According to the latest report by IMARC Group, titled “Wearable Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global wearable medical devices market grew at a CAGR of around 22% during 2014-2019. Wearable medical devices are the instruments which are non-invasively attached to the body for observing the patient’s health. It comprises of various diagnostic devices, obstetric and neuromonitoring devices, and numerous therapeutic devices. Wearable medical devices consist of controllers, biosensors, power source, and software systems for data interpretation, transfer, acquisition, and storage. These devices can be used as an implant, worn as an accessory, or incorporated into the clothing. They provide accurate measurement of the patient’s vital stats and predict epileptic seizures and heart problems.
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The rising healthcare infrastructure, growing prevalence of chronic medical diseases, and escalating geriatric population are augmenting the market growth. Moreover, due to the outbreak of coronavirus (COVID-19), the demand for wearable medical devices is invigorating in the healthcare industry to monitor patient health concerns and address them in time. These devices find immense applications in rehabilitation, precise monitoring, providing feedback, disease management, and suggesting adequate treatment, remotely and on-premises. Additionally, advancements in technology, such as the internet of things (IoT)-integrated smartwatches, patches, and smart clothing help ensure accurate storing and monitoring of patient information, on-premises, and remotely, which is further anticipated to bolster the market growth. IMARC Group expects the global wearable medical devices market to continue its strong growth during the next five years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wearable medical devices market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, device type, product, application and distribution channel.
Breakup by Device Type:
- Diagnostic Devices
- Vital Sign Monitoring
- Sleep Monitoring
- Electrocardiographs and Obstetric Devices
- Neuromonitoring Devices
- Therapeutic Devices
- Pain Management Devices
- Insulin Delivery Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
Breakup by Product:
- Activity Monitors
- Smartwatches
- Patches
- Smart Clothing
- Hearing Aids
- Others
Breakup by Application:
- Sports and Fitness
- Remote Patient Monitoring
- Home Healthcare
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape Key Player:
- Abbott Laboratories
- Apple Inc.
- Dexcom Inc.
- Fitbit Inc. (Google LLC)
- Garmin Ltd.
- Honeywell International Inc.
- Koninklijke Philips N.V.
- Medtronic Plc
- Omron Corporation
- Vital Connect Inc
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