Global Wearable Medical Devices Market Size 2018; Reaches to USD 16.65 Billion Registering a CAGR of ~18.26 by 2023 | Industry Trends with Major Eminent Players: Zephyr Technology, Philips, LifeWatch AG, Fitbit, Vital Connect, Garmin Ltd and Omron
Wearable Medical Devices like the hearing aid are largely considered by people all over the world and are useful for many functions like monitoring the heartbeat and managing pain. The First hearing aid that is wearable was nurtured in the year 1938, by Aurex Corp which is a Chicago electronics manufacturer and proved to excel in the industry of wearable medical devices.
The Wearable Medical Devices Market was worth USD 3.68 billion in 2014 and is expected to reach approximately USD 16.65 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 18.26% during the forecast period.
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Wearable Medical Devices Market - Competitive Insights:
The leading players in the market are Zephyr Technology, Philips, LifeWatch AG, Fitbit, Vital Connect, Garmin Ltd and Omron. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Wearable medical devices are handheld tools for monitoring that are utilized for identifying and monitoring disease. Because of the Increase in chronic illnesses, patients are picking healthcare at home as a practical and efficient method for treatment, as opposed to hospital services. Rising requirement for viably overseeing chronic disorders, developing number of disorders related to lifestyle, advent of cutting edge devices for healthcare management, expanded concentration towards healthy lifestyle are factors anticipated to boost the growth of the market. Also, developing awareness about early diagnosis of disease and treatment combined with increasing requirement for enhancing way of life and personal satisfaction will additionally boost the market development.
Wearable Medical Devices Market - By Region:
North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Wearable Medical Devices Market - Regional Outlook and Trend Analysis:
Geographically, the market for wearable devices in North America has risen as the undisputed pioneer among the various territorial fragments. The high rate of robust healthcare infrastructure, diabetes, and early implementation of medical technologies are behind the astral development of the territorial market. Moreover, the vital monitors fragment has pulled in enormous request in North America which has profited the general territorial market.
Wearable Medical Devices Market - Drivers and Restraints:
Developing prevalence of diabetes is one of the main considerations driving the development of the market. Individuals experiencing diabetes need to screen and keep a track of their key parameters including body weight, food intake, physical action and glucose level once in a day. This has brought about significant development of the market. For example, according to International Diabetes Federation (IDF), in 2015, diabetes influenced 415 million individuals worldwide and this number is foreseen to increase over the forecast period. Additionally, it was discovered that 1 of every 11 adults experience the ill effects of diabetes. Therefore, the rising predominance of diabetes will help the market development for wearable medical devices in not so distant future. Additionally, expanded focal point of key players on creating innovative wearable devices to meet the neglected therapeutic needs will additionally impel the market development.
Wearable Medical Devices, Market Segmentation:
The Wearable Medical Devices Market is segmented on the basis of product and application. Based on product the market is segmented into Therapeutic Devices and Diagnostic devices. The devices assist in carrying out vital operations to monitor an individual’s condition on real time basis. Based on application the market is segmented into Home Healthcare, Remote Patient Monitoring and Sports and Fitness.
Wearable Medical Devices Market , By Product: Therapeutic Devices, Respiratory Therapy Devices, Rehabilitation Devices, Insulin/Glucose Monitoring Devices, Pain Management Devices, Diagnostic Devices, Vital Sign Monitoring Devices, Sleep Monitoring Devices, Electrocardiographs Fetal and Obstetric Devices, Neuromonitoring Devices
Wearable Medical Devices Market , By Application: Remote Patient Monitoring, Home Healthcare, Sports and Fitness
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Wearable Medical Devices Market - Table of Contents:
2. Executive Summary
3. Market Overview
4. Market Analysis by Regions
5. Wearable Medical Devices Market , By Product
6. Wearable Medical Devices Market , By Application
7. Wearable Medical Devices Market , By Region
8. Company Profiles
8.2.Zephyr Technology Corporation
8.3. Fitbit Inc.
8.6. Omron Corporation
Discuss our expert team: https://www.crystalmarketresearch.com/send-an-enquiry/HC071121 .
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends.
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
About Crystal Market Research:
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customised research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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