Wearable Medical Devices Market 2020: Worldwide Industry Production, Sales, Share, Future Trends and Forecast 2024

2019 Research Report on Global Wearable Medical Devices Market is a professional and comprehensive report on the Wearable Medical Devices industry.

#Download Free PDF Sample Brochure of report Global Wearable Medical Devices Market 2019 across with 161 Pages and in-depth TOC Analysis @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=781851

Key Players: Fitbit (US), Philips (Netherlands), Life Watch (Switzerland), Garmin (Switzerland), Omron (Japan), Drägerwerk (Germany), Nokia Technologies (US), Jawbone (US), Polar (Finland), Wor(l)d Global Network (US), Activeinsights (UK), VitalConnect (US), Xiaomi (China), Misfit (US), Monica Healthcare (UK).

"The global wearable medical devices market projected to grow at a CAGR of 18.3%."

The wearable medical devices market is expected to reach USD 14.41 billion by 2022 from USD 6.22 billion in 2017, at a CAGR of 18.3%. The key factors driving the growth of this market include increasing penetration of smart phones and growing number of smart phone-based healthcare apps compatible with wearable devices and growing preference for wireless connectivity among healthcare providers. However, the high cost of wearable devices and data security issues may hinder the growth of the market to a certain extent during the forecast period.

"Diagnostic and monitoring devices are expected to grow at the highest CAGR during the forecast period."

By device type, the wearable medical devices market is segmented into diagnostic and monitoring devices and therapeutic devices. The diagnostic & monitoring devices segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the growing prevalence of chronic and lifestyle diseases and the increasing need for regular and continuous monitoring with fast data sharing.

"The sports and fitness segment is expected to dominate the market during the forecast period."

Based on the application, the wearable medical devices market is segmented into home healthcare, sports and fitness, and remote patient monitoring. During the forecast period, the sports and fitness segment is expected to grow at the highest CAGR. This growth is mainly due to the increasing focus on physical fitness among people to improve the quality of life and growing trend of tracking health progress on a continuous basis.

"Asia Pacific to witness high growth during the forecast period."

In 2017, North America is expected to account for the largest share of the market followed by Europe. However, Asia Pacific is expected to register the highest CAGR during the forecast period. The high growth in this regional segment is attributed to the increasing spending on healthcare, economic growth, huge population base, and increasing prevalence of diseases. Changes in lifestyle and increasing awareness on wellness and fitness are also expected to drive market growth in the region.

Place a Direct Purchase Order and Get Flat 20% Discount on this Report @ https://www.reportsnreports.com/purchase.aspx?name=781851

In the end, the Global Wearable Medical Devices Market report's conclusion part notes the estimation of the industry veterans.

Connect Us for more information at sales@reportsandreports.com or Call Us + 1 888 391 5441.

About Us: ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets.

This release was published on openPR.