Wearable Health Device Market - Global Industry Share, Growth, Competitive Analysis and Forecast, 2019-2025

The global wearable medical device market is expected to grow at a CAGR of 19.3% for the forecasted period of 2016-2021. Wearable health device includes sleep trackers, activity trackers, insulin pumps, sports trackers, heart rate monitors, accelerometers, pain management devices, respiratory devices, and other major wearable devices. Wearable health devices are made of various components which include accelerometers, gyroscope, magnetometer and sensors such as biometric, temperature and humidity sensors. It also consists of a microprocessor.

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Major electronics companies such as Apple, Sony, LG Electronics and Samsung have started to focus on wearable technology in healthcare.

Wearable devices have gained major popularity after the rise of smartphones and the emergence of the smart phone connected smart watches. Manufacturers are now working developing wearable devices to connect with smartphones. It can easily reduce the cost of adding a display unit on the device. One of the latest attempts is by DexCom which is developing CGMS devices which sends data to smartphones. Wearable devices are also gaining popularity due to the capability of remote monitoring. Doctors and physicians can track the activity, heart rate, blood pressure, brain activities and other things using these wearable devices. This helps in reducing the cost of hospital visits and stays.

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Wearable devices are also turning into a lifestyle necessity for the high-income groups, especially in developed countries. It has also gained popularity amongst the urban population in emerging countries. The major target groups for companies are 20-30 and 50 plus age groups. Companies are using extensive marketing strategy to popularize these products. These companies are using wearable technology to boost their smartphone businesses. Google is also working on its Google Glass project. With growing lifestyle diseases, it is expected that the market will continue to grow at a high rate.

North America leads the regions with the highest market share. One of the major reasons for the high growth rate is the high popularity of wearable technology in the region. North America also has the highest number of smartphone users. Asia Pacific is going to have the highest CAGR during the forecasted period. The report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, patent analysis, pipeline analysis, market determinants, key company analysis, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.

Market segmentation

Wearable healthcare device

o Sleep trackers
o Activity trackers
o Actigraphs
o Fetal monitors

Continuous glucose monitoring devices

o Insulin pumps
o Brain monitors
o Electrocardiographs
o Pulse oximeters
o Spirometers
o Heart rate monitors
o Blood pressure monitors
o Accelerometers
o Wearable ultrasound
o Sports tracker

Pain management devices

o Wearable ventilators
o Respiratory devices

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