openPR Logo
Press release

Global Wearable Medical Devices Market to Reach US$10.7 bn by 2023

04-12-2017 02:00 PM CET | Health & Medicine

Press release from: TMR

Global Wearable Medical Devices Market to Reach US$10.7 bn

Wearable technology has gained momentum of late. Changing lifestyle of young people demands connectivity. The healthcare segment accounts for a major part of the wearable technology market, considering the innovations in several applications in this area in the last two decades. Mobile phones with wearable sensors, implanted medical devices, and home-based telehealth devices can help monitor and manage the health of a patient.

Browse Market Research Report @ http://www.transparencymarketresearch.com/wearable-medical-devices.html

Smartphones have made tremendous development in terms of applications and can now accomplish actual diagnostic tests such as the Apple iPhone glucose test. Withings is another company that has collaborated with Apple to introduce a device that actually monitors blood-pressure on the go. Moreover, wearable medical devices for athletes who wish to monitor their performance and condition are available in the market. Similarly, such devices for continuous medical monitoring for outpatients with chronic medical conditions, physicians needing to quantify and detect behavioral aberrations for early diagnosis are also available.

According to the report, the global wearable medical devices market was estimated to have a valuation close to US$2.7 bn in 2014, which is projected to reach nearly US$10 bn by 2023, rising at a strong CAGR of 18.0% during the forecast period of 2015 to 2023.

Wearable Electrocardiographs Projected for Healthy Growth Rate

In terms of diagnostic devices, the report segments the global wearable medical devices market into vital signs monitors, fetal monitors and obstetric devices, and neuromonitoring devices. The segment of vital sign monitors has been further sub-segmented into heart rate monitor, activity monitor, sleep monitor, electrocardiographs, and others.

Out of these, heart rate monitor currently serves the maximum demand, reaching an estimated valuation of US$2.5 bn by 2023, although the sub-segment of wearable electrocardiographs are projected for the best CAGR of 17.8% during the forecast period, owning to its factors such as reliable, light weight, risk associated with cardiac arrhythmias, increasing prevalence of cardiovascular disease, and cost effectiveness. However, the lack of security and privacy of important data, short battery life, and slow-rate of acceptability by individuals are anticipated to hinder the growth rate of the sub-segment during the forecast period.

Fill the form to gain deeper insights on this market @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1733

North America Serves Maximum Demand

Geographically, the report studies the opportunities available in the regional market for wearable medical devices in North America, Europe, Asia Pacific, and Rest of the World. Currently, North America serves maximum demand, valued at US$1.6 bn in 2016, which is projected to reach US$4.5 bn by the end of 2023, expanding at a CAGR of 15.8% during the forecast period of 2015–2023.

The dominance of this region is attributed to the large number of early adopters and consumers, presence of several mid-sized and large players, and increasing number of new players. North America market for Wearable medical devices is mainly dependent on the country of the U.S. and Canada. According to CDC, 29.1 million people in the U.S. have diabetes, which is driving the uptake of glucose monitors, heart rate monitors, and activity monitors. Collectively, the segment of vital signs monitors is most profitable in this region.

Fitbit Inc., Omron Corporation, and Medtronic plc., are identified by the report as the most prominent companies in the global wearable medical devices market.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Contact Us

Transparency Market Research
State Tower,
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Wearable Medical Devices Market to Reach US$10.7 bn by 2023 here

News-ID: 500105 • Views:

More Releases from TMR

Emerging Opportunities in Logistics Market with Current Trends Analysis
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027. The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031. The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,

All 5 Releases


More Releases for Wearable

Wearable Manicure Market
The "Wearable Manicure Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031.  The market was valued at USD xx.x billion In 2023. Growing Demand and Growth Potential in the Global Wearable Manicure Market, 2024-2031 Verified Market Research's most recent report, "Wearable Manicure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination
Wearable Biosensors Industry: Unveiling Health Insights through Wearable Technol …
The wearable biosensors market is predicted to rise to US$ 65,400.2 Million by 2033 from an estimated US$ 29,648.8 Million in 2023. From 2023 to 2033, the market for wearable biosensors is anticipated to expand at a CAGR of 8.2%. The wearable biosensors market is revolutionizing personalized healthcare by enabling real-time monitoring of health parameters and providing valuable insights for individuals. Wearable biosensors, integrated into devices such as smartwatches, fitness bands,
Pet Wearable
Global Pet Wearable Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $$ % over the forecast period 2022-2028. The Pet Wearable can be defined as smart wearable devices intended for pets. These devices are utilized for identification and tracking of pets. Pet wearable comprised of different devices such as Smart Collar, Smart Vest, Smart Harness, and
Wearable Injectors Market | On-body Wearable Injectors, Off-body Wearable Inject …
A report by Transparency Market Research (TMR) throws light on the key dynamics operating within the global market for wearable injectors. The competitive landscape of the global market for wearable injectors has witnessed the entry of several newbie players over the past decade. This abrupt influx of new vendors can be attributed to the large market gap and lucrative growth opportunities floating in the global wearable injectors market. In order
WEARABLE TECHNOLOGY REVOLUTION IN THE HEALTHCARE INDUSTRY BY DEVICES (WEARABLE M …
The various scientific advancements are constantly transforming the healthcare industry to improve patient care and diagnosis. The advent of smart wearable technology is modifying the healthcare industry in the form of wearable medical devices. Let’s take a look at some of the most trending gadgets that are enhancing the lives of patients using this user-friendly wearable technology: Biopatches, Bands, and Phone Pads for Heart Rate Monitoring: Biopatches are lightweight, wireless diagnostic wearable
Wearable Electronic Devices Market,Wearable Electronic Devices Industry, Global …
Latest industry research report on: Global Wearable Electronic Devices Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts This report studies the global Wearable Electronic Devices market status and forecast, categorizes the global Wearable Electronic Devices market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other