Wearable Medical Devices Market Size
As per the report published by the Market Data Forecast, the size of the global wearable medical devices market is predicted to worth USD 16228 million by the end of 2025, showcasing a CAGR of 20.4% from 2020 to 2025.
Key Market Drivers
The key factor driving the wearable medical devices market growth is the growing awareness among people to maintain their fitness. This has increased the demand for devices that can monitor health without any complex procedures. The growth in the technology of remote patient monitoring devices is the key factor for this market’s growth. The increase in the prevalence of diseases like cardiovascular diseases and diabetes to a sedentary lifestyle will positively influence market growth. The devices are also used by people suffering from obesity as it checks their blood pressure level and the calorie burn count, thus, helping people to maintain their health.
Browse TOC and other details of the global wearable medical devices market research report that spread through 160 pages @ https://www.marketdataforecast.com/market-reports/wearable-medical-devices-market
Significant Challenges
The major challenge for the wearable medical devices market is the breach of personal data security due to theft or data hacking. The other challenge for the market is to make more and more areas technologically sufficient that the demand for these devices gets increases. The lack of awareness among people due to fewer government initiatives is also another restraining factor.
Impact of Covid-19 On the Global Wearable Medical Devices Market:
COVID-19 has positively impacted the market in many ways. The increasing prevalence of the coronavirus has made people more health-conscious and thus increased the demand for wearable medical devices. The coronavirus has been found in studies to impact the underlying diseases in the body by elevating their symptoms and causing serious damage to the body. The medical devices are compact and efficient in analyzing body vitals and health. The surge in cases of the coronavirus will ensure the increasing demand for wearable medical devices. Although the lockdown implemented due to an increase in corona cases can cause transportation issues and create a gap between demand and supply.
Avail free sample brochure of the report to evaluate the usefulness, ask a copy @ https://www.marketdataforecast.com/market-reports/wearable-medical-devices-market/request-sample
This research report on the global wearable medical devices market has been segmented & sub-segmented into the following categories:
By Diagnostic Wearable Devices:
- Wearable Electro-Cardiographs
- Wearable Sleep Monitoring devices
- Heart Rate Monitors
- Blood Pressure Monitors
- Activity Monitors
- Electro Encephalogram
By Therapeutic Wearable Devices:
- Pain Management Devices
- Glucose/Insulin Monitoring Devices
- Respiratory Therapy Devices
By Application:
- Sports and Fitness
- Home Healthcare
- Patient Monitoring
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
North America was the largest segment in 2019 and is expected to grow at a healthy rate during the forecast period. The main reason for the increasing usage is a rise in cases of cardiovascular diseases, cancer, and diabetes all across the region. The treatment of these diseases needs constant monitoring, and thus the wearable devices are very useful. The advancement in healthcare services has helped this market to grow and will drive the growth rate in the future.
The European region had the second largest market share in 2019 and is expected to grow at a good rate during the forecast period. The increasing geriatric population and increasing prevalence of chronic diseases is the main factor driving the growth of the region. The increasing government initiatives to improve the healthcare service in this region will positively influence the market.
Asia Pacific region is expected to grow at the highest rate during the forecast period. The main factor responsible for this region’s highest growth is the increasing government initiatives to promote these wearable devices. The increasing geriatric population due to countries like India and China is also a major positive factor for the market growth. Increasing healthcare expenditure in this region will also help market growth.
This report can be customized as per your requirements, talk to our analysts team @ https://www.marketdataforecast.com/market-reports/wearable-medical-devices-market/customization
PROMISING COMPANIES IN THIS MARKET
Key market participants dominating the global wearable medical devices market profiled in this report are Fitbit (United States), Philips (Netherlands), LifeWatch (Switzerland), Garmin (Switzerland), Omron (Japan), Drägerwerk (Germany), Nokia Technologies (United States), Jawbone (United States), Polar (Finland), Wor(l)d Global Network (United States), Activeinsights (United Kingdom), VitalConnect (United States), Xiaomi (China), Misfit (United States) and Monica Healthcare (United Kingdom).
List of Tables and Figures of the report:
- Global Wearable Medical Devices Market, by Region, From 2020 to 2025 (USD Million)
- Global Wearable Medical Devices Market, by Diagnostic Wearable Devices, From 2020 to 2025 (USD Million)
- Global Wearable Electro Cardiographs Market, by Region, From 2020 to 2025 (USD Million)
- Global Wearable Sleep Monitoring devices Market, by Region, From 2020 to 2025 (USD Million)
- Global Heart Rate Monitors Market, by Region, From 2020 to 2025 (USD Million)
- Global Blood Pressure Monitors Market, by Region, From 2020 to 2025 (USD Million)
- Global Activity Monitors Market, by Region, From 2020 to 2025 (USD Million)
- Global Electro Encephalographs Market, by Region, From 2020 to 2025 (USD Million)
- Global Wearable Medical Devices Market, by Therapeutic Wearable Devices, From 2020 to 2025 (USD Million)
- Global Pain Management Devices Market, by Region, From 2020 to 2025 (USD Million)
- Global Glucose/Insulin Monitoring Devices Market, by Region, From 2020 to 2025 (USD Million)
- Global Respiratory Therapy Devices Market, by Region, From 2020 to 2025 (USD Million)
- Global Wearable Medical Devices Market, by Application, From 2020 to 2025 (USD Million)
- Global Sports and Fitness Market, by Region, From 2020 to 2025 (USD Million)
- Global Home Healthcare Market, by Region, From 2020 to 2025 (USD Million)
- Global Patient Monitoring Market, by Region, From 2020 to 2025 (USD Million)
- 125+ More
Browse Regional Reports:
- North America Wearable Medical Devices Market
- Europe Wearable Medical Devices Market
- Asia Pacific Wearable Medical Devices Market
- Latin America Wearable Medical Devices Market
- MEA Wearable Medical Devices Market
About MarketDataForecast:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
Contact Us:
Market Data Forecast
Phone: +1-888-702-9626
Email: contact@marketdataforecast.com
