disposable income, are the factors that have helped to propel this market forward. Furthermore, increasing focus on innovations by tech start-ups and favorable government policies are also driving the market in the coming years. Along with these above-mentioned driving factors, there are some restraints which are expected to hinder the market growing in coming years. Privacy issues, unaddressed regulatory issues, unfashionable products, technical difficulties and cost of these products are some of the restraining factors, which could hinder the market.

Based on type of devices, the market for wearable medical devices is segmented to diagnostic and therapeutic devices. Among these, diagnostic devices further divided into Vital sign monitors, Sleep and activity monitors, Fetal and obstetric monitors, Neuro-monitoring devices, and ECG monitors. And, therapeutics devices are segmented into Pain management devices, Insulin monitoring devices, Respiratory therapy devices, and Rehabilitation devices. Based on the site of application, the market is segmented into Handheld, Headband, Strap, Shoe sensors and others.

The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of devices and application areas. The study also provides information for recent merger and acquisition deals happened in the market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry, financial analysis and various business strategies adopted by them. This report will help players in global wearable medical devices market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.

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