Global Wearable Medical Devices Market Huge Growth with CAGR of 23.80 by 2026 | Top Players- Fitbit, Inc., Koninklijke Philips N.V., Garmin Ltd., BioTelemetry, Inc, Omron Healthcare, Inc

Global Wearable Medical Devices Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wearable medical devices market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

wearable medical devices market is registering a healthy CAGR of 23.80% in the forecast period of 2019-2026. This rise in the market can be attributed to the surging demand for wireless connectivity among healthcare providers and continuous advancement in technology. Few of the major market competitors currently working in the global wearable medical devices market are Fitbit, Inc., Koninklijke Philips N.V., Garmin Ltd., BioTelemetry, Inc, Omron Healthcare, Inc, Dragerwerk AG & Co. KGaA, Nokia, General Electric Company, Misfit, Xiaomi, VitalConnect, Activinsights Ltd., World Global Network, Polar Electro, Aliph Brands LLC, Pebble Technology International, Sotera Wireless, Inc., Everist Health, Withings, Intelesens Ltd, among others.

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Market Definition: Global Wearable Medical Devices Market

Wearable medical devices can be called non-invasive devices and autonomous capable of performing particular medical tasks. These medical tasks involve over a period of time medical monitoring or support. One of the main goals of wearable medical devices is to gather data about the fitness of the individual. These devices are used to monitor walking distance, consumption of calorie, sleep, and heartbeat.

Global Wearable Medical Devices Market By Type (Activity Monitors, Smartwatches, Smart Clothing, Patches), Distribution Channel (Pharmacies, Online Channel, Hypermarkets), Device Type (Diagnostic & Monitoring Devices, Therapeutic Devices), Application (Sports & Fitness, Remote Patient Monitoring, Home Healthcare), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026

Key Developments in the Market:

In February 2019, VivaLNK had launched IoT-enabled medical wearable Sensor Platform for continuous patient monitoring. It has edge computing technologies, range of sensors and has an internal data cloud. It captures biometrics and human vitals, and supplies data from the patient to edge computing devices, and to the cloud, for application analysis and integration. This product launch will expand the company product portfolio and expand its market share.
In January 2019, Omron Healthcare had launched HeartGuide. It is wearable blood pressure monitor. It can measure blood pressure through oscillometric technology. It can store up to 100 readings in memory and every data can be sent to a new alternate mobile application, HeartAdvisor. This product launch will expand the company product portfolio and will position the company as a market leader.

Market Drivers

Increasing incidence of chronic diseases is driving the growth of the market
Continuous advancement in technologies is helping the market to grow
Increasing demand of wireless connectivity among healthcare providers is flourishing the growth of the market
Surging awareness regarding physical fitness drives the market growth

Market Restraints

Expensive wearable devices hampers the market growth
Issues regarding data security acts as a market restraint

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Segmentation: Global Wearable Medical Devices Market

By Type

Activity Monitors
Smartwatches
Smart Clothing
Patches

By Distribution Channel

Pharmacies
Online Channel
Hypermarkets

By Device Type

Diagnostic & Monitoring Devices
Vital Signs Monitoring Devices
Heart Rate Monitors
Pulse Oximeters
Blood Pressure Monitors
Glucose Monitoring Devices
Sleep Monitoring Devices
Fetal Monitoring & Obstetric Devices
Neuromonitoring Devices
Therapeutic Devices
Pain Management Devices
Rehabilitation Devices
Respiratory Therapy Devices
Insulin Pumps

By Application

Sports & Fitness
Remote Patient Monitoring
Home Healthcare

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Reasons to Purchase this Report

Current and future of global wearable medical devices market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

All segmentation provided above in this report is represented at country level
All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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