The global wearable medical devices market is likely to expand considerably in the coming years due to the incorporation of technologies such as the internet of things (IoT) and artificial intelligence (AI). According to a report published by Fortune Business Insights, titled “Wearable Medical Devices: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 24,571.8 Mn in 2018. Fortune Business Insights states that the market will reach US$ 139,353.6 Mn by 2026, exhibiting a CAGR of 24.7%.
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Leading Players operating in the Wearable Medical Devices Market are:
- Fitbit, Inc.
- Apple Inc.
- BD
- Ypsomed AG
- Sonova
- Hologic Inc.
- AiQ Smart Clothing
- NeuroMetrix, Inc.
- Siemens Healthcare GmbH
- SAMSUNG
Increasing Regulatory Approvals to Emerge as the Catalysts for Market Growth
The soaring demand for wearable devices has resulted in approvals for several products by regulatory authorities, worldwide. As a result of several successful clinical trials, companies are constantly engaging in developing and manufacturing newer products due to the relaxation in product approvals in recent years. Fortune Business Insights has predicted that increasing number of usage approvals will give significant impetus to the wearable medical devices market. In May 2019, Nemaura bagged CE mark for a new wearable glucose monitoring device. The ‘SugarBEAT’ was a minimally non-invasive device and the efficacy of this device contributed to huge demand.
Market Segmentation:
By Application
- Remote Patient Monitoring and Home Healthcare
- Sports and Fitness
By Distribution Channel
- Retail Pharmacies
- Online Pharmacies
- Hypermarkets
By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Rest of the World
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Mergers and Acquisitions to Constitute Substantial Growth
The increasing number of mergers and acquisitions in recent years has offered massive growth opportunities to the companies involved, besides boosting the overall market. Mergers and acquisitions have enabled companies to generate a substantial amount of wearable medical devices market revenue. The report highlights some of the most prominent collaborations between key market players. In July 2018, CeQur announced the acquisition of Johnson and Johnson’s insulin delivery patch. CeQur announced that it has acquired a worldwide license for Johnson and Johnson’s ‘Calibra’ and expressed its intention to expand globally.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments- Partnerships, Mergers, and Acquisitions
- Key Industry Trends
- New Product Launch by Key Players
- Technological advancements in Wearable Medical Devices Market
TOC Continued….!
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