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Wearable Medical Devices Market Outlook to 2025 - Polar Electro, Omron Corporation, Fitbit, Garmin, Apple, HUAWEI Technologies, Activinsights, Xiaomi Technology, Samsung Electronics and VitalConnect
Wearable Medical Devices Market
According to a new market research study titled ‘Wearable Medical Devices Market - Global Analysis and Forecasts By Device Type and Application, the global wearable medical devices market is expected to reach US$ 23,310.9 Mn in 2025 from US$ 6,231.7 Mn in 2017. The market is estimated to grow with a CAGR of 18.1% from 2018-2025. The report highlights the trends prevalent in the global wearable medical devices market and the factors driving the market along with those that act as deterrents to its growth.
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Some of the prominent players operating in wearable medical devices market are Xiaomi Technology Co., Ltd, Samsung Electronics Co., Ltd., Fitbit, Inc., Garmin Corporation, Apple Inc., HUAWEI Technologies Co., Polar Electro, Omron Corporation, Activinsights Ltd., and VitalConnect.
The report analyzes factors affecting market from both demand and supply side and further evaluates wearable medical devices market dynamics effecting the wearable medical devices market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions. The report also includes the profiles of key manufacturing companies along with their SWOT analysis and market strategies.
Wearable medical devices are electronic in nature and are equipped with sensors that help in monitoring as well as keeping track of a patient’s health. Some of the uses of these devices include, activity tracking, infant monitoring and vital signs monitoring among others. Wearable devices help a patient to have access to his own health records while performing the daily routine activities or tasks
The market for wearable medical devices is expected to grow due to the rising geriatric population, increase in the prevalanece of various chronic illnesses and the growth in awareness regarding fitness. In addition, rising concerns regarding home healthcare is anticipated to have a positive impact on the growth of the wearable medical devices market in the coming years.
The objective of the study is to describe, define, and forecast the wearable medical devices market by product class and application, and region. The report also provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and trends). The report helps to analyze market with respect to individual growth trends, prospects, and contributions to the overall wearable medical devices market.
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Global wearable medical devices market, based on the device type was segmented into diagnostic & monitoring devices and therapeutic devices. In 2017, the diagnostic & monitoring devices segment held the largest share of the market, by device type. The segment is also expected to witness growth at a significant rate during the forecast period, owing to the rising awareness regarding fitness.
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