Global Wearable Healthcare Electronic Devices Market Assessment Till 2019market assessment report on 'Global Wearable Healthcare Electronic Devices Market Assessment & Forecast: 2015-2019'.
The market in North America was valued at US$ 3,116.7 million in 2014 and is expected to reach US$ 8,454.5 million by 2019 at a CAGR of 18.8% according to the new report 'Global Wearable Healthcare Electronic Devices Market Assessment & Forecast: 2015-2019' by SA-Business Research & Consulting group.
The report covers the market scenario for 10 wearable product segments in six regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. Major reasons for growth in demand are the rising incidence of lifestyle disorders such as obesity. Over one third of adults in United States are obese. Chronic diseases such as heart disease, stroke, diabetes, obesity, and cancer are among the most common, costly, and preventable of all health problems. According to the American Diabetes Association, there are approximately 30 million people that are currently suffering from diabetes and approximately 1.5 million people had Type-1 diabetes in 2014. Asia-Pacific is also considered as a major diabetic zone due to proven studies showing genetic susceptibility to the disease.
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The market for wearable healthcare electronic devices is concentrated mainly in the economically progressive regions of the world such as North America and Europe. High level of awareness, exposure to fitness training and access to affordable technology has increased the usage and penetration of wearable healthcare devices. North America and Europe collectively account for 78.3% of the global market. Low regulations and commoditization of several wearable device segments such as smart watches and bands has helped start-ups commercialize quickly thus increasing competition significantly in the last decade. Some of the primary factors driving the growth of the market in developed regions are the higher awareness of lifestyle diseases and nominal health problems. Greater number of athletes, better purchase power, better knowledge of basic physiological parameters among people, high demand for technology that can track and monitor performance are other factors SA-BRC survey noted to supplement the growth of the market.
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Spearhead Acuity Business Research & Consulting Private Limited (SA-BRC) is a premium Life Science business intelligence and data analytics firm. SA-BRC team offers a wide range of business intelligence services to multiple stakeholders such as Medical Device Manufacturers, Service Providers (Hospitals, Payers, etc.), Suppliers, Group Purchase Organizations, Distributors and all other individuals in the entire value chain of healthcare industry. Our research and consulting capabilities extend across several sub-domains within the sphere of Life Sciences such as Biotechnology, Healthcare IT, Medical Devices, Veterinary Sciences, Wellness Products and Pharmaceuticals.
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