Global Wearable Medical Device Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Wearable Medical Device Market By Type, Device Type, Distribution Channel and Application: Global Opportunity Analysis and Industry Forecast, 2018–2025,” the Wearable Medical Device Market was valued at XX million in 2017, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Wearable technology has become more popular from recent past and contains a significant opportunity for businesses, both in terms of new markets and data collection. The first wearable computer was created by Prof. Edward Thorp, in 1960s. Since then wearable technology has witnessed notable growth globally. Medical wearables are designed to help diagnose, monitor, and treat specific conditions that cannot be addressed by any other equipment.
Increased health concern among people, penetration of smartphones, continuous advancements in wearable technology are the major growth factors for wearable medical device market globally. Rising demand for wireless connectivity among healthcare service providers is expected to fuel the However, fear of data security, higher cost of ownership and low awareness regarding benefits of medical wearable devices are expected to hamper the growth of market globally.
This report provides a detailed analysis of Wearable Medical Device market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources supported with either bottom up or top down approach.
Global Wearable Medical Device Market is segmented on the basis of Type (Activity Monitors, Smart Clothing, Activity Monitors and Patches), Distribution Channel (Pharmacies, Hypermarkets & Online Channel), Device Type (Glucose Monitoring Devices, Sleep Monitoring Devices, Fetal Monitoring & Obstetric Devices, Neuromonitoring Devices and Diagnostic & Monitoring Devices) & Application (Home Healthcare, Remote Patient Monitoring and Sports & Fitness).
Geographically, global wearable medical device market is divided as North America, Europe, Asia-Pacific, and LAMEA. Growth of medical wearable device market in Asia Pacific is driven by factors such as Introduction of advanced technology, use of medical wearables in sports and favorable government initiatives. Increased awareness about benefits of medical wearables, availability of developed healthcare infrastructure and presence key players in this market are some of the factors driving the growth of medical wearable devices market in North America region.
Key Question Answered: • What will be the market size in 2025 and at what rate it will grow? • What trends, barriers, challenges are influencing its growth? • Who are the major key players in Global Wearable Medical Device Market and what are their strategies? • What segment and region will lead the market and why?
The major companies profiled in the report include: Fitbit Inc., Garmin, Vital Connect, Omron Corp., Sotera Wireless, Jawbone, Pebble Technology Corp., Basis Science Inc., Withings, Intelesens Ltd., Covidien Plc, LifeWatch AG, Polar Electro, Philips Electronics, and Everist Genomics.
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