The growth of the wearable medical devices market can be attributed to several factors such as technological advancements, innovations in the field of healthcare, and rising adoption of smartphones among others. Moreover, growing consciousness regarding benefits associated with healthy lifestyle has been critical in contributing to the wide scale adoption of wearable medical devices, worldwide.
Market Industry Reports (MIR) has published a new report titled “Wearable Medical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the wearable medical devices market is estimated to be over US$ 12.5 billion in 2019. It is anticipated to grow at a ~22% CAGR from 2019 to 2030.
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Major Key Players of the Wearable Medical Devices Market are:
Fitbit, Koninklijke Philips N.V., Omron Healthcare, Drägerwerk AG & Co. KGaA, Polar Electro, VitalConnect., World Global Network, Garmin Ltd., Xiaomi and ten3T Healthcare
Rising prevalence of chronic diseases such as diabetes and cardiovascular diseases coupled with rising geriatric population is fueling the demand for wearable medical devices market. According to Centers for Disease Control and Prevention (CDC), in U.S., approximately 18.2 million adults aged above 20 years suffer from Coronary Artery Disease (CAD).
Technological advancements in the sector of wearable medical devices have been significant in encouraging manufacturers to explore and develop advanced devices with superior functionalities. Moreover, Many devices have been introduced in the market by key players to help individuals track their health and manage diverse conditions. For instance, in January 2019, Omron Healthcare, Inc., a global leader in personal heart health and wellness technology launched HeartGuide, a wearable blood pressure monitoring system. The company has also received the 510K FDA clearance for the same.
The Wearable Medical Devices Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
Smart Watches, Activity Monitors, Smart Clothing and, Patches
Online Channel, Pharmacies and, Hypermarket
Diagnostic & Monitoring Devices and Therapeutic Devices
Sports & Fitness, Remote, Patient Monitoring and, Home Healthcare
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
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