Press release
Wearable Medical Devices Market is expected to witness Incredible Growth during 2021-2031 | Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp
Wearable Medical Devices Market
Read more about Wearable Medical Devices Market here: https://www.globalinsightservices.com/reports/wearable-medical-devices-market/
Wearable medical devices are devices that are worn on the body and used to monitor or deliver therapy. They are often used to track vital signs or to deliver medications. Some common examples of wearable medical devices include heart rate monitors, blood pressure cuffs, and insulin pumps.
Key Trends:
One is the development of more sophisticated sensors. These sensors are able to collect a variety of data, including biometric data, which can be used to monitor a patient's health. Another trend is the development of more sophisticated algorithms. These algorithms can be used to process the data collected by the sensors and to provide information that can be used to improve a patient's health.
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Key Drivers:
The key drivers of the market are the increasing prevalence of chronic diseases, the growing aging population, and the increasing adoption of fitness and wellness devices. The rising prevalence of chronic diseases is one of the key drivers of the wearable medical devices market. According to the World Health Organization, the prevalence of chronic diseases is on the rise globally. In 2016, around 40% of the world's population was affected by at least one chronic disease.
Market Segments:
The wearable medical devices market is segmented by product, distribution channel, application, and end-use. By product, the market is classified into trackers, smart watches, smart clothing, and others. On the basis of distribution channels, it is bifurcated into pharmacies, online channels, and hypermarkets. Based on application, it is divided into general health, home healthcare, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players:
The global wearable medical devices market includes players such as Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp, Withings, Vital Connect, Polar Electro, Verist Genomics, and others.
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