The global medical wearable electronics market was worth more than USD 2.8 billion in revenue in 2014 and is expected to cross USD 8.3 billion in 2019, growing at a healthy CAGR of 17.7% from 2014 to 2019. Wearable medical devices are defined as devices with sensors attached to the body that detect and monitor changes in body signatures of various areas and organs. The growth of the global wearable device is driven by several factors of which technological innovations is the most crucial. Technological innovations and advancements have led to the introduction of new products.
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The other factors promoting the growth of the market are increasing incidences of chronic diseases and diabetes patients, ease of use and interpretation of medical devices. Factors constraining the growth of the market include reimbursement issues, high cost of the medical devices.
The report segments the market as global diagnostic wearable device market, global therapeutic wearable device market. Both segments are further divided based on applications and geography. The product type segment has been further categorized into various types of diagnostic and surgical devices along with vision care products based on geography market is segmented into North America (North America wearable diagnostic market, North America wearable therapeutic device market), Europe, Asia- Pacific and ROW (Rest of world).
Asia-Pacific shows potential due to increasing technological innovations and increasing per capita income and growing economy. Major companies discussed in this report with their profile and relevant information from market perspective are Basis Science, Corventis Inc., Draeger, Everist Genomics Inc., Fitbit Inc., Intelesens Ltd., LifeWatch AG, Nuubo, Omron Corporation, Philips Electronics, Polar Electro, Sotera Wireless Inc., Zephyr Technology Corporation and Withings.
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