Wearable Medical Devices Market : Size & Trends Shows a Rapid Growth by 2028

Wearable Medical Devices Market

DBMR has added a new report titled Wearable Medical Devices Market with analysis provides the insights which bring marketplace clearly into the focus and thus help organizations make better decisions. With a devotion and commitment of supreme level of resilience and integrated approaches, Wearable Medical Devices Market research report has been structured. The report also puts a light on growth opportunity assessment (GOA), customer insights (CI), competitive business intelligence (CBI), and distribution channel assessment (DCA). This world class market report analyses and evaluates the important industry trends, market size, market share estimates, and sales volume with which industry can speculate the strategies to increase return on investment (ROI). The statistics have been represented in the graphical format for an unambiguous understanding of facts and figures.

An influential Wearable Medical Devices Market report brings into focus plentiful of factors such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis which all aids to take business towards the growth and success. This report provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. Moreover, this market report explains better market perspective in terms of product trends, marketing strategy, future products, new geographical markets, future events, sales strategies, customer actions or behaviors. Hence, the credible report brings into the focus, the more important aspects of the market or industry.

wearable medical devices market is registering a healthy CAGR of 23.80% in the forecast period of 2019-2026. This rise in the market can be attributed to the surging demand for wireless connectivity among healthcare providers and continuous advancement in technology.

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Market Definition: Global Wearable Medical Devices Market

Wearable medical devices can be called non-invasive devices and autonomous capable of performing particular medical tasks. These medical tasks involve over a period of time medical monitoring or support. One of the main goals of wearable medical devices is to gather data about the fitness of the individual. These devices are used to monitor walking distance, consumption of calorie, sleep, and heartbeat.

Competitive Analysis:

Global wearable medical devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wearable medical devices market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major market competitors currently working in the global wearable medical devices market are Fitbit, Inc., Koninklijke Philips N.V., Garmin Ltd., BioTelemetry, Inc, Omron Healthcare, Inc, Drägerwerk AG & Co. KGaA, Nokia, General Electric Company, Misfit, Xiaomi, VitalConnect, Activinsights Ltd., World Global Network, Polar Electro, Aliph Brands LLC, Pebble Technology International, Sotera Wireless, Inc., Everist Health, Withings, Intelesens Ltd, among others.

Global Wearable Medical Devices Market By Type (Activity Monitors, Smartwatches, Smart Clothing, Patches), Distribution Channel (Pharmacies, Online Channel, Hypermarkets), Device Type (Diagnostic & Monitoring Devices, Therapeutic Devices), Application (Sports & Fitness, Remote Patient Monitoring, Home Healthcare), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Key Developments in the Market:

  • In February 2019, VivaLNK had launched IoT-enabled medical wearable Sensor Platform for continuous patient monitoring. It has edge computing technologies, range of sensors and has an internal data cloud. It captures biometrics and human vitals, and supplies data from the patient to edge computing devices, and to the cloud, for application analysis and integration. This product launch will expand the company product portfolio and expand its market share.
  • In January 2019, Omron Healthcare had launched HeartGuide. It is wearable blood pressure monitor. It can measure blood pressure through oscillometric technology. It can store up to 100 readings in memory and every data can be sent to a new alternate mobile application, HeartAdvisor. This product launch will expand the company product portfolio and will position the company as a market leader.

Market Drivers

  • Increasing incidence of chronic diseases is driving the growth of the market
  • Continuous advancement in technologies is helping the market to grow
  • Increasing demand of wireless connectivity among healthcare providers is flourishing the growth of the market
  • Surging awareness regarding physical fitness drives the market growth

Market Restraints

  • Expensive wearable devices hampers the market growth
  • Issues regarding data security acts as a market restraint

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Reasons to Purchase this Report

  • Current and future of global wearable medical devices market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

  • All segmentation provided above in this report is represented at country level
  • All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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