Wearable Medical Devices Market: Approval and Launch of New products to Expand to offer Lucrative Growth Opportunities | Current Health, Sorrel Medical, Willow, Aeroflow Breastpumps, Medtronic plc

Global wearable medical devices market. For instance, July 2018, researchers from Wyss Institute for Biologically Inspired Engineering at Harvard reported development of a wearable soft exosuit that helps users to save energy and walk over difficult terrain. Moreover, increasing investment in wearable medical devices is also expected to aid in growth of the market. For instance, in July 2018, Current Health, a developer of AI-powered wearable monitoring devices, raised US$ 8 million in seed funding.

The global wearable medical devices market was valued at US$ 28,096.4 Mn in 2019 and is forecast to reach a value of US$ 50,898.5 Mn by 2027 at a CAGR of 7.9% between 2020 and 2027.

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Major global wearable medical devices market in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in January 2020, VivaLNK, a China-based provider of connected healthcare solutions for in-patient and remote patient monitoring, received the U.S. FDA clearance for its Continuous ECG platform comprising of reusable wearable ECG sensors and associated software development kit.

Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2019, AliveCor partnered with Huami Corporation, a manufacturer of biometric, data-driven wearables, to integrate the technologies of each company to develop a new generation of medical functionality to wearable devices.

Major players operating in the global wearable medical devices market include, Current Health, Sorrel Medical, Willow, Aeroflow Breastpumps, Medtronic plc, Hoffmann-La Roche Ltd., Koninklijke Philips N.V., Smiths Medical, Johnson and Johnson, OMRON Corporation, Siemens AG, Fitbit Inc., Sonova, and Panasonic Corporation.

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Major players in the global wearable medical devices market are focused on approval and launch of new products to expand their product portfolio. For instance, in April 2019, the U.S. Food and Drug Administration (FDA) granted Class II clearance for Current Health (a healthcare company)’s Artificial Intelligence (AI)-based wearable remote patient monitoring platform (RPM), for post-acute care in hospital and home care setting.

Similarly, in July 2018, LifeSignals Group Inc. received the U.S. FDA clearance for its wireless LP1100 Life Signal Patch, a wearable ECG patch

Major players in the global wearable medical devices market are focused on approval and launch of new products to expand their product portfolio. For instance, in March 2019, VivaLNK, a connected healthcare solutions provider, launched its IoT-enabled medical wearable Sensor Platform that enables internet of health things (IoHT) solution partners to easily capture streams of patient data such as temperature and ECG rhythms

Major players in the market are also focused on adopting various marketing strategies to enhance their market share. For instance, in June 2020, SMi Group announced that AstraZeneca will lead a pre-conference workshop at Wearable Injectors and Connected Devices Conference 2020 on 6th October in London.

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